CXL +4.85%%: full-year results out today were hardly about the numbers but more about the opportunity for environmental industrial solutions business Calix. They are developing technology that can reduce emissions and environmental impact across a range of sectors including biotech, minerals processing, cement & lime manufacturing and water treatment. They received 3 government grants in the year for partnerships with Pilbara (PLS), Adbri (ABC) and Boral (BLD) to further develop the technology and scale up operations. The opportunity is huge, and Calix continues to prove their offering. They have $25m of cash on the balance sheet providing plenty of flexibility as they grow earnings, posting an operating loss of $12.1m in FY22.
MM are bullish and long CXL in the Emerging Companies Portfolio
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