CXL +0.95%: today announced a relatively small $947,035 grant by the Australian Renewable Energy Agency (ARENA) to help fund a Basis of Design (BOD) and Front-End Engineering and Design (FEED) study for a renewably powered demonstration plant for its Zero Emissions Steel Technology (ZESTY). While that is clearly a mouthful, and the amount is a trickle in the ocean relative to their recent loss of ~$40m in grants following the budget (these could come back – maybe), we still view this as a positive outcome as it highlights the attractiveness of Calix’s technology, but also the willingness of the Australian Government to fund green projects.
MM remains a long-term bull on CXL
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