CXL -22.01%: the green industrial technology company fell to 3-year lows today following news a project partner had halted progress on the implementation of Calix’s kiln technology. One of the world’s largest cement companies, Heidelberg, is shutting down its Hanover facility that was also planned as the site of Leilac-2, citing weak cement sales in Germany. While Heidelberg is committed to finding another appropriate site for Leilac-2, and the decision was made before the construction of the kiln, saving substantial write-offs, it does further delay revenue Calix was banking on as they work on commercializing several products.
MM remains neutral CXL
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