- Calix (CXL) has entered a trading halt this morning as it plans an upcoming capital raise
- Currently, it is unknown how much the company is aiming to raise or where the funds will be spent
- Under the halt, company shares will be paused until Friday, March 19, or when more information about the raise is released to the market
- Earlier this month, the company teamed up with SaltX Technology to build a unique salt-based energy storage system in Sweden
- On the market, Calix last traded at $2.25 per share on March 16
Calix (CXL) has entered a trading halt ahead of an upcoming capital raise.
So far, there are no details on how much the company is aiming to raise or where the funds will be spent.
Under the halt, company shares will be paused until Friday, March 19, or when more information about the raise is released to the market.
Calix develops unique technologies to provide industrial solutions that address global sustainability challengers.
Earlier this month, the company teamed up with SaltX Technology to build a unique salt-based energy storage system in Sweden.
Under this agreement, SaltX will use Calix’s electric-powered direct separation reactor (eDS) technology for a 200- kilowatts pilot reactor, which will be tested over the 2022 financial year.
The reactor will use the excess renewable energy available during the day to power the eDS to heat, charge and dehydrate the salt.
On the market, Calix last traded at $2.25 per share on March 16.