- Calix (CXL) loses out on some major government funding after the Labor budget canned the Carbon Capture, Use and Storage (CCUS) Hubs and Technologies Program
- The program was announced by the former government in May but has now been cancelled as the new government implements a new CCUS program
- As such, Calix will miss out on $11 million in grant funding to support a low-emissions lime project with Adbri (ABC)
- Further, Calix partner Boral (BDL) will lose $30 million in funding that was set to support a CCUS project utilising Calix’s cement and lime decarbonisation tech
- The company says it’s waiting for further details of the new grant program while pursuing state and regional programs to assist with these projects
- Shares in Calix are down 14.78 per cent and trading at $4.67 at 12:52 pm AEDT
Calix (CXL) has lost out on some major government funding after the Labor budget canned the Carbon Capture, Use and Storage (CCUS) Hubs and Technologies Program.
The program was announced by the former Liberal government in May but has now been cancelled as the new government works to implement a new CCUS program.
Following the Federal Budget announcement earlier this week, AusIndustry told Calix its $11 million in grant funding to support a low-emissions lime project with Adbri (ABC), announced under the previous program, had been cancelled.
Similarly, Boral (BDL) said a separate $30 million in funding under the program to support another CCUS project using Calix’s cement and lime decarbonisation tech had also been cancelled.
Still, Calix Managing Director and CEO Dr Phil Hodgson said the company remained focused on its rapidly growing pipeline of cement and lime decarbonisation projects around the world.
“Calix acknowledges our partners for their commitment to achieving carbon-neutral cement and lime,” Mr Hodgson said.
“We believe the Leilac technology can also play an important role in urgently decarbonising this essential and hard-to-abate sector of the Australian economy.
“We look forward to continuing to work with Australian governments and industry to help achieve Australia’s emissions reduction targets.”
Under the new CCUS program, the Labor government has committed $141.1 million over 10 years as part of a realignment of investment in carbon capture technologies. The new program will open in 2023.
Adbri said it remained committed to the pre-front-end engineering and design (FEED) study underway for its decarbonisation project.
Using Calix’s technology, the project aims to develop the world’s first commercial-scale process for low-emissions lime and assess alternative energy sources.
Meanwhile, Calix said it was engaging with Boral to consider its next steps in light of the cancelled funding for its proposed project in the Southern Highlands of New South Wales.
Shares in Calix were down 14.78 per cent and trading at $4.67 at 12:52 pm AEDT.