Calix Share Price Soars 17% on Zero-Emissions Patent (ASX:CXL)
Calix Ltd [ASX:CXL] has filed a patent covering a new application to produce zero-emissions iron and steel.
CXL share price jumped 17% to $7.20 per share at the time of writing.
Calix files new patent to curb second-largest source of industrial CO2 emissions
Calix filed a patent covering a new application of its core tech for the production of zero CO2 emissions iron and steel today.
Calix decided to target iron and steel production for its patent because iron and steel sit just behind cement and lime as the second-largest source of man-made industrial CO2 emissions.
Calix cited research suggesting emissions related to iron and steel comprise 7% of the global total, or about 2.6 billion tonners a year.
As Calix explained:
‘80 to 85% of the industry’s CO2 footprint is associated with the production of iron, as 90% of all iron is produced by metallurgical coal- and coke-fueled blast furnaces, producing approximately 1.8 tonnes of CO2 per tonne of iron produced.’
CXL’s ZESTY (Zero Emissions Steel Technology) process involves the use of Calix’s kiln technology to produce iron with the following goals:
- ‘Reduced temperature of operation
- ‘No pelletisation of iron ore required – enabling the processing of fines
- ‘Able to be renewably powered, with intermittent operation
- ‘Can approach theoretical minimum hydrogen use’
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Calix outlook: what are the next steps?
Calix will now leave its patented process in the hands of the Imperial College London, who will conduct a testing program to confirm the process works.
If successful, Calix will conduct scale-up testing at its Bacchus Marsh facility with ores from a ‘potential customer that Calix has already engaged in discussions’.
Calix’s CEO Phil Hodgson said:
‘These are early days for the Calix ZESTY technology, however, given the materiality of both the potential for our technology in iron and steel production and the size of the environmental challenge, being similar to the one our LEILAC business is addressing, we will be pursuing this opportunity as quickly as possible – the world cannot wait any longer.’
Now, another way to reduce carbon emissions is via the mass adoption of electric vehicles. EVs are cleaner than our current internal combustion engine cars.
And a crucial element of EVs is lithium.
So if you’re interested by the potential of the lithium sector but unsure where to start in your research — with so many ASX lithium stocks out there right now — I suggest reading our free 2021 lithium report.
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