Join our daily newsletter At The Bell to receive exclusive market insights
- Calix (CXL) awarded $1 million grant under the Australian Government’s Manufacturing Modernisation Fund
- The company is using the grant to advance its biotech manufacturing capability at its facility in Victoria
- Calix is committed to developing environmentally friendly solutions for advanced batteries, crop protection, aquaculture, wastewater, and carbon reduction
- Company shares ended the day 0.39 per cent in the red to close at $2.57
Calix (CXL) has been awarded a $1 million grant under the Australian Government’s Manufacturing Modernisation Fund (MMF).
This government strategy aims to support manufacturers by co-funding capital investments and reskilling to adopt new technologies, encourage innovation, become more productive and competitive in the market and create more jobs.
Calix will use the grant to develop and transform its biotechnology capability to manufacture bio-active materials for crop protection, marine coatings, and health and pharmaceuticals applications.
Managing Director, Phil Hodgson, said the grant would greatly benefit the development of its productions and applications.
“We are delighted to have been awarded the maximum MMF grant of $1 million to help advance our biotech manufacturing capability at our Bacchus Marsh facility in Victoria,” Mr Hodgson said.
Calix is committed to developing environmentally friendly solutions for advanced batteries, crop protection, aquaculture, wastewater, and carbon reduction.
The funding will also support Calix’s recent share purchase plan and placement which raised a combined sum of $19 million.
Calix is now well-funded to develop more lab and production facilities for its biotech business and to support its Advanced Battery Materials program.
Company shares ended the day 0.39 per cent in the red to close at $2.57.
