I have finally made an investment in Calix, after a period of...

I have finally made an investment in Calix, after a period of due diligence. Their achievements over the last 6 months have convinced me that they are likely to become a very successful Australian industrial innovator over a timeframe that I am comfortable with. Here are their main achievements over the last 6 months:

1. Calix and Heidelberg Materials execute a Global Licence Agreement in October 2022 including a royalty floor and a variable component linked to the carbon price, costs and alternative technologies. Heidelberg Materials is one of the world's largest manufacturers of building materials and
operates in more than 50 countries.

2. Calix and Pilbara Minerals execute a Joint Venture Agreement in November 2022 for a demonstration plant for the mid-stream processing of Lithium (Calix 45%). FID is expected to be made this quarter. Pilbara Minerals is a $12.7B market cap company on ASX.

3. Cemex announces in November 2022 that they are committing to three new FEED studies to scale CCUS technologies in Poland, Germany and North America, and are negotiating a Global License Agreement with Calix in relation to these and future projects. CEMEX is a global construction materials company that generated US$800M profit in 2022.

4. Calix and Heirloom execute a non-binding MOU with Calix in February 2023 and Heirloom will provide funding of US$3M to advance Leilac's calcium looping. Heirloom is also aiming for a Global Licence Agreement with Calix. Heirloom is a very well funded DAC company backed by Bill Gates, Carbon Direct and Microsoft. Heirloom's mission is to remove 1 billion tons of CO2 from the atmosphere by 2035.

5. Calix and Windship Technologies Ltd win UK Pounds 5M to demonstrate zero emissions shipping technology, including lime based CO2 capture, in February 2023.

6. Calix and Tarmac announce in March 2023 that their Buxton Lime Net Zero Project has passed Industrial Carbon Capture (ICC) due diligence for funding by UK Government.

I see the above as proof of concept and acceptance of Calix's technology by world-leading industrial companies at the perfect time when all major industrial companies are facing great pressure and huge cost incentives to move rapidly towards zero emissions.

It is also worth noting that over the last 12 months, the Calix share price has gone from an $8.80 close to a $4.99 close (a 43% drop), when their share dilution over that same period has only been around 11% due to a capital raising. It may well be that Calix was overvalued one year ago, but the >40% share price drop plus the major advancements made since then makes it much better value now IMO.