- Calix, Boral receive funding from Government’s CCUS Hubs and Technologies
- MPower finalises transaction for the Lakeland Solar and Energy Storage Project
- Genex executes agreement with Electric Power Development for Kidston Wind Project
Shares in Australian environmental tech company, Calix (ASX:CXL) are up 2.28% on news that it has received $30 million from the Federal Government to develop a carbon, capture, use and storage (CCUS) project in NSW’s Southern Highlands.
In collaboration with building products group Boral (ASX:BLD), the project is targeting 100,000 tonnes per year of CO2 capture, with Calix set to supply its Low Emission Intensity Lime and Cement (LEILAC) technology to the project.
Options for utilisation of the CO2 will be assessed which, when combined with alternative fuels or renewable energy to power the technology, are targeted to create truly zero emissions lime and cement.
CXL managing director and CEO Phil Hodgson said while the company has been working hard at advancing its technology in Europe, this project represents an acceleration in carbon abatement that has occurred in Australia over a very short time.
“It is great to be working with an Australian company such as Boral, with an Australian homegrown technology, in a world-leading project,” he said.
The project objectives are aligned with the Government’s Technology Roadmap to reach net zero emissions by 2050 and to lower the cost of CCUS to less than $20/tonne.
This funding will support Boral and Calix in finalising key commercial terms and commencing design.
If the initial feasibility phase, which is expected to take about 12 months, is successful, a full FEED study will follow leading to an FID, followed by an EPC and operational phase.
Calix (ASX:CXL) share price today
MPower (ASX:MPR)
Renewable energy, battery storage and micro grid designer MPR has finalised a transaction for the Lakeland Solar and Energy Storage Project in Far North Queensland, comprising a 10.8MWac (mega-watt alternating current) solar farm with an adjoining 1.4MWac/5.3MWh lithium-ion battery storage system.
MPR has entered into a share purchase agreement with Kawa Australia Developments to acquire 100% of the Lakeland Solar and Storage project.
The company plans to deploy its in-house engineering team to deliver operational improvements, including upgrades to project infrastructure and implementation of MPower’s proprietary solution for the control and monitoring of renewable energy projects.
MPower says it will take responsibility for the operations, maintenance and asset management of the project from completion.
The acquisition is expected to be completed by the end of June 2022 and generate annual revenue from the sale of energy of around $1.8m.
MPower Group (ASX:MPR) share price today
Genex Power (ASX:GNX)
GNX has executed a joint development agreement with Electric Power Development Co for the Kidston Stage-3 Wind Project at the Kidston Clean Energy Hub in Queensland.
In 2020, Genex and J-POWER entered into a Development Funding Agreement (DFA) which provided initial funding contribution of $1.5m to progress the feasibility work-streams relating to the project.
Since then, the two businesses have been working to progress the development approvals and install wind monitoring infrastructure to determine the viability of the wind resource at the site.
The agreement is an extension to the DFA and is an illustration of Genex’s strong relationship with JPOWER, Japan’s second largest provider of hydroelectric and wind power.
GNX says the project will connect into the new 275kV transmission line to be constructed, owned and operated by Powerlink Queensland for the Kidston Pumped Storage Hydro Project which is expected to be completed in CY2024.
Genex Power (ASX:GNX) share price today
Provaris Energy (ASX:PV1)
Following shareholder approval, Global Energy Ventures has changed its name to Provaris Energy.
The effective date for the change of company name and ticker code on the Australian Securities Exchange (ASX) will be from the commencement of trading on Monday, May 16.