The Calix Ltd (ASX: CXL) share price is charging notably higher on Thursday morning.
At the time of writing, the clean technology company's shares are up 10% to $5.24.
This means the Calix share price is now up over 400% since the start of the year.
Why is the Calix share price charging higher today?
Investors have been bidding the Calix share price higher today following the release of a positive announcement.
According to the release, Calix and its LEILAC (Low Emissions Intensity Lime And Cement) project consortium have released their final output report.
The LEILAC project is developing a new technology, aiming to enable the cement and lime industries to capture unavoidable CO2 emissions released from the raw limestone.
What's the latest?
According to the release, the report includes a techno-economic study and a variety of scenarios investigating the costs associated with the technology. This includes different energy sources, such as renewable electricity, and synergies with other capture technologies, based on the validated results of LEILAC-1 Pilot and LEILAC-2 pre-FEED engineering.
The company notes that several development and scale-up steps are required to fit a complete LEILAC system to a cement plant.
However, it highlights that, in theory, as there is minimal energy requirements and relatively small capex, a full scale fully developed LEILAC facility capture costs are expected to be in the range of around 14 to 24 euros per tonne of CO2 avoided. This is the lowest reported of any technology and still has scope for further reduction in cost.
Based on this, it is estimated that future, fully developed and full scale retrofit LEILAC installations using waste fuel could achieve full chain CCS abatement costs (capture, transport, storage, including CAPEX costs) of around 39 euros per tonne of CO2 avoided. Around half of these costs relate to transporting and storing the CO2, and nearly a quarter to the capital and operating costs associated with CO2 compression.
In summary, the company believes the LEILAC technology (both alone and alongside other decarbonisation methods) can enable net zero production of lime and cement at a low cost.
Judging by the Calix share price performance today and in 2021, investors appear excited that this technology could be a game changer in the cement industry.
