Calix focuses on industrial decarbonisation technologies, and its flagship Zesty process combines electrically powered kilns with hydrogen reduction to create low-carbon iron and, ultimately, steel. The technology is designed to work with the Pilbara region’s lower-grade iron ore, potentially opening a massive resource base to green steelmaking. Calix’s next milestone is the construction of a demonstration plant in Western Australia under a joint development agreement with Rio Tinto. The plant will showcase commercial-scale Zesty operation and validate cost and emissions targets. To finance this, Calix secured staged funding commitments from Rio Tinto alongside a large grant from the Australian Renewable Energy Agency (ARENA). These non-dilutive and strategic funds give Calix the capital to advance toward pilot production without revealing any current revenue or customer metrics. Longer term, the firm aims to license or partner its Zesty technology across the global steel value chain.

Total raised

$52M

Funding rounds

2

Latest round

Grant

Latest activity

Nov 2025