Calix (ASX:CXL) said a material testing program and pre-front-end engineering design (FEED) study under an agreement with a global aluminum major are expected to deliver over AU$1 million in revenue to the firm, according to a Thursday Australian bourse filing.

The receipts are expected to begin in the current financial year and be received in tranches across the project milestones over 12 to 18 months.

The firm said in response to an ASX query that the counterparty in its material testing and engineering study agreement with a global aluminum major is considered to have significant financial capacity and operational scale, providing confidence in its ability to perform under the agreement.

It confirmed that it does not consider the identity of the counterparty to be information that a reasonable person would expect to have a material effect on the price or value of its securities.

Its shares rose over 2% in recent trading on Thursday.