Calix Hits First Arena Grant Milestone for Western Australia Project; Shares Fall 5%
MT Newswires Live
Yesterday
Calix (ASX:CXL) reached its first milestone under the Australian Renewable Energy Agency (Arena) grant for the Zesty Green Iron Demonstration Project, according to a Monday Australian bourse filing.
The milestone triggers an initial AU$2 million grant payment, with a further AU$42.9 million contingent on matched funding and subsequent project milestones, per the filing.
The payment comes after a AU$3 million contribution from Rio Tinto Group (ASX:RIO) in December 2025, with more than AU$32 million in additional cash and in-kind support contingent on achieving specific milestones, the filing added.
Calix's shares fell past 5% in recent Monday trade, while Rio Tinto's shares were down almost 2%.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.