WILDFIRE SIGNS TERM SHEET WITH CALIX TO CO-FUND PROJECT PROTON!
This month, Wildfire Energy signed a non-binding term sheet with Calix (ASX: CXL) to co-fund the development and construction of the first phase of the Bulwer Island Energy and Hydrogen Recovery Facility (Project Proton) and an Agency and Exclusivity Agreement for the MIHG technology.
Wildfire and Calix have been working collaboratively together for over 12 months in regard to combining two leading climate technologies, namely Wildfire’s MIHG (Moving Injection Horizontal Gasification) technology with Calix’s Flash Calcination (CFC) technology, to deliver a solution for the decarbonisation of the cement and lime industry, and in the future, potentially other hard to abate industries, such as steel production.
Under the arrangements agreed in the term sheet, Calix will co-fund, alongside Wildfire, an equal share of the development and construction costs of the Phase 1 Bulwer Island Energy and Hydrogen Recovery Facility as well as begin to market the MIHG technology as an option for its customers who want to use clean alternate fuels to power the Calix flash calcination technology.
For more details, see the press release here.