The Calix Ltd (ASX: CXL) share price is flying 11% higher to all-time highs.
Investors are jumping for shares in the company following an announcement earlier today.
Let's take a look at what Calix announced and why shares in the company are in hot demand.
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What's been fueling the Calix share price?
Earlier today, Calix announced that the company has executed a Memorandum of Understanding (MOU) for the development of a lime project.
The project for lime production includes CO2 capture and multi-fuel options with UK based building company Tarmac.
The MOU outlines the intent of both parties to conduct feasibility and Front-End Engineering Design (FEED) studies on the project.
According to the announcement, the project is based on a 2-phase approach that will determine a Final Investment Decision (FID). Calix noted that phase 2 feasibility has a target completion date of the second quarter of 2022.
Progression following successful feasibility studies will include construction and commercial demonstration.
Calix also noted that commercial terms are still to be agreed between the parties for on-going licensing of the technology.
Calix CEO and Managing Director Phil Hodgson noted;
"… we are now proud to be working with Tarmac in the UK on a second project of equal ambition. Lime is one of the most important industrial products globally, and it is great to be developing this in partnership with Tarmac, with whom we have had a long association as part of the LEILAC Project consortium.".
More on the Calix share price
The Calix share price has bolted more than 15% in the past 2 days.
Shares in the company have been fuelled by a slew of price-sensitive news, including today's announcement.
Yesterday, Calix announced a partnership with London-listed company RHI Magnesita NV (LON: RHIM).
According to its announcement, Calix has executed an MOU with RHI Magnesia to advance CO2 emissions reduction in the refractory industry.
Calix advised that the MOU will cover the development of a Calix Flash Calciner for use in the production of refractory materials. Under the terms, both parties will undertake studies for aFEED demonstration facility.
Overall, The Calix share price has had an outstanding year thus far. Shares in the technology company have nearly tripled after opening the year at around $1.07.
