Hamilton Locke is delighted to have advised environmental technology company Calix Ltd (ASX:CXL) on a global licence agreement and collaboration agreement between Leilac Ltd, Calix’s cement and lime decarbonisation subsidiary, and Heirloom Carbon Technologies, Inc.
The transaction brings together two complementary climate technologies to provide an efficient approach to atmospheric carbon dioxide removal by Direct Air Capture (DAC). Under the agreements, Leilac and Heirloom will collaborate exclusively for DAC applications, with Leilac’s technology to be used at all future Heirloom DAC facilities.
Objectives of the partnership include accelerating the deployment of renewably powered electric calcination technology for DAC and the decarbonisation of hard-to-abate industries, such as cement and lime. The transaction uses Leilac’s innovative licensing model, with royalty rates based on variables including the volume of CO2 captured, and the prevailing CO2 price or value.
Commenting on the transaction, Hamilton Locke Partner, Sarah Gilkes said: “Our team is proud to have been part of this transformative deal, which sees Calix and Leilac continue to commercialise their unique environmental technology across applications that are positioned to have large-scale, positive global impact”.
The Hamilton Locke team comprised of Partner Sarah Gilkes, Special Counsel Ben Cameron, Senior Associate Janice Yew, and Lawyers Isabel Roach and Freya Hine.
