ZESTY Technology and Funding - Calix has secured a grant agreement with ARENA for $44.9 million to fund up to 50% of the ZESTY Demonstration Plant Project in Australia[43, 46] - The total project budget for the ZESTY demonstration plant, including commissioning and initial testing, is estimated at $90 million[44] - ZESTY is protected by 12 patent families[132] Market Opportunity and Drivers - The iron and steel industry accounts for up to 8% of global CO2 emissions[76] - Countries representing 78% of global GDP have net-zero commitments, driving demand for low-emission technologies[76] - The estimated total addressable market for ZESTY is projected to grow to approximately 790 million tonnes per annum (MT pa) of DRI by 2050[137, 162] ZESTY's Competitive Advantages - ZESTY's technology targets a low hydrogen consumption approach, aiming for the theoretical minimum required for reduction[132, 143, 161] - Pilot testing of ZESTY has achieved metallisation degrees ranging from 70% to 98%[143] - The estimated production cost of green HBI using ZESTY is between US$390 and US$500 per tonne[143]