Green360 Lands First Binding Supply Deal With Holcim Worth Up to $2 Million
G360 lands first binding supply deal with Holcim worth up to $2 million
Green360 Technologies (ASX:GT3), via subsidiary Suvo Minerals Australia Pty Ltd, has signed its first binding commercial supply agreement with Holcim (Australia) Pty Ltd. The deal covers the supply of up to 4,800 tonnes of MKX-CC (Calcined Clay) over an initial 12-month period into Holcim’s Victorian concrete operations, with estimated revenue of $1 million to $2 million. The agreement transitions G360 from product development to commercial sales, less than three months after commercial production began in April 2026.
Deal at a glance:
- Customer: Holcim (Australia) — a global construction materials leader
- Product: MKX-CC (proprietary high-reactivity metakaolin, low-carbon cement replacement)
- Volume: up to 4,800 tonnes per year
- Term: initial 12-month supply period
- Estimated revenue: $1M–$2M
- Delivery: five Holcim batching plants in the Melbourne area
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Why the Holcim endorsement matters
The agreement represents independent commercial validation of MKX by a global industry leader following extensive technical evaluation. Holcim, a subsidiary of Holcim Group (one of the world’s largest building materials companies operating across 45 markets with 2025 net sales of CHF 15.7 billion), brings decades of Australian infrastructure experience and a strong national footprint.
The deal formalises the commercial terms of a memorandum of understanding previously announced on 12 May 2026. Under the binding agreement, G360 will supply MKX based on a fixed price per tonne with technical compliance standards included. The agreement is binding on commercial supply terms with industry standard termination rights.
MKX will be manufactured at Calix Limited’s Bacchus Marsh facility under G360’s existing Toll Treatment Agreement, then delivered to five of Holcim’s batching plants in the Melbourne area.
Executive Chairman Aaron Banks
“This is the moment where our investment thesis becomes commercial reality. Holcim is one of the world’s largest construction materials companies with a strong national footprint and diverse customer base built over decades here in Australia. Their decision to enter into a binding commercial supply agreement for MKX is a significant endorsement of both the quality of our product and our ability to reliably supply it at commercial scale.
Over the past four months we have systematically removed every obstacle between our Pittong resource and the customer. We secured commercial calcination capacity through our agreement with Calix, completed our first commercial production campaign, successfully supplied MKX to infrastructure projects such as Melbourne Airport Business Park, Eastern Freeway Extension, Suburban Rail Loop and today announce our first binding commercial customer.
We believe this agreement represents the first step in establishing G360 as a meaningful supplier into a market facing structural shortages of fly ash and blast furnace slag.
The concrete industry, and consequently Australia’s building and civil infrastructure sector, is approaching a structural supply challenge. For decades the industry has relied on industrial by-products from coal-fired power generation and blast furnace steelmaking to produce lower-carbon concrete. Those supply chains are now shrinking as the economy decarbonises.
This is not a temporary shortage-it represents a fundamental shift in how the industry will source supplementary cementitious materials over the coming decades. We believe MKX is uniquely positioned as one of the few dedicated, scalable and locally produced products capable of replacing these declining materials.”
The structural SCM shortage reshaping Australia’s concrete industry
Lower-carbon concrete has historically relied on industrial by-products: fly ash (from coal-fired power generation), blast furnace slag (from steelmaking), and silica fume (from silicon metal production). These materials have been abundant because they were produced as waste streams from high-emission industries.
That supply chain is now fundamentally changing. Coal-fired power stations are progressively retiring, reducing fly ash availability. Steel production is increasingly adopting lower-emission technologies that generate significantly less blast furnace slag. Domestic silicon metal production has declined, reducing silica fume availability and increasing reliance on imports.
The result: Australia’s concrete industry is competing for a shrinking pool of supplementary cementitious materials precisely as demand for lower-carbon concrete continues to accelerate. This is a structural shift, not a temporary shortage. As the economy decarbonises, the industrial by-products that have supplied the concrete industry for decades are disappearing.
MKX has been specifically developed as a dedicated supplementary cementitious material to address this challenge, providing a scalable, locally produced alternative to traditional SCMs. The Holcim agreement demonstrates that the market is prepared to adopt dedicated SCMs as traditional industrial by-products become increasingly constrained.
Holcim Australia Chief Executive George Agriogiannis
“Demand for high performance, sustainable construction materials continues to grow nationally, and that demand is particularly strong in Victoria where we’ve been supplying lower carbon concrete products to major infrastructure projects for more than a decade. Introducing calcined clay as a supplement is an innovation that will support our efforts to further future-proof the concrete industry. Widespread use of this new supplement will reduce our reliance on fly ash and slag; two materials that will continue to decline in availability as we see the renewable energy sector ramp up, and heavy industries continue to decarbonise. This partnership is a positive step that has the potential to benefit our whole sector and we are delighted that Holcim can bring this breakthrough solution to our clients.”
From development to commercial supply in four months
G360 has executed a disciplined commercialisation timeline, moving from production capacity to binding supply agreement in a matter of months:
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March 2026 — Execution of a binding Toll Treatment Agreement with Calix Limited (ASX:CXL), providing a capital-light pathway to commercial production with access to up to 30,000 tonnes per annum of calcination capacity.
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April 2026 — Completion of G360’s first commercial production campaign at Calix’s Bacchus Marsh facility, successfully producing 150 tonnes in a single continuous production run. More than 600 tonnes of MKX have now been produced and distributed throughout Victoria for commercial-scale concrete validation.
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July 2026 — Execution of G360’s first binding commercial supply agreement with Holcim for the supply of up to 4,800 tonnes into Holcim’s Victorian concrete operations.
These milestones complete G360’s transition from technology development to commercial supply and demonstrate the successful execution of the company’s strategy to establish a scalable, capital-efficient supply chain for dedicated supplementary cementitious materials.
MKX has already been supplied to infrastructure projects including Melbourne Airport Business Park, Eastern Freeway Extension, and Suburban Rail Loop, providing proof of market traction at commercial scale.
The MKX product suite
G360 produces two commercial products at its Pittong (Victoria) kaolin operations, which are then calcined under the toll treatment agreement with Calix Limited:
| Product | Full Name | Replaces | Application |
|---|---|---|---|
| MKX-CC | Calcined Clay (previously “Eco-Clay”) | Fly ash and blast furnace slag | General low-carbon concrete |
| MKX-UF | Ultra Fine | Silica fume | High-strength concrete |
G360 was the first company to commercialise metakaolin (calcined kaolin) as a supplementary cementitious material in the Australian concrete market. The MKX platform is a low-carbon partial cement replacement product which reduces the embodied carbon in concrete.
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Investment thesis and what comes next
The Holcim agreement establishes G360 as a commercial supplier into a structurally supply-constrained market. The deal provides a platform for additional commercial supply agreements as traditional SCM availability continues to tighten.
G360’s objective is not simply to sell another SCM. The company aims to help build the next generation supply chain for the concrete industry as industrial by-products that have supplied the sector for decades become increasingly scarce.
Upcoming catalysts:
- Ongoing commercial discussions with additional concrete producers throughout H2 2026
- Q4 2026 scoping study assessing the scale efficiencies associated with constructing a dedicated commercial calcination facility adjacent to the company’s existing Pittong operations
The company is positioned at the intersection of two structural trends: accelerating demand for lower-carbon concrete and declining supply of traditional supplementary cementitious materials. The Holcim agreement validates G360’s commercial execution and product quality, providing a foundation for further supply agreements as the market transitions toward dedicated SCMs.
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