Calix (ASX:CLX) has announced plans for fiscal year 2024 that include merging its water and biotech departments.

The result will be a new line of business, known as Magnesia.

The company’s primary objective with the new business line is to generate revenue growth through the increased sale of water treatment products in the United States and Asia.

Calix, headquartered in Australia, specializes in reinventing key processes in energy, emissions, water and agriculture, harnessing nanotechnology to create affordable solutions.