Being a highly reactive compound, calcium oxide or quick lime reacts with a wide range of other compounds, the study of which is important to understand its chemical properties. Reaction with Water: When Quicklime is put in water, it produces calcium hydroxide, a basic compound used in buildings and the chemical industry. QuickLime , also known as burnt lime or calcium oxide, is a versatile substance with a vast array of applications. Learn about quicklime —its properties, uses in industry, and important safety tips. Ideal guide for students and beginners. Calcium Oxide Quicklime Calcium oxide (chemical formula: CaO), also called quicklime or burnt lime , is a widely used chemical compound in our daily lives formed by ionic bonding between one calcium atom and one oxygen atom. The white or grayish-white crystalline solid, calcium oxide can be produced in large quantities by driving off carbon dioxide from calcium carbonate. Calcium oxide powder will absorb water to convert itself into lime water or calcium hydroxide and release heat. The ...