Distributed ledger technology specialist NoviqTech (ASX: NVQ) has completed a significant change to its business operations with the successful addition of the specialist skills of Global Resource Recovery (GRR) and its sustainable waste management business.
NoviqTech has told the ASX it has now completed all onboarding steps for GRR’s sustainability initiatives, facilitated through its Carbon Central platform.
The additions include the implementation of an ISCC-aligned digital twin and the tokenisation of reclaimed glycol to create ISCC aligned sustainability declarations, further enhancing transparency and trust in GRR’s sustainable recycling operations.
Enhanced market positioning
Chief executive officer, Freddy El Turk, said the additions provide the company with enhanced market positioning, with GRR’s sustainable recycling operations strengthening NoviqTech’s position in the ESG market.
“Our collaboration with GRR exemplifies how NoviqTech empowers businesses to enhance trust and transparency in their operations while achieving sustainability milestones. From lifecycle assessments to ISCC-aligned digital twins, this partnership underscores our capacity to deliver impactful solutions,” Mr El Turk said.
NoviqTech’s next significant step will focus on migrating glycol and amines to mainnet tokenisation where a fee will be charged for each token produced.
The mainnet tokens will then be used to generate ISCC aligned sustainability declarations for GRR.
Solidifying digital provenance
Mr El Turk said this transition will further solidify the digital provenance of these recycled products and enhance their marketability as verified sustainable resources.
“NoviqTech’s Carbon Central platform is at the forefront of sustainable innovation, enabling clients like GRR to integrate advanced tracking and tokenisation technologies into their operations,” he said.
“By tokenising glycol and amines recycling processes, GRR not only strengthens its environmental credentials but also creates monetisation opportunities through the guarantee of origin.”
GRR collaboration expanded
In early December, NoviqTech announced an expansion of its collaboration with GRR, transitioning from a client relationship only to a substantial sector strategic alliance.
The upgraded arrangement designated GRR as a channel partner for NoviqTech’s Carbon Central platform within the Australian oil and gas sector.
That development built on the foundation of an earlier partnership, where GRR adopted Carbon Central to enhance transparency and accountability in recycling processes.
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