NoviqTech adds five-year extension to strategic collaboration with Hedera Foundation

NoviqTech (ASX: NVQ) has confirmed a five-year extension of its strategic collaboration with Hedera Foundation (formerly the HBAR Foundation).

A milestone-based grant to accelerate customer growth and expand transaction scalability across NoviqTech’s blockchain-powered sustainability solutions will support the extension.

The milestones are not interdependent, with each periodically achievable at any time during the period of the collaboration.

Cornerstone grant

The grant has been cornerstoned by the customer marketing development fund, designed to drive NoviqTech’s enterprise customer acquisition and platform adoption.

It includes additional milestones tied to tangible platform usage, growing commercial relationships and enabling reinvestment into the Carbon Central and NoviqAI platforms based on transaction volumes.

NoviqTech expects the milestones to provide a roadmap to validate market traction and growth in environmental asset accounting and supply chain tracking.

Blockchain-powered solutions

NoviqTech chief executive officer Freddy El Turk said the Hedera grant would enable continued development and deployment of blockchain-powered solutions that underpin transparency, traceability and trust in sustainability reporting.

“This transformative grant will be a powerhouse for our growth and will fuel our ability to scale rapidly with major customers,” he said.

Mr El Turk said the extended collaboration reinforced NoviqTech’s commitment to delivering blockchain solutions that help organisations improve their sustainability performance, operational efficiency and regulatory compliance.

Carbon reporting

NoviqTech’s Carbon Central platform leverages Hedera’s secure, energy-efficient distributed ledger technology to provide immutable proof of sustainability and carbon reporting.

The platform operates as a software-as-a-service product that enables companies to streamline projects by managing and tracking their carbon emissions and claiming Guarantee of Origin certificates for green fuels and resources.

As well as offering cost efficiencies through advanced analytics and artificial intelligence-driven energy management, Carbon Central’s Guarantee of Origin feature provides a strategic advantage by enabling full traceability and transparency.

Distributed ledger network

The Hedera Foundation provides financial, technical and marketing support to projects attracting millions of people and billions of dollars to its groundbreaking distributed ledger network.

The network aligns with NoviqTech’s mission to deliver transparent and efficient ESG solutions.

“Together with Hedera Foundation, we will cement the foundations for a more scalable and impactful digital sustainability ecosystem, helping shape the global standard for what comes next,” Mr El Turk said.