NoviqTech partners with H2i to tokenise diesel engine emission reductions

NoviqTech (ASX: NVQ) has announced a development collaboration with H2i Technology for a system to tokenise reduced emissions from diesel engines employed at industrial and commercial sites.

The groundbreaking project will generate carbon credits through emission reductions from H2i’s proprietary hydrogen enhancement system, tokenised on the Hedera public distributed ledger using NoviqTech’s Carbon Central platform.

It will leverage Digital Twin technology for real-time emissions tracking, validating and automating carbon calculations, while ensuring transparency and credibility in carbon asset tokenisation.

Automated compliance

Carbon Central will automate carbon calculations, reporting and compliance while integrating with Internet of Things devices for real-time validation and an immutable audit trail.

NoviqTech chief executive officer Freddy El Turk said the project would position both companies at the forefront of the transition to a decentralised carbon economy.

“The integration of the hydrogen enhancement system with Carbon Central will drive real-time emissions reductions and unlock new opportunities in the carbon credit market,” he said.

Subscription terms

Under the partnership terms, H2i will subscribe to NoviqTech’s basic-tier pricing category of $1,000 per month, upgrading to a more costly plan as additional projects are onboarded.

The subscription is on a monthly basis, with a fee to be charged for each token produced and either party able to terminate with 30 days’ notice.

NoviqTech will determine its expected revenue from tokenisation once it has confirmed H2i’s commercial volumetrics .

Reduced emissions

H2i’s hydrogen enhancement system has demonstrated the ability to reduce fuel consumption by up to 27%, cut carbon dioxide emissions by 19% and lower particulate emissions by 44% in diesel engines.

The company has already generated revenue from installations on generators, boats and trains and has a growing global customer base that includes a joint venture in China.

H2i’s collaboration with NoviqTech will aim to enhance the transparency, credibility and adoption of tokenised blockchain carbon assets, providing a pathway for carbon reduction efforts and the commercialisation of green technologies.