NoviqTech completes mainnet tokenisation of recycled amines for Global Resource Recovery

NoviqTech (ASX: NVQ) has completed mainnet tokenisation of a proof-of-sustainability batch batch of recycled amines on Hedera’s groundbreaking distributed ledger network for partner Global Resource Recovery (GRR).

A “mainnet” is the fully operational and public version of a blockchain where real transactions take place.

NoviqTech regards the tokens as a pioneering step in the integration of blockchain technology with sustainable resource management.

Sustainability milestone

Each token represents 1,000 litres of product and the completion marks a significant milestone in GRR’s sustainability journey, enabled by NoviqTech’s Carbon Central platform.

“By continuously refining digital twin technology, scaling mainnet tokenisation and leveraging pioneering sustainability tokens, we empower businesses to lead in the ESG space while creating long-term value for stakeholders,” NoviqTech chief executive officer Freddy El Turk said.

“The successful transition from testnet to mainnet underscores the robustness and readiness of NoviqTech’s tokenisation framework in real-world applications.”

Carbon emissions

The platform calculated voluntary carbon emissions, incorporating a range of metrics and other factors to serve as an evaluation of accurate carbon tracking and ensure transparency.

NoviqTech supported the uplift of metres at GRR’s facilities to identify high-quality data capture and manual sources, alongside improvements to increase the quality of future token mints.

The company tailored a “digital twin” to align with GRR’s operational processes, improving its ability to track sustainability metrics from additional sources.

GRR utilises the platform’s basic tier pricing per month and can upgrade to the more costly Enterprise plan as additional projects are onboarded.

End-to-end use

Mr El Turk said the project marked the end-to-end use of Carbon Central from source data collection through to on-chain tokenisation and that NoviqTech remained committed to driving innovation in sustainability.

“This successful implementation of end-to-end digital sustainability tracking showcases the power of our Carbon Central platform,” he said.

“From metering improvements to mainnet tokenisation, this collaboration with GRR highlights our ability to deliver real-world, impactful sustainability solutions.”

SaaS product

Carbon Central is a software-as-a-service (SaaS) product designed for organisations to streamline their projects by managing and tracking their carbon emissions and claiming Guarantee of Origin certificates for green fuels and resources.

NoviqTech entered into a strategic alliance with GRR in December, whereby GRR will act as Carbon Central’s channel partner for waste management within the Australian oil and gas sector.

Under the agreement, GRR utilises the platform’s digital twin capabilities to monitor and track the recycling of spent glycol and amines and creates digital certificates for the processing of other recycled chemicals.