NoviqTech signs deal with Clean Hydrogen Technologies for turquoise hydrogen tracking

NoviqTech (ASX: NVQ) has secured a deal with BPH Energy (ASX: BPH) investee company Clean Hydrogen Technologies (CHT) to implement its capabilities for tracking Guarantee of Origin certificates, supporting CHT’s global clean energy goals.

CHT will leverage NoviqTech’s innovative tracking system to provide transparent and verifiable certification for turquoise hydrogen (hydrogen produced without carbon dioxide emissions) at its facilities.

The process will involve the integration of real-time monitoring systems to capture data on the hydrogen production process and tokenise the certificates, ensuring proof of the sustainability and source of the hydrogen.

Subscription model

CHT will utilise a month-to-month subscription model for tracking, with NoviqTech applying fees per token produced.

CHT will begin the modelling phase this year and plans to issue tokens once it reaches production.

This step is considered crucial to ensuring the hydrogen produced meets sustainability standards outlined in the agreement between the two companies.

Enhanced transparency

NoviqTech chief executive officer Freddy El Turk said the collaboration aimed to enhance transparency and accountability in a sustainable hydrogen economy.

“We are thrilled to partner with Clean Hydrogen Technologies in its mission to deliver sustainable hydrogen solutions,” he said.

“Our technology will empower the company to provide transparent and verifiable information about its hydrogen production and enhance the credibility of its offerings in the clean energy market.”

‘Quality platform’

CHT chief executive officer David Cassidy welcomed the NoviqTech partnership.

“NoviqTech provides a quality platform for managing the benefits realised from our clean hydrogen and clean carbon products, allowing us to access economic, tax and other incentives in our operating regions of the US and India,” he said.

“We believe NoviqTech is leading the way for clean energy providers to track their contributions to a cleaner future with fewer carbon emissions.”