NoviqTech Secures $735K Milestone Grant in Five-Year Hedera Partnership

A Strategic Partnership Extended

NoviqTech Limited (ASX: NVQ) has announced a significant extension of its strategic collaboration with the Hedera Foundation, securing a five-year partnership supported by a milestone-based grant of up to USD 735,000. This development underscores NoviqTech’s commitment to advancing blockchain-powered sustainability solutions, particularly through its Carbon Central and NoviqAI platforms.

The renewed collaboration aims to accelerate customer growth, enhance platform adoption, and expand transaction scalability. The grant is structured around tangible milestones linked to commercial relationships and platform usage, ensuring that funding is aligned with measurable market traction.

Driving Adoption Through Customer Marketing Development

A key feature of the grant is the Customer Marketing Development Fund (MDF), designed to support NoviqTech’s enterprise customer acquisition efforts. This fund will provide financial backing to enhance NoviqTech’s capabilities in meeting strategic customer requirements, effectively fueling the company’s ability to scale rapidly with major clients.

CEO Freddy El Turk highlighted the transformative nature of this milestone-driven grant, emphasizing how it aligns with NoviqTech’s innovation roadmap. He described the partnership as a foundation for building a more transparent, scalable, and impactful digital sustainability ecosystem that could help set global standards for sustainability reporting.

Blockchain at the Core of Sustainability Reporting

NoviqTech’s Carbon Central platform leverages Hedera’s energy-efficient distributed ledger technology to provide immutable proof of sustainability and carbon reporting. This technology underpins transparency, traceability, and trust, critical factors for organisations aiming to improve sustainability performance and regulatory compliance.

The milestone-based grant incentivizes NoviqTech to grow its commercial relationships and transaction volumes, with the potential to reinvest funds into further development of its blockchain platforms. Notably, the grant does not provide upfront funding; instead, it is drawn down progressively as NoviqTech meets specified milestones over the five-year term.

Balancing Opportunity and Execution Risk

While the grant offers substantial financial support, it also introduces execution risk. Either party may terminate the agreement for non-performance, and any milestones not achieved within the five-year period will result in lapsing grant funds. This structure places a premium on NoviqTech’s ability to deliver on its growth targets and platform adoption goals.

Overall, this extended collaboration with Hedera Foundation positions NoviqTech to capitalize on growing demand for blockchain-enabled sustainability solutions, a sector gaining increasing attention amid global environmental and regulatory pressures.