NoviqTech’s Acquisition and Capital Raise: Risks in Scaling SAF and Carbon Removal
NoviqTech has formalised a key collaboration with Viva Energy on sustainable aviation fuel and agreed to acquire biochar carbon removal specialist Coralia, backed by a $1.5 million capital raise.
- Collaboration with Viva Energy on SAF book-and-claim project
- Binding acquisition of Coralia Pty Ltd, biochar carbon removal firm
- $1.5 million placement to fund acquisition and commercial expansion
- Development of blockchain-backed environmental credit registry
- Appointment of Coralia founder Timothy Brooks to NoviqTech board
Strategic Partnership Advances Sustainable Aviation Fuel
NoviqTech Limited (ASX – NVQ) has taken a significant step forward in the sustainable fuels sector with a formal agreement to collaborate with Viva Energy (ASX – VEA) on their Sustainable Aviation Fuel (SAF) book-and-claim project. Supported by a $2.39 million grant from the Australian Renewable Energy Agency (ARENA), this initiative aims to establish SAF infrastructure at Brisbane Airport and beyond.
The partnership focuses on leveraging digital accounting and blockchain technologies to overcome barriers to SAF uptake, especially in regional airports lacking physical infrastructure. NoviqTech’s role includes refining digital systems for greenhouse gas reporting and exploring governance models to ensure credible carbon reduction claims.
Acquisition of Coralia Expands Carbon Removal Capabilities
In a move that broadens its footprint in carbon dioxide removal, NoviqTech has entered a binding agreement to acquire Coralia Pty Ltd, a biochar-focused company targeting carbon removal for AI and data centre sectors. Coralia’s North Queensland project converts invasive woody weeds into biochar, generating high-integrity carbon removal credits.
The acquisition is strategically timed to capitalise on the growing demand for biochar carbon removal, driven by the exponential growth of AI technologies and the urgent need for data centre decarbonisation. Coralia’s founder, Timothy Brooks, is set to join NoviqTech’s board as an executive director, bringing expertise to lead the company’s biochar strategy post-acquisition.
Capital Raising and Technology Development
To fund the Coralia acquisition and accelerate the SAF commercial roadmap, NoviqTech secured binding commitments for a $1.5 million placement at $0.02 per share from sophisticated and institutional investors. This capital injection will support production trials, certification processes, and scaling of NoviqTech’s Fuel Central platform.
Additionally, NoviqTech received a $160,000 phased grant from The Hashgraph Association to develop Registry 2.0, a blockchain-backed environmental credit registry for Eco-Markets Australia. This platform aims to enhance transparency and automation in the issuance, transfer, and retirement of environmental credits, supporting schemes like the Reef Credit Scheme.
Operational Progress and Outlook
During the quarter, NoviqTech advanced its Carbon Central and Fuel Central platforms, delivering enterprise-ready infrastructure that offers end-to-end supply chain visibility and compliance with international standards such as ISCC. These platforms underpin the company’s strategy to provide trusted digital solutions for renewable fuels and carbon markets.
Looking ahead, NoviqTech is transitioning from pilot projects to active commercial deployment in the SAF sector, leveraging insights from the Viva Energy collaboration. The integration of Coralia’s biochar projects is expected to complement these efforts, positioning NoviqTech to meet growing market demand for high-integrity carbon removal solutions.
Bottom Line?
NoviqTech’s strategic moves position it at the forefront of digital innovation in sustainable fuels and carbon removal, but execution risks remain as acquisition and commercialisation efforts unfold.
Questions in the middle?
- When will the Coralia acquisition be completed and fully integrated?
- How will the Viva Energy collaboration influence broader SAF market adoption?
- What are the timelines and milestones for commercialising biochar carbon removal credits?
