Coralia and AHE Sign Carbon Removal Agreement for Great Barrier Reef Project
Coralia has partnered with A Healthier Earth to secure a long-term offtake agreement for biochar carbon removal credits. This initiative aims to convert 2 million tonnes of agricultural waste into 550,000 carbon removal credits over the project's lifetime.
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Coralia, a subsidiary of NoviqTech (ASX: NVQ), has signed a strategic agreement with A Healthier Earth (AHE) to develop a carbon removal offtake agreement at the Great Barrier Reef biochar project in North Queensland. The partnership will focus on feedstock sourcing, process optimisation, and performance assessment, aiming for AHE to secure at least 70% of total biochar carbon removal credits.
The project plans to convert an estimated 2 million tonnes of agricultural biomass into around 550,000 biochar carbon removal credits. This collaboration is set against a backdrop of high demand for biochar, with prices for high-quality credits reaching US$220 per tonne. The initiative may yield significant benefits in a constrained market.
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