NoviqTech Acquires 90% of Coralia to Enter Biochar Carbon Removal Market
NoviqTech has acquired 90% of Coralia to enhance its carbon dioxide removal capabilities and enter the biochar market, focusing on sustainability in data centres. The deal, which includes a $500,000 share issuance and milestone payments for the remaining 10%, aims to convert invasive tree species in North Queensland into biochar, generating potential carbon credits. Coralia's founder will join NoviqTech's board to lead biochar initiatives, positioning the company in the expanding carbon solution sector amidst increasing data centre emissions.
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NoviqTech has signed an agreement to acquire 90% of Coralia, focusing on large-scale carbon dioxide removal and data centre sustainability. The acquisition will enhance NoviqTech's carbon removal capabilities and facilitate revenue from biochar credits.
Coralia's model targets converting invasive tree species in North Queensland into biochar, generating potential carbon credits. The transaction includes a $500,000 share issuance and milestone-based payments for the remaining 10%.
Coralia's founder will join NoviqTech's board to direct biochar initiatives. The deal aims to position NoviqTech in the growing carbon solution market, particularly amid rising data centre emissions.
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