NoviqTech (ASX: NVQ) and GRR Partner to Enhance Sustainability in Recycling with Blockchain Technology

2 min read | April 09, 2025 12:54 PM AEST | By Team Kalkine Media

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NoviqTech (ASX: NVQ) and GRR Partner to Enhance Sustainability in Recycling with Blockchain Technology — Image source: shutterstock

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Highlights

Partnership launches blockchain-backed certificates for recycled glycol.

Expansion includes tokenization of recycled amines, broadening sustainable practices.

Global circular economy market expected to grow significantly by 2033.

NoviqTech (ASX:NVQ) has recently entered into a collaborative effort with Global Resource Recovery (GRR) to introduce Proof of Sustainability certificates for glycol that has been recycled by a prominent Australian LNG operator. This initiative ensures that each kilolitre of glycol processed is permanently documented on the blockchain via the Carbon Central platform, enhancing the real-time auditability and credibility of sustainability claims.

This strategic move underscores a robust commitment to the principles of a circular economy and aims to set new industry standards. The effort to recycle glycol is part of a broader strategy following NoviqTech’s successful application of its Carbon Central platform to tokenize recycled amines for GRR. This was executed using Hedera's advanced distributed ledger network, marking a significant advancement in the integration of blockchain technology for sustainable resource management.

The partnership not only marks a milestone for sustainability in industrial recycling but also anticipates the accelerated adoption of blockchain-enabled certification across the global energy sector. The tokens generated are seen as a critical development in promoting transparency and traceability in recycling processes, aligning closely with global sustainability standards.

Further enhancing the system, NoviqTech has implemented a pricing model that includes a monthly subscription for accessing the Carbon Central platform, with additional fees applied per token minted. This allows the company's revenue to scale in tandem with customer operations, aligning economic incentives with sustainability goals.

The importance of this initiative is amplified by industry forecasts suggesting significant growth in the global circular economy. Research indicates that the market, valued at $934.5 billion in 2023, is expected to reach approximately $3,199.5 billion by 2033, with the Asia Pacific region projected to experience the fastest growth.

Freddy El Turk, CEO of NoviqTech, emphasized the strategic focus on expanding their impact within the global circular economy. He noted that GRR's extensive expertise and client base position it as an ideal partner to advance this transformative agenda. This initiative, championed by the leadership of a major Australian LNG operator, represents not just a milestone but a clear signal that verifiable sustainability is the future of the industry.

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