NoviqTech (ASX: NVQ) is selling its Carbon Central and other technology platforms to Renaissance Infrastructure for $1 million. The company will focus entirely on its Coralia subsidiary, which produces biochar carbon removal credits. A deal with Pure Data Centres Group covers 70% of credits from a Great Barrier Reef biochar project. The company expects to save over $100,000 per month in staff costs by transferring employees to Renaissance. NoviqTech is also partnering with Swinburne University to develop low-carbon concrete for data centers. The board sees the CDR market as the best path for shareholder value. New managing director Timothy Brooks says the divestment lets the company direct capital to the most compelling growth opportunity. The move positions NoviqTech in the rapidly growing global carbon removal market while leveraging its carbon measurement and verification expertise.
