NoviqTech, an Australian company, announced it will sell its Carbon Central, Fuel Central, NoviqAI, and Quantum Intelligence platforms to India's Renaissance Infrastructure for $1 million. The move allows NoviqTech to concentrate on the carbon dioxide removal (CDR) sector through its subsidiary Coralia, which runs a biochar project in north Queensland. The company has secured a large offtake deal with Pure Data Centres Group for 70% of the biochar CDR credits from that project. The divestment is expected to save NoviqTech over $100,000 per month in staff costs, as employees will transfer to Renaissance. The company also plans to partner with Swinburne University to develop low-carbon concrete using biochar, targeting the data center sector. NoviqTech's board believes the CDR market offers the best opportunity for shareholder value, and the company has appointed Timothy Brooks as managing director to lead the new strategy.
