NoviqTech Acquires 90% of Coralia Biochar for $1.5M Targeting 2025 Revenues
NoviqTech acquires 90% of Coralia for $1.5M, targeting data centre carbon removal demand with biochar CDR credits as AI infrastructure drives 6% of Australia's east coast grid by 2030.
Key Takeaways
- NoviqTech acquires 90% of Coralia, a biochar CDR company targeting data centres and AI hyperscalers.
- $1.5 million capital raising at $0.02 per share funds the transaction with milestone-based payments.
- Data centres projected to drive 6% of Australia's east coast electricity demand by 2030, creating structural carbon credit demand.
- Great Barrier Reef project converts 2 million tonnes of invasive weeds into biochar with environmental co-benefits.
- First offtake revenues targeting 2025 with potential for three-site scale across Australia.
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