Highlights

  • Coralia hosted A Healthier Earth leadership for a site visit as both parties move toward a Heads of Terms agreement.
  • Swinburne University research found biochar improved concrete compressive strength at low cement replacement levels.
  • The harvest and pyrolysis trial found harvesting commercially viable across all infestation densities.
  • Binding commitments were received for a placement of about $1.805 million to support ASX reinstatement.

NoviqTech Limited (ASX:NVQ) has released its September 2026 quarterly report and Appendix 4C. The company reported progress at its carbon removal subsidiary Coralia, continued commercial operations in its software services business and secured new placement funding.

Coralia Biochar Project Progress

Coralia hosted leadership from A Healthier Earth (AHE), the climate-tech subsidiary of Pure Data Centres Group, for a site visit to the Great Barrier Reef Biochar Project from 15 to 19 September 2026. The proposed offtake under the non-binding MOU would secure at least 70% of the project's Biochar Carbon Removal Credits. Both parties are moving toward a Heads of Terms agreement, although there is no certainty binding terms will be signed.

The project aims to convert 2 million tonnes of woody weeds and agricultural waste into about 550,000 biochar carbon removal credits. A harvesting trial across three areas found harvesting commercially viable at all infestation densities, and lab testing found no heavy metals or chemicals that would block crediting. The certification body Isometric passed the project's eligibility assessment.

Research and Commercial Operations

Swinburne University tested Great Barrier Reef biochar as a partial cement replacement. Compressive strength increased at 2.5% and 5% replacement, and one formulation outperformed conventional fly ash concrete at 12.5% replacement.

In NVQ Services, Fuel Central completed its first full quarter of live operation at Viva Energy's sustainable aviation fuel facility in Brisbane, generating recurring subscription fees and its first usage-based token fees. Carbon Central continued delivering a registry for Eco-Markets Australia and collected a milestone receipt of $132,546 in August.

Placement and Financial Position

On 24 September 2026, NoviqTech received binding commitments for a placement of about $1.805 million at $0.035 per share. Three directors committed about $235,000, subject to shareholder approval. The placement is expected to form part of the funding package for ASX reinstatement, which remains at ASX's discretion.

Cash at quarter end was $151,000, with net operating outflows of $604,000. The company also has an undrawn $1.4 million unsecured loan facility, and the Appendix 4C estimates about 2.57 quarters of funding.

Key Takeaways

  • Offtake discussions with AHE are progressing but remain non-binding.
  • Harvest trials and certification assessment support the biochar project's development.
  • Early research points to potential uses of biochar in concrete.
  • The placement is intended to support the company's path to ASX reinstatement.