NoviqTech (ASX: NVQ) has partnered with Global Resource Recovery (GRR) to mint Proof of Sustainability certificates for glycol recycled by a major Australian LNG operator.

Under the terms of the deal, each kilolitre of glycol processed will be permanently recorded on blockchain using Carbon Central, providing real-time auditability and high-quality proof of sustainability claims.

The exercise aims to ensure that the operator’s recycled glycol meets the highest standards, demonstrating commitment to a circular economy and setting a precedent for the broader industry.

Recycled amines

The move to recycle glycol follows NoviqTech’s recent integration of its Carbon Central platform to tokenise recycled amines for GRR using Hedera’s groundbreaking distributed ledger network.

The expansion of GRR certification to include amines and glycol marks a significant milestone for scaling sustainability practices in industrial recycling.

NoviqTech regards the tokens as a pioneering step in the integration of blockchain technology with sustainable resource management and expects partnerships such as the one with GRR to drive the rapid adoption of blockchain-powered certification across the global energy sector.

Sustainability standards

Glycol recycling builds on the initial success of the Carbon Central platform at GRR’s Northern Territory operations base and reinforces its role in delivering high levels of transparency, traceability and compliance with global sustainability standards.

NoviqTech charges a monthly subscription for access to Carbon Central with an additional fee for each token minted, thereby allowing revenue to scale continually in line with the growth of customer operations.

Industry research valued the global circular economy market size at $934.5 billion in 2023 and forecasts it to reach $3,199.5b by 2033, with Asia Pacific to grow the fastest over this period.

Doubling down

NoviqTech chief executive officer Freddy El Turk said the company was doubling down on its efforts in the global circular economy space, helping industrial recyclers and their clients unlock new value through verifiable carbon reduction and circularity claims.

“GRR’s industry expertise and extensive client base makes it the ideal partner to drive this transformation,” he said.

“This initiative, backed by the leadership of a major Australian LNG operator, is more than a milestone—it is a signal to the entire sector that verifiable sustainability is the way of the future.”