Ledger technology specialist NoviqTech (ASX: NVQ) enters the new quarter in a strong financial position as it cements new global partnerships and moves towards increasing revenues.
NoviqTech increased its total holdings of Hedera HBAR tokens to 1.91 million during the December quarter, raising its combined cash and HBAR assets to more than $1.73 million.
The company is set to receive more than $100,000 from its European TROEF project, which aims to accelerate the transition to renewable energy in built environments by developing a new energy ecosystem.
NoviqTech strengthened its commitment to Hedera’s groundbreaking distributed ledger technology, which aligns with its mission to deliver transparent and efficient ESG solutions.
Hedera’s technology was recently deployed in the digital identity platform WISeKey’s next-generation satellites, launched aboard a SpaceX rocket.
The company also highlighted recent partnerships with gemstone certification leader World Gemological Institute and luxury Web3 fintech Vaultik to tokenise approximately $3 billion worth of diamonds and other luxury items on the Hedera blockchain network.
NoviqTech bolstered its balance sheet during the quarter by raising $1.05m through a strategic placement that was supported by global innovation leader Tony Guoga (Tony G), chair of Solana Strategies Inc.
The funds are being used to drive innovation in blockchain technology, with a particular focus on sustainability and transparency.
In addition to Tony G’s $250,000 investment, NoviqTech attracted backing from a range of blockchain and cryptocurrency professionals.
NoviqTech is preparing to add its shares to the OTC market in the US, with the listing on track for early February.
Trading in US dollars during US market hours will support the company’s goal of expanding its market reach and enhancing liquidity.
The listing also positions NoviqTech to capitalise on the growing momentum of the blockchain and cryptocurrency markets in the US, which are expected to continue expanding through 2030, particularly within the public cloud segment.
NoviqTech has expanded its partnership with Global Resource Recovery (GRR), transitioning from a client relationship to a strategic alliance.
GRR will now act as a channel partner for NoviqTech’s Carbon Central platform within Australia’s energy industry.
NoviqTech believes the global oil and gas sector presents significant growth opportunities for digital solutions, with increasing regulatory demands for emissions transparency in Australia further driving the need for Carbon Central’s digital tools.
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