Published by Todd Bush on February 24, 2022
SEATTLE--(BUSINESS WIRE)-- Nori, which enables global engagement for mitigating and reversing climate change through carbon removal via its marketplace for carbon removals on Ethereum, announced that it has closed a $7M Series A round led by M13, with Toyota Ventures joining and participation from Placeholder.
>> In Other News: FarEye Introduces New Sustainability Capabilities to Minimize CO2 Emissions Across Delivery and Fulfillment of Orders
"The immutable nature of the blockchain establishes transparency for credits, providing rewards for carbon removal to its community and establishing significant opportunity for our development team, which will be doubling in 2022 as we hire aggressively."
Nori focuses on carbon removal rather than emissions reductions or avoidances. Its innovative marketplace provides substantial financial rewards to farmers, who use regenerative farming practices that involve soil carbon sequestration. The 10 farmers in its marketplace have already been paid more than $1M USD for their carbon removal credits. Soil sequestration is the first of Nori’s carbon removal offerings, with additional methodologies coming to market in the future.
Nori solves a pervasive accounting problem in the carbon offset industry by minting their carbon removals on Ethereum as NFTs. The company has already attracted mainstream attention, most recently partnering with Julian Lennon’s White Feather Foundation, which is using a portion of the proceeds from his auction of Beatles iconography, including Paul McCartney’s handwritten notes for Hey Jude, to purchase carbon removal from Nori.
Latif Peracha, M13 Partner, said: “There is no problem more urgent than what Nori is tackling: carbon removal. We’ve been looking to invest in companies that leverage blockchains to meet real-world needs and are proud to back Nori who is both removing carbon and cleaning up carbon-offset accounting with the Ethereum blockchain. Nori’s marketplace is proven; farmers are getting paid for removing carbon with regenerative farming, and corporations, SMBs and NFT companies alike are turning to Nori to verify their efforts to run their businesses sustainably."
The upcoming launch of Nori’s token, NORI, will solve another problem in the carbon offset industry: establishing the true price of a tonne of carbon dioxide. While developing the NORI token, Nori has already established a dedicated community around carbon removal that connects regenerative farmers, large businesses, crypto-native NFT artists and crypto enthusiasts, NFT marketplace partners such as Rarible, and anyone hoping to take meaningful climate action.
Lisa Coca, Climate Fund partner at Toyota Ventures, said: “At Toyota Ventures, our Climate Fund focuses on investing in early-stage startups that can have real impact on carbon neutrality, while delivering value to its customers. Nori is pioneering a much needed step-change in the carbon removal industry by building a transparent marketplace and we’re excited to back the company in its mission to ensure that large-scale carbon reductions come to fruition.”
Nori is a blockchain-backed carbon removal marketplace based in Seattle, Washington. Founded in 2017, Nori is on a mission to reverse climate change by removing billions of tonnes of CO2 from the atmosphere. Currently, Nori sources carbon removal by supporting farmers adopting regenerative agriculture projects that are sequestering CO2 from the atmosphere. In the future, Nori will enable various methods of carbon removal. Nori provides transparency and protects against double counting by minting their carbon removals on the Ethereum blockchain.
Visit nori.com.
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 💸 Prometheus Slashes Cost of Carbon Capture by More Than 80%, Unlocking Affordable E-Fuels as a New Source of 24/7 Carbon Neutral Power 🌱 Pinwheel Opens Global Call for High-Impa...
Inside This Issue ⚡ The Energy Source That Could Survive Trump’s Attack on California’s Green Ambitions 🌍 Carbon Business Council Expands European Footprint to Support the Continent’s Carbon Remov...
Inside This Issue 💥 North America's $170B Hydrogen Surge: Why 2025 is the Tipping Point ⚙️ First Centrifugal on Board Carbon Capture System Launches 🌾 AgriCapture Rice Methane Reduction Project R...
KLEEN HY-DRO-GEN INC., Announces Launch of World’s first Zero-Emissions Hydrogen Furnace
Hydrogen Tech Company to list on the Canadian Securities Exchange in September 2025 under the Ticker: KLN TORONTO (GLOBE NEWSWIRE) — KLEEN HY-DRO-GEN INC., a Canadian clean energy company, has off...
Following the successful completion of a field demonstration, the new joint venture seeks to develop projects to generate up to 50K metric tons of green methanol annually by 2030 WOBURN, Mass.– Au...
US Player’s Direct Air Capture Hub Moving Toward Operations
Capture trains for Occidental's Stratos shift to commissioning ahead of 2025 startup Occidental’s first direct air capture (DAC) hub is set to begin capturing carbon dioxide later this year, Occid...
Landus Creates New Premium Opportunities with Clean Fuel Regulation Initiative
Farmers can easily enroll their 2025 crop in the program starting in August DES MOINES, Iowa / PRNewswire/ -- Iowa farmers have a new market opportunity for their 2025 soybean crop. Landus is expa...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.