Nori

Nori is a Seattle-based company founded in 2017 that operates a blockchain-powered marketplace for carbon removal. The company's primary focus is on facilitating the removal of carbon dioxide from the atmosphere through regenerative farming practices. Nori's platform enables farmers to earn financial rewards for implementing sustainable agricultural methods that sequester carbon in the soil. These practices include no-till, strip-till, and cover cropping. The carbon removal is quantified and verified by independent third parties, after which Nori issues Nori Carbon Removal Tonnes (NRTs), with each NRT representing one tonne of CO2 removed from the atmosphere for a minimum of 10 years.

Nori's marketplace allows individuals and businesses to purchase these carbon removal credits, directly supporting farmers' efforts to combat climate change. The company uses blockchain technology to ensure transparency and prevent double-counting of carbon credits, a problem that has plagued traditional carbon offset markets. Initially built on the Ethereum blockchain, Nori has since migrated its operations to the more energy-efficient Polygon network to reduce its environmental impact.

In addition to its carbon removal marketplace, Nori has developed its own token, NORI, which is designed to facilitate carbon credit transactions and provide a reference price for carbon removal. As of 2024, Nori had enabled the removal of over 125,000 tonnes of carbon, channeling approximately USD 2 million to participating farmers. The company aims to scale its operations to address the global need for removing billions of tonnes of CO2 from the atmosphere annually to meet climate mitigation targets.

Key customers and partnerships

Nori has established partnerships with several notable organizations to expand its carbon removal marketplace. In October 2022, Nori announced a collaboration with Bayer's ForGround platform. This partnership aimed to support farmers in adopting and expanding regenerative agriculture practices.

The company has also attracted attention from various sectors. In 2022, Nori partnered with Julian Lennon's White Feather Foundation, which used proceeds from an auction of Beatles memorabilia to purchase carbon removal credits through Nori's platform. Additionally, Nori has engaged with Web3 companies and platforms, including SuperLayer, ClimateCandy, The Sandbox, and Unstoppable Domains, to integrate carbon removal purchases into their applications and services.

Nori's customer base spans from individual buyers to large corporations seeking to mitigate their carbon footprint. The company's approach has appealed to climate-conscious businesses looking for transparent and verifiable ways to support carbon removal efforts. As of 2024, Nori had over 10 farms enrolled in its program, demonstrating the growing interest from the agricultural sector in participating in carbon removal initiatives through regenerative farming practices.