The Ethereum blockchain isn’t exactly the first thing that springs to mind when you’re thinking of solutions to climate problems, but that’s what Nori has built as an engine to encourage farmers to use carbon-negative farming methods to pull carbon from the air and put it back into the ground. The company just raised $7 million of venture capital to shed some of the painful irony inherent in running carbon removal on one of the most wasteful blockchains in the world by moving its operations off Ethereum and onto Polygon. The company is also exploring new sources for carbon capture, further building its carbon removal marketplace, and releasing a token to facilitate it all.
Nori focuses on carbon removal rather than emissions reductions or avoidances. Its marketplace provides financial rewards to farmers, who use regenerative farming practices that involve soil carbon sequestration. Soil sequestration is the first of Nori’s carbon removal offerings, with additional methodologies coming to market in the future.
To date, the company has around 10 farms on its program, has distributed $1 million to its farmers and has seen around 2,200 transactions from buyers for carbon credits.
Continue reading: https://techcrunch.com/2022/02/24/nori-series-a-carbon-blockchain/
Nori focuses on carbon removal rather than emissions reductions or avoidances. Its marketplace provides financial rewards to farmers, who use regenerative farming practices that involve soil carbon sequestration. Soil sequestration is the first of Nori’s carbon removal offerings, with additional methodologies coming to market in the future.
To date, the company has around 10 farms on its program, has distributed $1 million to its farmers and has seen around 2,200 transactions from buyers for carbon credits.
Continue reading: https://techcrunch.com/2022/02/24/nori-series-a-carbon-blockchain/
