Blockchain-backed carbon removal marketplace expands its carbon assets by collaborating with one of the world’s largest agricultural companies
SEATTLE--(BUSINESS WIRE)--#carbonremoval--Nori today announced a collaboration with Bayer’s ForGround platform to scale Nori’s unique carbon removal offset marketplace.
“With this partnership, Nori looks forward to adding hundreds of thousands of Bayer-owned carbon removal offsets,” said Paul Gambill, CEO and cofounder of Nori. “Bayer’s recent announcement of its ForGround by Bayer platform makes our collaboration an ideal way to grow our marketplace and enhance our impact.”
ForGround by Bayer, through its first-of-its-kind platform, is designed to support farmers in their journey through the consideration, adoption, expansion of, and compensation for regenerative agriculture practices through a suite of different programs. In addition, Bayer is also looking to collaborate with companies like Nori that help mitigate climate change by turning farmers’ carbon friendly practices into carbon removal offsets.
“Key to Bayer’s vision is collaborating with innovative companies that are committed to advancing the carbon removal marketplace,” said Leo Bastos, Head of Global Commercial Ecosystems at Bayer. “Through working with groups like Nori, we’re able to enhance the offering within our ForGround platform to potentially enable even more growers to benefit from their environmentally sustainable farming practices.”
Nori’s mission is to reverse climate change by developing market-driven solutions to remove the 1.5 trillion metric tonnes of legacy carbon dioxide from the atmosphere.
Since its founding in 2017, Nori has raised $4 million in seed financing led by Placeholder and a $7 million Series A led by M13. Nori’s strategic investors include Toyota Ventures, Cargill, and The Nature Conservancy. For more information, go to www.nori.com.
Bayer is a global enterprise with core competencies in the life science fields of healthcare and nutrition. Its products and services are designed to help people and the planet thrive by supporting efforts to master the major challenges presented by a growing and aging global population. Bayer is committed to driving sustainable development and generating a positive impact with its businesses. At the same time, the Group aims to increase its earning power and create value through innovation and growth. The Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2021, the Group employed around 100,000 people and had sales of 44.1 billion euros. R&D expenses before special items amounted to 5.3 billion euros. For more information, go to www.bayer.com.
The Bayer ForGround platform supports farmers in their journey through the consideration, adoption, expansion of, and compensation for regenerative agriculture practices through a suite of different programs.