Noya, a company specializing in direct air capture for carbon removal, has recently raised $11 million in a Series A funding round led by Union Square Ventures and Collaborative Fund. With this investment, Noya plans to expand its team, testing and manufacturing capabilities and launch its first commercial pilot later this year.
In 2020, Josh Santos (CEO) and Daniel Cavero (CTO) established Noya PBC, which aims to expedite the world’s shift towards carbon negativity using advanced Direct Air Capture technology that is both scalable and affordable.
Fred Wilson from USV and Sophie Bakalar from Collaborative Fund joined the company’s board as part of the investment. Fred Wilson believes direct air capture can lead to carbon removal, and Noya’s process can become the leading direct air capture approach. Sophie Bakalar states that Noya is building a technological foundation for global sustainable change and scaling DAC technology at a rate they’ve never seen before.
Noya has also signed a carbon removal agreement with a confidential university endowment, which will help the endowment reach its sustainability goals with high-quality, permanent carbon removal credits.
The company also said that it is committed to scientifically-rigorous methodology and third-party validation of its production of carbon removal credits to ensure that its claims are credible.
