Noya

About the solution

Founded by entrepreneurs Josh Santos and Daniel Cavero in 2020, Noya has developed proprietary technology to remove excess CO2 from the atmosphere. The solution captures atmospheric CO2, and once captured, the CO2 is safely transported and sequestrated. By designing an end-to-end Monitoring, Reporting, and Verification (MRV) system, Noya provides complete transparency into their process, ensuring accountability every step of the way.

Noya sells the high-quality carbon credits it generates to corporate buyers with ambitious sustainability goals. To date, Noya has already signed binding carbon removal contracts with several companies, including planet-forward industry leaders like Shopify and Watershed.

To reach net-zero by 2050, about 51 billion annual tons of greenhouse gas emissions will need to be curbed, avoided or removed globally. According to the IEA, direct air carbon capture will contribute around 1 billion tons to the total reduction goal by 2050, whereas such technologies currently only account for the removal of thousands of tons. Around half of the reduction capacity needed for 2050 is expected to come from new technologies, currently at the demonstration or prototype phase. It is therefore critical to invest in new carbon capture technologies. EQT’s experience owning and successfully operating industrial technology companies, broad network of experienced executives and strategic partners and commitment to advancing sustainability goals will contribute to Noya’s positive impact.

EQT Foundation's investment

EQT Foundation’s investment will allow Noya to expand testing and manufacturing capabilities, hire new team members and deploy their first commercial pilot later this year. EQT Foundation will also aim to assist management in navigating the strategic planning process and roll-out of commercial scale projects.