Nori, a Seattle-based carbon removal platform, has signed a supply partnership with pharmaceutical and biotechnology company Bayer that will bring hundreds of thousands verified CO2 removal offsets to Nori’s marketplace. The partnership will happen through Bayer’s regenerative agriculture program ForGround.
Since its establishment in 2017, Nori has enabled 17 farmers to earn additional revenue and has paid out $1.8 million for the 117,000 tonnes of carbon they removed using regenerative agriculture methods across 35,387 acres of land. The new partnership with Bayer and its network of partner farmers will allow Nori to expand the land area associated with its marketplace ten times.
The company expects that the collaboration will allow them to reach five to seven times more Nori Carbon Removal Tonnes (NRTs) (One NRT is one tonne of removed CO2 equvalent stored for a minimum of ten years), thus expanding supply significantly.
“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.”
Most of the farmers in the Bayer Carbon Program live in the Midwest U.S. and grow corn, soybeans and/or wheat in a rotation. They use regenerative agriculture practices like no-till, strip-till and/or cover crops on their enrolled fields.
“Bayer’s focus on [regenerative agriculture] with the recent announcement of its ForGround by Bayer platform makes our collaboration an ideal way to grow our marketplace and enhance our impact,” said Paul Gambill, CEO and co-founder of Nori.