New Carbon Removal Tech via Industrial Cooling Towers — Josh Santos, CEO of Noya

Led by CEO Josh Santos, Noya is bringing carbon-negative technology to market by retrofitting existing cooling towers to provide no-cost carbon removal technology to large facility managers. The company generates revenue by selling upcycled food-grade carbon dioxide to the beverage industry and has established revenue-sharing agreements with its facility manager partners. To learn more about Noya visit their website.

Josh highlighted Noya's mission and capital-light approach to carbon capture and sequestration saying, "Noya’s fundamental aim is to combat climate change by removing carbon dioxide from the atmosphere by means of retrofitting existing infrastructure with carbon removal technology. The upfront capital costs of constructing new carbon removal technologies are substantial. Instead, our approach is to retrofit existing industrial cooling towers by adding a chemical blend into the water that sits within these towers. Consequently, this water becomes a sponge that sucks carbon dioxide out of the air. There are two million cooling towers in the United States so we have a lot of work ahead of us."

Josh noted two key ingredients in Noya's pitch to facility managers, saying "It has been important to create incentive alignment and appeal to the inherent wants and needs of these facility managers. One of these needs is to improve the sustainability of their facilities. There has been a big push to implement LED lighting and address other forms of low-hanging carbon fruit, but ultimately there is a need to do more. Our retrofit offers a carbon-negative contribution to the larger push to meet sustainability commitments. The second aspect of this incentive alignment has been our business model which requires no capital or operating expenditure from the facilities that we retrofit. Instead, we finance the installation of the equipment and cover operational costs in exchange for getting access to these large carbon sinks. On the back end, we give facility owners 10% of the revenue that we generate from the sale of the consequent carbon dioxide concentrate."

Here is the transcript summary of the podcast.

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