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Nori isn't accepting new investments

Nori’s deadline was January 1, 2019

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Nori

Nori is on a mission to reverse climate change
Social Impact Marketplace Blockchain Combat Carbon
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$145,548
Raised
368
Investors
Successfully funded and closed on January 1, 2019.
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Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Nori LLC. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
Nori Token DPA (Late Stage) Nori White Paper.pdf
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Hear from some of the 368 investors in Nori


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Nori is a marketplace for reversing climate change

Nori is a blockchain-based marketplace to remove carbon dioxide from the atmosphere. The NORI token works as a medium of exchange for Carbon Removal Certificates (CRCs).

Deal highlights

  • Most carbon markets and efforts to fight climate change are set on reducing CO2 pollution; Nori is different and wants to completely reverse climate change by removing CO2 from the atmosphere
  • Economists and policymakers agree: we need a price on carbon. The NORI token delivers that for the world
  • Featured in Fast Company, GreenBiz, GeekWire, New Food Economy, CleanTechnica, Virgin Unite, and Sea Change Radio
  • Nori's Reversing Climate Change podcast has over 35 episodes and is the leading podcast on carbon removal
  • Founders and advisors have more combined experience in carbon removal than nearly any other team on earth, having developed cutting-edge technologies and founded key initiatives in the space

The Nori marketplace is being built right now and we project to launch both the market and tokens for real carbon removal transactions in Q1 of 2019. This offering is for Token DPAs, a convertible security that can be converted to NORI tokens if certain terms and conditions are met.

Nori puts the power to reverse climate change in your hands

We are all affected by climate change. And most people feel like we’ve run out of options for dealing with it. Many have tried lobbying their government for action, but the response has been slow and insufficient.

Nori is putting the power to reverse climate change back into your hands. Our marketplace incentivizes people to remove carbon dioxide from the atmosphere. By buying our tokens, you can use them to pay others for removing CO2.

How we enable carbon removal

One NORI token can be used to buy one Carbon Removal Certificate (CRC), representing one tonne of CO2 removed. The person who removed the CO2 gets paid with that NORI token and can trade that for cash or any other cryptocurrency. By creating a marketplace where people can easily pay for carbon dioxide removal, Nori will incentivize more people to remove carbon dioxide and ultimately reverse climate change.

The Nori marketplace participants

Suppliers of CRCs get paid in NORI tokens for how much CO2 they’ve removed. It’s a way to monetize activities they might already be doing or inspire new entrepreneurs and businesses to invest in carbon removal.

Verifiers of CRCs vet carbon removal claims made by suppliers, and in turn get new opportunities for expanding their businesses as they innovate more accurate methods for verifying CO2 has been removed.

Buyers of CRCs get verified certificates that prove carbon dioxide has been removed. They can use these certificates for meeting carbon reduction obligations and for corporate social responsibility reports.

The NORI token

Per leading economists and policymakers, it’s clear that we need a price on carbon. The NORI token delivers that for the world. The price of NORI should be similar to how the Brent Crude Oil reference price functions for oil prices. It’s one single price that reflects true market demand for carbon dioxide.

One NORI token will always pay for removing one tonne of CO2 from the atmosphere. The price of the NORI will change over time as the demand for removing CO2 changes.

As the price of NORI increases, so too does the incentive for people to remove carbon dioxide. We envision an entirely new industry of businesses, jobs, products, and overall value being created to remove CO2 from the atmosphere. The more the NORI token is worth, the more people will take action to reverse climate change. 

How carbon removal works

There are already many different methods available that can remove carbon dioxide from the atmosphere and safely store it so that it no longer impacts global warming. We group them into three broad categories: ecological, industrial, and hybrid.

Ecological

Farmers can change their agricultural practices to store more carbon in soils. Forest managers can grow trees that sequester the CO2. Kelp and seaweed can be grown in waters all around the world and then dropped to the bottom of the ocean.

Industrial

Technology like direct air capture can be used to create artificial trees that absorb CO2 from the air. That captured CO2 can be pumped underground where it will turn into rock, or it can be used to manufacture products like plastics, tennis shoes, and carbon fiber.

Hybrid

Hybrid approaches combine both ecological and industrial methods. Crops can be grown that are burned in power plants for energy, and their emissions are captured for storage in underground reservoirs. Minerals like olivine can be forced to absorb CO2 through a process called enhanced weathering. Construction materials like carbon-negative cement and sustainably-harvested timber can be used for buildings.

Market opportunity

Nori’s first carbon removal methodology

While Nori plans to enable a suite of carbon removal technologies in its marketplace, we will initially focus on carbon removal through soils. Agricultural practices have contributed to over one-third of the CO2 emitted into the atmosphere since the Industrial Revolution. By changing to practices of no-till, cover-cropping, and crop rotations, farmers can not only store more CO2 in their soil, but also better retain water and grow crops with higher yields. Soil carbon removal comes with an incredible range of benefits to the farmer, and so an incentive to participate in the Nori marketplace already exists.

Traction

Shortly after forming the company, we entered and won the ConsenSys Blockchain for Social Impact Hackathon in the Energy & Environment category.

In April 2018, Nori hosted the first-ever Reversapalooza conference in Seattle, WA. We brought together over 100 of the world’s leading experts in carbon removal, regenerative agriculture, and carbon markets to discuss the Nori market design. Footage of the entire conference is available on the Nori YouTube page.

Since Reversapalooza, we’ve been gathering feedback from market participants on our methodology designs in a series of webinars found here.

Our podcast, Reversing Climate Change, is the only podcast dedicated exclusively to a discussion around carbon removal. We’ve had over 19,000 downloads since we launched it in December 2017.

Read more:

  • Nori White Paper
  • Website
  • Blog 
  • Reversing Climate Change podcast
  • Facebook
  • Twitter
  • YouTube

Nori in the media

Fast Company: This “carbon removal marketplace” will make buying offsets easier

GeekWire: Seattle-based startup Nori is hoping to deliver what Al Gore, the Paris climate accord and others have not: a market-driven solution to not only curb greenhouse gas emissions, but actually remove planet-warming carbon from the atmosphere.

The New Food Economy: With a blockchain-based accounting platform, Nori can prove to buyers that the credits they purchase are retired and not resold to other companies.

Timeline

Token allocation

We are creating a total of 500 million tokens. Six million are offered for sale in this crowdfunding campaign. Ninety-four million will be sold to accredited investors in a Regulation D securities sale.

Two hundred and fifty million tokens will be sold after the Nori marketplace has launched. One hundred million tokens will be held as an insurance reserve (to pay for invalid CRCs in order to make the buyers whole), and 50 million are reserved for the Nori team. These tokens for the Nori team will be distributed over a four-year vesting schedule.

Nori team


Nori founders, from left to right: Alexsandra Guerra, Christophe Jospe, Ross Kenyon, Jaycen Horton, Aldyen Donnelly, Paul Gambill, Paul Carduner

We come from a variety of backgrounds, but are all united in purpose and mission to reverse climate change:

  • Aldyen Donnelly has been an expert on carbon markets and carbon pricing for over 25 years, and she wrote the very first soil carbon contract for the Iowa Farm Bureau at the turn of the century.

  • Paul Carduner sold a startup to Facebook and went on to found and lead the engineering teams for Facebook’s photos and videos products.

  • Michael Leggett worked at Google and Facebook and led the design teams for Gmail, Google Inbox, Google Finance, and Facebook Messenger.

  • Christophe Jospe worked as the Chief Strategist at the ASU Center for Negative Carbon Emissions.

  • Paul Gambill founded the first-ever networking group for carbon removal and is an experienced software product manager.

  • Alexsandra Guerra is an environmental engineer who was inspired at the age of 15 by Nori advisor Klaus Lackner to build machines that could remove carbon dioxide.

  • Ross Kenyon is an experienced blockchain community expert and has worked with Tezos, Sweetbridge, ZenCash, Indiegogo, and Blue Frontiers.

  • Jaycen Horton is co-organizer of the largest blockchain meetup in Arizona, and previously worked as a lead software engineer for Dell and Wells Fargo.

Advisors

Our advisors are industry leaders in carbon removal, clean energy, and the technology industry at large.

Klaus Lackner, PhD

Dr. Klaus Lackner pioneered the concept of direct air capture more than 20 years ago. He is currently the Director of the Centre for Negative Carbon Emissions at Arizona State University.

Ramez Naam

Ramez Naam is a futurist, sci-fi author, and the Co-Chair for Energy and Environment at Singularity University at NASA Ames. His book, The Infinite Resource, was an early inspiration for Nori co-founder Paul Gambill.

David Addison

David Addison is the manager of the Virgin Earth Challenge, Sir Richard Branson’s $25M innovation prize for scalable and sustainable ways of removing carbon from the atmosphere.  

Bob Beth

Bob Beth has founded several software companies, and is currently a Special Advisor to the World Business Academy for their Clean Energy Moonshot in California.

Join Nori in the mission to reverse climate change!

Nori is building a marketplace so that anyone in the world can make it their mission to reverse climate change.

Use NORI tokens to offset your carbon footprint, invest in a new commodity for carbon removal, and spark the growth of a new industry that can restore the balance of carbon dioxide in the atmosphere. The more people buy and use NORI tokens, the more we collectively incentivise farmers, entrepreneurs, and businesses to remove carbon dioxide across the globe.


All contents of this deal page are qualified in their entirety by the latest Form C found here:


Forward Looking Statements: These materials contain forward‑looking statements concerning trends or anticipated results which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward‑looking statements are not guarantees of the Company’s performance and are subject to risks and uncertainties related to Company’s operations and business plan. These risks and uncertainties include, but are not limited to: the timely availability of financing on acceptable terms, the Company’s ability to develop and operate its business and network in a timely and efficient manner, the availability of future purchasers and sellers of carbon reduction credits, and other future events and conditions. These projections are based on a number of assumptions and estimates made by management and Company’s actual results or activities, or actual events or conditions, could differ materially from those projected in these materials.


Deal terms


Minimum investment

$10

The smallest investment amount that Nori is accepting.
Learn more

Funding goal

$1.07M

The maximum amount the offering can raise is $1.07M.
Learn more

Deadline
Nori needs to reach their minimum funding goal before the deadline ( ). If they don’t, all investments will be refunded.
Learn more
Type of security

Token DPA (Late Stage with Escrow)

If the campaign is successful, you’ll receive a Token DPA for your investment. The DPA is not equity or a token itself, but a loan that payable in tokens in the future, with interest.
Learn more

Maturity

3 years

The amount of time Nori has to pay out your investment in tokens. If the DPA isn't repaid with tokens after that time, it will be payable in cash with interest.
Learn more

Cash Interest

10%

The interest amount that will accumulate on your investment if it’s paid back to you in cash.
Learn more

Token Repayment Premium

15.75%

The interest amount that will accumulate on your investment if it’s paid back to you in tokens.
Learn more

Elective Partial Refund

50% of net debt amount before 2 years

How much you can get back of your investment if you choose to cancel the Token DPA before it’s paid back.
Learn more

How it works

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Nori LLC. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
Nori Token DPA (Late Stage) Nori White Paper.pdf

About Nori

Legal Name
Nori LLC
Founded
Oct 2017
Form
Washington LLC
Employees
0
Website
nori.com
Social Media
Headquarters
Google Map location of of Nori
2208 Northwest Market Street , Seattle, WA
Headquarters
2208 Northwest Market Street, Seattle, WA, United States 98107

Nori Team
Everyone helping build Nori, not limited to employees

Profile picture of Paul Gambill
Paul Gambill
Chief Executive Officer
In 2015, Paul Gambill established the first community dedicated to carbon removal called Carbon Removal Seattle. He has 6 years of experience in managing mobile and web application projects for clients including Nike, Showtime, Target, and Starbucks.
Profile picture of Christophe Jospe
Christophe Jospe
Chief Development Officer
Founded his first company, Carbon A List, in 2016 as a consultancy to provide investor research, carbon offsets, and fundraising support. Prior to that, he was chief strategist for the Center for Negative Carbon Emissions at Arizona State University.
Profile picture of Paul Carduner
Paul Carduner
Chief Technical Officer
After selling his second startup to Facebook, Paul spent five years building Facebook's photo and video teams. Prior to Nori, Paul took an interest in software for social good, working with Code.org to improve access to computer science education.
Profile picture of Aldyen Donnelly
Aldyen Donnelly
Director of Carbon Economics
Aldyen has been a small business developer and consultant for over forty years. In the mid-1990s, Aldyen started to work on market-driven strategies to reduce atmospheric carbon concentrations.
Profile picture of Alexsandra Guerra
Alexsandra Guerra
Director of Strategic Planning
Alexsandra is an engineer by study, and worked for three years at Southern California Edison (SCE) as a renewable energy integration engineer. While at SCE, she worked on data-driven projects focused on grid modernization.
Profile picture of Michael Leggett
Michael Leggett
Director of Product
Michael Leggett has built and led design teams at Google and Facebook for the last 13 years including Gmail, Android, Messenger, Ads, and more. Michael has a degree in Computer Science from Rice University.
Profile picture of Jaycen Horton
Jaycen Horton
Principal Blockchain Architect
Jaycen has worked as a Lead Software Engineer for Dell, ASU Decision Theater, and MapStory and Information Security Engineer at Wells Fargo. He is currently the co-organizer of the largest blockchain meetup in Arizona.
Profile picture of Ross Kenyon
Ross Kenyon
Lead Growth Strategist
Ross is a blockchain professional with a background in academia, filmmaking, and business development. He has worked with Tezos, Sweetbridge, ZenCash, Indiegogo, and Blue Frontiers.
Profile picture of Jacob Farny
Jacob Farny
Principal Product Designer
Jacob is a designer with consulting experience in a variety of industries such as health care, retail, and big data. He’s worked with big and small brands alike including Starbucks and Eddie Bauer. His education is in human computer interaction.
Profile picture of Richard Farman
Richard Farman
Software Engineer
Richard is a recent graduate as the first Computer Science major from Whitman College. With experience in Full Stack development and a background in Liberal Arts, he has a passion for designing and developing simple solutions for complex problems.
7 more team members
Paul Gambill
Chief Executive Officer
Christophe Jospe
Chief Development Officer
Paul Carduner
Chief Technical Officer
Aldyen Donnelly
Director of Carbon Economics
Alexsandra Guerra
Director of Strategic Planning
Michael Leggett
Director of Product
Jaycen Horton
Principal Blockchain Architect
Ross Kenyon
Lead Growth Strategist
Jacob Farny
Principal Product Designer
Richard Farman
Software Engineer

Press

Startup Spotlight: Nori is creating a blockchain marketpl...
GeekWire GeekWire
·
Aug 3, 2018

Seattle-based startup Nori is hoping to deliver what Al Gore, the Paris climate accord and others have not: a market-driv...

On blockchain bluster and beliefs
GreenBiz GreenBiz
·
Jul 27, 2018

My fascination with blockchain technology is somewhat of an inside joke at GreenBiz. I certainly have spent plenty of tim...

Earth Unscrewed: A Growing Movement
Virgin Virgin
·
Jun 14, 2018

Nori is the world’s only carbon dioxide removal marketplace. On this week’s podcast we hear from their Chief Executive Of...

This "carbon removal marketplace" will make buying offset...
Fast Company Fast Company
·
Jun 14, 2018

On his small family farm in Petaluma, California, Don Gilardi hopes to begin spreading compost over his pastures next yea...

Carbon farming isn't worth it for farmers. Two blockchain...
New Food Economy New Food Economy
·
Jun 4, 2018

When the price of Bitcoin skyrocketed at the end of 2017, analysts crunched the numbers and concluded that the cryptocurr...

Crypto-Carbon: Nori’s Paul Gambill
·
Apr 24, 2018

If you ask most people what they think of blockchain applications or cryptocurrency, the response is usually a blank star...

Nori: Fighting Global Warming With blockchain
CleanTechnica CleanTechnica
·
Apr 19, 2018

Nori, a company which recently emerged from stealth, is creating the NORI token. It's a cryptocurrency token that represe...

Show all
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Nori

Nori successfully raised $145,549 from 368 investors on January 1, 2019
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Vernon Trenniss, Steve, Peter, Seth, Josh, and 363 others invested. 100 Reviews
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