12.06.2023-Demo Day-Noya

JOHN GREENFIELD: And thanks, everybody, for joining us this morning. It's really great to be with you. So I'm going to start sharing my screen here.

As Ariadna, mentioned, my name is John Greenfield, and I am have recently joined a startup called Noya. My co-founders, Daniel and Josh. Daniel is a UCSD engineer. And Josh is our MIT connection. He did his engineering degree at MIT.

We are focused on high quality, and extremely important, scalable carbon removal. So the problem that we are focused on is a really global one and a societal one.

So from our perspective, and this is validated by lots of folks with more degrees than I have, the problem that we're facing is that we can't limit global warming to approximately 1.5 degrees C without including carbon removal. So we have already surpassed the point at which we need to bring some of that carbon out of our atmosphere. And as we look forward to 2030, 2040, and 2050, we need a lot of it.

So from where our industry stands today, we need to grow to about 5 to 10 gigatons per year. What that translates to in terms of growth over that time period is about 50% year over year growth for 20 plus years. So significant, significant growth.

What is the solution that Noya is focused on? So we are a DAC, or direct air capture, meaning we pull carbon directly out of the air. That is entirely focused on cost, bringing down the cost as quickly as possible, on scale, and on flexibility. And we can talk about-- happy to answer questions about what and how each of those points make sense.

Why are we able to do this relative to other similar solutions or potentially similar solutions? A couple of the key points are down here on the left of the slide. We only require one input, meaning we only require electricity to operate.

That means that we can be very low cost. We can reduce the amount of capital expense that's required for the facilities. And we can turn our process on and off quite quickly. That becomes important when you're thinking about access to renewable energy.

Number two, our process runs entirely on abundant materials. This means that you can get them on all six continents around the world, at least six continents that we plan on building facilities in.

And then number three, the process and the architecture that we've built is extremely modular, which means that as we prove out some of the key proof points, we can scale it up really quickly.

And number four, because of these other three pieces, it's very-- we are very, very flexible in terms of determining exactly where the location is. And what that means is we can optimize for low power, clean power, and even behind the meter applications with, for example, renewable energy generation.

In terms of traction. So we enjoy the great support of some sophisticated early carbon removal buyers, Shopify and Stacy and her team. The quote mentioned here, have put their trust, actually were our very first commercial customer.

Watershed is another example of an early carbon removal buyer. And we are now in the process of having discussions with many more about coming to join us at this point and supporting our further growth.

So the ask for all of you. We would like you to join us and accelerate the world's transition to carbon negativity. It's something that we need to start right now. We needed to start it even a couple of years ago, and we need to grow really significantly, as noted on the first slide.

The number one ask is if your organization has net zero commitments and is interested in helping to meet those with high quality carbon removal, and are thinking about that topic right now, are focused on finding the right partners, we would really, really like to talk to you and think about potential opportunity to work together.

Number two and number three. Other aspects of potential partnership. Working on the project development side, these are large infrastructure projects. So if your organization has experience building. Those financing those, also interested to talk to you.

And then finally, power and process. So again, all of the key ingredients that are going to be required in order for us to be successful. Thanks very much for your time. Look forward to answering questions and please feel free to reach out on email or on LinkedIn. Thanks very much.

ARIADNA RODENSTEIN: Thank you very much, John. Again, a reminder to post questions in the chat for Noya, and I will start with one of those. How are you unique among other carbon removal and direct air capture companies? A little more specifically.

JOHN GREENFIELD: Yeah, so on the second slide, I mentioned a couple of those points. The number-- it's a combination of things. But one of the really important ones, the two really important ones are that we're using a very proven process with abundant materials.

So a process and materials that have been proven in other applications. What does that mean? It means that we have access to an abundant supply of them. Which means that from a supply chain perspective but also from a cost perspective, they are very de-risked.

But also from a cost perspective, we know what it's going to require at scale. And as a result of that, we can forecast and expect to bring down our cost more quickly as a result of using those abundant materials, and then the electricity only approach feathers into that as well.

ARIADNA RODENSTEIN: OK. And how, would you say, is the public sector and governments influencing this area?

JOHN GREENFIELD: Yeah. I really like that question and appreciate that both of them are mentioned in the same breath. So on the government side, the US government has recently announced its intent to be one of the first carbon removal purchasers, so they're running what they call a prize right now to do that.

That's certainly one place that the government can prove early demand for these technologies. In addition, there's a portion of the Inflation Reduction Act. There's a credit called 45Q, which provides a 200 per ton-- $200 per ton credit for carbon capture and permanent storage, paired with permanent storage. So from both of those perspectives, government is certainly helping, US government, specifically.

And then on the corporation side, some early buyers that have the ability to be catalytic in this market have stepped up and made really large commitments. Stripe and Frontier is a good example. On the finance side, JP Morgan is a very good example. Microsoft has also been very, very vocal.

So some of those early buyers stepping up and making commitments and working with companies like ours in order to get them to the next stage of development is what has-- what we've seen work so far.