ESG Today reports that Noya was founded back in 2020 by CEO Josh santos and CTO Daniel Cavero with the aim to develop a direct air carbon capture solution using affordable and easily-accessible materials. Furthermore, the fact that the system is modular and scalable was another bonus for customers opting for the company's solution, which plans to deploy a commercial testing procedure this year.

To help the industry, Noya will make partnerships with clean energy companies and industry members that specialize in carbon storage solutions. Also, executives also stated that the San Francisco-based startup will offer carbon removal credits for companies that want to achieve a net-zero footprint. Shopify and Watershed are among the firms that already purchased Noya's carbon credits.

Company CEO Josh Santos stated that "by developing and deploying Direct Air Capture technology, we will be able to scale carbon removal to the volumes and costs needed to meet global climate targets. We are deeply committed to removing carbon dioxide from the atmosphere to help restore our shared planet."

Fifty Years and Climate Capital are among the ventures that contributed to the 11 million USD investment.