What is a Novoton?
Our product is called Novoton.
A Novoton is a tonne of Carbon Dioxide removed from the atmosphere via one or more of both nature and technology based methods, where the percentage component of each removal method in a Novoton has been optimized to optimize the cost of removing one tonne of carbon dioxide.
For e.g. if a Novoton has 20% Technology component and 80% Nature based component, 0.2T of carbon dioxide will be removed using one or more technology based methods while the balance 0.8T will be removed using one or more nature based methods - thus optimizing the cost.
Novotons stand somewhere between technology and nature based removals as far as both cost and retirement time are concerned. The retirement times of Novotons are faster than nature based solutions but slower than technology based solutions.
We have more than one variant of Novotons. In each variant, the percentage component of each removal method is different leading to a longer or shorter retirement time. Novotons with higher technology components will retire fast while Novotons with higher nature based components, slow. Thus, Novotons are characterized by their retirement time.
The revenue from Novoton will be used to procure carbon removal from different carbon removal companies/technologies as per the composition of the Novoton. Thus Novotons shall also help scale and develop a dozen or two carbon removal methods - both technology and nature based solutions.
What is the envisioned change?
1. Carbon removal becomes economically viable for Businesses.
2. Via Novotons, businesses get a portfolio to invest in - Something they have been looking for!
3. Scale up a range of removal solutions - both technological and Natural