DevvStream Pursuing Big Deals in a Rapidly Expanding ESG Market
An Emerging Markets Sponsored Commentary
ORLANDO, Fla., Aug. 17, 2023 (GLOBE NEWSWIRE) -- Not so long ago we introduced our readers to the prospect of DevvStream Holdings Inc. (CBOE: DESG) (OTCQB: DSTRF) (FSE: CQ0) heading to the NASDAQ and how transformative such an ascendence could be for the Company and its shareholders.
Meanwhile, as observers like us wait with baited breath for any news on the uplisting - a move that could put the Company on the radar of a massively expanded audience of brokerages and funds, investors and analysts - blockbuster news has just been posted.
The timing of this potentially catalytic event could not be better.
As you may recall, DevvStream is an innovative technology-based Environmental, Social, Governance (ESG) company that advances the development and monetization of environmental assets, with an initial focus on carbon markets. DevvStream helps these organizations meet their net zero goals by providing them access to high-quality carbon credits.
And it just announced that it has landed an enormous deal to do just that, a deal that could bring the kind of credibility and frankly, the attention that a new kid on the NASDAQ block can use as a coming out party.
The headline of the news is a head turner:
“DevvStream Announces Multi-Year Agreement with Multinational Energy Company for the Sale of Compliance Carbon Credits”
But the details are even better when you dig down in the release a little.
According to the release, DevvStream has signed a multi-year carbon credit purchase agreement with a Canadian subsidiary of a large investor-owned energy company. Under the terms of the Agreement, the Customer will purchase 250,000 carbon credits generated by DevvStream. The first delivery of carbon credits is expected by December 31, 2024, and final delivery is expected by 2026, with an allowance for an optional 400,000 additional credits to be purchased beyond that window.
To give some perspective as to the potential impact of this deal, if fully realized, one carbon credit has a monetary value on the compliance and voluntary carbon markets of $40 to $80, on average.
The revenue potential is compelling, intriguing, and at minimum a reason to stay tuned. It also shows the market that the Company is a business and not a business plan, which of course also gives the sales team and C-Level a case study with which to whale hunt. (Of course, that’s a whale metaphor... ESG company and all.)
Notably, this particular deal comes on the heels of another significant announcement where the Company celebrated a memorandum of understanding with Bluegrace Energy to manage an 8.3-million-hectare Amazon rainforest protection project in Bolivia.
We are also eagerly awaiting news as to next steps for that enormous project with tremendous potential.
And collectively, DevvStream is truly positioning itself in an industry that is inarguably rapidly expanding.
A very recent independent forecast posits that the international carbon credit market could explode in a very short time frame.
Here’s a quick excerpt from that forecast, citing increasing regulatory and stakeholder pressure on global corporations to lower emission vis-à-vis carbon credits:
“The global carbon credit market traded value was US$978.56 billion in 2022. The market is expected to reach US$2.68 trillion by 2028. at a CAGR of 18.23% during the forecast period of 2023-2028.”
$2.68 TRILLION in five years???
It’s a staggering number for sure and it speaks to the opportunity for a Company which is already pursuing multiple revenue lines in that same rapidly expanding industry, which is looking to couple future successes with the greatly increased audience that a NASDAQ listing could provide, and which, lost on no one on our editorial team, is helping to save the planet one carbon credit at a time.
About DevvStream Holdings Inc.:
DevvStream is a technology-based ESG company that advances the development and monetization of environmental assets, with an initial focus on carbon markets. DevvStream works with governments and corporations worldwide to achieve their sustainability goals through the implementation of curated green technology projects that generate renewable energy, improve energy efficiencies, eliminate or reduce emissions, and sequester carbon directly from the air—creating carbon credits in the process.
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