DevvStream (NASDAQ: DEVS) has announced the purchase of 2.5 million carbon credits through share-based transactions, increasing its total portfolio to 3.7 million credits. The newly acquired credits span multiple categories including nature-based, biochar, and renewable power. The purchase timing leverages current market conditions, including price declines and decreased credit issuances, amid projections of carbon market growth to $2.68 trillion by 2028. Additionally, the company announced board changes with Carl Stanton and Wray Thorn of Focus Impact Partners joining as directors, with Stanton assuming the Chairman role, replacing departing members Tom Anderson and Ray Quintana.
DevvStream (NASDAQ: DEVS) ha annunciato l’acquisto di 2,5 milioni di crediti di carbonio tramite transazioni basate su azioni, aumentando il suo portafoglio totale a 3,7 milioni di crediti. I crediti appena acquisiti coprono diverse categorie, tra cui quelli basati sulla natura, biochar e energia rinnovabile. Il momento dell’acquisto sfrutta le attuali condizioni di mercato, inclusi i cali dei prezzi e una diminuzione delle emissioni di crediti, in vista di proiezioni di crescita del mercato del carbonio a 2,68 trilioni di dollari entro il 2028. Inoltre, l’azienda ha annunciato cambiamenti nel consiglio con Carl Stanton e Wray Thorn di Focus Impact Partners che entrano come direttori, con Stanton che assume il ruolo di Presidente, sostituendo i membri uscenti Tom Anderson e Ray Quintana.
DevvStream (NASDAQ: DEVS) ha anunciado la compra de 2.5 millones de créditos de carbono a través de transacciones basadas en acciones, aumentando su cartera total a 3.7 millones de créditos. Los créditos adquiridos recientemente abarcan múltiples categorías, incluyendo los basados en la naturaleza, biochar y energía renovable. El momento de la compra aprovecha las condiciones actuales del mercado, incluyendo caídas de precios y una disminución en la emisión de créditos, en medio de proyecciones de crecimiento del mercado de carbono que alcanzará los 2.68 billones de dólares para 2028. Además, la empresa anunció cambios en la junta con Carl Stanton y Wray Thorn de Focus Impact Partners uniéndose como directores, con Stanton asumiendo el rol de Presidente, reemplazando a los miembros salientes Tom Anderson y Ray Quintana.
DevvStream (NASDAQ: DEVS)는 주식 기반 거래를 통해 250만 톤의 탄소 크레딧을 구매했다고 발표하며, 총 포트폴리오를 370만 톤으로 증가시켰습니다. 새로 취득한 크레딧은 자연 기반, 바이오차, 재생 가능 에너지를 포함한 다양한 범주에 걸쳐 있습니다. 구매 시기는 가격 하락과 크레딧 발행 감소를 포함한 현재 시장 상황을 활용하며, 2028년까지 탄소 시장이 2.68조 달러로 성장할 것으로 예상되고 있습니다. 또한, Carl Stanton과 Wray Thorn이 Focus Impact Partners에서 이사로 합류하며 이사회 변경도 발표하였고, Stanton은 퇴임하는 Tom Anderson과 Ray Quintana의 자리를 대신하여 의장 역할을 맡습니다.
DevvStream (NASDAQ: DEVS) a annoncé l’achat de 2,5 millions de crédits carbone à travers des transactions basées sur des actions, augmentant son portefeuille total à 3,7 millions de crédits. Les crédits nouvellement acquis couvrent plusieurs catégories, y compris ceux basés sur la nature, le biochar et l’énergie renouvelable. Le moment de l’achat tire parti des conditions actuelles du marché, y compris la baisse des prix et la diminution des émissions de crédits, dans un contexte de prévisions de croissance du marché du carbone atteignant 2,68 trillions de dollars d’ici 2028. De plus, l’entreprise a annoncé des changements au conseil d’administration avec Carl Stanton et Wray Thorn de Focus Impact Partners rejoignant en tant que directeurs, Stanton prenant le rôle de Président, remplaçant les membres sortants Tom Anderson et Ray Quintana.
DevvStream (NASDAQ: DEVS) hat den Kauf von 2,5 Millionen CO2-Zertifikaten durch aktienbasierte Transaktionen bekannt gegeben, wodurch das gesamte Portfolio auf 3,7 Millionen Zertifikate erhöht wurde. Die neu erworbenen Zertifikate decken mehrere Kategorien ab, darunter naturbasierte, Biochar und erneuerbare Energie. Der Kaufzeitpunkt nutzt die aktuellen Marktbedingungen, einschließlich Preisrückgängen und einem Rückgang der Zertifikatsausgaben, während Wachstumsprognosen des Kohlenstoffmarktes auf 2,68 Billionen USD bis 2028 hinweisen. Darüber hinaus kündigte das Unternehmen Änderungen im Vorstand an, wobei Carl Stanton und Wray Thorn von Focus Impact Partners als Direktoren eintreten, wobei Stanton den Vorsitz übernimmt und die ausscheidenden Mitglieder Tom Anderson und Ray Quintana ersetzt.
Positive
- Portfolio expansion to 3.7 million carbon credits through strategic acquisition
- Diversification across multiple credit categories (nature-based, biochar, renewable power)
- Strategic timing of purchase during market price declines, potentially maximizing future returns
- Capital-light business model enabling rapid value generation
Negative
- Share-based transaction structure potentially leading to dilution
- Purchase made during period of market uncertainty and declining prices
- Significant board leadership changes creating potential transition risks
Transactions increase total portfolio of purchased carbon credit inventory to 3.7 million credits
Advances the Company’s strategic plan to broaden and diversify its asset portfolio, as a complement to its carbon management and project investment businesses
Company appoints Carl Stanton and Wray Thorn to its Board of Directors
Sacramento, California–(Newsfile Corp. – November 8, 2024) – DevvStream Corp. (NASDAQ: DEVS) (“DevvStream” or the “Company“), a leading carbon credit project co-development and generation firm specializing in technology-based solutions, today announced definitive agreements for the purchase of 2.5 million carbon credits (the “Purchase“) in exchange for common shares of DevvStream. The carbon credits purchased were selected from a field of over 120 million potential candidates and are representative of multiple key categories: nature-based, biochar, and renewable power. Combined with the 1.2 million credits previously acquired from the Ipixuna REDD+ Project, the Purchase brings DevvStream’s total portfolio of purchased credits to 3.7 million.
The Company’s carbon portfolio serves as an important component of its strategic plan, alongside its carbon management and project investment initiatives. The Purchase immediately broadens and diversifies DevvStream’s asset base, providing a strategic complement to its own carbon credit generation programs and carbon sequestration offerings. The timing of the Purchase was driven by two high-level prevailing trends: (a) lingering uncertainty within the carbon market leading to broad price declines, and (b) an overall decrease in carbon credit issuances and retirements. Because the global carbon credit market value is expected to grow to
A Diagram of DevvStream’s Strategic Plan
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Changes to the Board of Directors
Effective November 7, 2024, Tom Anderson, Chairman, and Ray Quintana, Director, have stepped down from the Company’s board of directors. Carl Stanton and Wray Thorn, partners and co-founders of Focus Impact Partners, will succeed Mr. Anderson and Mr. Quintana as directors of the Company and Mr. Stanton will serve as new Chairman of the Company’s board of directors.
About DevvStream
Founded in 2021, DevvStream is a leading authority in the use of technology in carbon project development. The Company’s mission is to create alignment between sustainability and profitability, helping organizations achieve their climate initiatives while directly improving their financial health. With a pipeline of over 140 technology-based projects worldwide, DevvStream makes it simple for corporations and governments to address their net-zero goals while generating premium carbon credits in the process. DevvStream takes a unique approach to evaluating project opportunities, and co-develops projects spanning energy-efficient buildings, facilities and homes, industrial facilities, LED systems, EV charging stations, and technologies to seal oil wells. The Company’s end-to-end proprietary solution removes the risk and complexity from every step, allowing organizations to move from project ideation to credit monetization with ease. The result is a multi-year stream of carbon credit revenue that transforms sustainability into a financial investment. In addition, for organizations that need help to offset their most difficult-to-reduce emissions, we also provide premium carbon credits for purchase.
Disclaimer
Certain statements in this news release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts and generally relate to future events, trends or DevvStream’s future financial or other performance metrics. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential” or “continue”, or the negatives of these terms or variations of them or similar terminology. These forward-looking statements include statements regarding the Company’s intentions, beliefs, projections, outlook, analyses and current expectations concerning, among other things, the trends in the carbon credit markets described in this news release, future performance and anticipated financial impacts of certain transactions, including the Purchase, described in this news release, or the growth of the global carbon credit market value, are subject to risks and uncertainties, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by DevvStream and its management are inherently uncertain and subject to material change. Given these risks, uncertainties, and other factors, you should not place undue reliance on these forward-looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties.
These forward-looking statements are expressed in good faith, and DevvStream believes there is a reasonable basis for them. However, there can be no assurance that the events, results or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and DevvStream is under no obligation, and expressly disclaims any obligation, to update, alter or otherwise revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. Readers should carefully review the statements set forth in filings made by, or to be made by, DevvStream from time to time with the SEC as well as public filings with Canadian securities regulatory authorities. This news release is not an offer to sell or the solicitation of an offer to buy, any securities of the Company and this news release is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in DevvStream. This news release is not intended to form the basis of an investment decision in DevvStream. All subsequent written and oral forward-looking statements concerning DevvStream or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above.
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FAQ
How many carbon credits did DevvStream (DEVS) acquire in November 2024?
DevvStream acquired 2.5 million carbon credits in November 2024, bringing their total portfolio to 3.7 million credits.
What types of carbon credits did DevvStream (DEVS) purchase in their latest acquisition?
The purchased credits include nature-based, biochar, and renewable power categories, selected from over 120 million potential candidates.
Who are the new board members appointed to DevvStream (DEVS) in November 2024?
Carl Stanton and Wray Thorn, partners and co-founders of Focus Impact Partners, were appointed as directors, with Stanton serving as the new Chairman.
What is the projected value of the global carbon credit market by 2028 according to DevvStream’s PR?
According to Research and Markets, cited in the PR, the global carbon credit market value is expected to grow to $2.68 trillion by 2028.
