DevvStream Holdings Inc. has completed its business combination with Focus Impact Acquisition Corp. (FIAC), marking a significant milestone as the first carbon credit generation company to be publicly listed on a major U.S. stock exchange.
The combined entity, now named DevvStream Corp., began trading on Nasdaq under the ticker symbol “DEVS” starting November 7.
With this transition, FIAC’s Class A and Class B stocks have been converted to DevvStream Corp. common shares, and existing FIAC warrants have been adjusted accordingly.
This listing reflects a growing emphasis on carbon markets, positioning DevvStream to lead in technology-driven carbon credit generation, the company said in a statement last week.
Additionally, DevvStream has secured access to up to $43 million in additional capital, dedicated to accelerating growth and expanding access to carbon credits.
Relevant: Focus Impact Shareholders Express Support For DevvStream Transaction
CEO Sunny Trinh expressed confidence in the company’s ability to foster both environmental and financial value by making carbon markets accessible and transparent.
The funds will support initiatives aimed at helping organizations meet their decarbonization goals.
DevvStream’s core programs include partnerships with governments and corporations to generate technology-based carbon credits.
The company co-develops projects that are optimized for generating high-quality carbon offsets, primarily across the voluntary and compliance markets.
The business combination with Focus Impact also advances DevvStream’s other projects, including a significant stake in a carbon sequestration hub in Louisiana and a program for electric vehicle charging carbon credits.
