DevvStream Provides Corporate Update Outlining Accelerated Development of Market-Leading Carbon Credit Platform

Company continues to advance commercialization of technology-based decarbonization solutions through announcement of several strategic partnerships and new credit offset program expansions

VANCOUVER, British Columbia, Dec. 19, 2023 (GLOBE NEWSWIRE) -- DevvStream Holdings Inc. (“DevvStream” or the “Company”) (CBOE: DESG) (OTCQB: DSTRF) (FSE: CQ0), a leading **carbon credit project co-development and generation firm **specializing in technology-based solutions, today announced a general corporate update related to the advancement of its business strategy, including several business agreements, strategic partnerships, and programs that demonstrate accelerating growth and wider adoption of its technology-based carbon offset programs.

DevvStream recently announced the following additional signed agreements, strategic partnerships, and programs further demonstrating the company’s rapid growth and business momentum.

• EV Charging – On December 5, 2023, DevvStream announced a partnership with Go-Station, Inc. (“Go-Station”), an electric vehicle (“EV”) charging company, through which DevvStream will seek to leverage Go-Station’s network of EV charging stations in the United States for carbon credit generation. In exchange for services related to the development and monetization of carbon credits from Go-Station’s EV charging stations, DevvStream will retain a portion of any carbon credits generated.
• Carbon Credit Offtake Agreement – On October 3, 2023, DevvStream signed a new offtake agreement with the BC Road Builders and Heavy Construction Association (“BCRB”), centered on BCRB’s greenhouse gas reduction program, a revolutionary carbon offset project poised to make a substantial impact on global carbon emissions in the transportation sector. DevvStream has committed to the purchase of high-quality, verified carbon credits generated through the program, beginning in late 2024. This agreement is emblematic of the unique opportunity DevvStream offers for organizations to gain access to carbon markets while driving revenue streams stemming from decarbonization activities.
• Carbon Offset Program Platform – On October 10, 2023, DevvStream officially launched its Carbon Offset Program Platform (“COPP”)™, a first-of-its-kind blockchain-powered environmental project management platform. The COPP platform will aim to leverage the power of blockchain technology to provide a comprehensive and unalterable record of the company’s carbon offset projects, setting a new standard of transparency, integrity, and accessibility to carbon offset projects in DevvStream’s portfolio.

COP28 Engagement

DevvStream representatives recently traveled to Dubai, United Arab Emirates to participate in the 28th Conference of the Parties (“COP28”) to the United Nations Framework Convention on Climate Change. DevvStream leaders presented at and led a number of panel and roundtable events, at venues ranging from the COP28 Blue Zone and the YOUNGA COP28 pavilion to the CC Forum: Global Investment in Sustainable Development, for discussions of the current and future state of carbon markets.

Form S-4 Filing

As previously announced on September 13, 2023, DevvStream entered a definitive business combination agreement with Focus Impact Acquisition Corp (“Focus Impact”). On December 11, 2023, DevvStream announced the filing of a registration statement on Form S-4 with the U.S. Securities and Exchange Commission, which contains a preliminary proxy statement/prospectus in connection with the proposed business combination between DevvStream and Focus Impact (the “Business Combination”). Upon closing, the Business Combination is expected to result in DevvStream being the first publicly traded carbon credit company on a major U.S. stock exchange.

>> Additional Reading: DevvStream to Leverage Go-Station's Network of EV Charging Sites for Carbon Credit Generation

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 programmatic 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.

On September 13, 2023, DevvStream and Focus Impact (Nasdaq: FIAC) announced that they have entered into a definitive business combination agreement for a business combination that would result in the combined company (DevvStream) to be listed on the Nasdaq Stock Market under the ticker symbol “DEVS”.

About Focus Impact Acquisition Corp.

Focus Impact Acquisition Corp. is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.