DevvStream Partners with Energy Efficient Technologies for Carbon Management Agreement

DevvStream Corp. has signed a carbon management agreement with Energy Efficient Technologies (EET) to receive revenue from EET's carbon credits and international renewable energy certificates. The agreement adds building-efficiency assets to DevvStream's portfolio and creates a new revenue stream. EET estimates that deploying its CryoGenX4 across 8,000 data centers could save $20 billion in power costs, cut 166 billion kWh, and avoid 117 million tonnes of CO₂ per year.

DevvStream Corp. (NASDAQ: DEVS) has signed a carbon management agreement with Energy Efficient Technologies (EET), marking a significant expansion of its environmental asset portfolio. The agreement will enable DevvStream to receive revenue from EET's carbon credits and international renewable energy certificates (I-RECs) [1].

This partnership introduces building-efficiency assets into DevvStream's existing portfolio, which includes hydro, solar, waste-to-energy, carbon-capture, and biogas projects. The agreement provides DevvStream with dual revenue streams, one from EET's carbon credits and I-RECs, and another from shared utility-bill savings [1].

EET has a proven track record of reducing electricity consumption by 8% to 35% for major clients, including global hospitality, restaurant, and brewing companies. The company's CryoGenX4 technology is estimated to save $20 billion in power costs, cut 166 billion kWh, and avoid 117 million tonnes of CO₂ per year if deployed across 8,000 data centers [1].

The agreement signifies DevvStream's growing commitment to diversifying its revenue streams and addressing the increasing demand for energy-efficiency credits as a cost-effective decarbonization path. By leveraging EET's technology, DevvStream aims to help businesses reduce costs and emissions while generating additional financial value [1].

References:
[1] https://www.newsfilecorp.com/release/256187
[2] https://www.stocktitan.net/news/DEVS/retransmission-devv-stream-signs-carbon-management-agreement-with-phvxn2i2n6jh.html