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CALGARY, Alberta - DevvStream Corp. (NASDAQ: DEVS), a carbon credit project co-development and generation firm with a current market capitalization of $9.59 million, has announced strategic partnerships with Zing and Minimus Fulfillment to broaden the reach of its DevvStream Personal Impact Voluntary Offset Tool (D-PIVOT) across Shopify storefronts. This move aims to integrate sustainability into e-commerce by allowing consumers to offset their online purchases’ carbon footprint. According to InvestingPro analysis, the company faces financial challenges with negative EBITDA of $8.55 million in the last twelve months.
D-PIVOT is a Shopify-integrated software that supports environmental projects through carbon offsets. The tool is available at no cost and targets wholesalers, fulfillment providers, and distributors to facilitate sustainable online shopping experiences. DevvStream’s collaboration with Zing, an e-commerce marketing and software development company, and Minimus Fulfillment, a 3PL provider for celebrity and creator brands, is expected to drive adoption and revenue growth for D-PIVOT.
The strategic expansion taps into the burgeoning U.S. e-commerce sector, leveraging the Shopify platform, which powers nearly 28% of all online stores in the country. The U.S. 3PL market, worth approximately $299.5 billion in 2023, and the digital advertising agency market, with expected revenues of $52.4 billion in 2024, present significant opportunities for DevvStream to embed sustainability in online transactions. Trading at $0.35 per share, the stock has experienced significant volatility, with a 96.92% decline over the past six months. InvestingPro subscribers can access 10+ additional key insights about DevvStream’s market performance and financial health.
Sunny Trinh, CEO of DevvStream, emphasized the initiative’s alignment with consumer habits and the company’s strategy to scale revenue while promoting sustainability. Dan Melnick, CEO and Co-Founder of Zing, noted the added customer engagement benefits of integrating D-PIVOT, while Paul Shrater, CEO of Minimus Fulfillment, highlighted the emotional connection to brands that carbon offsetting can provide for consumers.
The partnerships are poised to enhance DevvStream’s leadership in the carbon offset market and its inventory of several million high-quality carbon credits. For more details or partnership inquiries, interested parties can contact DevvStream.
DevvStream, founded in 2021, focuses on technology-based solutions for carbon project development, aiming to align sustainability with profitability. The company’s diverse approach includes an offset portfolio, project investment, and project management for activities like EV charging in exchange for a percentage of generated credits. Financial metrics from InvestingPro indicate challenges ahead, with a weak financial health score of 0.44 and a concerning current ratio of 0.04, suggesting potential liquidity constraints.
This article is based on a press release statement.
In other recent news, DevvStream Corp. has been notified by The Nasdaq Stock Market LLC regarding a potential delisting due to its share price falling below the required minimum. The company has until August 13, 2025, to rectify this situation and maintain its listing status. Additionally, DevvStream has secured $3,982,150 in convertible notes, using its carbon credits as collateral, which is part of a strategic financial restructuring. These notes can be converted into common shares at a discount, providing a mechanism for debt reduction.
Furthermore, DevvStream launched a new tool called the DevvStream Personal Impact Voluntary Offset Tool (D-PIVOT), aimed at helping Shopify store customers offset carbon emissions from shipping. This tool is free for Shopify stores and offers vendors a share of the revenue from carbon offsets sold. Minimus Fulfillment has partnered with DevvStream to promote this tool among its clients.
These developments reflect DevvStream’s ongoing efforts to leverage its environmental assets for financial stability and to expand its offerings in the carbon offset market.
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