DevvStream expands Indonesia presence with two WtE MoUs

Published 09/06/2025, 16:06
DevvStream expands Indonesia presence with two WtE MoUs

CALGARY, Alberta - DevvStream Corp. (NASDAQ: DEVS), a carbon management firm with a current market capitalization of $12.65 million and trading at $0.51 per share, has announced the signing of two memoranda of understanding (MoUs) in Indonesia, aimed at developing waste-to-energy (WtE) projects. These agreements are part of the company’s strategy to diversify its portfolio in the Southeast Asia region and create new revenue streams through International Renewable Energy Certificates (I-RECs) and carbon credits. According to InvestingPro data, the company’s financial health score is currently rated as WEAK, with short-term obligations exceeding liquid assets, indicating the importance of successful project execution for improved financial stability.

The first MoU with PT Tren Solusi Transformasi Indonesia involves a municipal WtE facility in West Java, while the second, with PT Kartika Satu Graha Mandiri, focuses on converting landfill waste into renewable power in Depok City. These projects are expected to complement DevvStream’s existing Indonesian hydro asset and a solar energy collaboration in the Philippines.

The non-binding MoUs are contingent upon definitive agreements and, if successful, could contribute to the company’s recurring revenue once environmental assets are issued. DevvStream’s CEO, Sunny Trinh, highlighted the growth potential in the region’s WtE sector, which is projected to increase from approximately $4.22 billion in 2025 to $7.70 billion by 2030, according to Mordor Intelligence. InvestingPro subscribers can access 8 additional key insights about DevvStream’s financial performance and growth prospects, helping investors make more informed decisions about this emerging player in the renewable energy sector.

DevvStream, founded in 2021, aims to align sustainability with profitability, providing organizations with solutions to achieve climate goals while enhancing financial performance. The company’s approach spans project investment, development, and the sale of environmental assets, including nature-based, tech-based, and carbon sequestration credits.

The forward-looking statements in the press release reflect the company’s intentions and expectations regarding its future performance and market trends. However, these are subject to risks and uncertainties that could cause actual results to differ. The stock has experienced significant volatility, with a year-to-date decline of 44.15% and a current ratio of 0.05, suggesting potential challenges in meeting short-term obligations. The execution of the projects described is dependent on regulatory approvals and the performance of local partners, with no guarantee that all environmental assets will be issued or monetized.

This news is based on a press release statement and does not constitute an offer to sell or a solicitation of an offer to buy any securities of DevvStream.

In other recent news, DevvStream Corp. has entered a Memorandum of Understanding with Fayafi Investment Holding to establish a joint venture named Fayafi x DevvStream Green Ventures. This initiative aims to fund decarbonization and climate infrastructure projects globally, starting with a $100 million commitment. In another development, DevvStream has joined the Singapore Carbon Market Alliance, a platform focused on trading high-integrity carbon credits under the Paris Agreement’s Article 6. This membership is expected to connect DevvStream with potential buyers of these carbon credits. Additionally, company executives, including Chairman Carl Stanton, have invested $218,000 in DevvStream’s 5.30% Secured Convertible Note to support the firm’s expansion in energy transition markets. DevvStream has also announced strategic partnerships with Zing and Minimus Fulfillment to expand its e-commerce carbon offset tool, D-PIVOT, across Shopify storefronts. This tool allows consumers to offset the carbon footprint of their online purchases, promoting sustainability in e-commerce. These recent developments reflect DevvStream’s ongoing efforts to align sustainability with profitability and expand its influence in the carbon offset market.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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