DevvStream joins Singapore Carbon Market Alliance

DevvStream Corp. (NASDAQ:DEVS), a carbon credit project co-development and generation firm with a market capitalization of $5.58 million, announced today its entry into the Singapore Carbon Market Alliance (SCMA). This invitation-only platform is a collaboration between the Singapore Economic Development Board and the International Emissions Trading Association (IETA), focusing on high-integrity carbon credits aligned with Article 6 of the Paris Agreement. According to InvestingPro analysis, the company’s stock has shown high price volatility in recent market sessions.

The SCMA, which Singapore has formed through implementation agreements with countries like Ghana and Peru, aims to facilitate the trading of carbon credits under the Paris Agreement’s Article 6. This provision is critical as it allows for international cooperation in reducing greenhouse gas emissions through carbon credits. DevvStream’s inclusion in the SCMA will enable it to connect with potential buyers of Article 6 carbon credits.

Sunny Trinh, CEO of DevvStream, emphasized the importance of Article 6 compliance for carbon credits, suggesting that such credits could command a premium in the market. Trinh’s comments follow the authorization of emissions trading under Article 6.4 during last year’s COP29 in Baku, which aimed to establish a global compliance carbon market.

Established in 2021, DevvStream’s mission is to balance sustainability with profitability, assisting organizations in achieving climate goals while improving financial outcomes. The company operates across three strategic domains: selling carbon credits, investing in and acquiring projects to expand its solutions, and managing projects to generate credits. Financial data from InvestingPro reveals challenging conditions, with the company not yet achieving profitability and maintaining an overall weak financial health score.

In its Form 8-K, DevvStream also included forward-looking statements regarding its future performance and the anticipated financial impacts of its business endeavors. These statements are subject to risks and uncertainties, and actual results may differ materially from those projected.

Investors are cautioned that these forward-looking statements are based on estimates and assumptions and should not be unduly relied upon. DevvStream disclaims any obligation to update these statements as required by law.

This announcement is based on a press release statement filed with the SEC.

In other recent news, DevvStream Corp. has faced significant developments impacting its business and market presence. The company has been notified by The Nasdaq Stock Market LLC of a potential delisting due to its share price falling below the required minimum of $1.00 for 30 consecutive trading days, with a deadline of August 13, 2025, to rectify the situation. In a separate move, DevvStream executives, including Chairman Carl Stanton and Director Wray Thorn, have invested $218,000 in the company’s 5.30% Secured Convertible Note, signaling confidence in its future growth prospects.

Additionally, DevvStream has expanded its e-commerce carbon offset tool, D-PIVOT, through strategic partnerships with Zing and Minimus Fulfillment, aiming to integrate sustainability into online shopping experiences. This expansion leverages the Shopify (NASDAQ:SHOP) platform, which powers a significant portion of U.S. online stores, and targets the growing e-commerce sector. The partnerships are expected to drive adoption and revenue growth, enhancing DevvStream’s leadership in the carbon offset market.

These recent developments reflect the company’s ongoing efforts to align sustainability with profitability while navigating the challenges of maintaining its Nasdaq listing. The strategic initiatives underscore DevvStream’s commitment to expanding its market reach and strengthening its position in the carbon management industry.

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