DevvStream’s investment in its technology partner TS-Nano has resulted in the sealing of 7 wells with a high rate of success

DevvStream has also filed a provisional patent to enable a program approach to aggregate emission reductions generated by plugging methane leaks in abandoned wellheads throughout the U.S. and Canada

Vancouver, British Columbia–(Newsfile Corp. – February 9, 2023) – DevvStream Holdings Inc. (NEO: DESG) (“DevvStream” or the “Company“), a leading carbon credit investment firm specializing in technology solutions, is pleased to announce significant initial developments in its future methane abatement offset program (the “Offset Program“) centered around the high-volume plugging of abandoned oil and gas wells with next-generation sealant technologies developed by its partner TS-Nano. The Offset Program has completed the sealing of 7 wells with a high rate of success, generating impermeable cement plugs and closing off microcracks in existing cement barriers, which prevents the migration of CO₂ and methane to the surface. These successful tests represent critical progress toward the Company’s goal of using its Offset Program to address the estimated 3 million decommissioned oil and gas wells in the U.S. and the estimated 225,000 in Canada, all of which typically emit considerable quantities of methane into the atmosphere.

Reducing methane emissions is critically important in the fight against climate change, with methane release being responsible for roughly 30% of the increase in global temperatures since the pre-industrial era¹. Methane is up to 80 times more potent than carbon dioxide at trapping heat over the first 20 years after it reaches the atmosphere² .

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