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DevvStream Launches Buildings and Facilities Carbon Offset Program (BFCOP) to Help Building Owners Generate Revenue from Carbon Reduction Activities

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With no cost to join, the program will return a significant percentage of net revenue from carbon credit sales directly to building owners, eliminating the need to develop custom offset projects on their own

Vancouver, British Columbia–(Newsfile Corp. – May 2, 2023) – DevvStream Holdings Inc. (NEO: DESG) (“DevvStream” or the “Company“), a leading carbon credit investment firm specializing in technology solutions, today announced the launch of its Buildings and Facilities Carbon Offset Program (BFCOP), a first-of-its-kind offset project that aims to reduce the barrier to entry for organizations seeking to generate carbon credit revenue within three categories: (a.) energy efficiency activities, (b.) onsite renewable energy generation, and (c.) electric vehicle (EV) charging stations. BFCOP will be rolled out across the US and Canada initially, followed by the EU, and is expected to be active during the summer of 2023. Residential, commercial, and institutional buildings, both new and retrofit, are eligible for the program, and there is no cost to join.

Highlights

  • BFCOP is a first-of-its-kind program designed to help building owners in the US and Canada generate carbon credit revenue via energy efficiencies, renewable power, and EV charging stations.
  • Residential, commercial, and institutional buildings, both new and retrofit, are eligible for the program. There is no cost to join.
  • A significant percentage of net revenue from all carbon credit sales will be shared back with each program participant on a prorated basis.

An estimated 40% of global energy-related carbon emissions can be attributed to buildings-approximately 30% from their operations and the remaining 10% from construction and materials1. According to the Energy Information Administration (EIA), there are nearly 6 million commercial buildings in the United States containing nearly 100 billion square feet of space2, while Canada maintains nearly 500,000 commercial and institutional buildings3. This represents a tremendous opportunity to impact global emissions while simultaneously generating numerous carbon credits with minimal risk to participants. To capitalize on this opportunity, DevvStream will leverage its relationship with Global Green, which offers immediate and direct access to 29 major municipalities across the US as well as dozens of multinational corporations with extensive building portfolios, while the Company’s joint venture Marmota will address the Canadian market through its established relationships with municipal and provincial governments nationwide.

BFCOP Program Details

  • Building owners join at no cost and submit one or more buildings to the program. A pre-qualification evaluation confirms that the proposed activities meet the program requirements for credit generation.
  • Each program participant is responsible for providing ongoing data to DevvStream, which is responsible for undergoing third-party data verification and credit issuance.
  • DevvStream is responsible for managing the sale of credits on a regular basis, and a significant portion of net revenue will be shared back with each program participant on a prorated basis.

“The BFCOP program will enable building owners to generate additional revenue streams from activities that generate emission reductions-activities that they might not be aware can produce carbon credits-quickly and easily,” said Sunny Trinh, CEO of DevvStream. “We’ve developed a robust program with a straightforward onboarding process, advantageous revenue sharing model, professional implementation, and rapid results. We’ve already made progress in signing our first major participants: For example, Marmota expects to sign agreements with two Canadian cities by July and begin issuing credits by the fourth quarter of 2023. These two cities alone have the potential to generate over 650,000 carbon credits per year with over a dozen more municipalities to follow. We expect BFCOP to serve as a true catalyst to reduce the carbon footprint of the built environment by helping generate additional revenue to accelerate decarbonization efforts.”

About DevvStream

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DevvStream is a technology-based ESG company that advances the development and monetization of environmental assets, with an initial focus on carbon markets. DevvStream works with governments and corporations worldwide to achieve their sustainability goals through the implementation of curated green technology projects that generate renewable energy, improve energy efficiencies, eliminate or reduce emissions, and sequester carbon directly from the air. DevvStream also helps these organizations meet their net zero goals by providing them access to high-quality carbon credits. For more information, please visit www.devvstream.com.

On Behalf of the Board of Directors,
Sunny Trinh, CEO

For further information please contact:
Focus Communications
Tel: +1 647 689 6041
Email: [email protected]

Disclaimer

This news release contains forward-looking statements, including statements that are not historical facts. All statements other than statements of historical fact included in this release are forward-looking statements. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, and which are described in the Company’s public filings available under its profile at www.sedar.com. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company does not intend to update any of the included forward-looking statements except as required by Canadian securities laws.

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Resources

1https://worldgbc.org/advancing-net-zero/embodied-carbon/
2https://www.eia.gov/todayinenergy/detail.php?id=46118#
3https://www.canada.ca/en/services/environment/weather/climatechange/climate-plan/climate-plan-overview/healthy-environment-healthy-economy/annex-homes-buildings.html

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/164466

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Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

Blockchain

Wealth Management Platform Market Size to Reach US$ 15.8 Billion by 2032 Due to Rising Demand for Comprehensive Financial Solutions | Research by SNS Insider

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Blockchain

RAK DAO Partners with Phoenix Group PLC (PHX) and Internet of People (IOPn) to Commit $100 Million Investment to Boost Web3 Innovation in Ras al Khaimah

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Phoenix Group PLC and IOPn commit to investing $100 million to drive innovation and attract top Web3 talent to Ras al Khaimah by 2030.

This partnership aims to create a thriving ecosystem for blockchain and digital assets in the region.

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RAK DAO, the world’s first and only Free Zone with Common Law features established to support digital assets companies, has entered into a strategic partnership with Phoenix Group and IOPn. This collaboration aims to drive innovation, foster economic growth, and further position Ras al Khaimah as a global hub for Web3 pioneers. Phoenix Group, an ADX-listed company, is a leader in web3 development in the UAE. IOPn is an integrated Web3 ecosystem that leverages blockchain, AI, and cutting-edge spatial computing.

As part of the partnership, Phoenix Group and IOPn have committed to investing $100 million into the Emirate of Ras al Khaimah by 2030 leveraging RAK DAO’s infrastructure. This substantial investment underscores Phoenix Group and IOPn’s dedication to stimulating innovation and attracting top-tier professionals to the region within the Web3 space. The partnership seeks to target, encourage and attract highly-skilled individuals in Web3, crypto, blockchain, and developer domains to the region. Phoenix Group and IOPn aim to enrich the local talent pool by leveraging initiatives such as the Golden Visa programs and RAK DAO business licenses through investment. By nurturing top-tier talent, RAK DAO, Phoenix Group and IOPn seek to create a thriving ecosystem that harnesses cutting-edge technologies – including blockchain, spatial, and cognitive solutions for economic development and sustainability.

Dr. Sameer Al Ansari, CEO of RAK DAO has expressed, “We are thrilled to welcome Phoenix Group and IOPn as RAK DAO’s Ecosystem Partners. The $100 million investment marks a significant milestone in our mission to establish Ras al Khaimah as a premier destination for Web3 innovation and talent. By leveraging Phoenix Group and IOPn’s expertise and resources, we are poised to further enrich our dynamic ecosystem that fosters cutting-edge technologies and attracts the brightest minds in the blockchain and digital asset sectors.

This collaboration underscores our commitment to driving economic growth and sustainability through technological advancements. We look forward to welcoming top-tier professionals and pioneering initiatives that will redefine the digital landscape of Ras al Khaimah.”

Mr. Seyed Mohammad Alizadehfard (Bijan), Co-founder & Group CEO of Phoenix Group, elaborated on the new strategic dimensions of the partnership, stating, “Our joint venture marks a pivotal expansion of our commitment to blockchain infrastructure aimed at enhancing the technological landscape in Ras al Khaimah. Our partnership will not only drive innovation but also strategically position the Emirate as a leading center for blockchain excellence globally.”

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Mr. Mojtaba Asadian, Founder and CEO of IOPn, added: “IOPn builds on the visionary leadership of Ras Al Khaimah and the supporting environment created by RAK DAO to provide a unique opportunity for top-rated world talent to innovate and create value. IOPn is doing this by offering a powerful new Web 3.0 ecosystem and using the significant proven capabilities of Phoenix Group. We’re thrilled to be embarking upon this partnership with RAK DAO in collaboration with Phoenix Group.”

At the heart of this collaboration lies a commitment to access and nurture top-tier talent within the blockchain and Web3 industries. By enriching the local talent pool and fostering an environment conducive to innovation, RAK DAO, Phoenix Group and IOPN aim to drive forward-thinking initiatives that redefine the landscape and highlight the Emirate of Ras al Khaimah as an attractive destination for top talent. This six-year partnership and substantial investment underscore their dedication to stimulating innovation and attracting top-tier professionals.

 

The post RAK DAO Partners with Phoenix Group PLC (PHX) and Internet of People (IOPn) to Commit $100 Million Investment to Boost Web3 Innovation in Ras al Khaimah appeared first on HIPTHER Alerts.

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Blockchain

xPortal Enhances Solana Crypto-to-Cash Experience with New Ecosystem Integrations

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 xPortal, the ultimate financial super app for everything money, developed by the MultiversX team, is thrilled to announce significant enhancements to its platform, aimed at elevating the Solana ecosystem experience for both new and existing users.

These updates include the ability to top up xPortal Debit Cards with SOL, the listing of numerous SPL tokens, and the integration of leading SOL dApps in xPortal’s Discover section, the app’s multi-chain dApp hub. This development further cements xPortal’s role as a unique bridge between the digital and physical worlds, facilitating seamless transitions from crypto to cash for holders of top cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), MultiversX (EGLD), Solana (SOL), and Polygon (MATIC).

Starting today, xPortal users can effortlessly top-up their xPortal Debit Cards with their SOL holdings. This new feature allows Solana enthusiasts to use their crypto for shopping easily and manage their finances quickly, making it simpler than ever to transition from digital assets to real-world spending power.

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Additionally, xPortal now supports over 20 Solana-based SPL tokens, providing users with expanded opportunities to manage and interact with their favorite Solana assets. The new tokens available on xPortal include $PYTH, $IO, $JTO, $WIF, $BONK, $JUP, $RAY, $BOME, $HNT, $POPCAT, $BEER, $USDT, $USDC, $LINK, $LDO, $FTM, $RPL, $SUSHI, $DADDY, and $BODEN. This extensive list ensures that users can now enjoy a comprehensive Solana experience directly from the xPortal app, with more tokens being activated weekly.

The xPortal Discover section has also been enhanced with the addition of top-tier Solana decentralized applications (dApps). Users can now explore and interact with premier Solana dApps, including Jupiter Exchange, Raydium Protocol, and Kamino Finance.

Sergiu Biris, Head of Product at MultiversX and xPortal Lead, commented on the update: “These latest developments are a testament to our dedication to providing a complete experience for our users and represent a significant step forward in our mission to bring blockchain technology into the mainstream and make crypto payments the norm.”

“We’ve spent considerable time equipping xPortal with a unique set of features that make it stand out: unmatched simplicity and ease of use, beautifully abstracted complexity, the ability to bridge physical and digital realms, and many others. We’re excited to make access to all these features ecosystem-agnostic,” Biris added.

 

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The post xPortal Enhances Solana Crypto-to-Cash Experience with New Ecosystem Integrations appeared first on HIPTHER Alerts.

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