- DevvStream Corp (DEVS, Financial) signs an MoU with UAE's Fayafi Investment Holding to create a new joint venture.
- The joint venture, "Fayafi x DevvStream Green Ventures," aims for $100 million in initial funding.
- Project deployments under this venture to target high-growth regions by late 2025.
DevvStream Corp (DEVS), a prominent carbon management firm, has signed a Memorandum of Understanding (MoU) with Fayafi Investment Holding, a leading UAE-based investment platform. The MoU outlines plans to establish "Fayafi x DevvStream Green Ventures," a joint venture geared towards global decarbonization and climate infrastructure projects.
Under the terms of the MoU, Fayafi will acquire an 80% stake in the venture, with DevvStream holding the remaining 20%. The collaboration is set to commence with an initial funding commitment of $100 million. This venture is designed to merge DevvStream's expertise in carbon management with Fayafi's robust capital resources and extensive institutional network to drive global sustainability initiatives.
Final agreements for this venture are anticipated by the second quarter of 2025, with project deployments expected to start by the third or fourth quarter the same year. DevvStream will lead roles in project identification, evaluation, and carbon credit management, while Fayafi will focus on market access and regulatory approvals. This model allows DevvStream to expand its global impact effectively, generating recurring revenue from project management, consulting, and carbon monetization services.
This strategic initiative highlights a significant evolutionary step for DevvStream, facilitating its growth into high-impact regions and reinforcing its position as a leader in the sustainable investment space.
