DevvStream (DEVS, Financial) has entered into a Memorandum of Understanding with Fayafi Investment Holding to launch a global joint venture, Fayafi x DevvStream Green Ventures. This initiative aims to expedite investments in decarbonization and climate infrastructure projects worldwide. The collaboration will leverage DevvStream’s expertise in operations and technology, alongside Fayafi’s financial resources and focus on ESG investments.
The joint venture will concentrate on identifying, funding, and expanding environmental projects in rapidly growing regions. Firm agreements are anticipated by the second quarter, with project rollouts planned for the third and fourth quarters. An initial funding commitment of $100 million is on the table, with the potential to expand significantly depending on project success and capital efficiency.
The venture will function as an independent entity, with Fayafi expected to hold 80% ownership and DevvStream 20%. Both parties will share economics proportionally. The MoU grants DevvStream exclusivity during the feasibility phase and a first right of refusal on any carbon-related opportunities emerging from the venture.
