- DevvStream (DEVS, Financial) signs two MoUs in Indonesia for waste-to-energy (WtE) projects.
- The Southeast Asia WtE market is projected to grow from $4.22 billion in 2025 to $7.70 billion by 2030.
- The MoUs are non-binding and aim to generate recurring revenue from I-RECs and carbon credits.
DevvStream Corp. (DEVS), a leading carbon management firm, has announced the signing of two new memoranda of understanding (MoUs) in Indonesia to expand its waste-to-energy (WtE) projects. The agreements, made with PT Tren Solusi Transformasi Indonesia for a municipal WtE facility in West Java and with PT Kartika Satu Graha Mandiri for a landfill waste conversion project in Depok City, are intended to enhance DevvStream's environmental asset portfolio across Southeast Asia.
These projects will focus on generating International Renewable Energy Certificates (I-RECs) and carbon credits, paving the way for potential recurring revenue streams once the environmental assets are issued. The Southeast Asia WtE sector, predicted to grow from $4.22 billion in 2025 to $7.70 billion by 2030, offers significant market opportunities for DevvStream, with an anticipated compound annual growth rate (CAGR) of 12.8%.
DevvStream's strategic expansion into the Southeast Asian market complements its existing hydroelectric agreement in South Sulawesi, Indonesia, and solar energy collaboration in the Philippines. This diversification across multiple renewable energy technologies, including WtE, hydro, solar, and biogas, potentially reduces technology-specific risks and positions the company to capitalize on multiple environmental markets simultaneously.
It is important to note that these MoUs are non-binding, and their execution is contingent upon definitive agreements. The actual timeline for revenue generation and economic impact remains unspecified, with successful monetization of the environmental assets depending on navigating certification processes and securing buyers for the generated I-RECs and carbon credits.
