- DevvStream (DEVS, Financial) partners with Energy Efficient Technologies to expand into building efficiency.
- Agreement introduces dual revenue streams from carbon credits/I-RECs and utility-bill savings.
- EET's technology could save $20 billion in power costs and reduce CO2 emissions by 117 million tonnes annually.
DevvStream Corp (DEVS), a leader in carbon management and environmental asset development, has entered into a carbon-management agreement with Energy Efficient Technologies (EET). This partnership aims to expand DevvStream's environmental asset portfolio into the building efficiency sector.
The agreement provides DevvStream with two revenue streams: carbon credits and international renewable energy certificates (I-RECs), along with shared savings from utility bills. EET has demonstrated success in reducing electricity consumption by 8-35% for major clients, including global hospitality, restaurant, and brewing companies.
The market potential is significant, with EET estimating that their CryoGenX4 technology can save $20 billion in power costs and reduce 117 million tonnes of CO2 annually across 8,000 data centers. This strategic move strengthens DevvStream's existing portfolio, which encompasses hydro, solar, waste-to-energy, carbon-capture, and biogas projects.
Sunny Trinh, CEO of DevvStream, expressed confidence in EET's proven technology, stating, "We believe EET's record of double-digit energy savings positions us to unlock efficiency-based credits and revenue, diversifying our income while helping businesses cut costs and emissions."
This partnership marks a significant step in DevvStream's mission to align sustainability with profitability, offering organizations an effective path to achieving their climate goals while improving financial health.
