New business line will introduce practical commercial applications designed to promote and facilitate sales of the Company's existing carbon offset portfolio within business-to-business (B2B) and business-to-business-to-consumer (B2B2C) channels
The first application, the DevvStream Personal Impact Voluntary Offset Tool (D-PIVOT), will enable individual consumers to reduce their carbon footprint by purchasing high-integrity carbon offsets from pre-screened environmental projects during checkout on any Shopify-hosted e-commerce storefront
Calgary, Alberta--(Newsfile Corp. - December 19, 2024) - DevvStream Corp. (NASDAQ: DEVS) ("DevvStream" or the "Company"), a leading carbon credit project co-development and generation firm specializing in technology-based solutions, today announced the introduction of DevvStream for Commerce, a new business line focused on developing and deploying practical commercial applications centered around B2B and B2B2C carbon offset sales. The first of these applications, the DevvStream Personal Impact Voluntary Offset Tool ("D-PIVOT") is a carbon offset tool designed specifically to enable eco-conscious consumers to counterbalance the emissions-related impacts associated with shipping their online purchases, creating more environmentally sustainable transactions. Because e-commerce sales in the United States are rising—accounting for 16.2% of total sales in Q3 of 2024, with approximately 28% of online stores using Shopify—and the transportation and logistics industry in the United States is generating almost 30% of greenhouse gases, D-PIVOT offers a way for consumers to significantly impact a major source of atmospheric emissions.
Implemented seamlessly within any Shopify storefront, D-PIVOT allows online shoppers the option to add high-quality carbon offsets from DevvStream's expanding offset portfolio to any order during the checkout process to reduce or eliminate the carbon footprint generated via product shipping. Shoppers can choose the source of the offsets they purchase by selecting from a number of curated environmental projects, allowing them to support specific climate or social impact efforts. D-PIVOT is free to use for any Shopify e-commerce store, takes only minutes to incorporate via a straightforward plugin interface, and was designed to work smoothly within a natural checkout flow. Online vendors that integrate D-PIVOT into their Shopify storefronts will receive a portion of revenues from carbon offsets sold. Customers who purchase carbon offsets will receive documented confirmation and corroboration of their purchase and its associated impact once the offsets are retired on their behalf. Note that D-PIVOT is anticipated to appear on Shopify's App Store but is otherwise not affiliated with or endorsed by Shopify Inc.
D-PIVOT will be launched via a partnership with Minimus Fulfillment ("Minimus") a third-party logistics company with numerous high-profile celebrity and creator clients, approximately 95% of which employ Shopify storefronts. The partnership enables DevvStream to immediately present D-PIVOT to Minimus clients for consideration and potential early adoption.
"According to Pew Research Center, over 80% of people would change their behavior to fight climate change if they knew how," said Sunny Trinh, CEO of DevvStream. "D-PIVOT is an easy-to-use tool that takes the guesswork and risk out of making a tangible difference in the world. Each carbon offset purchased by a consumer directly translates into one metric tonne of greenhouse gas removed from the atmosphere through a verified environmental project that wouldn't otherwise exist without their support. This provides consumers the opportunity to effectively reduce their own individual carbon footprint while helping vendors become more sustainably focused by giving their clients a greener option. We've made the D-PIVOT tool both simple and gratifying to use, and we're honored to have Minimus onboard for launch."
"As an entrepreneurial-focused 3PL fulfillment center, Minimus strives to bring its clients interesting and cutting-edge opportunities that support their business beyond day-to-day fulfillment services," said Minimus Fulfillment co-founder and COO, Paul Shrater. "We believe D-PIVOT represents an important opportunity for our clients to earn additional revenues by encouraging their customers' natural instinct to help the environment. We are excited to be partnering with DevvStream and are actively offering our clients the chance to become early adopters of D-PIVOT."
Online vendors interested in learning more about including D-PIVOT in their Shopify storefronts can contact DevvStream at info@devvstream.com.
About DevvStream
Founded in 2021, DevvStream is a leading authority in the use of technology in carbon project development. The Company's mission is to create alignment between sustainability and profitability, helping organizations achieve their climate initiatives while directly improving their financial health.
With a diverse approach to the carbon market, DevvStream operates across three strategic domains: (1) an offset portfolio consisting of nature-based, tech-based, and carbon sequestration credits for immediate sale to corporations and governments seeking to offset their most difficult-to-reduce emissions; (2) project investment, acquisitions, and industry consolidation to extend the company's reach, allowing it to become a full end-to-end solutions provider; and (3) project development, where the company serves as project manager for eligible activities such as EV charging in exchange for a percentage of generated credits.
Certain statements in this news release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts and generally relate to future events, trends or DevvStream's future financial or other performance metrics. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expect", "intend", "will", "estimate", "anticipate", "believe", "predict", "potential" or "continue", or the negatives of these terms or variations of them or similar terminology. These forward-looking statements include statements regarding DevvStream's intentions, beliefs, projections, outlook, analyses and current expectations concerning, among other things, DevvStream's ability to continue as a going concern and to realize the benefits of its recently completed business combination, DevvStream's ability to remain listed on Nasdaq, the volatility of the market price and the liquidity of DevvStream's common shares, the impact from future regulatory, judicial, legislative or regulatory changes in DevvStream's industry, the trends in the carbon credit markets, future performance and anticipated financial impacts of certain transactions by DevvStream or others, the growth and value of the global carbon credit market traded value, the potential of carbon credits to provide carbon emission reductions and reduce carbon emissions to limit global warming, estimated C02 capture, sequestration, decarbonization or storage capacities or potentials of different projects in which DevvStream is investing, or DevvStream's opportunity pipeline and the ability of such opportunities to generated carbon or tax credits each year, or the market growth and value of international renewable energy certificates, are subject to risks and uncertainties, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by DevvStream and its management are inherently uncertain and subject to material change. Given these risks, uncertainties, and other factors, you should not place undue reliance on these forward-looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties.
These forward-looking statements are expressed in good faith, and DevvStream believes there is a reasonable basis for them. However, there can be no assurance that the events, results or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and DevvStream is under no obligation, and expressly disclaims any obligation, to update, alter or otherwise revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. Readers should carefully review the statements set forth in filings made by, or to be made by, DevvStream from time to time with the SEC and with the Canadian securities regulatory authorities. This news release is not an offer to sell or the solicitation of an offer to buy, any securities of DevvStream and this news release is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in DevvStream. All subsequent written and oral forward-looking statements concerning DevvStream or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above.
