SEER PARTNERS WITH DEVVSTREAM TO MONETIZE INSURED CARBON CREDITS ARISING OUT OF METHANE RENEWABLE ENERGY, CAPTURED OIL FIELD WELL EMISSIONS AND OTHER SEER PROJECTS
SEER commits to an aggressive decarbonization and carbon credit monetization program, starting with its current MV Technology solutions and its planned biocarbon production facilities both domestic and international.
BROOMFIELD, CO, Dec. 12, 2024 (GLOBE NEWSWIRE) -- Strategic Environmental & Energy Resources, Inc. (SEER) (OTCQB: SENR), a provider of environmental, renewable fuels and industrial waste stream management services, has partnered with DevvStream, Inc., an emerging leader in carbon credit investing and monetization (https://www.devvstream.com/) (NASDAQ: DEVS). Together, SEER and DevvStream, intend to develop a comprehensive program to quantify and monetize high-quality carbon credits arising out of 1) biogas capture and conditioning associated with generating methane renewable energy, 2) the prevention of harmful fugitive emissions from small, vertical oil & gas wells, and 3) the sequestration of CO2 at SEER’s planned “biocarbon” production facilities in Texas and Saudi Arabia.
“DevvStream is emerging as one of the international leaders in the carbon credit industry with customers and projects worldwide and SEER has technologies and opportunities that fit well into DevvStream’s growth objectives,” said John Combs, SEER’s CEO.
“The carbon credit market is already a trillion-dollar market and is expected to more than double by 2028,” said Sunny Trinh, DevvStream’s CEO. “DevvStream is committed to rapidly increasing its stakeholder value by aggressively pursuing market share in this exploding market space. After assessing SEER’s technologies and its impressive customer base, including some of the world’s largest food, beverage and agriculture companies, it became clear that leveraging SEER’s technologies is an immediate way to harvest and monetize high-quality carbon credits for the mutual benefit of the companies and their shareholders,” said Trinh.
“SEER’s wholly-owned affiliate, MV Technologies, has two primary opportunities to decarbonize and generate valuable carbon credits,” said Combs. MV has its patented V3RU oil field technology and its proprietary and proven biogas conditioning solution. SEER’s wholly owned MV affiliate has more than 150 of its gas treatment and odor control systems installed at refineries and biogas facilities throughout North America with some of the world’s largest energy and utility companies, as well as food processors, brewers, landfills, and food, beverage and agriculture industries. “We believe there is a tremendous initial opportunity for SEER and DevvStream to partner for the benefit of SEER’s customers to harvest and sell fully-insured carbon credits that are created in and around the biogas and RNG industry,” said Combs. “We have been focused on decarbonization technologies and opportunities for SEER and, after multiple conferences and strategic planning sessions with DevvStream management, it was a logical next step to partner with them to assess our existing opportunities to harvest and monetize carbon credits arising out of the renewable biogas market and the capture and conditioning of methane in the oil fields,” Combs added.
“After discussions with the DevvStream team, it became clear that another possible source for decarbonization and generation of carbon credits arises from our patented V3RU oil field technology. This variable volume vapor recovery unit can be placed at any number of the thousands of smaller vertical gas and oil wells throughout the US to prevent the emissions of harmful fugitive greenhouse gases into the atmosphere. Working with DevvStream and having access to its customers and decarbonization projects, we are better positioned to place our V3RU technology, quantify the beneficial impact of the solution, and, ultimately, generate valuable carbon credits that can be monetized for the benefit of all parties.” said Combs.
“Finally, having achieved remarkable initial success with our Saudi partner, Eco Tadweer, and impressive results with our early city park planting and grow studies as part of the Green Riyadh initiative (https://www.rcrc.gov.sa/en/projects/green-riyadh-project), SEER and DevvStream are confident we can expand our collective participation in these projects to include more effective generation and monetization of high-value carbon credits to enhance the already enormous environmental impact of the Kingdom’s efforts to decarbonize the planet,” said Combs.
“Eco Tadweer is excited about SEER and DevvStream working together,” said Areej Alturki, President of Eco Tadweer. “Their partnership will add to the ongoing success, both environmentally and financially, that Eco Tadweer is achieving here in the Kingdom. As we move forward with our plans to produce the highest quality biocarbon here in Saudi Arabia, we will be committed to maximizing the monetization of the insured carbon credits and look forward to working with our partner, SEER, and DevvStream to achieve maximum value for all our Saudi stakeholders,” concluded Alturki.
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About Strategic Environmental & Energy Resources, Inc.
Strategic Environmental & Energy Resources, Inc. (SEER) (OTCQB: SENR), identifies, secures, and commercializes patented and proprietary environmental clean technologies in several multibillion-dollar sectors (including oil & gas, renewable fuels, and all types of waste management, both solid and gaseous) for the purpose of either destroying/minimizing hazardous waste streams more safely and at lower cost than any competitive alternative, and/or processing the waste for use as a renewable fuel for the benefit of the customers and the environment. SEER has two wholly-owned operating subsidiaries: MV Technologies, LLC and SEER Environmental Materials, LLC; and two majority-owned subsidiaries: Paragon Waste Solutions, LLC; and PelleChar, LLC. For more information about the Company visit: www.seer-corp.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.
This press release contains "forward-looking statements" within the meaning of various provisions of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates," and other terms with similar meaning. Although the company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Such forward-looking statements should not be construed as fact. Statements in this press release regarding future performance or fiscal projections, the cost-effectiveness, impact, and ability of the Company's products to handle the future needs of customers are forward-looking statements. The information contained in such statements is beyond the ability of the Company to control, and in many cases the Company cannot predict what factors would cause results to differ materially from those indicated in such statements. All forward-looking statements in the press release are expressly qualified by these cautionary statements and by reference to the underlying assumptions.
