NEO Exchange Expands Coverage In Carbon Credits Market with Public Listing of DevvStream
Toronto | January 17, 2023 – Today, NEO welcomes DevvStream Holdings Inc. (“DevvStream” or the “Company”) to ring the bell in celebration of its listing on the NEO Exchange. A carbon credit management and investment company focused on technology-based projects, DevvStream is now available for trading on NEO under the symbol DESG.
With today’s launch, DevvStream becomes the third company in the carbon credits market to go public on the NEO Exchange, Canada’s Tier 1 exchange fueling the innovation economy. DevvStream provides upfront capital for sustainability projects in exchange for carbon credit rights, which are further managed through a proprietary blockchain-based platform.
“This is an exciting milestone for DevvStream. We are thrilled to partner with the NEO Exchange, which is directly aligned with our values of innovation, excellence, and a novel approach to solving crucial issues facing the planet,” commented Sunny Trinh, CEO of DevvStream. “We are an early mover in the public arena with this business model, and look forward to providing public investors with access to our holistic, unique, tech-focused climate finance approach. As a result of our listing on NEO, we are well-positioned to capitalize on our pipeline and further our mission to reverse climate change, while providing exposure to high-quality carbon offset projects to our investors.”
Through its unique strategy of tackling climate finance, DevvStream invests in green projects that generate renewable energy, improve energy efficiencies, eliminate or reduce emissions, or sequester carbon directly from the air. Investors can trade shares of DESG through their usual investment channels, including discount brokerage platforms and full-service dealers.
“DevvStream is a lighthouse example of a disruptor that is poised to effect real change, under the leadership of an experienced management team and with a multi-faceted business model that addresses environmental, social, and governance aspects. It’s another quality company actively working to build a better tomorrow – and purposefully choosing to go public on the NEO Exchange,” noted Jos Schmitt, President and CEO of NEO. “NEO has become the venue of choice for leaders in the innovation economy who are seeking an exchange that supports their growth, embraces technology, pursues continuous innovation, and provides exceptional service in addition to increased investor awareness and quality of trading. We are honoured to welcome DevvStream to the NEO family.”
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About the NEO Exchange
The NEO Exchange is Canada’s Tier 1 stock exchange for the innovation economy, bringing together investors and capital raisers within a fair, liquid, efficient, and service-oriented environment. Fully operational since 2015 and acquired by Cboe Global Markets in 2022, NEO provides access to trading across all Canadian-listed securities on a level playing field. NEO lists companies and investment products seeking an internationally recognized stock exchange that enables investor trust, quality liquidity, and broad awareness including unfettered access to market data.
DevvStream believes that the solutions necessary to reverse climate change exist in the world today but are encumbered by barriers such as lack of financing. The company helps to remove this barrier through the use of carbon credits. DevvStream has expertise in both the voluntary and compliance carbon credit markets. Using this expertise, the company is able to provide non-dilutive capital to enable companies with solutions necessary to reduce or eliminate CO2 emissions in exchange for carbon credit rights. Through these rights, the Company generates and manages carbon credits by utilizing the most technologically advanced, blockchain-based platform. The Company invests in and partners with companies having green technologies that generate renewable energy, improve energy efficiencies, eliminate or reduce emissions and sequester carbon directly from the air. DevvStream’s business model includes mutual collaboration and partnership with Devvio, a leading ESG-focused blockchain company, and United Cities North America, an affiliate of the United Nations with a focus building sustainable and net-zero smart cities and communities.
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