DevvStream Corp 8-K, filed May 8, 2025
DevvStream Corp. (DEVSF)
8-K
2025-05-08
For: 2025-05-07
View Original
Added on
April 12, 2026
About this 8-K
DevvStream Corp filed this 8-K on May 8, 2025, reporting on events of May 7, 2025.
Items reported
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or Section 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 7, 2025
(Exact name of registrant as specified in its charter)
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(State or other jurisdiction of incorporation or organization)
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(Commission File Number)
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(I.R.S. Employer Identification No.)
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(Address of principal executive offices)
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(Zip Code)
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(647 ) 689-6041
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the
following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
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Trading
Symbol(s)
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Name of each exchange on
which registered
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the
Securities Exchange Act of 1934.
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or
revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 8.01. |
Other Events.
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On May 7, 2025, the Company issued a press release announcing that it has signed a non-binding Memorandum of Understanding (“MoU”) with Fayafi Investment Holding (“Fayafi”), one of the UAE’s most forward-thinking and diversified investment platforms. The agreement outlines the intent to launch Fayafi x DevvStream
Green Ventures, a global joint venture designed to accelerate investment in decarbonization and climate infrastructure projects worldwide. The Company anticipates entering into a definitive binding agreement reflecting the terms outlined in the MOU
in Q2 2025, but there can be no assurances the Company will be able to achieve this. A copy of the press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference, and the foregoing description of the
press release is qualified in its entirety by reference to such exhibit.
| Item 9.01 |
Financial Statements and Exhibits.
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(d) Exhibits:
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Exhibit No.
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Description
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Press Release dated March 19, 2025.
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104
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Cover page Interactive Data File (embedded in the cover page formatted in Inline XBRL)
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
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Dated: May 7, 2025
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DEVVSTREAM CORP.
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By:
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/s/ David Goertz
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Name:
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David Goertz
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Title:
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Chief Financial Officer
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Exhibit 99.1
DevvStream Corp and Fayafi Investment Holding Sign MoU to Explore Creation of “Fayafi x DevvStream Green Ventures” to Accelerate Global Sustainability
Investments
Proposed capital-light joint venture aims to unlock high-impact decarbonization and energy transition opportunities
CALGARY, Alberta, May 7, 2025 — DevvStream Corp. (Nasdaq: DEVS) (“DevvStream” or the “Company”), a leading carbon management firm specializing
in the development, investment, and sale of environmental assets, today announced that it has signed a Memorandum of Understanding (“MoU”) with Fayafi Investment
Holding (“Fayafi”), one of the UAE’s most forward-thinking and diversified investment platforms. The agreement outlines the intent to launch Fayafi x DevvStream
Green Ventures, a global joint venture designed to accelerate investment in decarbonization and climate infrastructure projects worldwide.
Fayafi x DevvStream Green Ventures is expected to combine DevvStream’s operational and technical expertise with Fayafi’s capital resources, institutional network, and
ESG-focused investment strategy. The platform would focus on identifying, funding, and scaling a pipeline of environmental projects across high-growth regions. Firm agreements are expected in Q2 2025, with initial project deployments targeted for
Q3/Q4 2025. The initial funding commitment is expected to be $100 million, with the potential to scale significantly based on project performance and capital deployment efficiency.
“Fayafi x DevvStream Green Ventures is envisioned as a purpose-built platform to meet the needs of climate and energy transition investment in a changing world,” said Carl
Stanton, Chairman of DevvStream. “Fayafi, as a strategic and financial partner, represents an ideal counterpart to help us scale quickly and responsibly, providing significant upside to DevvStream investors.”
Bobby Campbell, the Chief ESG Investment Officer for Fayafi Investment Holding added, “This MoU marks an important step toward the future of climate finance. We believe in
the potential of this partnership and are committed to continuing the dialogue with DevvStream.”
The joint venture will be structured as an independent entity, with ownership expected to be allocated 80% to Fayafi and 20% to DevvStream, and economics shared on a
pro-rata basis. This capital-light model enables DevvStream to expand its global presence in energy transition and environmental assets while unlocking recurring revenue streams from project management, consulting, and carbon monetization—with
minimal upfront investment.
Fayafi will serve as the financial and strategic engine of the venture, leveraging its institutional relationships and global network to drive market access, regulatory
approvals, and execution at scale. The MoU also grants DevvStream exclusivity during the feasibility phase and a first right of refusal on carbon-related opportunities, underscoring a shared commitment to long-term alignment and disciplined project
selection.
As operational and technical lead, DevvStream would be responsible for identifying and evaluating high-impact sustainability projects, structuring and registering
environmental assets under global standards, managing implementation, and overseeing the full lifecycle of carbon credit generation and monetization. Fayafi’s role as financial sponsor and market enabler would complement DevvStream’s execution,
supporting efficient scaling into undercapitalized markets.
This proposed joint venture marks a pivotal step in DevvStream’s strategic evolution, allowing the Company to expand its footprint, enhance monetization pathways, and
deliver scalable climate impact through a collaborative global platform.
About DevvStream
Founded in 2021, DevvStream is a leading carbon management firm specializing in the development, investment, and sale of environmental assets, energy
transition, and innovative carbon management solutions. 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 energy transition and carbon markets, 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 or renewable energy generation in exchange for a
percentage of generated credits or I-RECs.
For more information, please visit www.devvstream.com.
About Fayafi Investment Holding
Fayafi Investment Holding Limited is a global investment platform headquartered in Dubai, UAE, with a diversified portfolio across sustainability, AI,
defense, biotech, and real estate. As the first UAE-based company listed on the Vienna Stock Exchange and the issuer of a bankable certificate under the SIX Swiss Exchange, Fayafi is widely recognized for its innovative, long-term investment
philosophy and commitment to ESG leadership.
Cautionary Note Regarding Forward-Looking Statements
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 or I-REC market traded
value, the potential of carbon credits to provide carbon emission reductions and reduce carbon emissions to limit global warming, estimated CO2 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 generate I-RECs, carbon credits, or tax credits each year, or the market growth and value of these markets, 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. Any agreement described herein is subject to customary conditions and the ongoing performance of project partners, and there can be no assurance that all contemplated environmental
assets will be issued or monetized.
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.
Contact
ir@devvstream.com
Phone: (408) 365-4348