DevvStream Unveils ‘Next Evolution’ of Its Crypto-Based Digital Infrastructure Strategy

A Calgary-based carbon management firm is looking to raise up to $300 million in senior secured convertible notes with an aim to build a blockchain-based treasury and launch a tokenization platform for sustainability-linked infrastructure.

DevvStream Corp, which recently completed an initial funding of $10M, says that most of the proceeds will go toward the purchase of liquid digital assets.

“This $300 million facility allows us to improve capital efficiency, reduce dilution, and bring global investors into the carbon ecosystem through a digital gateway,” stated Sunny Trinh, chief executive officer of DevvStream.

Founded in 2021, DevvStream’s mission is to “create alignment between sustainability and profitability,” helping organizations achieve climate initiatives while also improving their financial health.

This latest strategy from DevvStream is expected to provide opportunities to generate multiple revenue streams, including staking yields, while reducing reliance on equity financing through crypto-backed credit options, according to Trinh.

“The combination of crypto reserves and real-world asset tokenization represents the next evolution of our capital strategy,” the CEO said.

DevvStream, which operates a portfolio consisting of carbon sequestration credits for sale to corporations and governments seeking to offset emissions, collaborates with industry partners to deliver end-to-end solutions.

For example, the company recently inked a deal with Energy Efficient Technologies, an engineering firm that reduces electricity use in commercial buildings.

“We believe EET’s proven record of double-digit energy savings positions us to unlock a high-value stream of efficiency-based credits and cost-sharing revenue,” remarked Trinh in June. “By layering shared savings on top of carbon- and I-REC monetization, we anticipate further diversifying DevvStream’s income while helping businesses cut costs and emissions.”

DevvStream, which trades publicly since late 2024 as DEVS, is also “actively exploring the tokenization of its existing environmental asset portfolio” and “anticipates further announcements” as its platform evolves.