DevvStream Holdings Inc, a leading carbon credit project co-development and generation firm specializing in technology-based solutions, and Green Energy Technology, a turnkey installer of electric vehicle charging stations for last-mile delivery services, hotels, casinos, and high-end retail enterprises, announced a definitive agreement to leverage GET’s network of EV charging stations in the New York City metropolitan area for carbon credits generation.
This Agreement will establish a new revenue stream for GET, enabling further expansion of the company’s growing EV charging infrastructure within and beyond the New York City area while building upon DevvStream’s rapidly expanding portfolio of EV charging locations.
By encouraging increased EV charging and usage, which in turn displaces gasoline-fueled vehicles on the roadways, GET’s charging infrastructure has the potential to significantly reduce greenhouse gas emissions while generating high volumes of carbon credits.
DevvStream estimates that the average Level 2 EV charger generates approximately 40 credits per year with medium use, while a Level 3 EV charger generates approximately 500 credits annually. In exchange for services related to the development and monetization of carbon credits from GET’s EV charging stations, DevvStream will retain a portion of the carbon credits generated.
“Electric vehicles are a key driver of our shift toward a clean energy future, but it is imperative that we invest in the infrastructure needed to facilitate that transition,” said Sunny Trinh, CEO of DevvStream. “Carbon credit revenues represent an untapped financing source for infrastructure providers, and we are committed to working alongside leading EV charging companies, like Green Energy Technology, to unlock those revenues in order to encourage the expansion of their charging infrastructure. We look forward to working with GET to generate credits from their current inventory while dramatically increasing their reach.”
“What excites us most about the work we do is that we know we are contributing to the greening of America,” said Marc Horowitz, owner/partner of GET. “We track how much carbon we prevent from being emitted into the atmosphere by measuring the exact number of kilowatt hours (“kWh”) of electricity that are being dispensed from our DC fast charger (“DCFC”) ports. Based on conservative projections confirmed by third-party vendor analysis, we estimate that over 13 million kWh will be consumed in 2024 alone, based on no more than 3 charges per port per day on our contracted properties. With plans to install over 80 DCFC ports this year, we will enable our client properties to make a significant impact on their ESG goals. We even plant a tree in the ground for every charger we install.”
Today’s announcement comes on the heels of DevvStream’s recently signed agreement with Go-Station, an EV charging solutions provider, to generate high-quality carbon credits via charging infrastructure around the United States.
Through that agreement, the partners will also collaborate on the development of plans to install additional charging stations in Canada, and the subsequent generation of high-value credits under the Canadian Compliance Clean Fuel Regulations program as well as the British Columbia Low Carbon Fuel Standard program. Taken together, these announcements demonstrate DevvStream’s commitment to becoming the leading carbon credit generation partner for EV infrastructure developers worldwide.