Mr. Sunny Trinh reports

DEVVSTREAM TO LEVERAGE GO-STATION'S NETWORK OF EV CHARGING SITES FOR CARBON CREDIT GENERATION

Devvstream Holdings Inc. and Go-Station Inc., an electric vehicle charging company offering a complete range of EV charging services and turnkey solutions, have signed a definitive agreement to leverage Go-Station's network of EV charging stations in the United States for carbon credit generation. This agreement will establish a new revenue stream for Go-Station, enabling further expansion of the company's EV charging infrastructure.

By encouraging increased EV charging and usage, which in turn displaces gasoline-fuelled vehicles on the roadways, Go-Station's charging infrastructure has the potential to significantly reduce greenhouse gas emissions while generating high volumes of carbon credits. 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, according to company estimates. In exchange for services related to the development and monetization of carbon credits from Go-Station's EV charging stations, Devvstream will retain a portion of the carbon credits generated. Carbon credits generated within the United States are expected to be sold on the voluntary carbon market.

To facilitate the expansion of Go-Station's current charging network beyond the United States, the agreement also stipulates that Go-Station will collaborate with Devvstream on a plan to install additional charging stations in Canada. EV charging in Canada can generate credits under the Canadian Compliance Clean Fuel Regulations (CFR) program as well as the British Columbia Low Carbon Fuel Standard (LCFS) program. According to industry data, the price of CFR credits is expected to be between $300 and $350 per credit, while the BC LCFS credit price averaged around $495 in October, 2023.

Devvstream's low-carbon fuels adviser, Dr. Michael Rensing, will oversee the generation of CFR and BC LCFS credits under this agreement. Dr. Rensing has been instrumental in developing and implementing successful low-carbon fuel policies and legislation, including British Columbia's, which is one of the most successful LCFS programs in North America. Carbon credits that are sold into the BC LCFS market are among the world's highest in value, with prices in 2022 averaging over $440 per credit.

"According to CleanTechnica.com, over 670,000 EVs were sold in the first half of 2023, with over 80 per cent of those being battery electric vehicles," said Sunny Trinh, chief executive officer of Devvstream. "While EV adoption has undeniably grown, the lack of adequate charging infrastructure has proven to be a barrier. Our partnership with Go-Station helps augment the expansion of charging infrastructure by providing a built-in financing mechanism-high-quality carbon credits. In particular, we are extremely excited about the CFR and BC LCFS credits that will be generated in Canada, which are expected to command a premium price reflective of their high value. This project combines the highly scalable nature of Devvstream's business model with the significant opportunity that exists within carbon markets for private sector companies to drive alternative revenue streams stemming from sustainable business practices."

"Deploying a first-class charging solution is an expensive proposition with a long payback cycle," said Andrew Hisey, president and chief executive officer of Go-Station. "Go-Station and Devvstream are committed to finding creative financing solutions to deploy charging stations at scale and enhance the EV charging experience for everyone. We are excited to leverage both companies' groundbreaking innovations and collective expertise to tackle the challenges of expanding EV charging access."

Devvstream stakeholders can learn more about this and other initiatives during the 28th Conference of the Parties (COP28) to the United Nations Framework Convention on Climate Change to be held in Dubai, United Arab Emirates, from Nov. 30 to Dec. 12, 2023. Members of Devvstream's leadership team will travel to Dubai to join world leaders, politicians, experts and private sector leaders for discussion of the climate crisis, and solutions at hand, on a global level. Company representatives will share insights on the critical role that both compliance and voluntary carbon markets must play in helping governments and corporations achieve net zero goals. Interested parties can request a meeting with Devvstream via e-mail to the following address: COP28@devvstream.com. Note that the company's leadership is only available to meet from Dec. 3 through Dec. 8.

About Go-Station

Go-Station is an EV charging company that offers a complete range of EV charging services, including turnkey charging solutions. The company serves a variety of verticals including multifamily developments, workplaces, retail centres, fuelling stations, ports of entry and fleet operators transitioning to electrification.

About Devvstream Holdings Inc.

Founded in 2021, Devvstream is a technology-based sustainability company that advances the development and monetization of environmental assets, with an initial focus on carbon markets. Devvstream works with governments and corporations worldwide to achieve their sustainability goals through the implementation of curated green technology projects that generate renewable energy, improve energy efficiencies, eliminate or reduce emissions and sequester carbon directly from the air-creating carbon credits in the process.

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