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materiality 0.70
DevvStream affiliate Monroe signs $1B carbon capture deal with Southern Energy; 900k shares cancelled in credit reversal
DevvStream Corp.
- Monroe (50% owned by DevvStream) signed Collaboration Agreement with Southern Energy for $1B methanol/SAF facility in Louisiana.
- Monroe will provide CO2 sequestration via Class VI storage site (expected 2027); Southern Energy facility targets 2028.
- DevvStream expects definitive binding agreements in Q2 2025.
- Concurrently, DevvStream reversed a carbon credit transaction: 900,000 common shares cancelled, reducing shares outstanding.
- Reverse transaction reduces DevvStream's reported carbon credit inventory but has no impact on ongoing operations.