05:44 PM EDT, 05/13/2025 (MT Newswires) -- DevvStream ( DEVS ) signed a memorandum of understanding with Fayafi Investment Holding of the United Arab Emirates to explore creating a venture to bolster investment in decarbonization and climate infrastructure projects worldwide.

DevvStream ( DEVS ), based in Calgary, said Tuesday in a statement that Fayafi x DevvStream Green Ventures "will be structured as an independent entity with ownership expected to be allocated 80% to Fayafi and 20% to DevvStream ( DEVS ) and economics shared on a pro-rata basis."

"Fayafi will serve as the financial and strategic engine of the venture" with the

initial funding commitment expected to be $100 million, DevvStream ( DEVS ) said. Firm agreements on the formation of the venture are expected in Q2.

DevvStream ( DEVS ) shares rose 22% in after-hours trading.