A publicly traded carbon company in Canada is buying a lot of new carbon credits to protect the Amazon rainforest. And they’re coming to the Nasdaq next.

‍What’s happening:‍

• DevvStream Holdings (CBOE: DESG) has entered into a new purchase agreement for 1.2M carbon credits from the Ipixuna REDD+ Project
  

By the numbers:‍

• The new purchase of carbon credits is anticipated to preserve approximately 200,000 hectares of pristine Amazon rainforest territory
  
• The project is expected to reduce carbon dioxide emissions by roughly 400,000 tonnes annually and protect against deforestation
  

Why it matters:‍

• DevvStream has entered into a deal with SPAC Focus Impact Acquisition Corp (NASDAQ: FIAC) to list onto the Nasdaq, which is expected to close imminently and would make DevvStream one of the first publicly listed companies focused on carbon credits on a major stock exchange in the United States
  

Going deeper:‍

• DevvStream has taken a unique approach to generating carbon credits, with initial projects being focused on electric vehicle charging infrastructure, manufacturing and even semiconductors

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