DevvStream Corp., a prominent firm specializing in the co-development and generation of carbon credit projects through technology-based solutions, has announced its official admittance into the Singapore Carbon Market Alliance (SCMA). The SCMA, led by Singapore’s Economic Development Board and IETA, is an exclusive platform for trading greenhouse gas reductions.

Expanding Opportunities Under Article 6

The SCMA focuses on high-integrity carbon credits that align with Article 6 of the Paris Agreement. This key framework allows countries with cooperative agreements with Singapore to trade carbon credits, supporting global climate action efforts. Currently, Singapore maintains such agreements or Memorandums of Understanding with over two dozen countries, including Indonesia, the Philippines, and Brazil.

DevvStream aims to gain Eligible Entity status through SCMA, allowing direct engagement with countries under Singapore’s implementation agreements. This status will unlock strong offtake channels for DevvStream’s Article 6 carbon credits and growing international renewable energy certificates.

Also read: SEER and DevvStream Join Forces to Monetize Carbon Credits

The Importance of Article 6 to DevvStream’s Growth

Article 6 of the Paris Agreement supports global climate efforts by creating mechanisms for emissions reductions through carbon credits. Though aimed at governments, companies like DevvStream play a crucial role in developing projects that generate Article 6 credits.

With SCMA membership, DevvStream aims to produce carbon credits from emission projects in partner countries, enabling direct sales to Singapore. DevvStream expects to boost sales as one of the few project developers within the SCMA.

Sunny Trinh, CEO of DevvStream, said, “When COP29 members authorized emissions trading under Article 6.4 last year in Baku, the vision was to create a global compliance carbon market that will create a level of demand that would dwarf the demand we currently see in the Voluntary Carbon Market.”

He added, “As such, any credit that has a realistic pathway to Article 6 compliance should be reasonably expected to trade at a substantial premium, and initial evidence suggests this is indeed the case. DevvStream is proud to have been invited to join the SCMA and looks forward to becoming an Eligible Entity in Singapore, creating a clear mechanism for achieving compliance with Article 6 and conducting sales directly with the Singaporean government.”

Joining the SCMA is a key milestone for DevvStream, advancing its leadership in carbon credits and renewable energy in ASEAN.

NeoCarbon, a leader in Direct Air Capture (DAC) technology, and Carbonaide, a trailblazer in carbonisation technology for concrete production, have formed a strategic partnership that seeks to capture CO2 from the atmosphere for permanent storage in concrete. The collaboration will drastically reduce carbon emissions within the building and construction sector, with carbon removal credits expected by 2025.

Combining DAC Technology and Carbonisation for Sustainable Concrete Production

The partnership leverages NeoCarbon’s innovative DAC technology, which captures CO2 directly from the air, and Carbonaide’s carbonisation process, which stores CO2 in precast concrete. NeoCarbon’s modular DAC system ensures rapid and scalable CO2 capture, while Carbonaide’s technology effectively mineralises the CO2 within concrete, creating a permanent carbon storage solution. This collaborative effort will be instrumental for concrete producers as it might serve as an entry point toward minimizing carbon footprint. Additionally, the approach is helpful for building a low-carbon value chain of carbon capture and storage.

Re-Imagining the Concrete Industry as a Carbon Sin

NeoCarbon CEO René Haas said, “Together with Carbonaide, our goal is to address theurgent need for effective carbon capture solutions in the concrete industry. Bycombining NeoCarbon’s DAC technology with Carbonaide’s carbonisation expertiseand technology, we aim to transform concrete production into a carbon sink.” 

A Step Toward a Sustainable Future in Construction

Tapio Vehmas, CEO of Carbonaide added, “The cooperation with NeoCarbon allows usto move a significant step forward in transforming the fossil concreteproduction process to a more sustainable one. We are opening new possibilitiesfor carbon capture and utilisation, paving the way for a more sustainablefuture for the construction industry.”

Also read: Soletair Power and Carbonaide Turn CO₂ Emissions into Carbon-Storing Concrete

A Key Deployment Opportunity in Germany

The partnership is particularly relevant in Germany, where concrete producers are actively seeking solutions to reduce their carbon emissions. With strong demand for sustainable practices, the collaboration is also well-positioned to make an impact in this key market.