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February 9, 2023 – TheNewswire – DevvStream (NEO: DESG) has announced progress in its methane abatement program, which involves plugging abandoned oil and gas wells using next-gen sealant technology.
The program has sealed 7 wells and aims to address the estimated 3 million decommissioned wells in the US and 225,000 in Canada. Methane reduction is crucial in fighting climate change, as methane releases contribute to 30% of global temperature increases.
DevvStream is making the program more efficient, affordable and scalable by filing a provisional patent for its programmatic approach to wellbore management and carbon credit generation. This approach aggregates multiple mitigation activities into a single offset project, improving efficiency, cost, and scalability. DevvStream’s efforts are a step towards a greener future.
Sunny Trinh, CEO of DevvStream stated: “Tackling the methane problem by sealing abandoned oil and gas wells is a significant challenge, but thanks to the proprietary nano-based technology developed by TS-Nano, we now have a tested, field-proven method for closing extremely thin microcracks (below 30 microns) in existing wellhead barriers.”
DevvStream is a technology-based ESG company that advances the development and monetization of environmental assets, with an initial focus on carbon markets.
Shares of DevvStream trade on the NEO Exchange under the ticker symbol DESG. For more information visit www.devvstream.com
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