E-Fill Electric partners with DevvStream to drive carbon credit generation from India’s EV Charging Network

E-Fill Electric, a provider of technology-driven electric vehicle (EV) solutions, has entered into a definitive agreement with DevvStream Holdings Inc., a firm specializing in carbon credit project co-development and generation through technology-based solutions.

The partnership aims to leverage E-Fill Electric’s network of EV charging stations in India for carbon credit generation.

Announced on World Environment Day, this partnership is expected to create a new revenue stream for E-Fill Electric, enabling it to expand its research and development (R&D) and manufacturing capabilities.

How will the EVCCOP program work?

E-Fill Electric will serve as a launch partner for DevvStream’s Electric Vehicle Charging Carbon Offset Program (EVCCOP) in India.

The EVCCOP aims to accelerate electric mobility by generating revenue for EV charging network owners and operators through the production and sale of voluntary carbon credits. 

These credits are generated when EV owners charge their vehicles. The program is designed for Charge Point Operators and Mobility Service Providers that own or operate Level 1, Level 2, or DC Fast Charging stations, whether public or private, for both passenger vehicles and heavy-duty vehicles like e-buses and e-trucks.

According to company estimates, a Level 2 EV charger can generate approximately 40 credits per year with medium use, while a Level 3 EV charger can generate around 500 credits annually.

Leadership comments

Mayank Jain, CEO of E-Fill Electric, emphasized the strategic importance of this collaboration. He stated, “DevvStream’s unparalleled expertise in carbon markets aligns seamlessly with our vision to foster the widespread adoption of EVs in India. Through the EVCCOP, we are poised to create a lucrative revenue stream while significantly reducing greenhouse gas emissions.”

Sunny Trinh, CEO of DevvStream, added, “With India prioritizing the adoption and growth of domestic manufacturing of EVs, there is a significant need for expanded EV charging infrastructure to support this shift, and carbon markets present a massive untapped source of funding for technology providers like E-Fill Electric.”

Rising EV sales

The EVCCOP comes at a critical time for India, where EV sales are rising, driven by government incentives and a growing emphasis on environmental sustainability. As India aims to become a manufacturing hub for EVs, robust charging infrastructure is essential to support this transition.

The EVCCOP incentivizes EV charging through the production and sale of voluntary carbon credits, providing a compelling financial incentive to boost EV infrastructure. With over 12,000 public charging installations already in place, India's EV charging landscape is set for significant growth.