XCF Global, Southern Energy, DevvStream plan SAF collaboration

XCF Global Inc. (NASDAQ: SAFX), Southern Energy Renewables Inc., and DevvStream Corp. (NASDAQ: DEVS) signed a non-binding memorandum of understanding to explore developing an integrated low-carbon fuels platform for aviation and industrial customers.

The collaboration would combine fuel supply, logistics, and environmental-attribute value into a unified commercial offering. The companies plan to evaluate sustainable aviation fuel production pathways, including HEFA-based technology and biomass-to-methanol-to-jet processes.

Under the agreement, the parties intend to assess developing New Rise Louisiana, a proposed SAF facility comparable in size to XCF's New Rise Reno facility, which has a production capacity of approximately 40 million gallons annually.

Southern's planned Louisiana biomass-to-fuel facility is expected to produce 28 million gallons of SAF and 220 kilotons of methanol per year, requiring an estimated $1.4 billion total project investment. The Louisiana Community Development Authority has authorized up to $402 million in potential revenue bonds for Southern's project, subject to additional approvals and market conditions.

DevvStream would lead environmental-attribute monetization, including carbon credits, CORSIA units, and renewable energy certificates. The companies plan to evaluate lifecycle analysis methodologies and carbon-intensity optimization systems.

The parties cite projections that the U.S. SAF market could reach nearly $7 billion by 2030, with global demand exceeding 5.5 billion gallons supporting a market of more than $25 billion. Global SAF market projections suggest potential growth to exceed $250 billion by 2050.

Any specific agreements remain subject to due diligence, negotiation of definitive agreements, corporate approvals, and regulatory permits. The MOU does not commit any party to proceed with particular transactions or projects.

XCF operates the New Rise Reno facility and is advancing pipeline projects in Nevada, North Carolina, and Florida. The company has approximately 208.3 million outstanding shares with less than 20% free float as of the announcement date.

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