US Market News
6日前
CORRECTING and REPLACING DevvStream Announces $6 Million Equity Investment From EEME Energy, No Additional Share Issuances Expected Prior to Merger; Gives Notice to Terminate $300 Million Equity Line of CreditJune 4, 2026 3:05 PM
Business Wire $1.5 million already funded; preferred stock structure adds no debt, has no maturity date, and carries no repayment obligation Headline of release should read: DevvStream Announces $6 Million Equity Investment From EEME Energy, No Additional Share Issuances Expected Prior to Merger; Gives Notice to Terminate $300 Million Equity Line of Credit (instead of DevvStream Announces $6 Million Equity Investment from EEME Energy; Gives Notice to Terminate $300 Million Equity Line of Credit) The updated release reads: DEVVSTREAM ANNOUNCES $6 MILLION EQUITY INVESTMENT FROM EEME ENERGY, NO ADDITIONAL SHARE ISSUANCES EXPECTED PRIOR TO MERGER; GIVES NOTICE TO TERMINATE $300 MILLION EQUITY LINE OF CREDIT $1.5 million already funded; preferred stock structure adds no debt, has no maturity date, and carries no repayment obligation DevvStream Corp. (NASDAQ: DEVS) (“DevvStream” or the “Company”) today announced that it has entered into a binding term sheet with EEME Energy SPV I, LLC (“EEME”) for a $6.0 million private placement of the Company’s Series A Non-Redeemable Convertible Preferred Stock. EEME has already funded $1.5 million of the investment. The Company also announced that it has given notice to terminate its equity line of credit purchase agreement, under which up to $300 million of common shares could have been issued and sold over time, simplifying the Company’s capital structure as it works toward completing its previously announced business combination with XCF Global, Inc. (NASDAQ: SAFX) (“XCF”) and Southern Energy Renewables, Inc. (“Southern”). A $6 Million Investment Built for the Merger The EEME investment is designed to do two specific jobs: fund capital requirements under the business combination agreement and add working capital, without adding debt. $6.0 million total investment, with $1.5 million already received and the balance to be funded at one or more subsequent closings. $5.0 million of net proceeds will fund DevvStream’s investment in Southern. $1.0 million will be used for DevvStream general working capital. Permanent equity structure: the preferred stock has no maturity date, no mandatory redemption, and no repurchase obligation. Limited anticipated conversion pressure: the Series A Preferred Stock is convertible into common stock at a conversion price based on the earlier of (a) the five-day volume-weighted average price (“VWAP”) of XCF common stock during the five trading days immediately following the closing of the business combination, or (b) the five-day VWAP of the Company’s common shares during the five trading days immediately following any termination of the business combination agreement, in each case subject to customary adjustments to be set forth in definitive documentation. Because no conversion price can be established until the applicable five-day VWAP measurement period has run, the Company anticipates limited conversion activity prior to the closing of the business combination. Dividends are non-cumulative and payable only if declared by the board, in cash or stock at the Company’s election. Because the conversion price is set by post-closing trading rather than today’s share price, EEME’s return depends on the performance of the combined company. “This investment materially strengthens our balance sheet,” said Sunny Trinh, Chief Executive Officer of DevvStream. “And because the conversion price is set by how the combined company trades after closing, EEME does well when our shareholders do well. Moving to terminate the equity line follows the same logic. We are cleaning up our capital structure ahead of the close.” Notice of Termination of the $300 Million Equity Line With the EEME investment in place and the business combination advancing, the Company determined the equity line no longer fits its financing plans. On June 3, 2026, the Company gave notice of its intention to terminate its equity line of credit purchase agreement, dated October 29, 2024, with Helena Global Investment Opportunities I Ltd., in accordance with its terms. Update on Helena Note Separately, as described in the Company’s Current Report on Form 8-K filed today, on May 28, 2026 the Company received a notice from Helena Global Investment Opportunities 1 Ltd. (“Helena”), the holder of the Company’s senior secured convertible note, asserting an event of default relating to the effectiveness deadline for a resale registration statement and claiming approximately $4.5 million. Helena has instructed the custodian of the Company’s digital asset collateral to liquidate that collateral, valued at approximately $2.8 million, which exceeds the remaining principal balance on the note as calculated by management. The Company disputes certain components of the asserted amount and is evaluating resolution alternatives, including a consensual resolution, while preserving all of its rights, remedies, and defenses. Full details on both the EEME investment and the Helena matter are available in the Company’s Current Reports on Form 8-K filed with the SEC on June 3, 2026. The EEME term sheet is binding on the parties. The closing of the remaining investment is subject to the negotiation and execution of definitive agreements and the satisfaction of customary closing conditions, and no assurance can be given that the transaction will be completed on the terms described, or at all. About DevvStream Corp. DevvStream Corp. (NASDAQ: DEVS) is a carbon management company focused on the development, investment, and sale of environmental assets, including carbon credits and renewable energy certificates. About XCF Global, Inc. XCF Global, Inc. ("XCF") is an emerging sustainable aviation fuel company dedicated to accelerating the aviation industry's transition to net-zero emissions. Our flagship facility, New Rise Renewables Reno, has a permitted nameplate production capacity of 38 million gallons per year, positioning XCF as an early mover among large-scale SAF producers in North America. XCF is working to advance a pipeline of potential expansion opportunities in Nevada, North Carolina, and Florida, and to build partnerships across the energy and transportation sectors to scale SAF globally. XCF is listed on the Nasdaq Capital Market and trades under the ticker, SAFX. About Southern Energy Renewables Inc. Southern Energy Renewables Inc. is a U.S.-based clean fuels, chemicals, technology, and products developer focused on advancing large-scale biomass-to-fuels projects, including sustainable aviation fuel and green methanol. About EEME Energy EEME Energy SPV I, LLC is a special purpose investment vehicle focused on investments in companies in the renewable fuels and energy sector. Additional Information and Where to Find It In connection with the proposed business combination transaction among XCF, DevvStream and Southern, XCF will prepare and file relevant materials with the Securities and Exchange Commission (the “SEC”), including a registration statement on Form S-4 that will contain preliminary proxy statements of DevvStream and XCF that also constitutes a prospectus of XCF (the “Proxy Statements/Prospectus”). A definitive proxy statement is expected to be mailed to stockholders of DevvStream and XCF as of a record date to be established for voting on the proposed business combination transaction and other matters as described in the Proxy Statements/Prospectus. DevvStream, XCF and Southern may also file other documents with the SEC and Canadian securities regulatory authorities regarding the proposed transaction. This communication is not a substitute for any proxy statement, registration statement or prospectus, or any other document that DevvStream and Southern (as applicable) may file with the SEC or Canadian securities regulatory authorities in connection with the proposed transaction. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS OF DEVVSTREAM ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE PROXY STATEMENTS/PROSPECTUS WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED BY DEVVSTREAM OR SOUTHERN WITH THE SEC OR CANADIAN SECURITIES REGULATORY AUTHORITIES, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, IN CONNECTION WITH THE PROPOSED TRANSACTION, WHEN THEY BECOME AVAILABLE BECAUSE THESE DOCUMENTS CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. DevvStream’s investors and security holders will be able to obtain free copies of the Proxy Statement/Prospectus (when they become available), as well as other filings containing important information about DevvStream, Southern, and other parties to the proposed transaction, without charge through the website maintained by the SEC at www.sec.gov. Copies of the documents filed with the SEC by (i) XCF will be available free of charge under the tab “Financials” on the “Investors” page of the XCF’s website at https://xcf.global/investor-relations/financials/sec-filings/ or by contacting the XCF’s Investor Relations Department at safx@xcf.global and (ii) DevvStream will be available free of charge under the tab “Financials” on the “Investor Relations” page of DevvStream’s website at www.devvstream.com/investors/ or by contacting DevvStream’s Investor Relations Department at ir@devvstream.com. Participants in the Solicitation DevvStream, Southern, XCF, EEME and their respective directors and certain of their respective executive officers and employees may be deemed to be participants in the solicitation of proxies from DevvStream’s and XCF’s stockholders in connection with the proposed transaction. Information regarding directors and executive officers of (i) XCF is contained in a Current Report on Form 8-K/A, filed with the SEC on October 31, 2025, its Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 31, 2026, and in other documents subsequently filed with the SEC and (ii) DevvStream is contained in DevvStream’s proxy statement for its 2025 annual meeting of stockholders, filed with the SEC on November 18, 2025 and in other documents subsequently filed with the SEC. Additional information regarding the participants in the proxy solicitations and a description of their direct or indirect interests, by security holdings or otherwise, will be contained in the Proxy Statement/Prospectus and other relevant materials filed with the SEC (when they become available). These documents can be obtained free of charge from the sources indicated above. No Offer or Solicitation This press release is for informational purposes only and is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any offer, solicitation or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. The Series A Preferred Stock described in this press release has not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Cautionary Note Regarding Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, statements regarding: the proposed $6.0 million investment by EEME, including the timing and completion of subsequent closings and the negotiation and execution of definitive documentation; the intended use of proceeds, including the Company’s planned investment in Southern; the proposed business combination among DevvStream, XCF and Southern, including its timing, structure, anticipated benefits and completion; Southern’s clean fuels and green methanol platform and project pipeline; DevvStream’s development and monetization of environmental attributes; the expected termination of the equity line of credit and its effects; and the potential resolution of the matters asserted by Helena. The business combination agreement is binding on the parties but does not obligate the parties to consummate the business combination, which remains subject to conditions described in that agreement and in the parties’ filings with the SEC. Forward-looking statements are based on management’s current expectations and assumptions and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied, including, among others: the risk that definitive documentation for the EEME investment is not executed, or that subsequent closings of the investment are not completed, on the terms described or at all; the risk that the proposed business combination is not completed in a timely manner or at all; the failure to obtain required shareholder, regulatory, court and stock exchange approvals, including the effectiveness of the Form S-4 registration statement and Nasdaq listing approvals; the occurrence of any event, change or other circumstance that could give rise to the termination of the business combination agreement; the effect of the announcement or pendency of the proposed transaction on the parties’ business relationships, operating results and business generally; risks that the proposed transaction disrupts current plans and operations or diverts management’s attention from ongoing business operations; the outcome of any legal proceedings, disputes or asserted claims, including the matters asserted by Helena, the liquidation of digital asset collateral and the Company’s evaluation of resolution alternatives; volatility in the trading price of the Company’s common shares and in the value of digital assets; the Company’s need for, and ability to obtain, additional financing on acceptable terms or at all, and its ability to continue as a going concern; the parties’ ability to satisfy capital and other financing requirements under the business combination agreement; Southern’s ability to develop, finance and construct its projects and achieve commercial operations; XCF’s ability to achieve its operational milestones, including with respect to its production facilities; changes in applicable laws, regulations, policies and government incentives affecting carbon markets, clean fuels, energy and environmental attributes; competition in the markets in which the parties operate and commodity and energy price volatility; the ability to retain key personnel and to maintain compliance with Nasdaq continued listing requirements; risks relating to DevvStream’s planned domestication and other cross-border legal and regulatory matters; and other risks and uncertainties described in DevvStream’s Annual Report on Form 10-K for the fiscal year ended July 31, 2025, filed with the SEC on November 6, 2025, in XCF’s Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 31, 2026, and in subsequent filings with the SEC and with Canadian securities regulatory authorities on SEDAR+ at www.sedarplus.ca. All forward-looking statements speak only as of the date of this press release. DevvStream cautions readers not to place undue reliance on forward-looking statements. DevvStream undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Forward-looking statements archived on the Company’s website or contained in prior communications are not reaffirmed by this press release and should not be relied upon as current as of any later date. View source version on businesswire.com: https://www.businesswire.com/news/home/20260604979531/en/ Investor Relations Contacts
DevvStream Corp. – ir@devvstream.com
XCF Global, Inc. – media@xcf.global
Southern Energy Renewables Inc. – info@southernenergyrenew.com Original: CORRECTING and REPLACING DevvStream Announces $6 Million Equity Investment From EEME Energy, No Additional Share Issuances Expected Prior to Merger; Gives Notice to Terminate $300 Million Equity Line of Credit
US Market News
2週前
DevvStream, XCF Global, and Southern Energy Renewables Confirm Three-Party Business Combination Remains on TrackMay 29, 2026 9:15 AM
Business Wire Parties Clarify That the Business Combination Agreement Remains in Full Force and Effect; Form S-4 Registration Statement Expected to Be Filed in the Coming Weeks DevvStream Corp. (NASDAQ: DEVS) ("DevvStream" or the "Company"), XCF Global, Inc. (NASDAQ: SAFX) ("XCF"), and Southern Energy Renewables Inc. ("Southern") (together, the "Parties") wish to clarify recent media coverage that mischaracterized a current report on Form 8-K filed by DevvStream with the U.S. Securities and Exchange Commission (the "SEC") on May 18, 2026 (the "8-K"). The 8-K reported, among other things, that DevvStream had received fairness opinions in connection with the proposed three-party business combination and that the original Agreement and Plan of Merger between DevvStream and Southern, dated December 3, 2025 (the "Prior Merger Agreement"), had automatically terminated. As disclosed in the 8-K, the Prior Merger Agreement survived the execution of the Business Combination Agreement (the "BCA"), entered into on April 13, 2026 by and among DevvStream, XCF, and Southern. However, the BCA expressly provided that, upon expiration of the Fairness Opinion Termination Rights set forth in the BCA -- which occurred upon receipt of the required fairness opinions by DevvStream and XCF-- the Prior Merger Agreement would automatically terminate without any liability or ongoing obligation to any party. The Parties have confirmed that this automatic termination has occurred in accordance with the terms of the BCA. The termination of the Prior Merger Agreement was a mechanical contractual step required under the BCA framework, not a decision by any party to withdraw from the proposed combination. The BCA among DevvStream, XCF, and Southern remains in full force and effect. The Parties continue to work diligently toward completing the proposed combination and expect to file a registration statement on Form S-4 with the SEC in the coming weeks. The Form S-4 filing is a key step toward obtaining SEC effectiveness and the required shareholder approvals necessary to close the proposed combination. ABOUT DEVVSTREAM CORP. DevvStream Corp. (NASDAQ: DEVS) is a carbon management company focused on the development, investment, and sale of environmental assets, including carbon credits and renewable energy certificates. ABOUT XCF GLOBAL, INC. XCF Global, Inc. (NASDAQ: SAFX) is a U.S.-based producer of renewable diesel and sustainable aviation fuel ("SAF") focused on decarbonizing transportation while supporting domestic fuel supply and energy security. XCF’s flagship facility, New Rise Renewables Reno, has a permitted nameplate production capacity of 38 million gallons per year. XCF is working to advance a pipeline of potential expansion opportunities in Nevada, North Carolina, and Florida, and to build partnerships across the energy and transportation sectors to scale renewable fuels production. XCF is listed on the Nasdaq Capital Market and trades under the ticker, SAFX. ABOUT SOUTHERN ENERGY RENEWABLES INC. Southern Energy Renewables Inc. is a U.S.-based clean fuels, chemicals, technology, and products developer focused on advancing large-scale biomass-to-fuels projects, including sustainable aviation fuel and green methanol. ADDITIONAL INFORMATION AND WHERE TO FIND IT In connection with the proposed business combination transaction among XCF, DevvStream and Southern, XCF will prepare and file relevant materials with the Securities and Exchange Commission (the "SEC"), including a registration statement on Form S-4 that will contain preliminary proxy statements of DevvStream and XCF that also constitute a prospectus of XCF (the "Proxy Statements/Prospectus"). A definitive proxy statement is expected to be mailed to stockholders of DevvStream and XCF as of a record date to be established for voting on the proposed business combination transaction and other matters as described in the Proxy Statements/Prospectus. DevvStream, XCF and Southern may also file other documents with the SEC and Canadian securities regulatory authorities regarding the proposed transaction. This communication is not a substitute for any proxy statement, registration statement or prospectus, or any other document that DevvStream and Southern (as applicable) may file with the SEC or Canadian securities regulatory authorities in connection with the proposed transaction. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS OF DEVVSTREAM ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE PROXY STATEMENTS/PROSPECTUS WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED BY DEVVSTREAM OR SOUTHERN WITH THE SEC OR CANADIAN SECURITIES REGULATORY AUTHORITIES, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, IN CONNECTION WITH THE PROPOSED TRANSACTION, WHEN THEY BECOME AVAILABLE BECAUSE THESE DOCUMENTS CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. DevvStream's investors and security holders will be able to obtain free copies of the Proxy Statement/Prospectus (when they become available), as well as other filings containing important information about DevvStream, Southern, and other parties to the proposed transaction, without charge through the website maintained by the SEC at www.sec.gov. Copies of the documents filed with the SEC by (i) XCF will be available free of charge under the tab "Financials" on the "Investors" page of XCF's website at https://xcf.global/investor-relations/financials/sec-filings/ or by contacting XCF's Investor Relations Department at safx@xcf.global and (ii) DevvStream will be available free of charge under the tab "Financials" on the "Investor Relations" page of DevvStream's website at www.devvstream.com/investors/ or by contacting DevvStream's Investor Relations Department at ir@devvstream.com. PARTICIPANTS IN THE SOLICITATION DevvStream, Southern, XCF, EEME and their respective directors and certain of their respective executive officers and employees may be deemed to be participants in the solicitation of proxies from DevvStream's and XCF's stockholders in connection with the proposed transaction. Information regarding directors and executive officers of (i) XCF is contained in a Current Report on Form 8-K/A, filed with the SEC on October 31, 2025, its Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 31, 2026, and in other documents subsequently filed with the SEC and (ii) DevvStream is contained in DevvStream's proxy statement for its 2025 annual meeting of stockholders, filed with the SEC on November 18, 2025 and in other documents subsequently filed with the SEC. Additional information regarding the participants in the proxy solicitations and a description of their direct or indirect interests, by security holdings or otherwise, will be contained in the Proxy Statement/Prospectus and other relevant materials filed with the SEC (when they become available). These documents can be obtained free of charge from the sources indicated above. NO OFFER OR SOLICITATION This press release is for informational purposes only and is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any offer, solicitation or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This press release contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act that involve substantial risks and uncertainties, including statements regarding the proposed transactions contemplated by the BCA, the anticipated structure, timing and conditions of the proposed transaction, the anticipated filing of the Form S-4 registration statement, and the expected completion of the proposed combination. All statements, other than statements of historical facts, are forward-looking statements. Forward-looking statements concern future circumstances and results and other statements that are not historical facts and are sometimes identified by the words "aim," "may," "will," "should," "potential," "intend," "expect," "endeavor," "seek," "anticipate," "estimate," "believe," "plan," "could," "would," "project," "predict," "continue," "target," or the negatives of these words or other similar terms or expressions that concern the Company's, XCF's, or Southern's expectations, strategy, priorities, plans, or intentions. Forward-looking statements are based upon current plans, estimates, expectations, and assumptions that are subject to risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are based on current expectations, estimates, assumptions and projections and involve known and unknown risks and uncertainties that may cause actual results, developments or outcomes to differ materially from those expressed or implied by such statements. Important factors that could cause actual results, developments or outcomes to differ materially include, among others: (1) changes in domestic and foreign business, market, financial, political, regulatory and legal conditions; (2) the risk that the plant conversion is delayed, not completed on the anticipated timeline, or requires additional capital beyond current expectations; (3) the risk that XCF is unable to achieve the specified annualized revenue and EBITDA thresholds, which depend in significant part on XCF's business performance, operating results, market demand, execution capabilities, and other factors; (4) the risk that Southern does not receive authorization to issue up to $400 million of bonds, that such bonds are delayed, issued on less favorable terms, or not issued at all; (5) the risk that XCF is unable to obtain or maintain compliance with applicable Nasdaq continued listing standards, including regaining compliance with $1.00 minimum bid price requirement, which could result in delisting if compliance is not regained within applicable cure periods; (6) the inability to satisfy or waive the closing conditions contemplated by the business combination agreement; (7) the occurrence of events, changes or other circumstances that could give rise to the termination of the business combination agreement, or that could result in disputes or litigation relating to the interpretation, enforceability or performance of the binding provisions of the business combination agreement; (8) the outcome of any legal proceedings that may be instituted against the Company, XCF, Southern, EEME or their respective affiliates, which could be costly, time-consuming, divert management attention and adversely affect liquidity or financial condition; (9) uncertainty with respect to the scope, timing or completion of due diligence by any party and each party's satisfaction therewith; (10) uncertainty regarding valuations, capital structure, financing arrangements, equity ownership, or the allocation of economic interests contemplated by the business combination agreement, including the risk that, in the event the Proposed Transaction closes, the parties may never achieve their aim of creating a $3.0 billion combined enterprise (as of the date hereof this statement only represents an objective that the parties intend to achieve on a future date and such objective has not in the past and may never in the future be achieved); (11) changes to the structure, timing or terms of any Proposed Transaction that may be required or deemed appropriate as a result of applicable laws, regulations, accounting considerations, stock exchange requirements or regulatory guidance; (12) the risk that required regulatory, governmental, stock exchange or stockholder approvals are not obtained, are delayed or are subject to conditions that could adversely affect the parties or the expected benefits of any contemplated transaction; (13) the risk that the announcement of the business combination agreement or the pursuit of the contemplated transactions disrupts current plans, operations or relationships of the Company, XCF or Southern; (14) the risk that anticipated benefits of any contemplated transaction are not realized due to competition, execution challenges, market conditions, or the inability to grow and manage operations profitably; (15) costs, expenses and management distraction associated with the business combination agreement, negotiations, potential litigation and any contemplated transactions; (16) changes in applicable laws, regulations or enforcement priorities, including extensive regulation and compliance obligations applicable to the parties' businesses; and (17) other economic, business, competitive, operational or financial factors beyond management's control, including those described under "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in the Company's filings with the SEC, including the Company's Form 10-K for the fiscal year ended July 31, 2025, filed with the SEC on November 6, 2025, and subsequent reports filed with the SEC and Canadian securities regulatory authorities available on the Company's website at www.devvstream.com/investors/ and the Company's profile at www.sedarplus.ca. Although the BCA is binding on the parties, it does not obligate the parties to consummate the proposed transaction. The consummation of the proposed transaction remains subject to the satisfaction or waiver of applicable closing conditions, and the business combination agreement may be terminated in accordance with its terms. There can be no assurance that the proposed transaction will be consummated on the terms described herein or at all. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and are not guarantees of future performance or outcomes. Any forward-looking statements speak only as of the date of this press release. Neither DevvStream, XCF, Southern nor EEME undertakes any obligation to update any forward-looking statements, whether as a result of new information or developments, future events, or otherwise, except as required by law. Neither future distribution of this press release nor the continued availability of this press release in archive form on DevvStream's website at www.devvstream.com/investors/ or XCF's website at www.xcf.global/investor-relations should be deemed to constitute an update or re-affirmation of these statements as of any future date. View source version on businesswire.com: https://www.businesswire.com/news/home/20260529686989/en/ INVESTOR RELATIONS
DevvStream Corp.
ir@devvstream.com XCF Global, Inc.
media@xcf.global Southern Energy Renewables Inc.
info@southernenergyrenew.com Original: DevvStream, XCF Global, and Southern Energy Renewables Confirm Three-Party Business Combination Remains on Track
INV4
2週前
$0.31+ 😃
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DevvStream, XCF Global, and Southern Energy Renewables Confirm Three-Party Business Combination Remains on Track
May 29, 2026
Parties Clarify That the Business Combination Agreement Remains in Full Force and Effect; Form S-4 Registration Statement Expected to Be Filed in the Coming Weeks
DevvStream Corp. (NASDAQ: DEVS) ("DevvStream" or the "Company"), XCF Global, Inc. (NASDAQ: SAFX) ("XCF"), and Southern Energy Renewables Inc. ("Southern") (together, the "Parties") wish to clarify recent media coverage that mischaracterized a current report on Form 8-K filed by DevvStream with the U.S. Securities and Exchange Commission (the "SEC") on May 18, 2026 (the "8-K").
The 8-K reported, among other things, that DevvStream had received fairness opinions in connection with the proposed three-party business combination and that the original Agreement and Plan of Merger between DevvStream and Southern, dated December 3, 2025 (the "Prior Merger Agreement"), had automatically terminated. As disclosed in the 8-K, the Prior Merger Agreement survived the execution of the Business Combination Agreement (the "BCA"), entered into on April 13, 2026 by and among DevvStream, XCF, and Southern. However, the BCA expressly provided that, upon expiration of the Fairness Opinion Termination Rights set forth in the BCA -- which occurred upon receipt of the required fairness opinions by DevvStream and XCF-- the Prior Merger Agreement would automatically terminate without any liability or ongoing obligation to any party. The Parties have confirmed that this automatic termination has occurred in accordance with the terms of the BCA. The termination of the Prior Merger Agreement was a mechanical contractual step required under the BCA framework, not a decision by any party to withdraw from the proposed combination.
The BCA among DevvStream, XCF, and Southern remains in full force and effect. The Parties continue to work diligently toward completing the proposed combination and expect to file a registration statement on Form S-4 with the SEC in the coming weeks. The Form S-4 filing is a key step toward obtaining SEC effectiveness and the required shareholder approvals necessary to close the proposed combination.
ABOUT DEVVSTREAM CORP.
DevvStream Corp. (NASDAQ: DEVS) is a carbon management company focused on the development, investment, and sale of environmental assets, including carbon credits and renewable energy certificates.
ABOUT XCF GLOBAL, INC.
XCF Global, Inc. (NASDAQ: SAFX) is a U.S.-based producer of renewable diesel and sustainable aviation fuel ("SAF") focused on decarbonizing transportation while supporting domestic fuel supply and energy security. XCF’s flagship facility, New Rise Renewables Reno, has a permitted nameplate production capacity of 38 million gallons per year. XCF is working to advance a pipeline of potential expansion opportunities in Nevada, North Carolina, and Florida, and to build partnerships across the energy and transportation sectors to scale renewable fuels production. XCF is listed on the Nasdaq Capital Market and trades under the ticker, SAFX.
ABOUT SOUTHERN ENERGY RENEWABLES INC.
Southern Energy Renewables Inc. is a U.S.-based clean fuels, chemicals, technology, and products developer focused on advancing large-scale biomass-to-fuels projects, including sustainable aviation fuel and green methanol.
ADDITIONAL INFORMATION AND WHERE TO FIND IT
In connection with the proposed business combination transaction among XCF, DevvStream and Southern, XCF will prepare and file relevant materials with the Securities and Exchange Commission (the "SEC"), including a registration statement on Form S-4 that will contain preliminary proxy statements of DevvStream and XCF that also constitute a prospectus of XCF (the "Proxy Statements/Prospectus"). A definitive proxy statement is expected to be mailed to stockholders of DevvStream and XCF as of a record date to be established for voting on the proposed business combination transaction and other matters as described in the Proxy Statements/Prospectus. DevvStream, XCF and Southern may also file other documents with the SEC and Canadian securities regulatory authorities regarding the proposed transaction. This communication is not a substitute for any proxy statement, registration statement or prospectus, or any other document that DevvStream and Southern (as applicable) may file with the SEC or Canadian securities regulatory authorities in connection with the proposed transaction.
BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS OF DEVVSTREAM ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE PROXY STATEMENTS/PROSPECTUS WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED BY DEVVSTREAM OR SOUTHERN WITH THE SEC OR CANADIAN SECURITIES REGULATORY AUTHORITIES, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, IN CONNECTION WITH THE PROPOSED TRANSACTION, WHEN THEY BECOME AVAILABLE BECAUSE THESE DOCUMENTS CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS.
DevvStream's investors and security holders will be able to obtain free copies of the Proxy Statement/Prospectus (when they become available), as well as other filings containing important information about DevvStream, Southern, and other parties to the proposed transaction, without charge through the website maintained by the SEC at www.sec.gov. Copies of the documents filed with the SEC by (i) XCF will be available free of charge under the tab "Financials" on the "Investors" page of XCF's website at https://xcf.global/investor-relations/financials/sec-filings/ or by contacting XCF's Investor Relations Department at safx@xcf.global and (ii) DevvStream will be available free of charge under the tab "Financials" on the "Investor Relations" page of DevvStream's website at www.devvstream.com/investors/ or by contacting DevvStream's Investor Relations Department at ir@devvstream.com.
PARTICIPANTS IN THE SOLICITATION
DevvStream, Southern, XCF, EEME and their respective directors and certain of their respective executive officers and employees may be deemed to be participants in the solicitation of proxies from DevvStream's and XCF's stockholders in connection with the proposed transaction. Information regarding directors and executive officers of (i) XCF is contained in a Current Report on Form 8-K/A, filed with the SEC on October 31, 2025, its Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 31, 2026, and in other documents subsequently filed with the SEC and (ii) DevvStream is contained in DevvStream's proxy statement for its 2025 annual meeting of stockholders, filed with the SEC on November 18, 2025 and in other documents subsequently filed with the SEC. Additional information regarding the participants in the proxy solicitations and a description of their direct or indirect interests, by security holdings or otherwise, will be contained in the Proxy Statement/Prospectus and other relevant materials filed with the SEC (when they become available). These documents can be obtained free of charge from the sources indicated above.
NO OFFER OR SOLICITATION
This press release is for informational purposes only and is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any offer, solicitation or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
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$DEVS 💹
US Market News
4週前
DevvStream Highlights Southern Energy Renewables’ Hapag-Lloyd LOI for Green Methanol Project Development and Long-Term Offtake and New Environmental Attributes MOUMay 13, 2026 6:30 AM
Business Wire New MOU expands DevvStream’s role with Southern’s green methanol platform as proposed XCF-Southern-DevvStream combination advances DevvStream Corp. (Nasdaq: DEVS) today highlighted Southern Energy Renewables Inc.’s recently announced Letter of Intent with Hapag-Lloyd AG relating to the potential long-term offtake of green methanol from Southern’s planned Louisiana platform, as well as DevvStream’s new Memorandum of Understanding with Southern to advise on environmental attributes associated with Southern’s green methanol projects. DevvStream believes Southern’s Hapag-Lloyd announcement is an important market signal for green methanol and further supports the viability of Southern’s development platform. Green methanol is expected to play an important role in the decarbonization of hard-to-abate sectors, including maritime transportation, where customers are increasingly seeking scalable renewable fuel alternatives. Under DevvStream’s new MOU with Southern, DevvStream will upon finalization be appointed as Southern’s environmental asset advisor for environmental attributes arising from or associated with Southern’s green methanol projects and operations. DevvStream expects to advise Southern on the identification, structuring, commercialization, and monetization of potential environmental attributes, including credits, certificates, book-and-claim attributes, incentives, and other environmental value streams. DevvStream believes this agreement represents an important extension of its opportunity with Southern’s green methanol platform. By helping monetize environmental attributes associated with renewable fuels, DevvStream believes it can support project economics and help reduce the effective cost of adopting renewable and low-carbon fuels. “Southern’s announced LOI with Hapag-Lloyd is a strong validation point for green methanol and for Southern’s development strategy,” said Sunny Trinh, Chief Executive Officer of DevvStream. “At the same time, our new MOU with Southern gives DevvStream a direct role in helping identify and potentially monetizing the environmental attributes that can make renewable fuel projects more economic and more scalable.” Mr. Trinh continued, “These developments further support the strategic rationale for the previously announced proposed business combination among XCF Global, Southern Energy Renewables, and DevvStream. We believe the combination is designed to create a public platform across renewable fuels, infrastructure development, and environmental asset monetization.” The proposed business combination is intended to bring together XCF’s plans for a public-market platform and SAF business, Southern’s green methanol and clean fuels development platform, and DevvStream’s environmental asset monetization capabilities. Southern’s LOI with Hapag-Lloyd remains preliminary and subject to milestones, definitive documentation, project development requirements, and other conditions. The DevvStream-Southern MOU is subject to the negotiation of definitive agreements and includes non-binding provisions, except as expressly provided therein. The proposed business combination among XCF, Southern, and DevvStream remains subject to customary closing conditions, regulatory and shareholder approvals, and other requirements, and there can be no assurance that the transaction will be completed on the proposed terms or at all. About DevvStream DevvStream is a carbon management company focused on the development, investment, sale, and monetization of environmental assets and sustainability-related projects. Additional Information and Where to Find It In connection with the proposed business combination transaction among XCF, DevvStream and Southern, XCF will prepare and file relevant materials with the Securities and Exchange Commission (the “SEC”), including a registration statement on Form S-4 that will contain preliminary proxy statements of DevvStream and XCF that also constitutes a prospectus of XCF (the “Proxy Statements/Prospectus”). A definitive proxy statement is expected to be mailed to stockholders of DevvStream and XCF as of a record date to be established for voting on the proposed business combination transaction and other matters as described in the Proxy Statements/Prospectus. DevvStream, XCF and Southern may also file other documents with the SEC and Canadian securities regulatory authorities regarding the proposed transaction. This communication is not a substitute for any proxy statement, registration statement or prospectus, or any other document that DevvStream and Southern (as applicable) may file with the SEC or Canadian securities regulatory authorities in connection with the proposed transaction. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS OF DEVVSTREAM ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE PROXY STATEMENTS/PROSPECTUS WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED BY DEVVSTREAM OR SOUTHERN WITH THE SEC OR CANADIAN SECURITIES REGULATORY AUTHORITIES, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, IN CONNECTION WITH THE PROPOSED TRANSACTION, WHEN THEY BECOME AVAILABLE BECAUSE THESE DOCUMENTS CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. DevvStream’s investors and security holders will be able to obtain free copies of the Proxy Statement/Prospectus (when they become available), as well as other filings containing important information about DevvStream, Southern, and other parties to the proposed transaction, without charge through the website maintained by the SEC at www.sec.gov. Copies of the documents filed with the SEC by (i) XCF will be available free of charge under the tab “Financials” on the “Investors” page of the XCF’s website at https://xcf.global/investor-relations/financials/sec-filings/ or by contacting the XCF’s Investor Relations Department at safx@xcf.global and (ii) DevvStream will be available free of charge under the tab “Financials” on the “Investor Relations” page of DevvStream’s website at www.devvstream.com/investors/ or by contacting DevvStream’s Investor Relations Department at ir@devvstream.com. Participants in the Solicitation DevvStream, Southern, XCF, EEME and their respective directors and certain of their respective executive officers and employees may be deemed to be participants in the solicitation of proxies from DevvStream’s and XCF’s stockholders in connection with the proposed transaction. Information regarding directors and executive officers of (i) XCF is contained in a Current Report on Form 8-K/A, filed with the SEC on October 31, 2025, its Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 31, 2026, and in other documents subsequently filed with the SEC and (ii) DevvStream is contained in DevvStream’s proxy statement for its 2025 annual meeting of stockholders, filed with the SEC on November 18, 2025 and in other documents subsequently filed with the SEC. Additional information regarding the participants in the proxy solicitations and a description of their direct or indirect interests, by security holdings or otherwise, will be contained in the Proxy Statement/Prospectus and other relevant materials filed with the SEC (when they become available). These documents can be obtained free of charge from the sources indicated above. No Offer or Solicitation This press release is for informational purposes only and is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any offer, solicitation or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. Cautionary Note Regarding Forward-Looking Statements This press release contains “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve substantial risks and uncertainties, including statements regarding Southern Energy Renewables' proposed green methanol platform and related LOI with Hapag-Lloyd AG, DevvStream's anticipated role and activities under the MOU with Southern, the potential identification, structuring, commercialization, and monetization of environmental attributes associated with Southern's green methanol platform, the potential effect of environmental attribute monetization on renewable fuel project economics, future demand for green methanol and other low-carbon fuels the proposed transactions contemplated by the business combination agreement, the anticipated structure, timing and conditions of the proposed transaction, the anticipated completion of the plant conversion, the achievement of specified financial and operational milestones (including annualized blended fuel product revenues in excess of $1.0 billion and minimum annualized EBITDA of $100 million), and the anticipated issuance of state-supported bonds by Southern, and the valuation the parties are aiming to achieve. All statements, other than statements of historical facts, are forward-looking statements, including: statements regarding the expected timing, structure and terms of the proposed transaction; the ability of the parties to complete the proposed transaction considering the various closing conditions; the expected benefits of the proposed transaction; legal, economic, and regulatory conditions; and any assumptions underlying any of the foregoing. Forward-looking statements concern future circumstances and results and other statements that are not historical facts and are sometimes identified by the words “aim,” “may,” “will,” “should,” “potential,” “intend,” “expect,” “endeavor,” “seek,” “anticipate,” “estimate,” “overestimate,” “underestimate,” “believe,” “plan,” “could,” “would,” “project,” “predict,” “continue,” “target,” “objective,” “goal,” “designed,” or the negatives of these words or other similar terms or expressions that concern XCF’s, DevvStream’s, or Southern’s expectations, strategy, priorities, plans, or intentions. Forward-looking statements are based upon current plans, estimates, expectations, and assumptions that are subject to risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ materially from those expressed or implied by such forward-looking statements. We can give no assurance that such plans, estimates, or expectations will be achieved, and therefore, actual results may differ materially from any plans, estimates, or expectations in such forward-looking statements. Forward-looking statements are based on current expectations, estimates, assumptions and projections and involve known and unknown risks and uncertainties that may cause actual results, developments or outcomes to differ materially from those expressed or implied by such statements. Important factors that could cause actual results, developments or outcomes to differ materially include, among others: (1) changes in domestic and foreign business, market, financial, political, regulatory and legal conditions; (2) the risk that the plant conversion is delayed, not completed on the anticipated timeline, or requires additional capital beyond current expectations; (3) the risk that XCF is unable to achieve the specified annualized revenue and EBITDA thresholds, which depend in significant part on XCF’s business performance, operating results, market demand, execution capabilities, and other factors; (4) the risk that Southern does not receive authorization to issue up to $400 million of bonds, that such bonds are delayed, issued on less favorable terms, or not issued at all; (5) the risk that XCF is unable to obtain or maintain compliance with applicable Nasdaq continued listing standards, including regaining compliance with $1.00 minimum bid price requirement, which could result in delisting if compliance is not regained within applicable cure periods; (6) the inability to satisfy or waive the closing conditions contemplated by the business combination agreement; (7) the occurrence of events, changes or other circumstances that could give rise to the termination of the business combination agreement, or that could result in disputes or litigation relating to the interpretation, enforceability or performance of the business combination agreement; (8) the outcome of any legal proceedings that may be instituted against XCF, DEVS, Southern, EEME or their respective affiliates, which could be costly, time-consuming, divert management attention and adversely affect liquidity or financial condition; (9) uncertainty with respect to the scope, timing or completion of due diligence by any party and each party’s satisfaction therewith; (10) uncertainty regarding valuations, capital structure, financing arrangements, equity ownership, or the allocation of economic interests contemplated by the business combination agreement, including the risk that, in the event the proposed transaction closes, the parties may never achieve their aim of creating a $3.0 billion combined enterprise (as of the date hereof this statement only represents an objective that the parties intend to achieve on a future date and such objective has not in the past and may never in the future be achieved); (11) changes to the structure, timing or terms of any proposed transaction that may be required or deemed appropriate as a result of applicable laws, regulations, accounting considerations, stock exchange requirements or regulatory guidance; (12) the risk that required regulatory, governmental, stock exchange or shareholder approvals are not obtained, are delayed or are subject to conditions that could adversely affect the parties or the expected benefits of any contemplated transaction; (13) the risk that the announcement of the business combination agreement or the pursuit of the contemplated transactions disrupts current plans, operations or relationships of XCF, DEVS or Southern; (14) the risk that anticipated benefits of any contemplated transaction are not realized due to competition, execution challenges, market conditions, or the inability to grow and manage operations profitably; (15) costs, expenses and management distraction associated with the potential litigation and any contemplated transactions; (16) changes in applicable laws, regulations or enforcement priorities, including extensive regulation and compliance obligations applicable to the parties’ businesses; and (17) other economic, business, competitive, operational or financial factors beyond management’s control, including those set forth in (i) XCF's filings with the SEC, including the final proxy statement/prospectus relating to the Business Combination filed with the SEC on February 6, 2025, this Press Release and other filings XCF made or will make with the SEC in the future and (ii) DevvStream’s Form 10-K for the fiscal year ended July 31, 2025, filed with the SEC on November 6, 2025, and subsequent reports filed with SEC and Canadian securities regulatory authorities available on DevvStream’s profile at www.sedarplus.ca. Although the business combination agreement is binding on the parties, it does not obligate the parties to consummate the proposed transaction. The consummation of the proposed transaction remains subject to the satisfaction or waiver of applicable closing conditions, and the business combination agreement may be terminated in accordance with its terms. There can be no assurance that the proposed transaction will be consummated on the terms described herein or at all. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and are not guarantees of future performance or outcomes. Any forward-looking statements speak only as of the date of this press release. Neither DevvStream, XCF, Southern or EEME undertakes any obligation to update any forward-looking statements, whether as a result of new information or developments, future events, or otherwise, except as required by law. Neither future distribution of this press release nor the continued availability of this press release in archive form on DevvStream’s website at www.devvstream.com/investors/ or XCF’s website at www.xcf.global/investor-relations should be deemed to constitute an update or re-affirmation of these statements as of any future date. View source version on businesswire.com: https://www.businesswire.com/news/home/20260513346171/en/ Investor Relations Contact
DevvStream: ir@devvstream.com
XCF: media@xcf.global
Southern: info@southernenergyrenew.com Original: DevvStream Highlights Southern Energy Renewables’ Hapag-Lloyd LOI for Green Methanol Project Development and Long-Term Offtake and New Environmental Attributes MOU
US Market News
1月前
DevvStream Named Exclusive Partner to PLN Indonesia Power for Carbon Credit Management of Indonesian Solar Portfolio; Provides Corporate Financing UpdateMay 4, 2026 6:30 AM
Business Wire
DevvStream Corp. (Nasdaq: DEVS) (“DevvStream” or the “Company”), a carbon management and environmental-asset monetization firm, today announced a definitive, exclusive agreement with PT PLN Indonesia Power (“PLN Indonesia Power” or “PLN IP”), a sub-holding of Indonesia’s state-owned electricity company, PT PLN (Persero), giving DevvStream exclusive rights and title to carbon credits resulting from PLN IP’s solar plant operations. Under the agreement, DevvStream will manage the creation, validation, certification, registration, storage, security and liquidation of PLN IP’s carbon credits. Potential revenue generated from carbon credit sales will be shared between DevvStream and PLN IP.
Indonesia is Southeast Asia’s largest economy and the world’s fourth-most populous country, with more than 283 million people across more than 17,000 islands. Through PT PLN (Persero), Indonesia’s electricity system serves more than 96 million customers, positioning PLN among the world’s largest utilities by customer count.
The agreement is aligned with Indonesia’s accelerating clean-energy agenda. Indonesia has outlined a national initiative targeting up to 100 GW of new solar capacity, while PLN IP has publicly stated that it manages approximately 22.1 GW of generation capacity across Indonesia. For this initial agreement, DevvStream and PLN IP have identified a portfolio of 45 solar power plants throughout Indonesia.
“PLN Indonesia Power is one of the most significant electricity operators in one of the world’s most important energy markets, and this agreement positions DevvStream as its exclusive partner for environmental asset creation and monetization across the identified solar portfolio,” said Sunny Trinh, Chief Executive Officer of DevvStream. “We spent considerable time demonstrating our validation, certification, registry and lifecycle capabilities before this agreement was finalized, and we believe that process reflects exactly what DevvStream was built to do: help major energy partners convert verifiable environmental outcomes into high-integrity, monetizable assets.”
“This partnership expands DevvStream’s footprint as a premier environmental asset developer in Asia and highlights our core operating strategy,” added Scott Harrington, DevvStream’s Head of APAC. “With a revenue-sharing structure that requires no upfront infrastructure CAPEX from DevvStream, we believe this agreement creates a scalable pathway to monetize high-integrity environmental assets while supporting PLN IP’s long-term decarbonization objectives.”
“Although Indonesia has made meaningful progress toward nationwide electrification, efforts continue to ensure reliable electricity access reaches all parts of the archipelago—particularly in remote and developing regions. This gap represents both a social imperative and a long-term infrastructure opportunity. PLN Indonesia Power is advancing solar initiatives to support internal operations while expanding access to local renewable energy, strengthening energy security, and positioning the company for sustainable growth within Indonesia’s energy transition,” said Bernadus Sudarmanta, President Director of PT PLN Indonesia Power.
“PLN Indonesia Power takes a deliberate and prudent approach when engaging international partners for environmental asset monetization, particularly in Europe and North America. DevvStream’s disciplined lifecycle capabilities—from validation and certification through registry processes to secure asset management—have given us confidence in their ability to meet our standards. This agreement supports PLN’s broader decarbonization objectives by strengthening the pathway to monetize verifiable environmental outcomes across our generation portfolio.”
Corporate Financing Update
In parallel with the Indonesian announcement, DevvStream announced on April 27, 2026, pursuant to the Company’s Current Report on Form 8-K filed with the SEC on April 27, 2026, a $250,000 private placement with an institutional investor comprising 250,025 pre-funded warrants at a purchase price of $0.9999 per pre-funded warrant. The Company believes this financing further supports its capital position and provides additional flexibility to continue executing on strategic priorities. DevvStream previously stated that the financing is intended to support working capital and near-term execution as it advances toward its previously announced proposed business combination involving XCF Global, Inc. and Southern Energy Renewables Inc.
About DevvStream
DevvStream (Nasdaq: DEVS) is a carbon management company focused on the development, investment, and sale of environmental assets worldwide, including carbon credits and renewable energy certificates. Visit devvstream.com for more information.
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve substantial risks and uncertainties. All statements, other than historical facts, are forward-looking statements, including statements regarding: the anticipated benefits of the PLN IP agreement; the potential revenue generated from carbon credit sales under the agreement; the Company’s ability to create, validate, certify, register, store, and liquidate PLN IP’s carbon credits in the anticipated quantities and on the anticipated timelines; the potential use of host-country Letters of Authorization and alignment with Article 6 of the Paris Agreement; the Company’s expectations regarding the private placement, capital position, working capital, near-term execution, and strategic priorities; legal, economic, regulatory, and political conditions; and any assumptions underlying any of the foregoing. Forward-looking statements concern future circumstances and results and other statements that are not historical facts and are sometimes identified by the words “may,” “will,” “should,” “potential,” “intend,” “expect,” “endeavor,” “seek,” “anticipate,” “estimate,” “overestimate,” “underestimate,” “believe,” “plan,” “could,” “would,” “project,” “predict,” “continue,” “target,” “aim,” “objective,” “goal,” “designed,” or the negatives of these words or other similar terms or expressions that concern DevvStream’s expectations, strategy, priorities, plans, or intentions. Forward-looking statements are based upon current plans, estimates, and expectations that are subject to risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements.
We can give no assurance that such plans, estimates, or expectations will be achieved, and therefore actual results may differ materially from any plans, estimates, or expectations in such forward-looking statements. Important factors that could cause actual results to differ materially from such plans, estimates, or expectations include, among others: anticipated benefits of the PLN IP agreement; the Company’s ability to generate carbon credits from PLN IP’s solar portfolio in the quantities and on the timelines currently anticipated; the risk that validation, certification, registry, or liquidation processes under applicable program rules are delayed, denied, or result in fewer credits than anticipated; the risk that carbon credit prices decline materially from current levels; the availability and eligibility of host-country Letters of Authorization and alignment with applicable Article 6 of the Paris Agreement mechanisms, which remain subject to regulatory and governmental determination; the risk that the revenue-sharing structure does not produce the economic returns currently anticipated; the occurrence of any event that could give rise to termination of any of the documents related to the PLN IP agreement; the uncertainty of DevvStream’s capital requirements and cash runway, including receipt by DevvStream of any necessary financing; general economic, financial, legal, political, and business conditions and other risks and uncertainties including those set forth in DevvStream’s Form 10-K for the fiscal year ended July 31, 2025, filed with the SEC on November 6, 2025, and subsequent reports filed with the SEC and Canadian securities regulatory authorities available on DevvStream’s profile at www.sedarplus.ca.
While the list of factors presented here is considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. We caution you not to place undue reliance on any of these forward-looking statements as they are not guarantees of future performance or outcomes and that actual performance and outcomes, including, without limitation, our actual results of operations, financial condition and liquidity, and the development of new markets or market segments in which we operate, may differ materially from those made in or suggested by the forward-looking statements contained in this communication.
Any forward-looking statements speak only as of the date of this communication. DevvStream undertakes no obligation to update any forward-looking statements, whether as a result of new information or developments, future events, or otherwise, except as required by law. Neither future distribution of this communication nor the continued availability of this communication in archive form on DevvStream’s website at www.devvstream.com/investors/ should be deemed to constitute an update or re-affirmation of these statements as of any future date.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260504660887/en/
ir@devvstream.com
408.365.4348
Original: DevvStream Named Exclusive Partner to PLN Indonesia Power for Carbon Credit Management of Indonesian Solar Portfolio; Provides Corporate Financing Update
US Market News
2月前
XCF Global, Inc. Announces Receipt of $10 Million Plant Conversion Funding in Support of Pending Business CombinationApril 17, 2026 6:30 AM
ACCESS NewswireHOUSTON, TX / ACCESS Newswire / April 17, 2026 / XCF Global, Inc. (Nasdaq:SAFX) ("XCF"), an emerging player in decarbonizing the aviation industry through sustainable aviation fuel ("SAF"), together with DevvStream Corp. (Nasdaq:DEVS) ("DevvStream") and Southern Energy Renewables Inc. ("Southern"), today announced that, as contemplated by their previously announced term sheet relayed to their proposed three-party Business Combination Agreement ("BCA"), XCF has received from private investors $10 Million through the sale of 100,000,000 shares of Common Stock to support the planned plant conversion at XCF's New Rise Renewables Reno facility. The receipt of this funding satisfies a key funding-related condition to the proposed business combination among XCF, Southern, and DevvStream.The receipt of this funding represents an important milestone in advancing the transaction and is expected to support continued progress toward satisfying the closing conditions set forth in the previously announced Business Combination Agreement."This funding marks a meaningful step forward in the execution of our strategic transaction," said Chris Cooper, Chief Executive Officer of XCF Global. "It reinforces momentum behind the plant upgrade initiative and reflects continued alignment among the parties as we work diligently toward our goal of completing the business combination."As previously disclosed, consummation of the proposed transaction remains subject to the satisfaction or waiver of various closing conditions, including shareholder approvals. SEC registration statements effectiveness on Form S-4, stock exchange approvals including Nasdaq listing, completion of financing, plant conversion, and commercial milestones and fairness opinions.XCF Global, Southern, and DevvStream remain focused on advancing the remaining workstreams associated with the transaction and intend to provide updates as appropriate.About XCF Global, Inc.XCF Global, Inc. ("XCF") (Nasdaq:SAFX) is an emerging sustainable aviation fuel company dedicated to accelerating the aviation industry's transition to net-zero emissions. Our flagship facility, New Rise Reno, has a permitted nameplate production capacity of 38 million gallons per year, positioning XCF as an early mover among large-scale SAF producers in North America. XCF is working to advance a pipeline of potential expansion opportunities in Nevada, North Carolina, and Florida, and to build partnerships across the energy and transportation sectors to scale SAF globally. XCF is listed on the Nasdaq Capital Market and trades under the ticker, SAFX.To learn more, go to www.xcf.globalAbout DevvStreamDevvStream (Nasdaq: DEVS) is a carbon management company focused on the development, investment, and sale of environmental assets worldwide, including carbon credits and renewable energy certificates.About Southern Energy RenewablesSouthern Energy Renewables Inc. is a U.S.-based clean fuels, chemicals and products developer focused on advancing large-scale biomass-to-fuels projects. These projects are designed to produce carbon-negative SAF and green methanol, supported by integrated carbon capture and sequestration.Additional Information and Where to Find ItIn connection with the proposed business combination transaction among XCF, DevvStream and Southern, XCF will prepare and file relevant materials with the Securities and Exchange Commission (the "SEC"), including a registration statement on Form S-4 that will contain preliminary proxy statements of DevvStream and XCF that also constitutes a prospectus of XCF (the "Proxy Statements/Prospectus"). A definitive proxy statement is expected to be mailed to stockholders of DevvStream and XCF as of a record date to be established for voting on the proposed business combination transaction and other matters as described in the Proxy Statements/Prospectus. DevvStream, XCF and Southern may also file other documents with the SEC and Canadian securities regulatory authorities regarding the proposed transaction. This communication is not a substitute for any proxy statement, registration statement or prospectus, or any other document that DevvStream and Southern (as applicable) may file with the SEC or Canadian securities regulatory authorities in connection with the proposed transaction. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS OF DEVVSTREAM ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE PROXY STATEMENTS/PROSPECTUS WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED BY DEVVSTREAM OR SOUTHERN WITH THE SEC OR CANADIAN SECURITIES REGULATORY AUTHORITIES, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, IN CONNECTION WITH THE PROPOSED TRANSACTION, WHEN THEY BECOME AVAILABLE BECAUSE THESE DOCUMENTS CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. DevvStream's investors and security holders will be able to obtain free copies of the Proxy Statement/Prospectus (when they become available), as well as other filings containing important information about DevvStream, Southern, and other parties to the proposed transaction, without charge through the website maintained by the SEC at www.sec.gov. Copies of the documents filed with the SEC by (i) XCF will be available free of charge under the tab "Financials" on the "Investors" page of the XCF's website at https://xcf.global/investor-relations/financials/sec-filings/ or by contacting the XCF's Investor Relations Department at safx@xcf.global and (ii) DevvStream will be available free of charge under the tab "Financials" on the "Investor Relations" page of DevvStream's website at www.devvstream.com/investors/ or by contacting DevvStream's Investor Relations Department at ir@devvstream.com .Participants in the SolicitationDevvStream, Southern, XCF, EEME and their respective directors and certain of their respective executive officers and employees may be deemed to be participants in the solicitation of proxies from DevvStream's and XCF's stockholders in connection with the proposed transaction. Information regarding directors and executive officers of (i) XCF is contained in a Current Report on Form 8-K/A, filed with the SEC on October 31, 2025, its Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 31, 2026, and in other documents subsequently filed with the SEC and (ii) DevvStream is contained in DevvStream's proxy statement for its 2025 annual meeting of stockholders, filed with the SEC on November 18, 2025 and in other documents subsequently filed with the SEC. Additional information regarding the participants in the proxy solicitations and a description of their direct or indirect interests, by security holdings or otherwise, will be contained in the Proxy Statement/Prospectus and other relevant materials filed with the SEC (when they become available). These documents can be obtained free of charge from the sources indicated above.No Offer or SolicitationThis press release is for informational purposes only and is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any offer, solicitation or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.Cautionary Note Regarding Forward-Looking StatementsThis press release contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve substantial risks and uncertainties, including statements regarding the proposed transactions contemplated by the business combination agreement, the anticipated structure, timing and conditions of the proposed transaction, the anticipated completion of the plant conversion, the achievement of specified financial and operational milestones (including annualized blended fuel product revenues in excess of $1.0 billion and minimum annualized EBITDA of $100 million), the anticipated issuance of state-supported bonds by Southern, the valuation the parties are aiming to achieve. All statements, other than statements of historical facts, are forward-looking statements, including: statements regarding the expected timing, structure and terms of the proposed transaction; the ability of the parties to complete the proposed transaction considering the various closing conditions; the expected benefits of the proposed transaction; legal, economic, and regulatory conditions; and any assumptions underlying any of the foregoing. Forward-looking statements concern future circumstances and results and other statements that are not historical facts and are sometimes identified by the words "aim," "may," "will," "should," "potential," "intend," "expect," "endeavor," "seek," "anticipate," "estimate," "overestimate," "underestimate," "believe," "plan," "could," "would," "project," "predict," "continue," "target," "objective," "goal," "designed," or the negatives of these words or other similar terms or expressions that concern XCF's, DevvStream's, or Southern's expectations, strategy, priorities, plans, or intentions. Forward-looking statements are based upon current plans, estimates, expectations, and assumptions that are subject to risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ materially from those expressed or implied by such forward-looking statements.We can give no assurance that such plans, estimates, or expectations will be achieved, and therefore, actual results may differ materially from any plans, estimates, or expectations in such forward-looking statements.Forward-looking statements are based on current expectations, estimates, assumptions and projections and involve known and unknown risks and uncertainties that may cause actual results, developments or outcomes to differ materially from those expressed or implied by such statements. Important factors that could cause actual results, developments or outcomes to differ materially include, among others: (1) changes in domestic and foreign business, market, financial, political, regulatory and legal conditions; (2) the risk that the plant conversion is delayed, not completed on the anticipated timeline, or requires additional capital beyond current expectations; (3) the risk that XCF is unable to achieve the specified annualized revenue and EBITDA thresholds, which depend in significant part on XCF's business performance, operating results, market demand, execution capabilities, and other factors; (4) the risk that Southern does not receive authorization to issue up to $400 million of bonds, that such bonds are delayed, issued on less favorable terms, or not issued at all; (5) the risk that XCF is unable to obtain or maintain compliance with applicable Nasdaq continued listing standards, including regaining compliance with $1.00 minimum bid price requirement, which could result in delisting if compliance is not regained within applicable cure periods; (6) the inability to satisfy or waive the closing conditions contemplated by the business combination agreement; (7) the occurrence of events, changes or other circumstances that could give rise to the termination of the business combination agreement, or that could result in disputes or litigation relating to the interpretation, enforceability or performance of the business combination agreement; (8) the outcome of any legal proceedings that may be instituted against XCF, DEVS, Southern, EEME or their respective affiliates, which could be costly, time-consuming, divert management attention and adversely affect liquidity or financial condition; (9) uncertainty with respect to the scope, timing or completion of due diligence by any party and each party's satisfaction therewith; (10) uncertainty regarding valuations, capital structure, financing arrangements, equity ownership, or the allocation of economic interests contemplated by the business combination agreement, including the risk that, in the event the proposed transaction closes, the parties may never achieve their aim of creating a $3.0 billion combined enterprise (as of the date hereof this statement only represents an objective that the parties intend to achieve on a future date and such objective has not in the past and may never in the future be achieved); (11) changes to the structure, timing or terms of any proposed transaction that may be required or deemed appropriate as a result of applicable laws, regulations, accounting considerations, stock exchange requirements or regulatory guidance; (12) the risk that required regulatory, governmental, stock exchange or shareholder approvals are not obtained, are delayed or are subject to conditions that could adversely affect the parties or the expected benefits of any contemplated transaction; (13) the risk that the announcement of the business combination agreement or the pursuit of the contemplated transactions disrupts current plans, operations or relationships of XCF, DEVS or Southern; (14) the risk that anticipated benefits of any contemplated transaction are not realized due to competition, execution challenges, market conditions, or the inability to grow and manage operations profitably; (15) costs, expenses and management distraction associated with the potential litigation and any contemplated transactions; (16) changes in applicable laws, regulations or enforcement priorities, including extensive regulation and compliance obligations applicable to the parties' businesses; and (17) other economic, business, competitive, operational or financial factors beyond management's control, including those set forth in (i) XCF's filings with the SEC, including the final proxy statement/prospectus relating to the Business Combination filed with the SEC on February 6, 2025, this Press Release and other filings XCF made or will make with the SEC in the future and (ii) DevvStream's Form 10-K for the fiscal year ended July 31, 2025, filed with the SEC on November 6, 2025, and subsequent reports filed with SEC and Canadian securities regulatory authorities available on DevvStream's profile at www.sedarplus.ca.Although the business combination agreement is binding on the parties, it does not obligate the parties to consummate the proposed transaction. The consummation of the proposed transaction remains subject to the satisfaction or waiver of applicable closing conditions, and the business combination agreement may be terminated in accordance with its terms. There can be no assurance that the proposed transaction will be consummated on the terms described herein or at all. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and are not guarantees of future performance or outcomes.Any forward-looking statements speak only as of the date of this press release. Neither DevvStream, XCF, Southern or EEME undertakes any obligation to update any forward-looking statements, whether as a result of new information or developments, future events, or otherwise, except as required by law. Neither future distribution of this press release nor the continued availability of this press release in archive form on DevvStream's website at www.devvstream.com/investors/ or XCF's website at www.xcf.global should be deemed to constitute an update or re-affirmation of these statements as of any future date.Investor Relations ContactDevvStream: ir@devvstream.com
XCF: safx@xcf.global
Southern: info@southernenergyrenew.comSOURCE: XCF Global, Inc.View the original press release on ACCESS NewswireOriginal: XCF Global, Inc. Announces Receipt of $10 Million Plant Conversion Funding in Support of Pending Business Combination
US Market News
2月前
XCF Global, Southern Energy Renewables und DevvStream unterzeichnen endgültige Vereinbarung über den Unternehmenszusammenschluss im Rahmen der zuvor angekündigten geplanten Dreierfusion zur Schaffung einer Energieplattform der nächsten GenerationApril 15, 2026 8:06 PM
Business Wire
Schaffung einer Plattform für die Energiewende der nächsten Generation: Die geplante Transaktion vereint SAF, grünes Methanol, erneuerbare Produkte, die Monetarisierung von Umweltattributen und fortschrittliche Energieinfrastruktur in einer einzigen, global skalierbaren Plattform.
Integrierte Märkte für Kraftstoffe, Infrastruktur und Umwelt: Das fusionierte Unternehmen soll die Produktion kohlenstoffarmer Kraftstoffe mit Emissionszertifikaten und verwandten Instrumenten, der Vermarktung langfristiger Abnahmeverträge sowie der Infrastrukturentwicklung verknüpfen.
Unterstützung der Dekarbonisierungsstrategien der Kunden: Durch die Kombination skalierbarer kohlenstoffarmer Kraftstoffe mit der Monetarisierung von Umweltattributen hilft die Plattform Fluggesellschaften und Unternehmenskunden, regulatorische und Nachhaltigkeitsanforderungen flexibler zu erfüllen.
XCF Global, Inc. (Nasdaq: SAFX) („XCF“), ein wichtiger Akteur bei der Dekarbonisierung der Luftfahrtindustrie durch nachhaltigen Flugkraftstoff („SAF“), und DevvStream Corp. (NASDAQ: DEVS) („DevvStream“), ein führendes Unternehmen für Kohlenstoffmanagement und die Monetarisierung von Umweltvermögenswerten, gaben heute den Abschluss einer endgültigen Vereinbarung über einen Unternehmenszusammenschluss mit Southern Energy Renewables Inc. („Southern“) bekannt gegeben, ein wichtiger nächster Meilenstein in der zuvor angekündigten Initiative der drei Parteien zur Schaffung einer gemeinsamen Plattform für die Energiewende. Diese Plattform soll nachhaltige Flugkraftstoffe („SAF“), grünes Methanol, erneuerbare Produkte und eine kohlenstoffarme Energieinfrastruktur der nächsten Generation entwickeln und skalieren und gleichzeitig die Monetarisierung von Umweltattributen entlang der gesamten Wertschöpfungskette integrieren. Diese Plattform wird in der Lage sein, ohne Subventionen mit China und der Welt bei der Bereitstellung von Kraftstoffen und anderen Produkten zu konkurrieren. Die Transaktion unterliegt weiterhin den üblichen Abschlussbedingungen sowie den sonstigen Bedingungen, Abschlussbedingungen und Kündigungsgründen (einschließlich des Ausbleibens der rechtzeitigen Vorlage der entsprechenden Fairness Opinions), die in der Vereinbarung über den Unternehmenszusammenschluss festgelegt sind.
Das fusionierte Unternehmen wird mit dem Ziel gegründet, eine multi-asset-fähige, global skalierbare Plattform für alternative Energien aufzubauen. Die Plattform soll kohlenstoffarme Kraftstoffe, darunter SAF, Methanol, erneuerbare Produkte und Methanol-zu-Flugkraftstoff-Verfahren, integrieren; die Monetarisierung von Umweltattributen, einschließlich Emissionszertifikaten und damit verbundenen Instrumenten; fortschrittliche Energiesysteme, darunter kleine modulare Kernreaktoren („SMRs“) zur Stromversorgung der Kraftstoffproduktion und von KI-Rechenzentren; sowie die Infrastrukturentwicklung zusammen mit der langfristigen Vermarktung von Abnahmemengen.
Die Parteien sind der Ansicht, dass die Plattform das Potenzial hat, eine beträchtliche Größe zu erreichen, und über erhebliches langfristiges Wachstumspotenzial in den Bereichen Kraftstoffproduktion, Infrastruktur und Umweltmärkte verfügt.
Transaktionsstruktur
Die Transaktion wird durch eine Reihe von Fusionen und Umstrukturierungsschritten durchgeführt. DevvStream wird vor Abschluss der Transaktion seinen Sitz von Alberta nach Delaware verlegen. XCF wird 100 % von DevvStream und Southern über Fusions-Tochtergesellschaften erwerben, und DevvStream sowie Southern werden jeweils als hundertprozentige Tochtergesellschaften von XCF fortbestehen. Die bestehenden Aktionäre von DevvStream und Southern erhalten Stammaktien von XCF.
Nach dem Abschluss der Transaktion wird erwartet, dass die Eigentumsanteile an dem fusionierten Unternehmen zu etwa 66,7 % bei den bestehenden XCF-Aktionären, zu 23,3 % bei den Southern-Aktionären und zu 10,0 % bei den DevvStream-Aktionären liegen.
Kapitalbeschaffung und Infrastrukturinvestitionen
Im Rahmen der Transaktion hat XCF rund 10 Millionen US-Dollar in den Ausbau und die Umrüstung seiner Anlage in New Rise Reno investiert, um die Produktions- und Beimischkapazitäten für SAF zu unterstützen. Die Plattform ist auf die großtechnische Kraftstoffproduktion und -vermarktung ausgelegt, einschließlich langfristiger Abnahmevereinbarungen. Southern wird voraussichtlich zudem eine Anleihefinanzierung in Höhe von bis zu 400 Millionen US-Dollar anstreben, um den Ausbau der Infrastruktur zu unterstützen.
Das fusionierte Unternehmen strebt zudem wichtige operative Meilensteine an (und die Transaktion ist an deren Erreichung geknüpft), darunter annualisierte Kraftstoffumsätze von über 1 Milliarde US-Dollar sowie ein annualisiertes EBITDA von mindestens 100 Millionen US-Dollar.
Strategische Begründung
Der Zusammenschluss vereint komplementäre Kompetenzen entlang der gesamten Energie- und Nachhaltigkeitswertschöpfungskette. DevvStream bringt Kompetenzen in den Bereichen Entwicklung von Umweltanlagen, Generierung von Emissionszertifikaten und deren Monetarisierung ein. Southern steuert Produktdiversifizierung, Technologieentwicklung und saubere Endprodukte bei, die mit traditionellen Endprodukten konkurrieren. XCF steuert den Zugang zu den Kapitalmärkten auf Plattformebene sowie eine Investitionsstrategie für alternative Energien bei. Für Kunden soll diese integrierte Plattform den Zugang zu kohlenstoffärmeren, nicht auf fossilen Brennstoffen basierenden Lösungen erweitern und gleichzeitig mehr Flexibilität bei der Erreichung und Verifizierung von Emissionsminderungen bieten, wodurch Fluggesellschaften und Unternehmenskunden dabei unterstützt werden, regulatorische, Compliance- und Dekarbonisierungsziele in verschiedenen Märkten und über unterschiedliche Rohstoffpfade hinweg zu erreichen.
Gemeinsam sind die Parteien davon überzeugt, dass das fusionierte Unternehmen in der Lage sein wird, den Ausbau der Infrastruktur für erneuerbare und dezentrale Energie zu beschleunigen, die Erzeugung und Monetarisierung von Umweltanlagen zu skalieren und integrierte, finanzierbare Nachhaltigkeitslösungen für globale Märkte bereitzustellen.
Kommentar der Unternehmensleitung
Chris Cooper, Chief Executive Officer von XCF Global, fügte hinzu: „Unser Ziel ist es, eine der umfassendsten Plattformen für alternative Energien auf dem Markt aufzubauen, die Produktion, Stromversorgung und Monetarisierung vereint. Diese Transaktion beschleunigt diese Vision. Für Fluggesellschaften und Unternehmenskunden bedeutet dies einen besseren Zugang zu skalierbaren SAF-Lösungen, gepaart mit hochintegrierten Umweltattributen, die die Einhaltung von Vorschriften, die Berichterstattung und langfristige Dekarbonisierungsziele in verschiedenen Märkten unterstützen.“
Sunny Trinh, Chief Executive Officer von DevvStream, kommentierte: „Diese Transaktion schafft eine Plattform mit der Größe, Integration und dem Ehrgeiz, im globalen Wettbewerb der Energiewende zu bestehen. Wir führen Infrastruktur-, Kraftstoff- und Umweltmärkte in einem einzigen, skalierbaren Geschäftsmodell zusammen.“
Jay Patel, Chief Executive Officer von Southern Energy Renewables, kommentierte: „Die Fähigkeit von Southern, Technologien und Projekte der nächsten Generation bereitzustellen, um saubere Produkte ohne staatliche Subventionen anzubieten, ist ein echter Game-Changer. Gemeinsam planen wir, Energieunabhängigkeit zu schaffen und die heimische Lieferkette mit einem diversifizierten Produktportfolio zu unterstützen. Das Tolle an dieser Plattform ist, dass wir in der Lage sein werden, mit China und dem Rest der Welt zu konkurrieren; viel zu lange konnte China die weltweit verwendeten Referenzprodukte festlegen.“
Genehmigungen und Abschlussbedingungen
Die Transaktion unterliegt der Zustimmung der Aktionäre, dem Inkrafttreten der SEC-Registrierungserklärung auf Formular S-4, den Genehmigungen der Börsen einschließlich der Notierung an der Nasdaq, dem Abschluss der Finanzierung, der Umstellung der Anlagen sowie kommerziellen Meilensteinen und Fairness Opinions.
Über XCF Global, Inc.
CF Global, Inc. („XCF“) (Nasdaq: SAFX) ist ein aufstrebendes Unternehmen im Bereich nachhaltiger Flugkraftstoffe, das sich der Beschleunigung des Übergangs der Luftfahrtindustrie zu Netto-Null-Emissionen verschrieben hat. Unsere Flaggschiff-Anlage, New Rise Reno, verfügt über eine genehmigte Nennproduktionskapazität von 38 Millionen Gallonen pro Jahr, was XCF zu einem Vorreiter unter den großen SAF-Produzenten in Nordamerika macht. XCF arbeitet daran, eine Reihe potenzieller Expansionsmöglichkeiten in Nevada, North Carolina und Florida voranzutreiben und Partnerschaften im Energie- und Transportsektor aufzubauen, um SAF weltweit zu skalieren. XCF ist am Nasdaq Capital Market notiert und wird unter dem Tickersymbol SAFX gehandelt.
Weitere Informationen finden Sie unter XCF.Global
Über DevvStream
DevvStream (Nasdaq: DEVS) ist ein Unternehmen für Kohlenstoffmanagement, das sich auf die Entwicklung, Investition und den Verkauf von Umwelt-Assets weltweit konzentriert, darunter Emissionszertifikate und Zertifikate für erneuerbare Energien.
Über Southern Energy Renewables
Southern Energy Renewables Inc. ist ein in den USA ansässiger Entwickler von sauberen Kraftstoffen, Chemikalien und Produkten, der sich auf die Förderung groß angelegter Projekte zur Umwandlung von Biomasse in Kraftstoffe konzentriert. Diese Projekte sind darauf ausgelegt, CO2-negative SAF und grünes Methanol zu produzieren, unterstützt durch integrierte CO2-Abscheidung und -Sequestrierung.
Weitere Informationen und Bezugsquellen
Im Zusammenhang mit der geplanten Unternehmenszusammenschluss-Transaktion zwischen XCF, DevvStream und Southern wird XCF relevante Unterlagen erstellen und bei der Securities and Exchange Commission (der „SEC“) einreichen, einschließlich einer Registrierungserklärung auf Formular S-4, die vorläufige Vollmachtserklärungen von DevvStream und XCF enthalten wird, die zugleich einen Prospekt von XCF darstellen (die „Vollmachtserklärungen/Prospekt“). Eine endgültige Vollmachtserklärung wird voraussichtlich an die Aktionäre von DevvStream und XCF zum Stichtag versandt, der für die Abstimmung über die geplante Unternehmensfusion und andere in den Vollmachtserklärungen/dem Prospekt beschriebene Angelegenheiten festgelegt wird. DevvStream, XCF und Southern können im Zusammenhang mit der geplanten Transaktion auch weitere Dokumente bei der SEC und den kanadischen Wertpapieraufsichtsbehörden einreichen. Diese Mitteilung ersetzt weder eine Vollmachtserklärung, eine Registrierungserklärung oder einen Prospekt noch irgendein anderes Dokument, das DevvStream und Southern (soweit zutreffend) im Zusammenhang mit der geplanten Transaktion bei der SEC oder den kanadischen Wertpapieraufsichtsbehörden einreichen könnten. VOR EINER ABSTIMMUNGS- ODER ANLAGEENTSCHEIDUNG WERDEN ANLEGER UND WERTPAPIERINHABER VON DEVVSTREAM DRINGEND GEBETEN, DIE VOLLMACHTSERKLÄRUNGEN/ PROSPEKTE, SOBALD DIESE VERFÜGBAR SIND, SOWIE ALLE ANDEREN RELEVANTEN DOKUMENTE, DIE VON DEVVSTREAM ODER SOUTHERN BEI DER SEC ODER DEN KANADISCHEN WERTPAPIERAUFSICHTSBEHÖRDEN EINGEREICHT WURDEN ODER EINGEREICHT WERDEN, SOWIE ALLE ÄNDERUNGEN ODER ERGÄNZUNGEN ZU DIESEN DOKUMENTEN IM ZUSAMMENHANG MIT DER GEPLANTEN TRANSAKTION, SOBALD SIE VERFÜGBAR SIND, DA DIESE DOKUMENTE WICHTIGE INFORMATIONEN ÜBER DIE GEPLANTE TRANSAKTION UND DAMIT ZUSAMMENHÄNGENDE ANGELEGENHEITEN ENTHALTEN ODER ENTHALTEN WERDEN. Die Anleger und Wertpapierinhaber von DevvStream können kostenlose Exemplare der Vollmachtserklärung/des Prospekts (sobald diese verfügbar sind) sowie anderer Unterlagen, die wichtige Informationen über DevvStream, Southern und andere an der geplanten Transaktion beteiligte Parteien enthalten, kostenlos über die von der SEC unterhaltene Website unter www.sec.gov beziehen. Kopien der bei der SEC eingereichten Dokumente von (i) XCF sind kostenlos unter der Registerkarte „Financials“ auf der Seite „Investors“ der XCF-Website unter https://xcf.global/investor-relations/financials/sec-filings/ oder durch Kontaktaufnahme mit der Investor-Relations-Abteilung von XCF unter safx@xcf.global erhältlich und (ii) von DevvStream kostenlos unter der Rubrik „Financials“ auf der Seite „Investor Relations“ der Website von DevvStream unter www.devvstream.com/investors/ oder durch Kontaktaufnahme mit der Investor-Relations-Abteilung von DevvStream unter ir@devvstream.com.
Teilnehmer an der Aufforderung
DevvStream, Southern, XCF, EEME sowie deren jeweilige Vorstandsmitglieder und bestimmte leitende Angestellte und Mitarbeiter können als Teilnehmer an der Aufforderung zur Stimmrechtsübertragung an die Aktionäre von DevvStream und XCF im Zusammenhang mit der geplanten Transaktion angesehen werden. Informationen zu den Direktoren und Führungskräften von (i) XCF sind in einem aktuellen Bericht auf Formular 8-K/A enthalten, der am 31. Oktober 2025 bei der SEC eingereicht wurde, sowie in seinem Jahresbericht auf Formular 10-K für das am 31. Dezember 2025 endende Geschäftsjahr, der am 31. März 2026 bei der SEC eingereicht wurde, und in anderen Dokumenten, die anschließend bei der SEC eingereicht wurden, sowie (ii) DevvStream sind in der Vollmachtserklärung von DevvStream für die Jahreshauptversammlung 2025 enthalten, die am 18. November 2025 bei der SEC eingereicht wurde, sowie in anderen Dokumenten, die anschließend bei der SEC eingereicht wurden. Weitere Informationen zu den Teilnehmern an den Stimmrechtswerbungen sowie eine Beschreibung ihrer direkten oder indirekten Interessen, sei es durch Wertpapierbestände oder anderweitig, werden in der Vollmachtserklärung/dem Prospekt und anderen relevanten Unterlagen enthalten sein, die bei der SEC eingereicht werden (sobald diese verfügbar sind). Diese Dokumente können kostenlos bei den oben genannten Quellen angefordert werden.
Kein Angebot oder Aufforderung
Diese Pressemitteilung dient ausschließlich Informationszwecken und stellt weder ein Angebot zum Verkauf noch eine Aufforderung zur Abgabe eines Angebots zum Kauf von Wertpapieren oder eine Aufforderung zur Stimmabgabe oder Zustimmung dar; es erfolgt auch kein Angebot, keine Aufforderung und kein Verkauf von Wertpapieren in einer Rechtsordnung, in der ein solches Angebot, eine solche Aufforderung oder ein solcher Verkauf vor der Registrierung oder Zulassung gemäß den Wertpapiergesetzen dieser Rechtsordnung unzulässig wäre. Ein Angebot von Wertpapieren darf nur mittels eines Prospekts erfolgen, der den Anforderungen von Abschnitt 10 des Securities Act von 1933 in seiner geänderten Fassung entspricht.
Warnhinweis zu zukunftsgerichteten Aussagen
Diese Pressemitteilung enthält „zukunftsgerichtete“ Aussagen im Sinne von Abschnitt 27A des Securities Act von 1933 in seiner geänderten Fassung und Abschnitt 21E des Securities Exchange Act von 1934 in seiner geänderten Fassung, die mit erheblichen Risiken und Ungewissheiten verbunden sind, einschließlich Aussagen zu den im Unternehmenszusammenschlussvertrag vorgesehenen Transaktionen, der erwarteten Struktur, dem Zeitplan und den Bedingungen der geplanten Transaktion, dem erwarteten Abschluss der Anlagenumstellung, das Erreichen bestimmter finanzieller und operativer Meilensteine (einschließlich annualisierter Umsätze mit gemischten Brennstoffprodukten von über 1,0 Mrd. USD und eines minimalen annualisierten EBITDA von 100 Mio. USD), die erwartete Emission staatlich unterstützter Anleihen durch Southern sowie die Bewertung, die die Parteien anstreben. Alle Aussagen, mit Ausnahme von Aussagen über historische Fakten, sind zukunftsgerichtete Aussagen, einschließlich: Aussagen bezüglich des erwarteten Zeitplans, der Struktur und der Bedingungen der geplanten Transaktion; der Fähigkeit der Parteien, die geplante Transaktion unter Berücksichtigung der verschiedenen Abschlussbedingungen abzuschließen; der erwarteten Vorteile der geplanten Transaktion; rechtlicher, wirtschaftlicher und regulatorischer Bedingungen; sowie aller Annahmen, die den vorgenannten Punkten zugrunde liegen. Zukunftsgerichtete Aussagen beziehen sich auf zukünftige Umstände und Ergebnisse sowie auf andere Aussagen, die keine historischen Tatsachen darstellen, und sind manchmal durch Wörter wie „anstreben“, „könnte“, „wird“, „sollte“, „potenziell“, „beabsichtigen“, „erwarten“, „sich bemühen“, „anstreben“, „voraussehen“, „schätzen“, „überschätzen“, „unterschätzen“, „glauben“, „planen“, „könnte“, „würde“, „prognostizieren“, „vorhersagen“, „fortsetzen“, „Ziel“, „Zielsetzung“, „Ziel“, „konzipiert“ oder den Verneinungen dieser Wörter oder anderen ähnlichen Begriffen oder Ausdrücken gekennzeichnet, die sich auf die Erwartungen, Strategien, Prioritäten, Pläne oder Absichten von XCF, DevvStream oder Southern beziehen. Zukunftsgerichtete Aussagen basieren auf aktuellen Plänen, Schätzungen, Erwartungen und Annahmen, die Risiken, Ungewissheiten und Annahmen unterliegen. Sollten eines oder mehrere dieser Risiken oder Ungewissheiten eintreten oder sollten sich die zugrunde liegenden Annahmen als unrichtig erweisen, können die tatsächlichen Ergebnisse erheblich von den in solchen zukunftsgerichteten Aussagen ausgedrückten oder implizierten Ergebnissen abweichen.
Wir können keine Gewähr dafür geben, dass solche Pläne, Schätzungen oder Erwartungen erreicht werden, und daher können die tatsächlichen Ergebnisse erheblich von den in solchen zukunftsgerichteten Aussagen enthaltenen Plänen, Schätzungen oder Erwartungen abweichen.
Zukunftsgerichtete Aussagen basieren auf aktuellen Erwartungen, Schätzungen, Annahmen und Prognosen und beinhalten bekannte und unbekannte Risiken und Unsicherheiten, die dazu führen können, dass die tatsächlichen Ergebnisse, Entwicklungen oder Ergebnisse wesentlich von den in solchen Aussagen ausgedrückten oder implizierten abweichen. Wichtige Faktoren, die dazu führen könnten, dass die tatsächlichen Ergebnisse, Entwicklungen oder Ergebnisse wesentlich abweichen, umfassen unter anderem: (1) Veränderungen der inländischen und ausländischen Geschäfts-, Markt-, Finanz-, politischen, regulatorischen und rechtlichen Rahmenbedingungen; (2) das Risiko, dass sich die Umstellung der Anlage verzögert, nicht innerhalb des vorgesehenen Zeitrahmens abgeschlossen wird oder zusätzliches Kapital über die derzeitigen Erwartungen hinaus erfordert; (3) das Risiko, dass XCF nicht in der Lage ist, die festgelegten annualisierten Umsatz- und EBITDA-Schwellenwerte zu erreichen, die in erheblichem Maße von der Geschäftsentwicklung, den Betriebsergebnissen, der Marktnachfrage, den Umsetzungsfähigkeiten und anderen Faktoren von XCF abhängen; (4) das Risiko, dass Southern keine Genehmigung zur Ausgabe von Anleihen im Wert von bis zu 400 Millionen US-Dollar erhält, dass sich die Ausgabe dieser Anleihen verzögert, zu ungünstigeren Konditionen erfolgt oder gar nicht stattfindet; (5) das Risiko, dass XCF die geltenden Standards der Nasdaq für die fortgesetzte Notierung nicht erfüllen oder aufrechterhalten kann, einschließlich der Wiedererlangung der Einhaltung der Mindestgebotspreis-Anforderung von 1,00 US-Dollar, was zu einer Dekotierung führen könnte, wenn die Einhaltung nicht innerhalb der geltenden Nachbesserungsfristen wiederhergestellt wird; (6) die Unfähigkeit, die in der Vereinbarung über den Unternehmenszusammenschluss vorgesehenen Abschlussbedingungen zu erfüllen oder darauf zu verzichten; (7) das Eintreten von Ereignissen, Änderungen oder anderen Umständen, die zur Kündigung der Vereinbarung über den Unternehmenszusammenschluss führen könnten oder die zu Streitigkeiten oder Rechtsstreitigkeiten hinsichtlich der Auslegung, Durchsetzbarkeit oder Erfüllung der Vereinbarung über den Unternehmenszusammenschluss führen könnten; (8) der Ausgang etwaiger Gerichtsverfahren, die gegen XCF, DEVS, Southern, EEME oder deren jeweilige verbundene Unternehmen eingeleitet werden könnten, was kostspielig und zeitaufwendig sein, die Aufmerksamkeit des Managements ablenken und die Liquidität oder die Finanzlage beeinträchtigen könnte; (9) Unsicherheiten hinsichtlich des Umfangs, des Zeitpunkts oder des Abschlusses der Due-Diligence-Prüfung durch eine der Parteien und der Zufriedenheit jeder Partei damit; (10) Unsicherheiten hinsichtlich der Bewertungen, der Kapitalstruktur, der Finanzierungsvereinbarungen, der Beteiligungsverhältnisse oder der Aufteilung der wirtschaftlichen Interessen, die in der Vereinbarung über den Unternehmenszusammenschluss vorgesehen sind, einschließlich des Risikos, dass die Parteien im Falle des Abschlusses der geplanten Transaktion ihr Ziel, ein kombiniertes Unternehmen im Wert von 3,0 Milliarden US-Dollar zu schaffen, möglicherweise nie erreichen (zum Zeitpunkt dieser Erklärung stellt diese Aussage lediglich ein Ziel dar, das die Parteien zu einem späteren Zeitpunkt erreichen wollen, und dieses Ziel wurde in der Vergangenheit nicht erreicht und wird möglicherweise auch in Zukunft nie erreicht werden); (11) Änderungen an der Struktur, dem Zeitplan oder den Bedingungen einer geplanten Transaktion, die aufgrund geltender Gesetze, Vorschriften, bilanzieller Erwägungen, Börsenanforderungen oder behördlicher Vorgaben erforderlich sein könnten oder als angemessen erachtet werden; (12) das Risiko, dass erforderliche behördliche, staatliche, börsliche oder aktionärsseitige Genehmigungen nicht eingeholt werden, sich verzögern oder Bedingungen unterliegen, die sich nachteilig auf die Parteien oder die erwarteten Vorteile einer geplanten Transaktion auswirken könnten; (13) das Risiko, dass die Bekanntgabe der Vereinbarung über den Unternehmenszusammenschluss oder die Verfolgung der geplanten Transaktionen die aktuellen Pläne, den Betrieb oder die Beziehungen von XCF, DEVS oder Southern stört; (14) das Risiko, dass die erwarteten Vorteile einer geplanten Transaktion aufgrund von Wettbewerb, Herausforderungen bei der Umsetzung, Marktbedingungen oder der Unfähigkeit, das Geschäft profitabel auszubauen und zu führen, nicht realisiert werden; (15) Kosten, Aufwendungen und Ablenkung des Managements im Zusammenhang mit potenziellen Rechtsstreitigkeiten und geplanten Transaktionen; (16) Änderungen geltender Gesetze, Vorschriften oder Durchsetzungsprioritäten, einschließlich umfangreicher Regulierungs- und Compliance-Verpflichtungen, die für die Geschäfte der Parteien gelten; und (17) sonstige wirtschaftliche, geschäftliche, wettbewerbsbezogene, betriebliche oder finanzielle Faktoren, die außerhalb der Kontrolle des Managements liegen, einschließlich derjenigen, die in den folgenden Unterlagen enthalten sind: (i) den bei der SEC eingereichten Unterlagen von XCF, einschließlich der endgültigen Vollmachtserklärung/des endgültigen Prospekts im Zusammenhang mit dem Unternehmenszusammenschluss, die am 6. Februar 2025 bei der SEC eingereicht wurden, dieser Pressemitteilung und anderer Unterlagen, die XCF bei der SEC eingereicht hat oder in Zukunft einreichen wird, sowie (ii) dem Formular 10-K von DevvStream für das am 31. Juli 2025 endende Geschäftsjahr, das am 6. November 2025 bei der SEC eingereicht wurde, sowie nachfolgenden Berichten, die bei der SEC und den kanadischen Wertpapieraufsichtsbehörden eingereicht wurden und auf dem Profil von DevvStream unter www.sedarplus.ca verfügbar sind.
Obwohl die Vereinbarung über den Unternehmenszusammenschluss für die Parteien bindend ist, verpflichtet sie die Parteien nicht, die geplante Transaktion durchzuführen. Der Abschluss der geplanten Transaktion unterliegt weiterhin der Erfüllung oder dem Verzicht auf die geltenden Abschlussbedingungen, und die Vereinbarung über den Unternehmenszusammenschluss kann gemäß ihren Bestimmungen gekündigt werden. Es kann nicht garantiert werden, dass die geplante Transaktion zu den hierin beschriebenen Bedingungen oder überhaupt vollzogen wird. Investoren werden darauf hingewiesen, sich nicht übermäßig auf diese zukunftsgerichteten Aussagen zu verlassen, die nur zum Zeitpunkt dieser Mitteilung Gültigkeit haben und keine Garantie für zukünftige Leistungen oder Ergebnisse darstellen.
Alle zukunftsgerichteten Aussagen gelten nur zum Zeitpunkt dieser Pressemitteilung. Weder DevvStream, XCF, Southern noch EEME übernehmen eine Verpflichtung, zukunftsgerichtete Aussagen zu aktualisieren, sei es aufgrund neuer Informationen oder Entwicklungen, zukünftiger Ereignisse oder aus anderen Gründen, es sei denn, dies ist gesetzlich vorgeschrieben. Weder die zukünftige Verbreitung dieser Pressemitteilung noch die fortgesetzte Verfügbarkeit dieser Pressemitteilung in archivierter Form auf der Website von DevvStream unter www.devvstream.com/investors/ oder auf der Website von XCF unter www.xcf.global/investor-relations sollte als Aktualisierung oder Bekräftigung dieser Aussagen zu einem zukünftigen Zeitpunkt angesehen werden.
Die Ausgangssprache, in der der Originaltext veröffentlicht wird, ist die offizielle und autorisierte Version. Übersetzungen werden zur besseren Verständigung mitgeliefert. Nur die Sprachversion, die im Original veröffentlicht wurde, ist rechtsgültig. Gleichen Sie deshalb Übersetzungen mit der originalen Sprachversion der Veröffentlichung ab.
Originalversion auf businesswire.com ansehen: https://www.businesswire.com/news/home/20260414591832/de/
Kontakt für Investorenbeziehungen
DevvStream: ir@devvstream.com
XCF: media@xcf.global
Southern: info@southernenergyrenew.com
Original: XCF Global, Southern Energy Renewables und DevvStream unterzeichnen endgültige Vereinbarung über den Unternehmenszusammenschluss im Rahmen der zuvor angekündigten geplanten Dreierfusion zur Schaffung einer Energieplattform der nächsten Generation
US Market News
2月前
XCF Global, Southern Energy Renewables et DevvStream signent un accord définitif de regroupement d’entreprises concernant le projet de fusion tripartite annoncé précédemment visant à créer une plateforme énergétique de nouvelle générationApril 15, 2026 7:50 PM
Business Wire
Création d’une plateforme de transition énergétique de nouvelle génération : l’opération proposée rassemble les carburants durables SAF, le méthanol vert, les produits renouvelables, la monétisation des attributs environnementaux et les infrastructures énergétiques de pointe au sein d’une plateforme unique et évolutive à l’échelle mondiale.
Intégration des marchés des carburants, des infrastructures et de l’environnement : la société issue de la fusion devrait relier la production de carburants à faible teneur en carbone aux crédits carbone et aux instruments connexes, à la commercialisation d’engagements d’achat à long terme et au développement d’infrastructures.
Soutien aux stratégies de décarbonisation des clients : en combinant des carburants à faible teneur en carbone évolutifs avec la monétisation des attributs environnementaux, la plateforme aide les compagnies aériennes et les entreprises clientes à répondre aux exigences réglementaires et de durabilité avec une plus grande flexibilité.
XCF Global, Inc. (Nasdaq : SAFX) (« XCF »), acteur clé de la décarbonisation du secteur aérien grâce aux carburants aériens durables (« SAF »), et DevvStream Corp. (NASDAQ : DEVS) (« DevvStream »), une société de premier plan spécialisée dans la gestion du carbone et la monétisation des actifs environnementaux, ont annoncé aujourd’hui la signature d’un accord définitif de regroupement d’entreprises avec Southern Energy Renewables Inc. (« Southern »), une étape importante dans l’initiative précédemment annoncée par les trois parties visant à établir une plateforme combinée de transition énergétique conçue pour développer et déployer à grande échelle des carburants aériens durables (« SAF »), du méthanol vert, des produits renouvelables et des infrastructures énergétiques à faible émission de carbone de nouvelle génération, tout en intégrant la monétisation des attributs environnementaux tout au long de la chaîne de valeur. Cette plateforme sera en mesure de rivaliser avec la Chine et le reste du monde en fournissant des carburants et d’autres produits sans subventions. La transaction reste soumise aux conditions de clôture habituelles ainsi qu’aux autres conditions, conditions de clôture et cas de résiliation (y compris le défaut de réception en temps opportun des avis d’équité applicables) énoncés dans l’accord de regroupement d’entreprises.
La société issue du regroupement est constituée dans le but de créer une plateforme d’énergie alternative multi-actifs et évolutive à l’échelle mondiale. La plateforme devrait intégrer des carburants à faible teneur en carbone, notamment les carburants durables (SAF), le méthanol, les produits renouvelables et les filières de conversion du méthanol en carburant aviation ; la monétisation des attributs environnementaux, y compris les crédits carbone et les instruments connexes ; des systèmes énergétiques avancés, notamment des petits réacteurs nucléaires modulaires (« SMR ») destinés à alimenter la production de carburant et les centres de données d’IA ; ainsi que le développement d’infrastructures associé à une commercialisation à long terme des débouchés.
Les parties estiment que la plateforme a le potentiel d’atteindre une envergure considérable et dispose d’un potentiel de croissance à long terme significatif sur les marchés de la production de carburants, des infrastructures et de l’environnement.
Structure de la transaction
La transaction sera réalisée par le biais d’une série de fusions et d’étapes de restructuration. DevvStream transférera son siège social de l’Alberta au Delaware avant la clôture. XCF acquerra 100 % de DevvStream et de Southern par le biais de filiales de fusion, et DevvStream et Southern continueront d’exister en tant que filiales en propriété exclusive de XCF. Les actionnaires existants de DevvStream et de Southern recevront des actions ordinaires de XCF.
À l’issue de la clôture, la répartition du capital de la société fusionnée devrait être d’environ 66,7 % pour les actionnaires existants de XCF, 23,3 % pour les actionnaires de Southern et 10,0 % pour les actionnaires de DevvStream.
Levée de fonds et investissements dans les infrastructures
Dans le cadre de cette transaction, XCF a investi environ 10 millions de dollars dans l’extension et la conversion de son site de New Rise Reno afin de soutenir la production de carburants durables (SAF) et la capacité de mélange. La plateforme est conçue pour soutenir la production et la commercialisation de carburants à grande échelle, y compris des contrats d’achat à long terme. Southern devrait également lever jusqu’à 400 millions de dollars par le biais d’un financement obligataire afin de soutenir l’expansion de ses infrastructures.
La société issue de la fusion vise également (et la transaction est subordonnée à la réalisation de) des jalons opérationnels clés, notamment un chiffre d’affaires annualisé lié aux carburants supérieur à 1 milliard de dollars et un BAIIDA annualisé minimum de 100 millions de dollars.
Justification stratégique
Cette fusion rassemble des capacités complémentaires tout au long de la chaîne de valeur de l’énergie et du développement durable. DevvStream apporte ses capacités en matière de développement d’actifs environnementaux, de génération de crédits carbone et de monétisation. Southern apporte la diversification des produits, le développement technologique et des produits finis propres qui rivalisent avec les produits finis traditionnels. XCF apporte un accès aux marchés des capitaux au niveau de la plateforme et une stratégie d’investissement dans les énergies alternatives. Pour les clients, cette plateforme intégrée est conçue pour élargir l’accès à des solutions de carburants à faible empreinte carbone et non fossiles, tout en offrant une plus grande flexibilité dans la manière dont les réductions d’émissions sont réalisées et vérifiées, aidant ainsi les compagnies aériennes et les entreprises à atteindre leurs objectifs réglementaires, de conformité et de décarbonisation sur divers marchés et pour différentes filières de production.
Ensemble, les parties estiment que la société issue de la fusion sera en mesure d’accélérer le déploiement d’infrastructures énergétiques renouvelables et distribuées, de développer la production et la monétisation d’actifs environnementaux, et de fournir des solutions de développement durable intégrées et finançables aux marchés mondiaux.
Commentaires de la direction
Chris Cooper, directeur général de XCF Global, ajoute : « Notre objectif est de construire l’une des plateformes d’énergie alternative les plus complètes du marché, combinant production, électricité et monétisation. Cette transaction accélère la concrétisation de cette vision. Pour les compagnies aériennes et les entreprises, cela signifie un meilleur accès à des solutions SAF évolutives, associées à des attributs environnementaux de haute intégrité qui favorisent la conformité, le reporting et les objectifs de décarbonisation à long terme sur divers marchés. »
Sunny Trinh, directeur général de DevvStream, déclare : « Cette transaction établit une plateforme dotée de l’envergure, de l’intégration et de l’ambition nécessaires pour être compétitive à l’échelle mondiale dans le cadre de la transition énergétique. Nous alignons les marchés des infrastructures, des carburants et de l’environnement au sein d’un modèle commercial unique et évolutif. »
Jay Patel, directeur général de Southern Energy Renewables, déclare : « La capacité de Southern à mettre en œuvre la prochaine génération de technologies et de projets pour fournir des produits propres sans avoir recours à des subventions gouvernementales change véritablement la donne. Ensemble, nous prévoyons d’assurer l’indépendance énergétique et de soutenir la chaîne d’approvisionnement nationale grâce à un portefeuille de produits diversifié. L’avantage majeur de cette plateforme est qu’elle nous permettra de rivaliser avec la Chine et le reste du monde ; depuis trop longtemps, la Chine a pu définir les produits de référence utilisés dans le monde entier. »
Autorisations et conditions de clôture
La transaction est soumise à l’approbation des actionnaires, à l’entrée en vigueur de la déclaration d’enregistrement auprès de la SEC sur le formulaire S-4, aux autorisations des bourses, y compris la cotation au Nasdaq, à la finalisation du financement, à la conversion de l’usine, à la réalisation d’étapes commerciales clés et à l’obtention d’avis d’équité.
À propos de XCF Global, Inc.
XCF Global, Inc. (« XCF ») (Nasdaq : SAFX) est une entreprise émergente spécialisée dans les carburants aériens durables, qui se consacre à accélérer la transition de l’industrie aéronautique vers la neutralité carbone. Notre site phare, New Rise Reno, dispose d’une capacité de production nominale autorisée de 38 millions de gallons par an, ce qui positionne XCF comme l’un des pionniers parmi les producteurs de carburants durables pour l’aviation SAF à grande échelle en Amérique du Nord. XCF s’efforce de développer un portefeuille d’opportunités d’expansion potentielles au Nevada, en Caroline du Nord et en Floride, et de nouer des partenariats dans les secteurs de l’énergie et des transports afin de déployer les SAF à l’échelle mondiale. XCF est cotée sur le Nasdaq Capital Market sous le symbole SAFX.
Pour en savoir plus, rendez-vous sur XCF.Global
À propos de DevvStream
DevvStream (Nasdaq : DEVS) est une société de gestion du carbone spécialisée dans le développement, l’investissement et la vente d’actifs environnementaux à l’échelle mondiale, notamment des crédits carbone et des certificats d’énergie renouvelable.
À propos de Southern Energy Renewables
Southern Energy Renewables Inc. est une société américaine spécialisée dans le développement de carburants, de produits chimiques et de produits propres, qui se consacre à la promotion de projets à grande échelle de conversion de la biomasse en carburants. Ces projets sont conçus pour produire des carburants durables SAF et du méthanol vert à bilan carbone négatif, grâce à un système intégré de capture et de séquestration du carbone.
Informations supplémentaires et où les trouver
Dans le cadre de l’opération de regroupement d’entreprises proposée entre XCF, DevvStream et Southern, XCF préparera et déposera les documents pertinents auprès de la Securities and Exchange Commission (la « SEC »), y compris une déclaration d’enregistrement sur le formulaire S-4 qui contiendra les déclarations de procuration préliminaires de DevvStream et XCF, constituant également un prospectus de XCF (les « Déclarations de procuration/Prospectus »). Une circulaire de sollicitation de procurations définitive devrait être envoyée par courrier aux actionnaires de DevvStream et de XCF à compter d’une date d’enregistrement qui sera fixée pour le vote sur l’opération de regroupement d’entreprises proposée et d’autres questions décrites dans les circulaires de sollicitation de procurations/prospectus. DevvStream, XCF et Southern peuvent également déposer d’autres documents auprès de la SEC et des autorités canadiennes de réglementation des valeurs mobilières concernant l’opération proposée. La présente communication ne remplace en aucun cas une circulaire de sollicitation de procurations, une déclaration d’enregistrement ou un prospectus, ni tout autre document que DevvStream et Southern (selon le cas) pourraient déposer auprès de la SEC ou des autorités canadiennes de réglementation des valeurs mobilières dans le cadre de l’opération proposée. AVANT DE PRENDRE UNE DÉCISION DE VOTE OU D’INVESTISSEMENT, LES INVESTISSEURS ET LES DÉTENTEURS DE TITRES DE DEVVSTREAM SONT INVITÉS À LIRE ATTENTIVEMENT ET DANS LEUR INTÉGRALITÉ LES DÉCLARATIONS DE PROCURATION/LE PROSPECTUS DÈS LEUR PUBLICATION, AINSI QUE TOUT AUTRE DOCUMENT PERTINENT DÉPOSÉ OU QUI SERA DÉPOSÉ PAR DEVVSTREAM OU SOUTHERN AUPRÈS DE LA SEC OU DES AUTORITÉS DE RÉGLEMENTATION DES VALEURS MOBILIÈRES CANADIENNES, AINSI QUE TOUT CHANGEMENT OU SUPPLÉMENT À CES DOCUMENTS, EN LIEN AVEC L’OPÉRATION PROPOSÉE, DÈS LEUR PUBLICATION, CAR CES DOCUMENTS CONTIENNENT OU CONTIENDRONT DES INFORMATIONS IMPORTANTES SUR L’OPÉRATION PROPOSÉE ET LES QUESTIONS CONNEXES. Les investisseurs et les détenteurs de titres de DevvStream pourront obtenir gratuitement des exemplaires de la circulaire de sollicitation de procurations/du prospectus (lorsqu’ils seront disponibles), ainsi que d’autres documents contenant des informations importantes concernant DevvStream, Southern et les autres parties à l’opération envisagée, sans frais, via le site Web de la SEC sur www.sec.gov. Des exemplaires des documents déposés auprès de la SEC par (i) XCF seront disponibles gratuitement sous l’onglet « Financials » de la page « Investors » du site Web de XCF sur https://xcf.global/investor-relations/financials/sec-filings/ ou en contactant le service des relations avec les investisseurs de XCF à l’adresse safx@xcf.global et (ii) DevvStream seront disponibles gratuitement sous l’onglet « Financials » de la page « Investor Relations » du site Web de DevvStream sur www.devvstream.com/investors/ ou en contactant le service des relations avec les investisseurs de DevvStream à l’adresse ir@devvstream.com.
Participants à la sollicitation
DevvStream, Southern, XCF, EEME et leurs administrateurs respectifs, ainsi que certains de leurs dirigeants et employés respectifs, peuvent être considérés comme des participants à la sollicitation de procurations auprès des actionnaires de DevvStream et de XCF dans le cadre de l’opération proposée. Les informations concernant les administrateurs et les dirigeants de (i) XCF figurent dans un rapport courant sur formulaire 8-K/A, déposé auprès de la SEC le 31 octobre 2025, dans son rapport annuel sur formulaire 10-K pour l’exercice clos le 31 décembre 2025, déposé auprès de la SEC le 31 mars 2026, et dans d’autres documents déposés ultérieurement auprès de la SEC et (ii) DevvStream figurent dans la circulaire de sollicitation de procurations de DevvStream pour son assemblée générale annuelle des actionnaires de 2025, déposée auprès de la SEC le 18 novembre 2025, ainsi que dans d’autres documents déposés ultérieurement auprès de la SEC. Des informations supplémentaires concernant les participants aux sollicitations de procurations et une description de leurs intérêts directs ou indirects, qu’il s’agisse de participations en titres ou autres, figureront dans la circulaire de sollicitation de procurations/le prospectus et dans d’autres documents pertinents déposés auprès de la SEC (lorsqu’ils seront disponibles). Ces documents peuvent être obtenus gratuitement auprès des sources indiquées ci-dessus.
Aucune offre ou sollicitation
Le présent communiqué de presse est publié à titre informatif uniquement et ne constitue ni n’a pour objet de constituer une offre de vente ou une sollicitation d’offre d’achat de titres, ni une sollicitation de vote ou d’approbation ; il n’y aura aucune offre, sollicitation ou vente de titres dans toute juridiction où une telle offre, sollicitation ou vente serait illégale avant l’enregistrement ou l’agrément en vertu des lois sur les valeurs mobilières de ladite juridiction. Aucune offre de titres ne sera faite, sauf au moyen d’un prospectus répondant aux exigences de la section 10 du Securities Act de 1933, tel que modifié.
Mise en garde concernant les déclarations prospectives
Le présent communiqué de presse contient des déclarations « prospectives » au sens de la section 27A du Securities Act de 1933, tel que modifié, et de la section 21E du Securities Exchange Act de 1934, tel que modifié, qui comportent des risques et des incertitudes importants, y compris des déclarations concernant les opérations envisagées dans le cadre de l’accord de regroupement d’entreprises, la structure, le calendrier et les conditions prévus de l’opération envisagée, l’achèvement prévu de la conversion de l’usine, la réalisation d’objectifs financiers et opérationnels spécifiques (notamment un chiffre d’affaires annualisé lié aux produits de carburants mélangés supérieur à 1,0 milliard de dollars et un BAIIDA annualisé minimum de 100 millions de dollars), l’émission prévue d’obligations garanties par l’État par Southern, ainsi que la valorisation que les parties visent à atteindre. Toutes les déclarations, à l’exception des déclarations de faits historiques, sont des déclarations prospectives, y compris : les déclarations concernant le calendrier, la structure et les conditions prévus de la transaction envisagée ; la capacité des parties à mener à bien la transaction envisagée compte tenu des diverses conditions de clôture ; les avantages attendus de la transaction envisagée ; les conditions juridiques, économiques et réglementaires ; et toute hypothèse sous-jacente à l’un des éléments susmentionnés. Les déclarations prospectives portent sur des circonstances et des résultats futurs ainsi que sur d’autres affirmations qui ne constituent pas des faits historiques ; elles sont parfois identifiées par des termes tels que « viser », « pouvoir », « va », « devrait », « potentiel », « avoir l’intention de », « s’attendre à », « s’efforcer de », « chercher à », « anticiper », « estimer », « surestimer », « sous-estimer », « croire », « planifier », « pourrait », « ferait », « projeter », « prédire », « continuer », « viser », « objectif », « but », « conçu », ou les formes négatives de ces mots, ou d’autres termes ou expressions similaires qui concernent les attentes, la stratégie, les priorités, les plans ou les intentions de XCF, DevvStream ou Southern. Les déclarations prospectives sont fondées sur des plans, des estimations, des attentes et des hypothèses actuels qui sont soumis à des risques, des incertitudes et des hypothèses. Si un ou plusieurs de ces risques ou incertitudes devaient se concrétiser, ou si les hypothèses sous-jacentes s’avéraient incorrectes, les résultats réels pourraient différer sensiblement de ceux exprimés ou sous-entendus dans ces déclarations prospectives.
Nous ne pouvons donner aucune garantie quant à la réalisation de ces plans, estimations ou attentes, et par conséquent, les résultats réels peuvent différer sensiblement de tout plan, estimation ou attente contenus dans ces déclarations prospectives.
Les déclarations prospectives sont fondées sur les attentes, estimations, hypothèses et projections actuelles et comportent des risques et incertitudes connus et inconnus susceptibles d’entraîner une différence significative entre les résultats, développements ou issues réels et ceux exprimés ou sous-entendus dans ces déclarations. Les facteurs importants susceptibles d’entraîner une différence significative entre les résultats, développements ou issues réels comprennent, entre autres : (1) les changements dans les conditions commerciales, de marché, financières, politiques, réglementaires et juridiques, tant au niveau national qu’international ; (2) le risque que la conversion de l’usine soit retardée, ne soit pas achevée dans les délais prévus ou nécessite des capitaux supplémentaires dépassant les prévisions actuelles ; (3) le risque que XCF ne parvienne pas à atteindre les seuils annualisés fixés en matière de chiffre d’affaires et de BAIIDA, qui dépendent en grande partie des performances commerciales de XCF, de ses résultats d’exploitation, de la demande du marché, de ses capacités d’exécution et d’autres facteurs ; (4) le risque que Southern n’obtienne pas l’autorisation d’émettre jusqu’à 400 millions de dollars d’obligations, que ces obligations soient retardées, émises à des conditions moins favorables ou ne soient pas émises du tout ; (5) le risque que XCF ne soit pas en mesure d’obtenir ou de maintenir la conformité aux normes de cotation continue applicables du Nasdaq, y compris le rétablissement de la conformité à l’exigence d’un cours acheteur minimum de 1,00 dollar, ce qui pourrait entraîner une radiation de la cote si la conformité n’est pas rétablie dans les délais de régularisation applicables ; (6) l’incapacité de satisfaire aux conditions de clôture prévues par l’accord de regroupement d’entreprises ou d’y renoncer ; (7) la survenance d’événements, de changements ou d’autres circonstances susceptibles d’entraîner la résiliation de l’accord de regroupement d’entreprises, ou pouvant donner lieu à des litiges ou à des procédures judiciaires concernant l’interprétation, l’applicabilité ou l’exécution de l’accord de regroupement d’entreprises ; (8) l’issue de toute procédure judiciaire qui pourrait être engagée à l’encontre de XCF, DEVS, Southern, EEME ou de leurs filiales respectives, ce qui pourrait s’avérer coûteux, prendre beaucoup de temps, détourner l’attention de la direction et avoir un effet défavorable sur la liquidité ou la situation financière ; (9) l’incertitude quant à la portée, au calendrier ou à l’achèvement de la due diligence par l’une des parties et à la satisfaction de chacune des parties à cet égard ; (10) l’incertitude concernant les évaluations, la structure du capital, les modalités de financement, la participation au capital ou la répartition des intérêts économiques envisagés par l’accord de regroupement d’entreprises, y compris le risque que, dans l’hypothèse où la transaction proposée serait conclue, les parties ne parviennent jamais à atteindre leur objectif de créer une entreprise combinée d’une valeur de 3,0 milliards de dollars (à la date des présentes, cette déclaration ne représente qu’un objectif que les parties ont l’intention d’atteindre à une date future et cet objectif n’a pas été atteint dans le passé et pourrait ne jamais l’être à l’avenir) ; (11) les modifications de la structure, du calendrier ou des conditions de toute opération envisagée qui pourraient être requises ou jugées appropriées en raison des lois, réglementations, considérations comptables, exigences boursières ou directives réglementaires applicables ; (12) le risque que les autorisations réglementaires, gouvernementales, boursières ou des actionnaires requises ne soient pas obtenues, soient retardées ou soient soumises à des conditions susceptibles de nuire aux parties ou aux avantages escomptés de toute opération envisagée ; (13) le risque que l’annonce de l’accord de regroupement d’entreprises ou la poursuite des opérations envisagées perturbe les plans, les activités ou les relations actuels de XCF, DEVS ou Southern ; (14) le risque que les avantages escomptés de toute opération envisagée ne se concrétisent pas en raison de la concurrence, de difficultés d’exécution, des conditions du marché ou de l’incapacité à développer et à gérer les activités de manière rentable ; (15) les coûts, les dépenses et la distraction de la direction liés aux litiges potentiels et à toute transaction envisagée ; (16) les modifications des lois, réglementations ou priorités d’application applicables, y compris les obligations réglementaires et de conformité étendues applicables aux activités des parties ; et (17) d’autres facteurs économiques, commerciaux, concurrentiels, opérationnels ou financiers échappant au contrôle de la direction, y compris ceux énoncés dans (i) les documents déposés par XCF auprès de la SEC, y compris la circulaire de sollicitation de procurations/le prospectus final relatif au regroupement d’entreprises déposé auprès de la SEC le 6 février 2025, le présent communiqué de presse et les autres documents que XCF a déposés ou déposera à l’avenir auprès de la SEC, et (ii) le formulaire 10-K de DevvStream pour l’exercice clos le 31 juillet 2025, déposé auprès de la SEC le 6 novembre 2025, et les rapports ultérieurs déposés auprès de la SEC et des autorités canadiennes de réglementation des valeurs mobilières, disponibles sur le profil de DevvStream à l’adresse www.sedarplus.ca.
Bien que l’accord de regroupement d’entreprises lie les parties, il ne les oblige pas à mener à bien l’opération envisagée. La réalisation de l’opération envisagée reste subordonnée au respect ou à la renonciation aux conditions de clôture applicables, et l’accord de regroupement d’entreprises peut être résilié conformément à ses termes. Rien ne garantit que l’opération envisagée sera menée à bien selon les modalités décrites dans le présent document, ni même qu’elle le sera. Les investisseurs sont priés de ne pas se fier indûment à ces déclarations prospectives, qui ne sont valables qu’à la date du présent communiqué et ne constituent en aucun cas des garanties de performances ou de résultats futurs.
Toute déclaration prospective n’est valable qu’à la date du présent communiqué de presse. Ni DevvStream, ni XCF, ni Southern, ni EEME ne s’engagent à mettre à jour les déclarations prospectives, que ce soit à la suite de nouvelles informations ou de développements, d’événements futurs ou pour toute autre raison, sauf si la loi l’exige. Ni la diffusion future du présent communiqué de presse ni la disponibilité continue de celui-ci sous forme d’archive sur le site Web de DevvStream à l’adresse www.devvstream.com/investors/ ou sur le site Web de XCF à l’adresse www.xcf.global/investor-relations ne doivent être considérées comme constituant une mise à jour ou une réaffirmation de ces déclarations à une date ultérieure.
Le texte du communiqué issu d’une traduction ne doit d’aucune manière être considéré comme officiel. La seule version du communiqué qui fasse foi est celle du communiqué dans sa langue d’origine. La traduction devra toujours être confrontée au texte source, qui fera jurisprudence.
Consultez la version source sur businesswire.com : https://www.businesswire.com/news/home/20260414162974/fr/
Contact relations investisseurs
DevvStream : ir@devvstream.com
XCF : media@xcf.global
Southern : info@southernenergyrenew.com
Original: XCF Global, Southern Energy Renewables et DevvStream signent un accord définitif de regroupement d’entreprises concernant le projet de fusion tripartite annoncé précédemment visant à créer une plateforme énergétique de nouvelle génération
US Market News
2月前
XCF Global, Southern Energy Renewables and DevvStream Sign Definitive Business Combination Agreement with Respect to Previously Announced Proposed Three-Party Merger to Create Next-Generation Energy PlatformApril 14, 2026 5:57 AM
ACCESS NewswireCreation of a next-generation energy transition platform: The proposed transaction brings together SAF, green methanol, renewable products, environmental attribute monetization, and advanced energy infrastructure into a single, globally scalable platform.Integrated fuels, infrastructure, and environmental markets: The combined company is expected to link low-carbon fuel production with carbon credits and related instruments, long-term offtake commercialization, and infrastructure development.Supports customer decarbonization strategies: By combining scalable low-carbon fuels with environmental attribute monetization, the platform helps airlines and corporate customers address regulatory and sustainability requirements with greater flexibility. HOUSTON, TX / ACCESS Newswire / April 14, 2026 / XCF Global, Inc. (NASDAQ:SAFX) ("XCF"), a key player in decarbonizing the aviation industry through sustainable aviation fuel ("SAF"), and DevvStream Corp. (NASDAQ:DEVS) ("DevvStream"), a leading carbon management and environmental-asset monetization firm, today announced the execution of a definitive Business Combination Agreement with Southern Energy Renewables Inc. ("Southern"), an important next milestone in the three parties' previously announced initiative to establish a combined energy transition platform designed to develop and scale sustainable aviation fuel ("SAF"), green methanol, renewable products, and next-generation low-carbon energy infrastructure, while embedding environmental attribute monetization across the value chain. This platform will be able to compete with China and the world on providing fuels and other products without subsidies. The transaction remains subject to customary closing conditions as well as the other terms, closing conditions and termination events (including failure to timely receive the applicable fairness opinions) set forth in the Business Combination Agreement.The combined company is being formed with the objective of building a multi-asset, globally scalable alternative energy platform. The platform is expected to integrate low-carbon fuels, including SAF, methanol, renewable products, and methanol-to-jet fuel pathways; environmental attribute monetization, including carbon credits and related instruments; advanced energy systems, including small modular nuclear reactors ("SMRs") to power fuel production and AI data centers; and infrastructure development together with long-term offtake commercialization.The parties believe the platform has the potential to achieve substantial scale and has significant long-term growth potential across fuel production, infrastructure and environmental markets.Transaction StructureThe transaction will be executed through a series of mergers and restructuring steps. DevvStream will domesticate from Alberta to Delaware prior to closing. XCF will acquire 100% of DevvStream and Southern through merger subsidiaries, and DevvStream and Southern will each survive as wholly owned subsidiaries of XCF. Existing shareholders of DevvStream and Southern will receive shares of XCF common stock.Following closing, ownership of the combined company is expected to be approximately 66.7% for existing XCF shareholders, 23.3% for Southern shareholders, and 10.0% for DevvStream shareholders.Capital Formation and Infrastructure InvestmentAs part of the transaction, XCF has been investing ~$10 million into the buildout and conversion of its New Rise Reno facility to support SAF production and blending capacity. The platform is designed to support large-scale fuel production and commercialization, including long-term offtake agreements. Southern is also expected to pursue up to $400 million in bond financing to support infrastructure expansion.The combined company is also targeting (and the transaction is conditioned upon the achievement of) key operational milestones, including annualized fuel-related revenues exceeding $1 billion, minimum annualized EBITDA of $100 million.Strategic RationaleThe combination brings together complementary capabilities across the energy and sustainability value chain. DevvStream contributes environmental asset development, carbon credit generation and monetization capabilities. Southern contributes product diversification, technology development, and clean end products that compete with traditional end products. XCF contributes platform-level capital markets access and an alternative energy investment strategy. For customers, this integrated platform is designed to expand access to lower-carbon, non-fossil-based fuel solutions while providing greater flexibility in how emissions reductions are achieved and verified, helping airlines and corporate customers meet regulatory, compliance, and decarbonization objectives across diverse markets and feedstock pathways.Together, the parties believe the combined company will be positioned to accelerate deployment of renewable and distributed energy infrastructure, scale the generation and monetization of environmental assets, and deliver integrated, financeable sustainability solutions to global markets.Leadership CommentaryChris Cooper, Chief Executive Officer of XCF Global, added, "Our goal is to build one of the most comprehensive alternative energy platforms in the market, combining production, power, and monetization. This transaction accelerates that vision. For airlines and corporate customers, this means greater access to scalable SAF solutions, paired with high-integrity environmental attributes that support compliance, reporting, and long-term decarbonization goals across diverse markets."Sunny Trinh, Chief Executive Officer of DevvStream, commented, "This transaction establishes a platform with the scale, integration, and ambition to compete globally in the energy transition. We are aligning infrastructure, fuels, and environmental markets into a single, scalable business model."Jay Patel, Chief Executive Officer of Southern Energy Renewables, commented, "Southern's ability to bring the next generation of technology and projects to help provide clean products without the need of government subsidies is a true gamer changer. Together we plan to bring energy independence and support the domestic supply chain with a diversified product portfolio. The great thing about this platform is that we will be able to compete with China and the rest of the world; too long has China been able to set the benchmark products used worldwide."Approvals and Closing ConditionsThe transaction is subject to shareholder approvals, SEC registration statement effectiveness on Form S-4, stock exchange approvals including Nasdaq listing, completion of financing, plant conversion and commercial milestones and fairness opinions.About XCF Global, Inc.XCF Global, Inc. ("XCF") (NASDAQ:SAFX) is an emerging sustainable aviation fuel company dedicated to accelerating the aviation industry's transition to net-zero emissions. Our flagship facility, New Rise Reno, has a permitted nameplate production capacity of 38 million gallons per year, positioning XCF as an early mover among large-scale SAF producers in North America. XCF is working to advance a pipeline of potential expansion opportunities in Nevada, North Carolina, and Florida, and to build partnerships across the energy and transportation sectors to scale SAF globally. XCF is listed on the Nasdaq Capital Market and trades under the ticker, SAFX.To learn more go to XCF.GlobalAbout DevvStreamDevvStream (NASDAQ:DEVS) is a carbon management company focused on the development, investment, and sale of environmental assets worldwide, including carbon credits and renewable energy certificates.About Southern Energy RenewablesSouthern Energy Renewables Inc. is a U.S.-based clean fuels, chemicals and products developer focused on advancing large-scale biomass-to-fuels projects. These projects are designed to produce carbon-negative SAF and green methanol, supported by integrated carbon capture and sequestration.Additional Information and Where to Find ItIn connection with the proposed business combination transaction among XCF, DevvStream and Southern, XCF will prepare and file relevant materials with the Securities and Exchange Commission (the "SEC"), including a registration statement on Form S-4 that will contain preliminary proxy statements of DevvStream and XCF that also constitutes a prospectus of XCF (the "Proxy Statements/Prospectus"). A definitive proxy statement is expected to be mailed to stockholders of DevvStream and XCF as of a record date to be established for voting on the proposed business combination transaction and other matters as described in the Proxy Statements/Prospectus. DevvStream, XCF and Southern may also file other documents with the SEC and Canadian securities regulatory authorities regarding the proposed transaction. This communication is not a substitute for any proxy statement, registration statement or prospectus, or any other document that DevvStream and Southern (as applicable) may file with the SEC or Canadian securities regulatory authorities in connection with the proposed transaction. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS OF DEVVSTREAM ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE PROXY STATEMENTS/PROSPECTUS WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED BY DEVVSTREAM OR SOUTHERN WITH THE SEC OR CANADIAN SECURITIES REGULATORY AUTHORITIES, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, IN CONNECTION WITH THE PROPOSED TRANSACTION, WHEN THEY BECOME AVAILABLE BECAUSE THESE DOCUMENTS CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. DevvStream's investors and security holders will be able to obtain free copies of the Proxy Statement/Prospectus (when they become available), as well as other filings containing important information about DevvStream, Southern, and other parties to the proposed transaction, without charge through the website maintained by the SEC at www.sec.gov. Copies of the documents filed with the SEC by (i) XCF will be available free of charge under the tab "Financials" on the "Investors" page of the XCF's website at https://xcf.global/investor-relations/financials/sec-filings/ or by contacting the XCF's Investor Relations Department at safx@xcf.global and (ii) DevvStream will be available free of charge under the tab "Financials" on the "Investor Relations" page of DevvStream's website at www.devvstream.com/investors/ or by contacting DevvStream's Investor Relations Department at ir@devvstream.com.Participants in the SolicitationDevvStream, Southern, XCF, EEME and their respective directors and certain of their respective executive officers and employees may be deemed to be participants in the solicitation of proxies from DevvStream's and XCF's stockholders in connection with the proposed transaction. Information regarding directors and executive officers of (i) XCF is contained in a Current Report on Form 8-K/A, filed with the SEC on October 31, 2025, its Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 31, 2026, and in other documents subsequently filed with the SEC and (ii) DevvStream is contained in DevvStream's proxy statement for its 2025 annual meeting of stockholders, filed with the SEC on November 18, 2025 and in other documents subsequently filed with the SEC. Additional information regarding the participants in the proxy solicitations and a description of their direct or indirect interests, by security holdings or otherwise, will be contained in the Proxy Statement/Prospectus and other relevant materials filed with the SEC (when they become available). These documents can be obtained free of charge from the sources indicated above.No Offer or SolicitationThis press release is for informational purposes only and is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any offer, solicitation or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.Cautionary Note Regarding Forward-Looking StatementsThis press release contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve substantial risks and uncertainties, including statements regarding the proposed transactions contemplated by the business combination agreement, the anticipated structure, timing and conditions of the proposed transaction, the anticipated completion of the plant conversion, the achievement of specified financial and operational milestones (including annualized blended fuel product revenues in excess of $1.0 billion and minimum annualized EBITDA of $100 million), the anticipated issuance of state-supported bonds by Southern, the valuation the parties are aiming to achieve. All statements, other than statements of historical facts, are forward-looking statements, including: statements regarding the expected timing, structure and terms of the proposed transaction; the ability of the parties to complete the proposed transaction considering the various closing conditions; the expected benefits of the proposed transaction; legal, economic, and regulatory conditions; and any assumptions underlying any of the foregoing. Forward-looking statements concern future circumstances and results and other statements that are not historical facts and are sometimes identified by the words "aim," "may," "will," "should," "potential," "intend," "expect," "endeavor," "seek," "anticipate," "estimate," "overestimate," "underestimate," "believe," "plan," "could," "would," "project," "predict," "continue," "target," "objective," "goal," "designed," or the negatives of these words or other similar terms or expressions that concern XCF's, DevvStream's, or Southern's expectations, strategy, priorities, plans, or intentions. Forward-looking statements are based upon current plans, estimates, expectations, and assumptions that are subject to risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ materially from those expressed or implied by such forward-looking statements.We can give no assurance that such plans, estimates, or expectations will be achieved, and therefore, actual results may differ materially from any plans, estimates, or expectations in such forward-looking statements.Forward-looking statements are based on current expectations, estimates, assumptions and projections and involve known and unknown risks and uncertainties that may cause actual results, developments or outcomes to differ materially from those expressed or implied by such statements. Important factors that could cause actual results, developments or outcomes to differ materially include, among others: (1) changes in domestic and foreign business, market, financial, political, regulatory and legal conditions; (2) the risk that the plant conversion is delayed, not completed on the anticipated timeline, or requires additional capital beyond current expectations; (3) the risk that XCF is unable to achieve the specified annualized revenue and EBITDA thresholds, which depend in significant part on XCF's business performance, operating results, market demand, execution capabilities, and other factors; (4) the risk that Southern does not receive authorization to issue up to $400 million of bonds, that such bonds are delayed, issued on less favorable terms, or not issued at all; (5) the risk that XCF is unable to obtain or maintain compliance with applicable Nasdaq continued listing standards, including regaining compliance with $1.00 minimum bid price requirement, which could result in delisting if compliance is not regained within applicable cure periods; (6) the inability to satisfy or waive the closing conditions contemplated by the business combination agreement; (7) the occurrence of events, changes or other circumstances that could give rise to the termination of the business combination agreement, or that could result in disputes or litigation relating to the interpretation, enforceability or performance of the business combination agreement; (8) the outcome of any legal proceedings that may be instituted against XCF, DEVS, Southern, EEME or their respective affiliates, which could be costly, time-consuming, divert management attention and adversely affect liquidity or financial condition; (9) uncertainty with respect to the scope, timing or completion of due diligence by any party and each party's satisfaction therewith; (10) uncertainty regarding valuations, capital structure, financing arrangements, equity ownership, or the allocation of economic interests contemplated by the business combination agreement, including the risk that, in the event the proposed transaction closes, the parties may never achieve their aim of creating a $3.0 billion combined enterprise (as of the date hereof this statement only represents an objective that the parties intend to achieve on a future date and such objective has not in the past and may never in the future be achieved); (11) changes to the structure, timing or terms of any proposed transaction that may be required or deemed appropriate as a result of applicable laws, regulations, accounting considerations, stock exchange requirements or regulatory guidance; (12) the risk that required regulatory, governmental, stock exchange or shareholder approvals are not obtained, are delayed or are subject to conditions that could adversely affect the parties or the expected benefits of any contemplated transaction; (13) the risk that the announcement of the business combination agreement or the pursuit of the contemplated transactions disrupts current plans, operations or relationships of XCF, DEVS or Southern; (14) the risk that anticipated benefits of any contemplated transaction are not realized due to competition, execution challenges, market conditions, or the inability to grow and manage operations profitably; (15) costs, expenses and management distraction associated with the potential litigation and any contemplated transactions; (16) changes in applicable laws, regulations or enforcement priorities, including extensive regulation and compliance obligations applicable to the parties' businesses; and (17) other economic, business, competitive, operational or financial factors beyond management's control, including those set forth in (i) XCF's filings with the SEC, including the final proxy statement/prospectus relating to the Business Combination filed with the SEC on February 6, 2025, this Press Release and other filings XCF made or will make with the SEC in the future and (ii) DevvStream's Form 10-K for the fiscal year ended July 31, 2025, filed with the SEC on November 6, 2025, and subsequent reports filed with SEC and Canadian securities regulatory authorities available on DevvStream's profile at www.sedarplus.ca.Although the business combination agreement is binding on the parties, it does not obligate the parties to consummate the proposed transaction. The consummation of the proposed transaction remains subject to the satisfaction or waiver of applicable closing conditions, and the business combination agreement may be terminated in accordance with its terms. There can be no assurance that the proposed transaction will be consummated on the terms described herein or at all. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and are not guarantees of future performance or outcomes.Any forward-looking statements speak only as of the date of this press release. Neither DevvStream, XCF, Southern or EEME undertakes any obligation to update any forward-looking statements, whether as a result of new information or developments, future events, or otherwise, except as required by law. Neither future distribution of this press release nor the continued availability of this press release in archive form on DevvStream's website at www.devvstream.com/investors/ or XCF's website at xcf.global should be deemed to constitute an update or re-affirmation of these statements as of any future date.Investor Relations Contact
DevvStream: ir@devvstream.com
XCF: media@xcf.global
Southern: info@southernenergyrenew.comSOURCE: XCF Global, Inc.View the original press release on ACCESS NewswireOriginal: XCF Global, Southern Energy Renewables and DevvStream Sign Definitive Business Combination Agreement with Respect to Previously Announced Proposed Three-Party Merger to Create Next-Generation Energy Platform
US Market News
3月前
DevvStream Reduces Debt by Approximately $5.9 Million, Net of an Additional $700,000 Loan to Support the Company’s Working Capital NeedsMarch 13, 2026 9:30 AM
Business Wire
Key partners convert debt to equity at a premium, demonstrating confidence in DevvStream’s long-term value
DevvStream Corp. (NASDAQ: DEVS) (“DevvStream” or the “Company”), a leading carbon management and environmental asset development company, today announced a series of strategic transactions that collectively reduce approximately $5.9 million of outstanding debt, materially strengthening the Company’s balance sheet. The transactions include a combination of debt-to-equity conversions and debt repayment from key strategic partners, along with additional $700,000 loan to support ongoing operations.
Focus Impact Partners, including its affiliates (“FIP”) has converted 100% of its 5.3% convertible notes due November 2026 (“FIP Notes”), and certain consulting fees totaling approximately $5.5 million in aggregate, into equity of DevvStream at a 12.9% premium to the Company’s March 10, 2026 closing share price, demonstrating strong confidence in the Company’s long-term strategy and equity value. Additionally, Helena Partners (“Helena”) has agreed to release approximately $1.2 million from the Company’s cash collateral account, related to the existing $10.0 million convertible note (“Helena Note”) dated July 17, 2025, allowing DevvStream to prepay approximately $1.1 million of debt owed to Helena. Helena has also agreed to waive all monthly interest charges otherwise accruing and payable under the Note through May 2026 (the “Interest Waiver”). In addition, Helena has provided DevvStream with a $700,000, 0% interest loan due March 2027 to support the Company’s general working capital needs.
Together, these transactions reduce DevvStream’s outstanding debt by approximately $5.9 million, materially improving the Company’s capital structure.
“These transactions represent a significant step forward in strengthening DevvStream’s financial foundation,” said Sunny Trinh, Chief Executive Officer of DevvStream. “The willingness of our partners to convert debt into equity—particularly at a premium to our current share price—reflects meaningful confidence in the Company’s direction and long-term value. By reducing approximately $5.9 million net of debt and securing additional funding, we have improved our balance sheet and positioned the Company to continue executing on our strategy and delivering value for shareholders.”
About DevvStream
DevvStream Corp. (NASDAQ: DEVS) is a leading carbon management firm specializing in the development, investment, and monetization of environmental assets. The Company partners with corporations, governments, and project developers globally to generate and manage high-integrity environmental credits and certificates that support decarbonization and sustainability objectives.
For more information, please visit www.devvstream.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), that involve substantial risks and uncertainties. Forward-looking statements include, but are not limited to, statements regarding the anticipated benefits of the transactions described herein, the Company’s ability to strengthen its balance sheet and capital structure, the Company’s working capital runway and ability to fund operations, the Company’s expectations regarding continued execution of its business strategy, the anticipated effect of the Interest Waiver, and any other statements regarding the Company’s future expectations, beliefs, plans, objectives, financial conditions, assumptions, or future events or performance.
All statements, other than statements of historical facts, are forward-looking statements. Forward-looking statements can be identified by the use of forward-looking terminology such as “expect,” “anticipate,” “believe,” “estimate,” “plan,” “intend,” “may,” “will,” “should,” “could,” “project,” “target,” “goal,” “seek,” “potential,” “continue,” or the negatives of these words or other similar expressions that concern the Company’s expectations, strategy, plans, or intentions.
Forward-looking statements are based on current plans, estimates, expectations, and assumptions that are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those projected or implied. The Company can give no assurance that any plans, estimates, or expectations will be achieved. Important factors that could cause actual results, developments, or outcomes to differ materially from those expressed or implied by forward-looking statements include, among others:
(1) the ability of the Company to maintain sufficient liquidity and working capital to fund ongoing operations, including the risk that the $700,000 working capital loan provided by Helena may be insufficient to meet the Company’s near-term cash needs;
(2) the risk that the debt-to-equity conversions described herein do not achieve the anticipated improvement to the Company’s capital structure or balance sheet;
(3) fluctuations in the market price of the Company’s common shares on the Nasdaq Capital Market;
(4) the risk that the Company is unable to obtain or maintain compliance with applicable Nasdaq continued listing standards, including without limitation stockholder equity and minimum bid price requirements, which could result in delisting if compliance is not regained within applicable cure periods;
(5) changes in domestic and foreign business, market, financial, political, regulatory, and legal conditions affecting the Company’s business or the voluntary carbon credit market generally;
(6) the risk that demand for voluntary carbon credits or environmental assets declines, including as a result of changes in corporate sustainability commitments, evolving regulatory frameworks, or adverse developments in carbon market integrity standards;
(7) changes in laws, regulations, or government policies relating to carbon markets, climate finance, or environmental asset monetization, including actions by the U.S. federal government, Canadian federal or provincial authorities, or international regulatory bodies;
(8) the Company’s ability to execute on its business strategy, including its ability to originate, develop, and monetize high-integrity environmental credits and certificates at anticipated volumes and pricing;
(9) the ability of the Company to access capital markets or obtain additional financing on acceptable terms, or at all, to fund future operations and growth initiatives;
(10) the risk that the terms of the Helena Note or other existing debt obligations impose operational constraints that adversely affect the Company’s business flexibility;
(11) the outcome of any legal, regulatory, or other proceedings that may be instituted against the Company, which could be costly, time-consuming, and divert management attention;
(12) risks related to the limitations on the Company’s operations imposed by the Merger Agreement dated December 3, 2025 among the Company and the other parties thereto;
(13) general economic conditions, including inflationary pressures, interest rate changes, geopolitical uncertainty, and their potential impact on the Company’s business and financial condition; and
(14) other economic, business, competitive, operational, or financial factors beyond management’s control, including those set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended July 31, 2025, filed with the SEC on November 6, 2025, and in subsequent reports filed with the SEC and Canadian securities regulatory authorities, available on the Company’s profile at www.sedarplus.ca and on the SEC’s website at www.sec.gov.
The forward-looking statements in this press release are based on information available to the Company as of the date hereof. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this communication and are not guarantees of future performance or outcomes.
Any forward-looking statements speak only as of the date of this press release. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, developments, or otherwise, except as required by applicable securities laws. Neither the future distribution of this press release nor the continued availability of this press release in archive form on the Company’s website at www.devvstream.com/investors/ should be deemed to constitute an update or re-affirmation of these statements as of any future date.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260313649589/en/
Investor Relations
DevvStream Corp.
IR@devvstream.com
Original: DevvStream Reduces Debt by Approximately $5.9 Million, Net of an Additional $700,000 Loan to Support the Company’s Working Capital Needs
US Market News
3月前
XCF Global Provides Update on Ongoing Capital Raise and Merger DiscussionsMarch 10, 2026 9:05 AM
ACCESS NewswireHOUSTON, TX / ACCESS Newswire / March 10, 2026 / XCF Global, Inc. ("XCF") (NASDAQ:SAFX) a leading innovator in decarbonizing the aviation industry through Sustainable Aviation Fuel ("SAF") today announced that, at a Special Meeting of its Stockholders held on March 6, 2026, its stockholders approved the issuance of 19.99% or more of the Company's issued and outstanding Common Stock as of January 26, 2026 pursuant to a private placement offering of shares of Common Stock to a single investor in accordance with Nasdaq Listing Rules 5635(d) and 5635(b).As XCF previously reported, on January 26, 2026, XCF entered into a binding term sheet with Southern Energy Renewables, Inc., a Louisiana corporation ("Southern"), DevvStream Corp., an Alberta corporation ("DEVS"), and EEME Energy SPV I LLC ("EEME"), which sets forth the principal terms and conditions of a proposed business combination among such parties. The Term Sheet also contemplates that XCF will invest $10 million to convert and build out its New Rise Renewables Reno facility for SAF production and blending and related corporate purposes (the "Plant Conversion"), to be funded through the sale by XCF to EEME of $10 million of Common Stock; provided that in no event would XCF issue to EEME, nor would EEME (i) acquire more than 41,639,170 shares of XCF's common stock pursuant to the Term Sheet or (ii) acquire or to otherwise become, directly or indirectly, a "beneficial owner" (within the meaning of Section 13(d) of the Securities Exchange Act of 1934, as amended and the rules and regulations promulgated thereunder) of a number of shares of Common Stock in excess of 19.99% of the issued and outstanding shares of Common Stock as of the date hereof until such time as XCF has obtain stockholder approval for such issuance (the "Share Cap").As part of the planned Plant Conversion, XCF has initiated upgrades to the New Rise Renewables Reno facility, including the procurement of a new hydrotreating catalyst. This technology will enable the facility to convert a broad range of renewable feedstocks into high-quality neat sustainable aviation fuel, SAF, that meets ASTM D7566 specifications. The upgraded hydrotreating system will utilize Axens' Vegan ® technology, a proven platform designed for flexible high -performance renewable fuel production. XCF's stockholder approval obtained at the March 6, 2026 Special Meeting of Stockholders removes the Share Cap and allows EEME to acquire the balance of the shares it committed to purchase pursuant to the Term Sheet. Prior to today, EEME had acquired 38,000,000 shares of XCF Common Stock pursuant to the Term Sheet for a total of $3,800,000. XCF anticipates that EEME will acquire remaining 62,000,000 shares under the Term Sheet, for a total of $6,200,000, in two equal tranches, with half being funded during the week of March 7, 2026, and the other half being funded during the week of March 31, 2026."We are pleased to have achieved this milestone," stated Chris Cooper, XCF's Chief Executive Officer. "With work on the Plant Conversion already underway and our hydrotreating catalyst now in production with Axens, we believe we are well positioned to advance the upgrade of our New Rise Renewables Reno facility, even as the parties to the contemplated business combination continue to undertake due diligence and negotiate the definitive agreements related to the proposed business combination."The proposed business combination remains subject to negotiation of definitive agreements and required approvals. EEME's obligation to acquire such shares is independent of the remainder of the proposed Transaction contemplated by the Term Sheet.The proposed business combination, upon completion, is expected to provide a meaningful advancement in XCF's ability to help airlines and their customers reduce emissions associated with air travel. By combining multiple SAF production pathways with integrated environmental attribute monetization, it is anticipated that the combined entity will be in an enhanced position to access lower-carbon non-fossil-based solutions, meet regulatory requirements, and accelerate the availability of SAF options for the aviation sector.If the proposed transaction is completed, it is anticipated that XCF would become the parent entity of the combined platform, creating the first publicly traded SAF company in the United States capable of providing multiple non-fossil-based SAF production pathways alongside high integrity environmental attributes. In addition to HEFA and biomass-to-SAF pathways, the combined platform is expected to incorporate an emerging eSAF pathway through e-methanol-to-jet technology enabled by Southern. This structure is expected to position XCF to serve a broader range of customers by matching regional feedstock availability, market incentives, and emissions reduction requirements with the most efficient SAF pathway and associated high- integrity environmental attributes."As demand for sustainable aviation fuel accelerates globally, the ability to deploy multiple technology pathways under one company creates meaningful flexibility and commercial optionality," said Chris Cooper, XCF's Chief Executive Officer. "Airlines and corporate customers increasingly require both physical SAF and verified environmental attributes or SAF certificates to meet their decarbonization and reporting obligations. The combined platform is designed to make SAF more accessible, scalable, and better aligned with the diverse needs of customers across regions and feedstock markets."About XCF Global, Inc.
XCF Global, Inc. ("XCF") is an emerging sustainable aviation fuel company dedicated to accelerating the aviation industry's transition to net-zero emissions. Our flagship facility, New Rise Renewables Reno, has a permitted nameplate production capacity of 38 million gallons per year, positioning XCF as an early mover among large-scale SAF producers in North America. XCF is working to advance a pipeline of potential expansion opportunities in Nevada, North Carolina, and Florida, and to build partnerships across the energy and transportation sectors to scale SAF globally. XCF is listed on the Nasdaq Capital Market and trades under the ticker, SAFX.To learn more, visit XCF.GlobalAbout DevvStream (NASDAQ:DEVS)
DevvStream Corp. (NASDAQ:DEVS) is a carbon management company focused on the development, investment, and sale of environmental assets worldwide, including carbon credits and renewable energy certificates.To learn more, visit www.devvstream.com.About Southern Energy Renewables Inc.
Southern Energy Renewables Inc. is a U.S.-based clean fuels, chemicals, and products developer focused on advancing large-scale biomass-to-fuels projects. These projects are in development and designed to produce carbon-negative SAF and green methanol, supported by integrated carbon capture and sequestration.To learn more, visit www.southernenergyrenew.com.ContactsXCF Global: Corporate Comms
media@xcf.global Additional Information and Where to Find It
In connection with the proposed business combination transaction among XCF, DevvStream, Southern, and EEME, the parties expects to prepare and file relevant materials with the Securities and Exchange Commission (the "SEC"), including a registration statement on Form S-4 that will contain preliminary proxy statements of DevvStream and XCF that also constitutes a prospectus of XCF (the "Proxy Statements/Prospectus") in connection with the proposed business combination transaction. A definitive proxy statement is expected to be mailed to stockholders of DevvStream and XCF as of a record date to be established for voting on the proposed business combination transaction and other matters as described in the Proxy Statements/Prospectus. DevvStream, XCF and Southern may also file other documents with the SEC and Canadian securities regulatory authorities regarding the proposed transaction. This communication is not a substitute for any proxy statement, registration statement or prospectus, or any other document that DevvStream and Southern (as applicable) may file with the SEC or Canadian securities regulatory authorities in connection with the proposed transaction. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS OF DEVVSTREAM ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE PROXY STATEMENTS/PROSPECTUS WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED BY DEVVSTREAM OR XCF WITH THE SEC OR CANADIAN SECURITIES REGULATORY AUTHORITIES, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, IN CONNECTION WITH THE PROPOSED TRANSACTION, WHEN THEY BECOME AVAILABLE BECAUSE THESE DOCUMENTS CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and security holders will be able to obtain free copies of the Proxy Statement/Prospectus (when they become available), as well as other filings containing important information about XCF, DevvStream, Southern, and other parties to the proposed transaction, without charge through the website maintained by the SEC at www.sec.gov. Copies of the documents filed with the SEC by (i) XCF will be available free of charge under the tab "Financials" on the "Investors" page of the XCF's website at https://xcf.global/investor-relations/financials/sec-filings/ or by contacting the XCF's Investor Relations Department at safx@xcf.global and (ii) DevvStream will be available free of charge under the tab "Financials" on the "Investor Relations" page of DevvStream's website at www.devvstream.com/investors/ or by contacting DevvStream's Investor Relations Department at ir@devvstream.com.Participants in the Solicitation
DevvStream, Southern, XCF, EEME and their respective directors and certain of their respective executive officers and employees may be deemed to be participants in the solicitation of proxies from DevvStream's and XCF's stockholders in connection with the proposed transaction. Information regarding directors and executive officers of (i) XCF is contained in a Current Report on Form 8-K/A, file with the SEC on October 31, 2025, and in other documents subsequently filed with the SEC and (ii) DevvStream is contained in DevvStream's proxy statement for its 2025 annual meeting of stockholders, filed with the SEC on November 18, 2025 and in other documents subsequently filed with the SEC. Additional information regarding the participants in the proxy solicitations and a description of their direct or indirect interests, by security holdings or otherwise, will be contained in the Proxy Statement/Prospectus and other relevant materials filed with the SEC (when they become available). These documents can be obtained free of charge from the sources indicated above.No Offer or Solicitation
DevvStream, Southern, XCF, EEME and their respective directors and certain of their respective executive officers and employees may be deemed to be participants in the solicitation of proxies from DevvStream's and XCF's stockholders in connection with the proposed transaction. Information regarding directors and executive officers of (i) XCF is contained in a Current Report on Form 8-K/A, file with the SEC on October 31, 2025, and in other documents subsequently filed with the SEC and (ii) DevvStream is contained in DevvStream's proxy statement for its 2025 annual meeting of stockholders, filed with the SEC on November 18, 2025 and in other documents subsequently filed with the SEC. Additional information regarding the participants in the proxy solicitations and a description of their direct or indirect interests, by security holdings or otherwise, will be contained in the Proxy Statement/Prospectus and other relevant materials filed with the SEC (when they become available). These documents can be obtained free of charge from the sources indicated above.Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve substantial risks and uncertainties, including statements regarding the binding term sheet, the proposed transactions contemplated thereby, the anticipated structure, timing and conditions of the proposed transaction, the anticipated completion of the plant conversion specified in the binding term sheet for the proposed transaction, the achievement of specified financial and operational milestones (including annualized blended fuel product revenues in excess of $1.0 billion and minimum annualized EBITDA of $100 million), the anticipated issuance of state-supported bonds by Southern, the valuation the parties are aiming to achieve following the consummation of the proposed transaction, and the expected benefits of the proposed transaction. All statements, other than statements of historical facts, are forward-looking statements, including statements regarding the expected timing, structure and terms of the proposed transaction; the ability of the parties to complete the proposed transaction considering the various closing conditions; the expected or targeted benefits of the proposed transaction; legal, economic, and regulatory conditions; and any assumptions underlying any of the foregoing. Forward-looking statements concern future circumstances and results and other statements that are not historical facts and are sometimes identified by words such as "aim," "may," "will," "should," "potential," "intend," "expect," "endeavor," "seek," "anticipate," "estimate," "overestimate," "underestimate," "believe," "plan," "could," "would," "project," "predict," "continue," "target," "objective," "goal," "designed," or the negatives of these words or other similar expressions that concern XCF's, DevvStream's, or Southern's expectations, strategy, priorities, plans, or intentions. Forward-looking statements are based upon current plans, estimates, expectations, and assumptions that are subject to risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ materially from those expressed or implied by such forward-looking statements.We can give no assurance that such plans, estimates, or expectations will be achieved, and therefore, actual results may differ materially from any plans, estimates, or expectations in such forward-looking statements.Forward-looking statements are based on current expectations, estimates, assumptions and projections and involve known and unknown risks and uncertainties that may cause actual results, developments or outcomes to differ materially from those expressed or implied by such statements. Important factors that could cause actual results, developments or outcomes to differ materially include, among others: (1) changes in domestic and foreign business, market, financial, political, regulatory and legal conditions; (2) the risk that the plant conversion specified in the term sheet for the proposed transaction is delayed, not completed on the anticipated timeline, or requires additional capital beyond current expectations; (3) the risk that XCF is unable to achieve the specified annualized revenue and EBITDA thresholds contemplated by the term sheet, which depend in significant part on XCF's business performance, operating results, market demand, execution capabilities, and other factors; (4) the risk that Southern does not receive authorization to issue up to $400 million of bonds, that such bonds are delayed, issued on less favorable terms, or not issued at all; (5) the risk that XCF is unable to obtain or maintain compliance with applicable Nasdaq continued listing standards, including regaining compliance with $1.00 minimum bid price requirement, which could result in delisting if compliance is not regained within applicable cure periods; (6) the risk that negotiations among the parties relating to the term sheet or any contemplated definitive agreements are delayed, modified, suspended or terminated, including as a result of alleged breaches or differing interpretations of the binding provisions of the term sheet; (7) the inability of the parties to agree on mutually acceptable definitive agreements or to satisfy or waive the closing conditions contemplated by the term sheet; (8) the occurrence of events, changes or other circumstances that could give rise to the termination of the term sheet or any related negotiations, or that could result in disputes or litigation relating to the interpretation, enforceability or performance of the binding provisions of the term sheet; (9) the outcome of any legal proceedings that may be instituted against XCF, DEVS, Southern, EEME or their respective affiliates, which could be costly, time-consuming, divert management attention and adversely affect liquidity or financial condition; (10) uncertainty with respect to the scope, timing or completion of due diligence by any party and each party's satisfaction therewith; (11) uncertainty regarding valuations, capital structure, financing arrangements, equity ownership, or the allocation of economic interests contemplated by the term sheet, including the risk that, in the event the proposed transaction closes, the parties may never achieve their aim of creating a $3.0 billion combined enterprise (as of the date hereof this statement only represents an objective that the parties intend to achieve on a future date and such objective has not in the past and may never in the future be achieved); (12) changes to the structure, timing or terms of any proposed transaction that may be required or deemed appropriate as a result of applicable laws, regulations, accounting considerations, stock exchange requirements or regulatory guidance; (13) the risk that required regulatory, governmental, stock exchange or stockholder approvals are not obtained, are delayed or are subject to conditions that could adversely affect the parties or the expected benefits of any contemplated transaction; (14) the risk that the announcement of the term sheet or the pursuit of the contemplated transactions disrupts current plans, operations or relationships of XCF, DEVS or Southern; (15) the risk that anticipated benefits of any contemplated transaction are not realized due to competition, execution challenges, market conditions, or the inability to grow and manage operations profitably; (16) costs, expenses and management distraction associated with the term sheet, negotiations, potential litigation and any contemplated transactions; (17) changes in applicable laws, regulations or enforcement priorities, including extensive regulation and compliance obligations applicable to the parties' businesses; and (18) other economic, business, competitive, operational or financial factors beyond management's control, including those set forth in (i) XCF's filings with the SEC, including the final proxy statement/prospectus relating to the Business Combination filed with the SEC on February 6, 2025, this Press Release and other filings XCF made or will make with the SEC in the future and (ii) DevvStream's Form 10-K for the fiscal year ended July 31, 2025, filed with the SEC on November 6, 2025, and subsequent reports filed with SEC and Canadian securities regulatory authorities available on DevvStream's profile at www.sedarplus.ca.Although the binding term sheet provides that certain provisions are binding on the parties, it does not obligate the parties to consummate the proposed transaction. The consummation of the proposed transaction remains subject to the negotiation, execution and delivery of definitive agreements and the satisfaction or waiver of applicable closing conditions, and the binding term sheet may be terminated in accordance with its terms. There can be no assurance that any definitive agreements will be entered into or that the proposed transaction will be consummated on the terms described herein or at all. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and are not guarantees of future performance or outcomes.Any forward-looking statements speak only as of the date of this communication. Neither DevvStream, XCF, Southern or EEME undertakes any obligation to update any forward-looking statements, whether as a result of new information or developments, future events, or otherwise, except as required by law. Neither future distribution of this communication nor the continued availability of this communication in archive form on DevvStream's website at www.devvstream.com/investors/or XCF's website at xcf.global/investor-relations should be deemed to constitute an update or re-affirmation of these statements as of any future date.SOURCE: XCF Global, Inc.View the original press release on ACCESS NewswireOriginal: XCF Global Provides Update on Ongoing Capital Raise and Merger Discussions
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