New york: 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'). This marks an important milestone in the three parties' initiative to establish a combined energy transition platform aiming 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. The transaction is contingent upon customary closing conditions and other terms detailed in the Business Combination Agreement, including necessary fairness opinions.

According to BERNAMA News Agency, the merged entity aims to build a globally scalable alternative energy platform integrating low-carbon fuels, such as SAF and methanol, renewable products, and methanol-to-jet fuel pathways. The platform will also focus on environmental attribute monetization, including carbon credits and related instruments, and advanced energy systems, such as small modular nuclear reactors ('SMRs') to power fuel production and AI data centers. Infrastructure development and long-term offtake commercialization are also key components of this strategic initiative.