New Power Trio Bets Big on the Future of Flight

XCF Global signs definitive merger agreement with DevvStream and Southern Energy Renewables to build an integrated North American SAF platform

22 Apr 2026

XCF Global has entered into a definitive agreement to acquire DevvStream and Southern Energy Renewables. The transaction, announced on April 14, 2026, aims to establish an integrated energy platform focused on sustainable aviation fuel (SAF), green methanol, and environmental credits.

Under the terms of the agreement, XCF will acquire 100 percent of both companies through dedicated merger subsidiaries. Following the closing of the deal, current XCF shareholders are expected to hold approximately 66.7 percent of the new entity. Southern shareholders will retain 23.3 percent, while DevvStream investors will hold the remaining 10 percent. The merger is pending regulatory approval and the completion of financing requirements.

The partnership represents an effort to diversify production methods within a nascent industry. XCF currently operates the New Rise Reno facility in Nevada, which uses fatty acid technology to produce up to 38 million gallons of fuel annually. Southern Energy contributes biomass-to-fuel expertise, focusing on projects that convert organic waste into carbon-negative fuels.

DevvStream provides the final piece of the structural puzzle by managing carbon credit origination. By integrating these environmental assets directly into fuel sales, the new company intends to streamline the monetization of carbon reductions.

The long-term strategy involves expanding into electro-SAF pathways. This includes using e-methanol-to-jet technology and exploring the use of small modular nuclear reactors to power future production. Management has set an annual revenue target exceeding one billion dollars, with a minimum of one hundred million dollars in core earnings after full integration.

This consolidation occurs as the aviation industry faces increasing regulatory and economic hurdles. Global SAF production currently meets less than 1 percent of total jet fuel demand. Meanwhile, United States federal tax credits for producers are scheduled to expire in 2027.

As airlines face stricter decarbonization mandates, the ability to operate at scale across multiple technology pathways is becoming a requirement for industrial survival. The success of this platform will depend on its ability to secure final financing and navigate a shifting policy landscape for renewable energy.