DevvStream Corp. and Southern Energy Renewables are joining forces to create a new U.S.-domiciled, Nasdaq-listed company focused on producing carbon-negative sustainable aviation fuel (SAF) and green methanol at scale.
The combination aims to meet the increasing global demand for clean fuels by leveraging carbon-credit expertise and lower-cost fuel production techniques.
Southern Energy Renewables secured a $402 million bond allocation from the Louisiana Community Development Authority to support its biomass-to-fuel facility in Louisiana.
Impact on Aviation and Maritime Operators
The new company plans to help operators comply with global mandates by producing carbon-negative SAF and green methanol using domestic feedstock and workforce.
Financial Investment
Southern Energy Renewables made an initial $2.0 million PIPE investment in DevvStream at $15.58 per share, recognizing the strategic value of carbon-monetization business.
Leadership and Name Change
The combined company will be led by Carl Stanton as CEO and operate under the name Southern Energy Renewables, reframing DevvStream as an industrial fuels and credits business.
- The business combination aims to reduce the cost burden of alternative fuels, enabling wider adoption among aviation and maritime operators.
- Louisiana's support and strategic advantages in feedstock availability and workforce create a competitive platform for long-term growth and market expansion.
The merger between DevvStream and Southern Energy Renewables holds promises for accelerating the production of carbon-negative fuels, addressing the challenges faced by the aviation and maritime industries in meeting decarbonization mandates.