DevvStream shares surge 15.79% intraday after signing term sheet to expand biomass-to-fuels collaboration with Southern and Frontline, securing exclusive carbon credit role.

DevvStream surged 15.79% intraday after announcing a term sheet with Southern Energy Renewables and Frontline BioEnergy to expand its biomass-to-fuels collaboration in Louisiana. The agreement positions DevvStream as the exclusive carbon credit and environmental-asset manager for Southern’s projects, while Frontline will develop pilot-scale methanol and methanol-to-hydrocarbons units. Southern will fund $2.05 million for the project, and the collaboration aligns with a potential three-party merger with XCF Global. The deal advances technical validation for Southern’s commercial pathway, strengthens DevvStream’s role in environmental-asset monetization, and supports long-term scalability, directly driving investor optimism.