XCF Global shares rise 12.60% premarket after announcing merger with DevvStream and Southern Energy Renewables to boost SAF production and secure refinery funding.

XCF Global Inc. surged 12.60% in premarket trading following the announcement of a binding merger agreement with DevvStream and Southern Energy Renewables. The deal aims to accelerate sustainable aviation fuel (SAF) production, with a focus on expanding XCF’s New Rise Reno refinery to 38 million gallons annually and developing a low-carbon fuel platform. An investor’s commitment to fund upgrades further supports the strategic alignment with clean energy goals. This merger is expected to enhance XCF’s market competitiveness and shareholder returns, directly correlating with the stock’s upward movement. Other news items, including prior closing price declines and unrelated silver market updates, were irrelevant to the premarket rally.