DevvStream shares surge 12.82% premarket after agreeing to three-party merger with XCF Global and Southern Energy Renewables.

DevvStream (DEVS) surged 12.82% in premarket trading following the announcement of a binding term sheet to merge with XCF Global and Southern Energy Renewables in a three-party transaction. The proposed merger aims to create an integrated low-carbon fuels platform combining XCF’s sustainable aviation fuel production, Southern’s biomass feedstock expertise, and DevvStream’s environmental-asset monetization capabilities. The transaction, subject to board approvals and definitive agreements, is expected to accelerate commercialization of SAF through expanded production capacity and integrated environmental credit strategies. XCF’s CEO highlighted the potential to solidify its position as a leading SAF producer, while DevvStream’s CEO emphasized the strategic alignment of U.S.-based scale, speed-to-market, and environmental attribute integration. The merger’s focus on decarbonization and market expansion in the aviation sector likely drove immediate investor optimism, aligning with the stock’s sharp premarket rise.