DevvStream shares surge 21.03% intraday after LCDA authorizes $402M in bonds for Louisiana biomass-to-fuel project with Southern Energy Renewables.

DevvStream surged 21.03% intraday following the Louisiana Community Development Authority’s (LCDA) approval of up to $402 million in revenue bonds for its biomass-to-fuel facility in partnership with Southern Energy Renewables. The LCDA authorization marks a critical step in securing non-recourse financing for the project, which aims to produce carbon-negative sustainable aviation fuel and green methanol at scale. The collaboration leverages DevvStream’s environmental-asset capabilities and Southern’s biomass conversion technologies, positioning the firm to capitalize on U.S. energy leadership and decarbonization trends. The news reinforced investor confidence in the project’s conventional finance structure and long-term viability, aligning with the stock’s sharp intraday rally.