DevvStream Corp. ("DevvStream"), Southern Energy Renewables Inc. ("Southern"), and XCF Global, Inc. ("XCF") announced a non-binding tripartite memorandum of understanding ("MOU") to jointly explore the potential development of a next-generation low-carbon fuels platform designed to accelerate sustainable aviation fuel ("SAF") adoption, expand domestic capacity, and integrate environmental- attributes into a unified customer offering. By 2030, the U.S. SAF market is projected to reach nearly $7 billion, while global demand is expected to exceed 5.5 billion gallons, with 4 billion people living in countries that utilize SAF for air transportation, driving the global market past $25 billion.
Looking ahead to 2050, the global SAF market could exceed $250 billion. This collaboration is intended to position the parties with a unified platform that directly supports this long-term growth. The goal of the collaboration is to increase long-term SAF supply across multiple production pathways, and to advance the transparency and commercialization of environmental attributes.
As part of the negotiation of a binding agreement, the parties expect to evaluate the commercial viability of developing a HEFA-based "Gen 1" SAF facility in Louisiana alongside Southern's previously announced biomass-based "Gen 2" SAF gasification facility. The parties intend to negotiate a definitive collaboration agreement which, if executed, would create a collaborative venture that intends to develop a unified commercial platform that enables customers to procure fuel, logistics services, and environmental- attributes through a single integrated offering. If developed, this structure would be expected to simplify procurement, improve pricing efficiency, and enhance long-term customer retention across the aviation and industrial markets.
A core component of the potential collaboration is expected to be the integration of environmental- attributes, including voluntary and compliance carbon credits, CORSIA units, renewable energy certificates, digital MRV solutions, and tokenized environmental- attributes. Under the MOU, DevvStream is expected to lead the generation, verification, and monetization of environmental assets associated with the potential platform's low-carbon fuels. The parties plan to work towards jointly evaluating solutions to help customers capture, verify, and monetize environmental attributes, including LCFS credits, RINs, and benefits under 45Z/45Q.
The parties also plan to evaluate lifecycle analysis ("LCA") methodologies and carbon-intensity optimization systems which may strengthen project economics and support high-integrity SAF development.
