Louisiana authority approves $402M bond resolution for Southern biomass-to-fuel project

DevvStream Corp.

LCDA approved resolution authorizing up to $402M in revenue bonds for Southern's biomass-to-fuel facility in Louisiana.
Bonds are limited obligations payable from project revenues, not state general funds; final terms set at issuance.
Next steps: volume cap request with Louisiana State Bond Commission week of Dec 15, 2025; Governor's order anticipated Jan 2026.
Project will use regional wood-waste biomass to produce green methanol and carbon-negative sustainable aviation fuel.
Authorization advances project finance for Southern's facility; DevvStream and Southern previously announced business combination.

item 8.01 item 9.01

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