DevvStream enters binding term sheet for three-party merger with XCF Global and Southern

DevvStream Corp.

Binding term sheet signed for merger of DevvStream, XCF Global (Nasdaq: SAFX), and Southern Energy Renewables into combined low-carbon fuels platform.
Investor EEME commits $10M for XCF Common Stock to complete upgrades at New Rise Reno SAF refinery and fund operations.
Post-closing board: 4 XCF members (CEO Chris Cooper as chair), 2 from Southern, 1 from DevvStream.
Merger subject to definitive agreements, regulatory and stockholder approvals, and milestones: >$1B annual revenue, >$100M EBITDA.
Parties will evaluate integrating SMR nuclear power with eSAF and AI data center power as part of definitive agreements.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

DevvStream Corp. entered into Term Sheet with XCF Global, Inc., Southern Energy Renewables, Inc., and EEME Energy SPV I LLC (effective 2026-01-26).

Action: entry
Counterparty: XCF Global, Inc., Southern Energy Renewables, Inc., and EEME Energy SPV I LLC
Effective: 2026-01-26

Exact text from the filing

On January 26, 2026, DevvStream Corp., an Alberta corporation (the “Company”) entered into a binding term sheet (the “Term Sheet”) with XCF Global, Inc., a Delaware corporation (“XCF”), Southern Energy Renewables, Inc., a Louisiana corporation (“Southern”), and EEME Energy SPV I LLC (“EEME”), which sets forth the principal terms and conditions of a proposed business combination and related financing transactions (collectively, the “Proposed Transaction”).

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DevvStream Corp. filing history →

Source: SEC EDGAR

accession 0001140361-26-002310

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