DevvStream And Southern Energy Secure Louisiana Community Development Authority Approval For $402M Biomass-To-Fuel Facility Project

Step strengthens Louisiana's role in U.S. energy leadership and advances project finance process for biomass‑to‑fuel facility

DevvStream Corp. (NASDAQ:DEVS) ("DevvStream"), a leading carbon management and environmental-asset monetization firm, and Southern Energy Renewables Inc. ("Southern"), a U.S.-based producer of low-cost fuels made from biomass, with a flagship Louisiana project that plans to utilize regional wood-waste biomass to deliver green methanol and carbon-negative sustainable aviation fuel ("SAF") at scale, today announced that the Louisiana Community Development Authority ("LCDA") has approved a resolution authorizing the issuance, subject to further approvals, of up to $402 million of Louisiana Local Government Environmental Facilities and Community Development Authority Revenue Bonds in support of Southern's planned biomass‑to‑fuel facility in Louisiana.

The facility is designed to use regional wood‑waste biomass and proven conversion technologies, together with integrated carbon capture, to produce methanol and carbon‑negative SAF at commercial scale. By anchoring this investment in Louisiana, Southern aims to strengthen U.S. energy leadership with a "made in America" supply of advanced fuels that can serve both domestic and international markets, while supporting jobs and industrial activity in a state that has long been central to the nation's energy economy.

The LCDA approval represents an important milestone in the conventional project‑finance process. It permits Southern, working through LCDA as a conduit issuer, to seek an allocation of "volume cap" from the Louisiana State Bond Commission in the same $402 million amount. The volume‑cap request is currently scheduled for the week of December 15, 2025. At this time, no allocation of volume cap has been made; the final step is expected to be an Executive Order from the Governor of Louisiana, which is currently anticipated in January 2026. Until an Executive Order allocating volume cap is issued and bonds are actually sold, the LCDA approval does not represent committed funding, but Southern and DevvStream believe it does demonstrate meaningful progress toward a conventional U.S. project‑finance structure for the planned biomass‑to‑fuel facility.