Recent Updates — SAFX
XCF Global entered into an Asset Purchase Agreement to acquire a sustainable aviation fuel production facility in Paramount, California, from Air Products Manufacturing LLC. The transaction involves a $10 million cash payment at closing plus a $50 million base amount payable over 36 months, subject to adjustments for early repayment and interest accrual after two years. XCF intends to restart operations within 9-12 months, investing approximately $30 million in workforce training and operational readiness. The facility is expected to add ~50 million annual gallons of production capacity for sustainable aviation fuel, renewable diesel, and renewable naphtha. XCF Global operates as a U.S.-based producer of renewable diesel and sustainable aviation fuel.
XCF Global completed its all-stock business combination with Southern Energy Renewables and DevvStream on October 16, 2026. Former shareholders of Southern Energy and DevvStream now hold approximately 20% and 10.43%, respectively, of XCF’s outstanding common stock, resulting in approximately 596 million shares outstanding. The transaction creates a vertically integrated alternative energy platform combining renewable fuel production with environmental-asset monetization. Concurrently, the company appointed Wray Thorn as President and Chief Financial Officer, effective October 19, 2026, succeeding Harvey Schnitzer who transitions to Director of Integration. XCF Global is a U.S.-based producer of renewable diesel and sustainable aviation fuel focused on decarbonizing transportation.
At a special meeting on October 5, 2026, XCF Global stockholders approved Proposal 1 to increase the authorized number of Class A Common Stock shares from 500 million to 1.7 billion. The company filed the certificate of amendment with the Delaware Secretary of State on the same date, making it effective immediately. Shareholders also approved a potential business combination agreement and elected seven directors to the post-closing board. XCF Global operates in the energy sector.
On September 14, 2026, XCF Global, Inc. entered into an At the Market Sales Agreement with Roth Capital Partners and H.C. Wainwright to offer up to $100 million of its Class A common stock. The company will pay agents a commission of up to 3.0% on gross proceeds and reimburse legal fees capped at $75,000 plus $7,500 quarterly. Net proceeds are intended for working capital and general corporate purposes. XCF Global operates in the cannabis industry.
XCF Global, Inc., DevvStream Corp., and Southern Energy Renewables Inc. entered into Amendment No. 1 to their Business Combination Agreement on September 14, 2026. The amendment adjusts merger consideration so former Southern Energy shareholders will hold approximately 20% of the combined entity (down from 23.3%), while DevvStream shareholders will hold approximately 10.43% (up from 10.0%). Existing XCF Global stockholders will retain approximately 69.57%. The amendment deletes several closing conditions, including minimum capitalization, investment bank engagement, revenue run-rate thresholds of $1 billion and $100 million EBITDA, Nasdaq Sweden listing approval, and HSR Act clearance. Closing is conditioned on a concurrent $1,000,000 investment by GL PART SPV I LLC via the company's warrant program at $2.50 per share. Post-closing, EEME and GL commit to funding at least $4,373,000 within three months and up to $50,000,000 within twelve months. The special meeting of stockholders was postponed from September 10 to September 24, 2026, to allow review of the amendment. XCF Global operates in the renewable energy sector, focusing on blended fuel products and plant conversion technologies.