As previously disclosed, XCF, Southern Energy Renewables and DevvStream have entered into a definitive business combination agreement to create an integrated energy transition platform spanning sustainable aviation fuel, green methanol and environmental attribute monetization, subject to customary closing conditions.

XCF believes Southern's LOI with Hapag-Lloyd points to rising demand from global shipping and logistics customers for lower-carbon fuel options backed by long-term supply planning and infrastructure development. While the LOI is nonbinding and remains subject to further negotiations and conditions, the announcement reflects the type of commercial opportunity the combined company would seek to pursue if the transaction is completed.

"The Southern-Hapag-Lloyd LOI reflects the kind of customer demand and long-range decarbonization planning that helped shape our decision to pursue this transaction," said Chris Cooper, CEO of XCF Global. "If completed, the combination would bring together capabilities across fuels, infrastructure and environmental markets, giving customers a more practical way to access lower-carbon solutions at scale."

Under the proposed transaction, the combined company would connect low-carbon fuel production, including SAF and green methanol, with environmental attribute monetization, commercial offtake development and infrastructure investment. XCF said that approach could give airlines, shipping companies and other corporate customers more flexibility as they respond to regulatory requirements, energy security needs and sustainability goals.

The proposed business combination remains subject to shareholder approvals, regulatory clearances and other customary closing conditions, and there can be no assurance it will be completed on the terms currently contemplated, or at all.