Why Did DEVS Stock Surge 30% In Pre-Market Today?
Synopsis
DevvStream‘s proposed business combination partner, Southern Energy Renewables, is set to invest $1.4 billion to build a methanol and aviation fuel plant
Summary: DevvStream‘s proposed business combination partner, Southern Energy Renewables, is set to invest $1.4 billion to build a methanol and aviation fuel plant.
Shares of DevvStream Corp. (DEVS) surged 30% in pre-market trading on Friday after its proposed business combination partner, Southern Energy Renewables, announced a $1.4 billion investment to develop a green methanol and sustainable aviation fuel production facility in Louisiana.
Planning and site development are currently underway, with construction expected to start in late 2027 and production targeted in late 2029, Southern Energy said. The project is expected to create 120 new direct jobs.
DevvStream and Southern Energy signed a business combination agreement last December, with completion expected in the first half of 2026.
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