The Fort Worth Press - Southern Energy Renewables and Axens Sign Memorandum of Understanding to Advance SAF Projects in Louisiana and Beyond

NEW ORLEANS, LA / ACCESS Newswire / March 13, 2026 / 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 Southern and Axens have signed a memorandum of understanding ("MoU") to collaborate on the development of sustainable aviation fuel ("SAF") and related fuel projects, with an initial focus on Southern's planned biomass‑to‑fuel facility in Louisiana.

Axens is a global provider of process technologies, equipment, catalysts, and services for the conversion of oil and biomass into cleaner fuels, renewable fuels and bio‑based chemicals, natural gas treatment, and carbon capture solutions. The company's portfolio includes more than 3,000 industrial units under license worldwide and a full suite of solutions from feasibility studies through unit start‑up and lifecycle support.

Under the MoU, Southern is responsible for leading overall project development, including site work, permitting, feedstock and offtake engagement, and coordination with local stakeholders. Axens is slated to serve as licensor‑of‑record for key technologies across the value chain, including CO₂ capture and conditioning and SAF production technologies, with the goal of advancing a de‑risked, bankable pathway from regional biomass to low‑carbon fuels. The parties expect to focus first on the Louisiana facility, then evaluate additional opportunities in other regions as appropriate.

In parallel with the Axens collaboration, Southern has created an experimental digital token referred to as "$SAF." The current concept is to use $SAF over time as a data layer that helps track and visualize production from Southern's facilities, starting with limited use at the pilot plant and, subject to further development and approvals, extending to the flagship Louisiana project. The framework is intended to link token issuance and retirement to measured output and associated operational data, with the goal of improving traceability around SAF production and providing an additional lens on process performance and optimization, without changing how the underlying fuels are produced, sold, or accounted for.

"Our strategic alliance with Axens is an important step in our mission to support the United States in strengthening its energy leadership and advancing synthetic fuels," said Nevin Smalls, Chief Strategy Officer of Southern Energy Renewables. "Axens brings a complete, proven suite of technologies from CO₂ capture through SAF production, together with deep experience executing projects around the world. The best part is we are providing a solution that will compete globally that provides synthetic aviation fuel at jet parity without subsidies.

"We are providing to Southern Energy Renewables a complete suite of technologies from the capture of CO₂ until the production of SAF to remove technology risk from the equation," said David Schwalje, VP of Emerging Market Development at Axens. "We plan to share our extensive knowledge and experience in project development, gathered from projects developed worldwide in the emerging SAF and CO₂ spaces. We believe in collaboration, and that partnering spirit is key to navigating the first phases of the project all the way to the operation of the plant. Together, we can turn technology and commercial innovation into industrial reality."

The MoU is non‑binding and outlines the framework for cooperation between Southern and Axens. Specific projects, contractual terms, and implementation steps remain subject to further negotiation, due diligence, and approvals by the parties and, where applicable, by regulators and financing partners. Nothing in this announcement is, or should be construed as, an offer to sell or a solicitation of an offer to buy $SAF or any other digital asset.

No Offer or Solicitation

This communication is for informational purposes only and is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy any securities.

Cautionary Note Regarding Forward-Looking Statements

This communication contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act that involve substantial risks and uncertainties including statements regarding the development of Southern's proposed SAF plant, Southern's ability to produce and sell SAF in commercial quantities, and Southern's ability to obtain financing in order to develop its SAF plant.

Forward-looking statements concern future circumstances and results and other statements that are not historical facts and are sometimes identified by words such as "aim," "may," "will," "should," "potential," "intend," "expect," "endeavor," "seek," "anticipate," "estimate," "overestimate," "underestimate," "believe," "plan," "could," "would," "project," "predict," "continue," "target," "objective," "goal," "designed," or the negatives of these words or other similar expressions that concern Southern's expectations, strategy, priorities, plans, or intentions. Forward-looking statements are based upon current plans, estimates, expectations, and assumptions that are subject to risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ materially from those expressed or implied by such forward-looking statements.

We can give no assurance that such plans, estimates, or expectations will be achieved, and therefore, actual results may differ materially from any plans, estimates, or expectations in such forward-looking statements.

Forward-looking statements are based on current expectations, estimates, assumptions and projections and involve known and unknown risks and uncertainties that may cause actual results, developments or outcomes to differ materially from those expressed or implied by such statements. Important factors that could cause actual results, developments or outcomes to differ materially include, among others: (1) changes in domestic and foreign business, market, financial, political, regulatory and legal conditions; (2) the risk that Southern's SAF plant development is delayed, not completed on the anticipated timeline, or requires additional capital beyond current expectations; (3) the risk that Southern does not obtain sufficient financing to develop the plant; (4) the inability of the parties to agree on mutually acceptable definitive agreements; (5) the occurrence of events, changes or other circumstances that could give rise to the termination of the MoU or any related negotiations, or that could result in disputes or litigation relating to the interpretation, enforceability or performance of the MoU; and (6) other economic, business, competitive, operational or financial factors beyond management's control.

The MoU does not obligate the parties to consummate any transaction. The consummation of the proposed transaction remains subject to the negotiation, execution and delivery of definitive agreements. There can be no assurance that any definitive agreements will be entered into or that the proposed transaction will be consummated on the terms described herein or at all.

Any forward-looking statements speak only as of the date of this communication. Southern does not undertake any obligation to update any forward-looking statements, whether as a result of new information or developments, future events, or otherwise, except as required by law. Neither future distribution of this communication nor the continued availability of this communication in archive form on Southern's website should be deemed to constitute an update or re-affirmation of these statements as of any future date.

Notice Regarding DevvStream Corp.

DevvStream Corp. (NASDAQ:DEVS) has authorized the use of its name in this press release solely in connection with a previously announced proposed transaction involving DevvStream, details of which are described in DevvStream's filings with the U.S. Securities and Exchange Commission. DevvStream is not a party to the Memorandum of Understanding between Southern and Axens described herein, and its inclusion in this communication does not constitute an endorsement of, or any representation regarding, the Southern-Axens collaboration or any related matters. Certain statements in this press release that reference DevvStream may constitute forward-looking statements within the meaning of applicable securities laws; such statements are subject to risks and uncertainties that could cause actual results to differ materially, and investors are urged to review DevvStream's SEC filings, available at www.sec.gov and at www.devvstream.com/investors/, for a description of those risks. This communication does not constitute an offer to sell or a solicitation of an offer to buy any securities of DevvStream.

About Southern Energy Renewables

Southern Energy Renewables Inc. is a U.S.-based clean fuels, chemicals and products developer focused on advancing large-scale biomass-to-fuels projects. These projects are designed to produce carbon-negative SAF and green methanol, supported by integrated carbon capture and sequestration.

Visit southernenergyrenew.com for more information.

To learn more, visit www.southernenergyrenew.com.

About DevvStream (NASDAQ:DEVS)
DevvStream Corp. (NASDAQ:DEVS) is a carbon management company focused on the development, investment, and sale of environmental assets worldwide, including carbon credits and renewable energy certificates.

To learn more, visit www.devvstream.com.

About Axens
The Axens Group (www.axens.net) offers a complete range of solutions for the conversion of oil and biomass into cleaner fuels, the production and purification of major petrochemical intermediates, the chemical recycling of plastics, natural gas treatment and conversion options, water treatment and carbon capture. Their offer includes technologies, equipment, furnaces, modular units, catalysts, adsorbents and related services. Axens is ideally positioned to cover the entire value chain, from feasibility studies to start-up and monitoring of units throughout their lifecycle. This unique position guarantees optimum performance and a reduced environmental footprint. Axens' international offering is based on highly qualified human resources, modern production facilities and an extensive global network for industrial, technical support and sales services. Axens is an IFP Energies Nouvelles Group company.
To find out more, visit our website, and follow us on LinkedIn.

SOURCE: Southern Energy Renewables Inc.

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L.Holland--TFWP