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NEW YORK, Dec. 16, 2025 /PRNewswire/ — A report from MarketsAndMarkets said that the global sustainable fuel market in terms of revenue was estimated to be worth $193.8 billion in 2024 and is poised to reach $299.9 billion by 2029, growing at a CAGR of 9.1% from 2024 to 2029. Rising concerns about climate change, stringent government regulations to reduce carbon emissions and reduced dependency on fossil fuels are few of the factors accelerating the growth of sustainable fuel market. According to other industry data, the low-carbon fuels market is experiencing massive growth, with the overall sustainable/low-carbon fuel market projected from approximately USD 190-200 Billion (2024/2025) to over $300 Billion by 2029-2030, driven by biofuels and advanced fuels (especially SAF) with CAGRs often above 30-60%. Specific segments like Sustainable Aviation Fuel (SAF) could hit over $350B by 2035, while Carbon Capture (CCS) markets are forecast to reach $50B+ by the 2030s, highlighting significant investment and revenue potential across different low-carbon platforms. The MarketsAndMarkets report continued, saying: “The sustainable fuel market is expected to witness healthy growth during the review period due to growing demand for energy efficiency and transition towards renewable energy sources. Asia Pacific is expected to be the second largest market during the forecast period. Increasing adoption of alternative fuels to curb carbon emissions is anticipated to offer lucrative opportunities for market players in the next five years.” Active companies in the markets this week include DevvStream Corp. (NASDAQ: DEVS), XCF Global, Inc. (NASDAQ: SAFX), Gevo, Inc. (NASDAQ: GEVO), GE Vernova (NYSE: GEV), Brookfield Renewable Partners L.P. (NYSE: BEP).
MarketsAndMarkets continued: “Global economies’ efforts to diminish their carbon footprint and greenhouse gas emissions have spurred the adoption of clean and sustainable energy alternatives. The increasing energy demand driven by rapid industrialization and urbanization has further hastened the shift towards renewable energy sources. This transition has prompted economies to utilize renewable energy sources such as biomass, hydroelectric, and geothermal power. For instance, vehicles can utilize biofuels like ethanol and biodiesel, derived from renewable biomass sources such as corn, sugarcane, and soybeans. Similarly, hydrogen fuel cells can use green hydrogen, another renewable energy source. According to the International Energy Agency (IEA), biofuels and renewable electricity could reduce oil demand in the transportation sector by nearly 4 million barrels of oil equivalent per day by 2028. This reduction would help to limit the global carbon footprint and greenhouse gas emissions.”
DevvStream (NASDAQ:DEVS), Southern Energy, and XCF Global Announce Plan to Pursue Strategic Collaboration to Build Integrated Low-Carbon Fuels Platform and Advance Multi-Pathway SAF Strategy –
MOU outlines plans for the development of a unified commercial platform combining fuel supply, logistics, and environmental-attribute value for aviation and industrial customers –
DevvStream Corp.($DEVS) (“DevvStream”), Southern Energy Renewables Inc. (“Southern”), and XCF Global, Inc. (“XCF”) (Nasdaq: SAFX) today announced a non-binding tripartite memorandum of understanding (“MOU”) to jointly explore the potential development of a next-generation low-carbon fuels platform designed to accelerate sustainable aviation fuel (“SAF”) adoption, expand domestic capacity, and integrate environmental-attribute monetization into a unified customer offering.
By 2030, the U.S. SAF market is projected to reach nearly $7 billion, while global demand is expected to exceed 5.5 billion gallons, with ~4 billion people living in countries that utilize SAF for air transportation, driving the global market past ~$25 billion. Looking ahead to 2050, the global SAF market could exceed ~$250 billion. This collaboration is intended to position the parties with a unified platform that directly supports this long-term growth.
The goal of the collaboration is to increase long-term SAF supply across multiple production pathways, and to advance the transparency and commercialization of environmental attributes. As part of the negotiation of a binding agreement, the parties expect to evaluate the commercial viability of developing a HEFA-based “Gen 1” SAF facility in Louisiana alongside Southern’s previously announced biomass-based “Gen 2” SAF gasification facility.
Potential Unified Commercial Platform & Strategic Integration – The parties intend to negotiate a definitive collaboration agreement which, if executed, would create a collaborative venture that intends to develop a unified commercial platform that enables customers to procure fuel, logistics services, and environmental-attribute value through a single integrated offering. If developed, this structure would be expected to simplify procurement, improve pricing efficiency, and enhance long-term customer retention across the aviation and industrial markets.
Potential Environmental-Attribute Monetization and Digital Infrastructure – A core component of the potential collaboration is expected to be the integration of environmental-attribute capabilities, including voluntary and compliance carbon credits, CORSIA units, renewable energy certificates, digital MRV solutions, and tokenized environmental-attribute tracking systems. Under the MOU, DevvStream is expected to lead the generation, verification, and monetization of environmental assets associated with the potential platform’s low-carbon fuels.
The parties plan to work towards jointly evaluating solutions to help customers capture, verify, and monetize environmental attributes, including LCFS credits, RINs, and benefits under 45Z/45Q. The parties also plan to evaluate lifecycle analysis (“LCA”) methodologies and carbon-intensity optimization systems which may strengthen project economics and support high-integrity SAF development.
“This collaboration has the potential to create the foundation for a first-of-its-kind, fully integrated low-carbon fuels platform, linking production, logistics, and environmental-attribute systems into a seamless value chain,” said Chris Cooper, CEO of XCF. “If we succeed in combining Southern’s developmental stage biomass-to-methanol-to-jet technology, DevvStream’s environmental-attribute and digital MRV capabilities, and XCF’s HEFA production and commercial infrastructure, we see the potential to build a revolutionary end-to-end system that unlocks new value for customers and potentially accelerate the scaling of SAF in a disciplined, capital-efficient way.” Continued… Read this full release and additional news for DEVS by visiting: https://www.devvstream.com/news/news-releases/
Other recent developments in energy news sectors include:
XCF Global, Inc. (NASDAQ: SAFX); Southern Energy Renewables Inc. (“Southern”); and DevvStream Corp. (NASDAQ: DEVS) (together “the parties”) recently announced a non-binding tripartite memorandum of understanding (“MOU”) to jointly explore the potential development of a next-generation low-carbon fuels platform designed to accelerate SAF adoption, expand domestic capacity, and integrate environmental-attribute monetization into a unified customer offering.
By 2030, the U.S. SAF market is projected to reach nearly $7 billion, while global demand is expected to exceed 5.5 billion gallons, supporting a global market of more than $25 billion. By that time, approximately 4 billion people are expected to live in countries that utilize SAF for air transportation. Looking ahead to 2050, the global SAF market could exceed $250 billion. This collaboration is intended to position the parties around a unified platform that directly supports this long-term growth.
The collaboration would seek to increase long-term SAF supply across multiple production pathways while advancing the transparency and commercialization of environmental attributes. As part of the negotiation of a binding agreement, the parties expect to evaluate the commercial viability of developing a HEFA-based SAF facility in Louisiana.
Gevo, Inc. (NASDAQ: GEVO), a leader in renewable fuel and chemicals, and carbon management, recently announced a strategic leadership transition designed to position the company for continued growth and innovation. Effective December 9, 2025, Dr. Paul Bloom has been appointed President of Gevo, Inc. and a director on Gevo’s Board of Directors. Gevo’s long-standing Chief Executive Officer and board member, Dr. Patrick Gruber, has assumed the role of Executive Chair of the Board. Board Chairman William H. Baum has moved into the role of lead independent director. As part of the succession plan, Dr. Gruber will continue as Chief Executive Officer until his retirement on April 1, 2026, at which time Dr. Bloom will succeed Dr. Gruber as Chief Executive Officer.
“I am honored to be leading Gevo into its next phase of critical growth,” said Dr. Bloom. “Our team is committed to delivering cost-effective fuels, chemicals, and carbon management solutions that create value for our customers and shareholders. Pat’s vision and dedication have established Gevo as a global leader in our industry. My focus will be on increasing profitability from our active businesses while leveraging our technology, business system, and intellectual-property portfolio to accelerate Gevo’s growth.”
GE Vernova (NYSE: GEV) recently announced its first onshore wind repower upgrade agreement outside the United States, signing with Taiwan Power Company (TPC) to supply 25 repower upgrade kits in Taiwan. The announcement was made during the B20 South Africa 2025 Summit in Johannesburg. The milestone international contract builds on GE Vernova’s track record of repowering over 6,000 wind turbines in the United States, extending that expertise to support Taiwan’s decarbonization goals.
Under the agreement, GE Vernova will provide repower upgrade kits to repower 25 GE Vernova 1.5 MW‑70.5m turbines and deliver a five‑year operations and maintenance (O&M) services package. The order was booked in the third quarter of 2025. Initial components are scheduled for delivery in the fourth quarter of 2025, with retrofit installation taking place throughout 2026 and 2027.
Wind repowering enables turbines approaching the end of their designed operational life to be modernized and returned to service with improved reliability and performance. By extending asset life beyond original design life, the project will help TPC continue generating affordable, renewable electricity while maximizing existing infrastructure.
Brookfield Renewable Partners L.P. (NYSE: BEP) recently announced an equity offering of its limited partnership units (“LP Units”) for gross proceeds of US$450 million (the “Offering”) on a bought deal basis by a syndicate of underwriters (the “Underwriters”) co-led by RBC Capital Markets, Scotiabank, TD Securities, BMO Capital Markets and CIBC Capital Markets. The LP Units are offered at a price of US$29.90 per LP Unit (the “Offering Price”).
Concurrently, one or more subsidiaries of Brookfield Corporation will purchase US$200 million of LP Units at the Offering Price (net of underwriting commissions) (the “Concurrent Private Placement”). “In addition to the continued growth of our wind and solar business, we continue to see accretive opportunities to invest in essential baseload power generation and grid-stabilizing technologies, including hydro, nuclear, and energy storage. Recently, we increased our stake in a leading South American hydro business, signed a 3-gigawatt hydro framework agreement with Google and entered into a transformational partnership with the U.S. Government that should accelerate deployment of Westinghouse’s leading reactor technology in the U.S. and abroad. Today, we see opportunities to accelerate our investment both into baseload power and across our platform, which we expect to drive growth for our business over the long term,” said Connor Teskey, CEO of Brookfield Renewable. The aggregate gross proceeds of the Offering and the Concurrent Private Placement will be approximately US$650 million.
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