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Highlights

  • DevvStream acquires 50% stake in Monroe Sequestration Partners, targets CO2 sequestration in Louisiana
  • $1 billion biomass-to-fuel facility planned in Louisiana, producing methanol and sustainable aviation fuel
  • Partnership to generate carbon credits and meet global decarbonization mandates in aviation and maritime

DevvStream Corp. (NASDAQ: DEVS), a carbon management firm, announced that its subsidiary Monroe Sequestration Partners has entered a collaboration agreement with Southern Energy, a clean fuels company. This partnership focuses on the development of a $1 billion biomass-to-fuel facility in Louisiana that will produce low-carbon methanol and sustainable aviation fuel (SAF). Under the agreement, Monroe will provide permanent CO2 sequestration services through its Class VI storage site, which is expected to be operational by 2027. Southern Energy plans to capture emissions from the biomass-to-fuel facility, with production targeting 2028.

This collaboration aims to generate high-quality carbon credits, supporting the aviation and maritime industries’ decarbonization efforts. The facility will benefit from its location within the Southern Wood Basket in North Louisiana, the largest biomass-producing region in North America, providing secure access to sustainably sourced feedstock.

The agreement also reflects DevvStream’s ongoing focus on advancing carbon removal solutions and supporting the creation of monetizable environmental assets. DevvStream anticipates entering into further binding agreements with Southern Energy during Q2 2025, based on the terms outlined in the current collaboration.

Southern Energy’s planned biomass-to-fuel facility will leverage proven syngas technology and a large-scale feedstock strategy, resulting in exceptionally low carbon intensity scores. The project is also expected to generate 45Q tax credits, further enhancing its financial viability.