The project is expected to create 514 new job opportunities in the Southeast Region.

The flagship project expands U.S. energy innovation to support growing global demand for lower-cost transportation fuels.

Commercial operations are expected to begin in late 2029.

KILLONA, LA / ACCESS Newswire / March 13, 2026 / Southern Energy Renewables announced it will invest $1.4 billion to develop a green methanol and sustainable aviation fuel (SAF) production facility that will convert the region's abundant wood-waste biomass into some of the lowest lifecycle-carbon fuels on the market, leveraging Louisiana's established energy infrastructure, innovation ecosystem and skilled workforce.

The company is expected to create 120 direct new jobs with an average salary of $97,267, which is 5% above the average St. Charles Parish wage. Louisiana Economic Development estimates the project will result in an additional 394 indirect new jobs, for a total of 514 potential new job opportunities in the Southeast Region.

"Louisiana's energy leadership is rooted in our ability to couple emerging technologies alongside the industries that have long powered our state," LED Secretary Susan B. Bourgeois said. "Southern Energy Renewables' plans build on that strength by bringing advanced fuel production and high-quality jobs to St. Charles Parish. This project expands the scope of our energy sector and reinforces Louisiana's role in the nation's energy dominance."

The new production facility located near hydrogen supply and key logistics infrastructure is Southern's first commercial-scale development in Louisiana as it prepares for a proposed merger with DevvStream, a carbon management and monetization firm.

"Louisiana is a vital partner in advancing our production model that includes the conversion of regional wood-waste biomass sourcing, fuel production, and aviation and maritime offtake to create a first-of-its-kind platform with the potential to compete on a global stage and reduce the global reliance on China for clean fuels," Southern Energy Renewables CEO Jay Patel said. "With support from LED and other local partners, our roadmap is built to deliver fuels at an industrial scale with a clear cost advantage, while creating new jobs, expanding the local economy, and strengthening America's energy leadership to meet growing demand."

Southern Energy Renewables is a U.S.-based developer of biomass-to-fuels projects. The St. Charles Parish facility represents the company's first commercial-scale development in Louisiana.

"We are excited to welcome Southern Renewable Energy to St. Charles Parish," St. Charles Parish President Matthew Jewell said. "Projects like this continue to demonstrate the industry's confidence in our community, our workforce, and our strategic location along the Mississippi River. This investment will continue to strengthen our economy, support job creation, and ensure our parish remains a leader in alternative fuel and energy production."

Pre-construction planning and site development activities on the project are underway. Construction is expected to begin in late 2027 with production anticipated in late 2029.

"Louisiana has the assets to lead the next era of energy, and Southern Energy Renewables is proof," President and CEO of Greater New Orleans, Inc. Michael Hecht said. "This remarkable project builds on the state's industrial strengths, skilled workforce, and global logistics assets to bring a first-of-its-kind sustainable jet fuel and methanol facility to St. Charles Parish. It will create high-wage jobs while advancing lower-carbon fuels that help modernize the aviation industry."

To win the project in St. Charles, the state of Louisiana offered Southern Energy Renewables a competitive incentives package that includes the comprehensive workforce development solutions of LED FastStart and a $1 million performance-based grant for infrastructure improvements. The company is also expected to participate in the state's Industrial Tax Exemption program.

Register here to be notified about Southern Energy Renewables job opportunities, hiring events and news updates. Louisiana companies, make sure your business is registered at SourceLouisiana.com to enter the pipeline for contract and vendor opportunities with development projects statewide.

MEDIA CONTACTS:

Jay Patel, Southern Energy Renewables Chief Executive Officer
jkp@southernenergyrenew.com
916.835.6306

Emma Wagner, LED Communications Director
Emma.Wagner@la.gov
912.467.2117

Jacey Wesley, LED Strategic Communications Manager
Jacey.Wesley@la.gov
225.342.5536

About LED
Louisiana Economic Development is responsible for driving capital investment, job creation and economic opportunity for the people of Louisiana and employers of all sizes. Explore how LED is positioning Louisiana to win at OpportunityLouisiana.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 Southern Energy Renewables Inc.
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 in development and designed to produce carbon-negative SAF and green methanol, supported by integrated carbon capture and sequestration.

To learn more, visit www.southernenergyrenew.com.

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. 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.

SOURCE: Southern Energy Renewables Inc.