XCF Global Inc. (NASDAQ: SAFX) stock rose in Monday's premarket trading after the renewable fuel producer completed its merger with Southern Energy Renewables and DevvStream and raised its 2027 financial outlook.
The company also provided an operational update following recent stock volatility, highlighting rising fuel production and revenue at its Reno facility.
XCF Global's session volume reached 87.20 million shares, approximately 22.7 times its 100-day average volume of 3.84 million shares, signaling unusually heavy trading activity.
XCF Completes Merger, Raises 2027 Outlook
On Friday, XCF announced the completion of its all-stock business combination with Southern Energy Renewables and DevvStream. Both companies now operate as wholly owned subsidiaries of XCF.
Following the merger, former Southern shareholders own approximately 20% of XCF, while former DevvStream shareholders hold about 10.43%.
As part of the transaction, Chad Langley, John Wharton and Carl Stanton joined XCF's board of directors, while Carter McCain stepped down.
The deal combines renewable fuel production, biomass conversion technology and carbon credit management under one platform.
Southern adds gasification technology designed to convert lower-cost biomass into fuel. Meanwhile, DevvStream brings expertise in monetizing carbon credits, renewable fuel incentives and other environmental assets.
XCF CEO Chris Cooper said the combination expands the company's renewable fuel capabilities and supports its strategy to improve energy security and develop new uses for agricultural waste.
The company now targets 2027 gross product sales of $650 million to $700 million, net revenue of $120 million to $130 million and EBITDA of $70 million to $75 million.
Looking further ahead, XCF outlined 2030 targets exceeding $1.4 billion in annual gross product sales, $400 million in net revenue and $300 million in EBITDA.
Reno Production Gains Momentum
In a separate shareholder update Friday, Cooper addressed the company's recent stock decline and outlined progress at its Reno renewable fuel facility.
XCF reported more than $10 million in August revenue and over $12 million in September gross product sales.
Daily production also reached approximately 85,000 gallons by the end of September.
The Reno facility has a permitted annual production capacity of 38 million to 40 million gallons.
Despite the operational improvements, Cooper acknowledged that XCF must translate production growth into sustainable profitability and stronger financial performance.
He emphasized disciplined capital allocation, responsible management of the company's capital structure and measurable operating results as key priorities.
The company also expects expanding low-carbon fuel programs across U.S. states to support demand for renewable fuels.
SAFX Price Action
SAFX Price Action: XCF Global shares were up 32.50% at $0.18 during premarket trading on Monday, according to market data.
