XCF Global, Inc. (NASDAQ:SAFX) has appointed Major General John F. Wharton (U.S. Army, Ret.), Carl Stanton and Chad Langley to its Board following the completion of the company’s business combination with DevvStream Corp. and Southern Energy Renewables Inc.
The appointments were announced on November 5, 2026. XCF Global said the directors add experience in logistics, energy security, private equity, capital markets, mergers and acquisitions, institutional investing and corporate governance.
#New directors join seven-member Board
Under the Business Combination Agreement, Southern Energy designated General Wharton and Mr. Langley, while DevvStream designated Mr. Stanton. Carter McCain left the Board in connection with the closing.
The reconstituted Board has seven members: Chairman and Chief Executive Officer Chris Cooper, Lead Independent Director Si-Yeon Kim, President and Chief Financial Officer Wray Thorn, Sanford A. Cockrell III, General Wharton, Mr. Stanton and Mr. Langley.
XCF Global said the Board’s combined experience is intended to support the integration of its businesses, renewable fuel production activities, capital allocation and oversight.
#Background of the appointees
General Wharton has worked in logistics, global supply chains, research and development, energy security and technology deployment. In his final military assignment, he served as Commanding General of the U.S. Army Research, Development and Engineering Command, overseeing 13,800 scientists, engineers and support personnel at more than 100 locations worldwide.
He previously commanded U.S. Army Sustainment Command and Rock Island Arsenal, overseeing an organisation of more than 65,000 Soldiers, civilians and contractors. He is also a Senior Advisor at The Chertoff Group, where he advises on national security, energy, critical infrastructure and global supply chains.
Mr. Stanton brings three decades of private equity and alternative asset management experience. He is currently a Senior Partner at Avance Investment Management and previously held senior roles at Invesco Private Capital and Wellspring Capital Management. He has served on the boards of more than 15 portfolio companies.
Mr. Langley is a corporate attorney and finance professional whose background includes private capital markets, cross-border mergers and acquisitions and institutional investing. He previously served as a Managing Director at AlTi Global, Inc. and as Chief Executive Officer of its U.S. broker-dealer.
#XCF Global’s renewable fuels platform
XCF Global describes itself as a U.S.-based renewable energy company focused on lower-carbon fuels and environmental solutions. Following its combinations with DevvStream and Southern Energy, the company is seeking to build a platform spanning renewable fuels, carbon management and environmental assets.
Its New Rise Renewables Reno facility produces renewable diesel and has a permitted nameplate production capacity of up to 38 million gallons per year. XCF Global is also seeking to advance potential expansion opportunities in Nevada, North Carolina and Florida.
The company said those opportunities remain subject to feasibility assessments, financing, regulatory approvals and market conditions. It also said its plans involve risks related to integrating New Rise, Southern Energy and DevvStream, raising financing, maintaining Nasdaq’s continued listing standards and implementing its business plan.
#Risks and outstanding matters
XCF Global identified additional risks involving the New Rise Reno facility’s production, disputes concerning the facility’s ground lease and loans, legal proceedings, offtake arrangements, regulatory requirements, operating costs, tax credits and other government support.
The company also cited risks associated with dilution from shares issued in the business combination, intellectual property, the costs of operating as a public company and the possibility that letters of intent or memoranda of understanding may not progress to definitive agreements or commercial deployment. Further risks and uncertainties apply, including broader economic, business and competitive factors.
#Key Takeaways
- XCF Global appointed Major General John F. Wharton, Carl Stanton and Chad Langley to its Board.
- The appointments followed completion of the company’s business combination with DevvStream and Southern Energy.
- The three directors bring experience in military logistics, energy security, private equity, capital markets and mergers and acquisitions.
- Carter McCain stepped down, leaving XCF Global with a seven-member Board.
- XCF Global’s New Rise Renewables Reno facility has a permitted nameplate production capacity of up to 38 million gallons per year.
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