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XCF Global CEO Chris Cooper wrote to shareholders acknowledging concern over the recent share price decline and volatility, saying short-term market moves are outside the company’s control. He said the Reno facility has moved from development into commercial operations, with more than $10 million in revenue for August, over $12 million in gross product sales for September, and daily production reaching about 85,000 gallons by the end of September. The company also announced the closing of its business combination with Southern Energy Renewables and DevvStream. Management said it will prioritize sustainable profitability, financial strength and disciplined capital allocation, and will demonstrate progress through measurable operating results.
- XCF Global CEO Updates Shareholders Following Recent Market Volatility
- XCF Global, Inc.: XCF Global CEO Updates Shareholders Following Recent Market Volatility
XCF Global (NASDAQ: SAFX) CEO Chris Cooper told shareholders that the recent share price decline and volatility are a concern, and that management will focus on factors it controls, including executing strategy, managing resources and building long-term value. The company says its Reno facility has moved from development and commissioning into commercial operations, reporting over $10 million in revenue for August and over $12 million in gross product sales (a non-GAAP measure) for September, with daily production near 85,000 gallons by the end of September. It also announced the closing of its business combination with Southern Energy Renewables and DevvStream. Cooper said operational progress must ultimately translate into sustainable profitability and greater financial strength.
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