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FAQ: Safe & Green Holdings Corp. (SGBX) Mobilizes Olenox Service Assets Following DOT Approval
TL;DR
Safe & Green Holdings' Olenox unit can now pursue third-party oil well services, creating revenue opportunities in the large US market and driving toward cash-flow positivity by 2026.
Olenox Corp received its DOT number and is deploying specialized downhole tools including ultrasonic cleaning and plasma pulse tools to reduce maintenance costs and restore well operations.
This initiative supports more efficient oil well maintenance, potentially reducing environmental impact through better resource management while creating economic opportunities in the energy sector.
Safe & Green Holdings is using advanced ultrasonic cleaning and plasma pulse technology to revitalize oil wells through its newly authorized Olenox subsidiary.
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The company announced that its wholly owned subsidiary Olenox Corp. received its DOT number and is mobilizing its oil and gas service assets, including downhole tooling such as ultrasonic cleaning tools and plasma pulse tools.
The DOT number allows Olenox to legally operate and transport its service equipment, enabling the company to pursue third-party work in the U.S. oil-well services market and support its growth strategy.
Olenox is mobilizing downhole tooling including ultrasonic cleaning tools and plasma pulse tools for oil and gas well services.
The move reduces internal maintenance costs, supports getting wells back online, and positions Olenox to pursue third-party work in the large and recurring U.S. oil-well services market.
Safe & Green expects growth in these service revenues to be a key driver in its plan to achieve cash-flow positivity in 2026.
Safe & Green Holdings Corp. is a leading modular solutions company that develops, designs, and fabricates modular structures to provide safe and green solutions across various industries.
The latest news and updates relating to SGBX are available in the company's newsroom at https://ibn.fm/SGBX.
MissionIR is a specialized communications platform that assists IR firms with syndicated content to enhance the visibility of companies within the investment community, and they published this news release.
The company expects to achieve cash-flow positivity in 2026, with growth in Olenox service revenues being a key driver of this goal.
Curated from InvestorBrandNetwork (IBN)
