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FAQ: Safe & Green Holdings Corp. (SGBX) Olenox Subsidiary Secures DOT Number and Service Division Mobilization
TL;DR
Safe & Green Holdings' Olenox subsidiary gains a competitive edge by offering proprietary downhole technologies to third-party operators, reducing costs and aiming for cash-flow positivity by 2026.
Olenox Corp. secured a DOT number to transport equipment, enabling it to service its own wells and market rigs and tools to external operators using plasma pulse and ultrasonic cleaning technologies.
This operational restart strengthens domestic energy production and operational independence, aligning with U.S. policy goals to create a more sustainable and self-reliant energy future.
Olenox's proprietary downhole technologies, including plasma pulse and ultrasonic cleaning tools, play a central role in its expanded service offering to the oil and gas industry.
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Safe & Green Holdings Corp. announced that its energy subsidiary Olenox Corp. has received its U.S. Department of Transportation (DOT) number and is preparing to mobilize its service division assets for oilfield operations.
The DOT number is a procedural but necessary step that allows Olenox to legally transport rigs, downhole tools, and other heavy equipment essential for field operations, enabling the company to restart and expand its oilfield services.
Olenox will resume servicing its own wells and market rigs and service equipment to third-party operators, utilizing proprietary downhole technologies like plasma pulse and ultrasonic cleaning tools.
According to CEO Michael McLaren, the operational restart will reduce maintenance and workover costs for the company and generate recurring revenue from third-party well services.
Safe & Green expects to reach cash-flow positivity in 2026, supported in part by the recurring revenue from third-party well services.
The company's energy strategy aligns with ongoing U.S. policy goals focused on strengthening domestic energy production and operational independence.
Olenox will utilize proprietary downhole technologies, including plasma pulse and ultrasonic cleaning tools, which will play a central role in its expanded service offering.
The latest news and updates relating to SGBX are available in the company's newsroom at https://ibn.fm/SGBX.
Curated from InvestorBrandNetwork (IBN)
