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Olenox Receives DOT Number; Prepares To Mobilize Service Division Assets
Globenewswireยท 2025-11-24 16:44
Core Insights - Safe & Green Holdings Corp. has announced that its subsidiary Olenox Corp. has received its DOT number and is preparing to mobilize its service assets, marking a significant step in revitalizing its Oil and Gas service division [1][2] - The company aims to reduce maintenance and workover costs by servicing its own assets, which is a crucial part of its production strategy [2] - Safe & Green expects to achieve cash-flow positivity in 2026, with growth in third-party service revenue being a key driver of this plan [2] Company Overview - Safe & Green Holdings Corp. is a provider of modular construction and sustainable infrastructure solutions, serving various industries including healthcare, education, energy, and government [3] - Olenox Corp. operates as a vertically integrated energy company with three divisions: Oil and Gas, Energy Services, and Energy Technologies, focusing on optimizing underdeveloped oil and gas assets [4] Strategic Focus - The service division of Olenox will play a central role in deploying downhole tooling assets, including ultrasonic cleaning and plasma pulse tools [2] - The company is preparing to hire a sales team to market its rigs and service equipment to third parties, expanding into a large and recurring service market [2]