- The energy company plans to begin servicing its own wells and market rigs and service equipment to third-party operators.
- CEO Michael McLaren says the operational restart of the Oil and Gas (“O&G”) service division will reduce maintenance and workover costs.
- Olenox’s proprietary downhole technologies, including plasma pulse and ultrasonic cleaning tools, will play a central role in the expanded service offering.
- Safe & Green expects to reach cash-flow positivity in 2026, supported in part by 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.
Safe & Green Holdings (NASDAQ: SGBX), a diversified holding company, said its energy subsidiary Olenox Corp. has received its U.S. Department of Transportation (“DOT”) number and is preparing to mobilize its service division assets. The approval marks a procedural but necessary step for the company as it restarts its oilfield services operations and expands service capacity across its portfolio of wells (https://ibn.fm/Ncnk5).
With the DOT number in place, Olenox can begin transporting rigs, downhole tools, and other heavy equipment essential to field operations. Safe & Green said it will resume servicing its own wells and build a sales team to offer those same services to external operators. According to the company, expanding third-party work is a central part of its plan to enter a recurring and higher-margin service market. The company has not yet disclosed the full timeline for mobilization but said it is actively preparing its fleet and will begin hiring a dedicated sales team.
Michael McLaren, CEO of Safe & Green Holdings Corp., said the restart of the Oil and Gas (“O&G”) service division is an important part of the company’s production strategy. “This is a big step for us to get our service assets mobile and rekindle our O&G service division. Our O&G service division is a key part of our production strategy, being able to do our own work greatly reduces the cost of our maintenance and workover costs. We can now go full out getting our wells back online,” he said.
The mobilization effort also sets the stage for broader deployment of Olenox’s downhole tooling assets. These include the company’s ultrasonic cleaning tool and its proprietary plasma pulse technology, both of which are designed to improve wellbore cleaning and production stimulation. Safe & Green expects that growth in tooling services, abandonment work, and field support will contribute meaningfully to the company’s goal of reaching cash-flow positivity in 2026.
Olenox operates as a vertically integrated energy business with activity across three divisions: oil and gas, oilfield services, and energy technologies. These monitoring tools provide real-time data on equipment performance, enabling operators to make quicker decisions and reduce response times during field operations. Remote visibility is increasingly used across U.S. energy operations as companies work to optimize production while managing rising labor and logistics costs.
The timing of Olenox’s service mobilization coincides with growing policy emphasis on U.S. energy independence. Federal and state governments have reiterated support for expanding domestic production, improving well-site efficiency, and reducing reliance on foreign supply. This policy backdrop has created demand for well-service companies capable of maintaining and restoring production from existing assets.
As small and mid-sized operators continue adjusting to commodity price volatility, service providers that offer cost-efficient maintenance and stimulation work have gained attention. By bringing service functions in-house, Safe & Green expects to reduce operating expenses at its own wells while creating a new line of recurring revenue from third-party clients.
For more information, visit the company’s website at www.SafeandGreenHoldings.com.
NOTE TO INVESTORS: The latest news and updates relating to SGBX are available in the company’s newsroom at https://ibn.fm/SGBX
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