- The company is relocating and consolidating operations to a new facility in Conroe, Texas, focusing on its wholly owned subsidiary Olenox Corp.’s energy services operations.
- Olenox will deploy an AI-driven monitoring system designed to improve wellsite efficiency and reduce operating costs, through use of a proprietary algorithm to analyze production data and optimize pumpjack performance in real time.
- In addition, the company leadership and board have opted to receive equity compensation, underscoring alignment with shareholders.
Safe & Green Holdings (NASDAQ: SGBX), a diversified holding company, has announced a series of operational and technological updates that reflect its focus on energy efficiency and innovation. The company is relocating and consolidating its operations in Conroe, Texas, while its wholly owned energy subsidiary, Olenox Corp., implements an AI-powered system to optimize wellsite operations.
According to a company announcement filed with the SEC, Safe & Green Holdings has entered into a Purchase Agreement for a property in Conroe, Texas, where it will relocate its SG Echo factory operations from Durant, Oklahoma. The new facility will also serve as the operational hub for Olenox Corp., consolidating energy services under one roof (https://ibn.fm/4i5kW).
The Conroe property includes both office and warehouse space, as well as leased facilities that will provide recurring rental income. The company plans to monetize the sale of its Oklahoma site, generating additional working capital to support expansion efforts.
“This move allows us to integrate SG Echo’s operations with Olenox, driving greater efficiency, reducing overhead, and increasing profit potential,” said Tricia Kaelin, Chief Financial Officer. “In addition, monetizing the Durant, Oklahoma property through its sale will generate working capital that further supports our growth-oriented strategy and commitment to long-term profitability.”
Chief Operating Officer Jim Pendergast described the consolidation as an “operational upgrade” that will streamline logistics and improve resource sharing between business units. “The access to the deep talent pool in the greater Houston area and the proximity to key transportation corridors will be instrumental in scaling our production and serving our clients more effectively,” he added.
The move came as Safe & Green’s subsidiary Olenox Corp. announced completion of Phase 1 of its intelligent wellsite monitoring system, a data-driven platform designed to cut costs, boost production efficiency, and reduce the environmental footprint of field operations (https://ibn.fm/5EaaX).
At the core of Olenox’s new system is the Machfu Gateway, a flexible Industrial Internet of Things (“IIoT”) platform that connects remote field assets to centralized analytics through secure cloud or private networks. The integration of Machfu’s technology enables Olenox to gather continuous performance data, automate adjustments at the wellsite, and execute precision-based optimization that was previously dependent on manual input and field visits.
Olenox’s proprietary algorithm analyzes water-cut percentages, the ratio of water to oil produced at a wellsite, and automatically regulates pumpjack operations in real time. The system can adjust pump speeds or temporarily pause production to allow reservoir balance, reducing unnecessary lifting costs, extending equipment lifespan, and conserving energy.
“This marks a major step forward in merging AI with traditional oilfield operations,” said Michael McLaren, CEO of Olenox Corp. “Our intelligent monitoring platform will help us make smarter, faster decisions at the wellsite—reducing costs, conserving energy, and setting a new standard for efficiency across our operations.”
The collaboration with Machfu, a technology firm known for its Edge-to-Enterprise(R) IoT solutions, plays a pivotal role in Olenox’s digital transformation. Machfu’s gateway devices enable industrial operators to comply with environmental, social, and governance (“ESG”) standards while improving operational resilience. Through this collaboration, Olenox can remotely monitor equipment health, reservoir dynamics, and site performance, transforming data into actionable insights that can be used to improve recovery rates and sustainability outcomes.
In a further show of confidence, company leadership and directors have elected to take equity in lieu of cash compensation, aligning their interests directly with shareholders (https://ibn.fm/glDU5). McLaren converted a portion of a note payable to him into equity, while board members and senior leaders opted to take their third-quarter compensation entirely in shares. The move strengthens the company’s balance sheet and conserves cash while reinforcing management’s confidence in its long-term strategy.
“This decision by our Board, management team, and myself demonstrates our collective belief in the value we are building for shareholders,” said McLaren. “By taking equity in place of cash, we are putting our confidence in Safe and Green Holdings’ future into action.”
CFO Tricia Kaelin added that the shift preserves cash for growth and aligns leadership’s incentives with investors. “By converting debt to equity, we further strengthen our balance sheet, and we are preserving our cash for growth by issuing shares in lieu of monetary compensation,” she added.
These initiatives reflect Safe & Green Holdings’ broader effort to align with current U.S. priorities around domestic energy independence and sustainable industrial development. By relocating to Texas, the company places itself at the center of the U.S. energy economy, while Olenox’s use of AI and remote monitoring addresses efficiency and environmental goals that resonate across the sector, further cementing Safe & Green’s position as an energy development and support company.
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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