NetworkNewsBreaks – Olenox Industries (NASDAQ: OLOX) Completes $21.7 Million Acquisitions to Advance Integrated Gas-to-Power-to-Compute Strategy
Olenox Industries (NASDAQ: OLOX) announced the completion of its $21.7 million acquisition of Wildboy Holdings, Ltd. and IPD Industries, Inc., combining natural gas resources and processing infrastructure in British Columbia with a power-development platform in West Texas. The acquisitions support the company’s strategy to develop an integrated gas-to-power-to-compute platform serving artificial intelligence, data centers and digital-asset operations. The transaction was financed almost entirely through Series F preferred stock, convertible into common shares subject to certain restrictions. The Wildboy assets include approximately 184,785 acres, a natural gas processing facility with capacity of up to 144 million cubic feet per day and approximately 56.8 billion cubic feet of proved developed natural gas reserves.
Management estimates the British Columbia assets could support an initial power-generation opportunity of up to 50 megawatts, subject to equipment, infrastructure and regulatory requirements. The acquired IPD platform near Pecos, Texas, holds a 100-megawatt self-generator registration with the Public Utility Commission of Texas. Olenox plans to develop generation capacity in stages based on customer demand and available capital, positioning the company to expand across natural gas production, electricity generation and computing applications.
To view the full press release, visit https://nnw.fm/6fHRc
NOTE TO INVESTORS: The latest news and updates relating to OLOX are available in the company’s newsroom at https://nnw.fm/OLOX
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
Olenox Industries (NASDAQ: OLOX) announced the completion of its $21.7 million acquisition of Wildboy Holdings, Ltd. and IPD Industries, Inc., combining natural gas resources and processing infrastructure in British Columbia with a power-development platform in West Texas. The acquisitions support the company’s strategy to develop an integrated gas-to-power-to-compute platform serving artificial intelligence, data centers and digital-asset operations. The transaction was financed almost entirely through Series F preferred stock, convertible into common shares subject to certain restrictions. The Wildboy assets include approximately 184,785 acres, a natural gas processing facility with capacity of up to 144 million cubic feet per day and approximately 56.8 billion cubic feet of proved developed natural gas reserves.
Management estimates the British Columbia assets could support an initial power-generation opportunity of up to 50 megawatts, subject to equipment, infrastructure and regulatory requirements. The acquired IPD platform near Pecos, Texas, holds a 100-megawatt self-generator registration with the Public Utility Commission of Texas. Olenox plans to develop generation capacity in stages based on customer demand and available capital, positioning the company to expand across natural gas production, electricity generation and computing applications.
To view the full press release, visit https://nnw.fm/6fHRc
NOTE TO INVESTORS: The latest news and updates relating to OLOX are available in the company’s newsroom at https://nnw.fm/OLOX
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
