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CONROE, Texas - Olenox Corp, a wholly owned subsidiary of Safe & Green Holdings Corp. (NASDAQ:SGBX), announced Thursday it has completed Phase 1 of its intelligent wellsite monitoring system that aims to optimize oil production operations.
The system, built around the company’s Machfu gateway technology, provides real-time, bi-directional monitoring and control of wellsite operations. According to the company’s press release, the AI-powered platform utilizes a proprietary algorithm to analyze water-cut percentages and adjust pumpjack operations dynamically.
The technology is designed to modulate pump speeds or temporarily shut down equipment to allow reservoir rebalancing and minimize water coning, potentially increasing production efficiency while extending equipment life.
"This marks a major step forward in merging AI with traditional oilfield operations," said Michael McLaren, CEO of Olenox Corp, in the statement.
Phase 2 of the project will involve full implementation on one of Olenox’s production pads. The company also plans to launch a read-only webpage on its corporate site that will allow shareholders to observe the system’s performance in real time.
Olenox Corp describes itself as a vertically integrated energy company operating across three divisions: Oil and Gas, Energy Services, and Energy Technologies. The company acquires and optimizes underdeveloped oil and gas assets in Texas, Kansas, and Oklahoma.
The announcement comes as energy companies increasingly look to technology solutions to improve operational efficiency. The company stated that the system aims to reduce lifting costs, site visits, and unnecessary energy consumption.
In other recent news, Safe & Green Holdings Corp. has regained compliance with Nasdaq listing requirements, meeting the Minimum Bid Price Rule. This development was confirmed by the Nasdaq Stock Market, officially closing the matter as of October 3, 2025. Additionally, the company’s board of directors and senior executives have opted to receive their third-quarter compensation in company stock instead of cash, aligning their interests with those of shareholders. Safe & Green also plans to relocate its SG Echo factory operations from Durant, Oklahoma, to a newly acquired property in Conroe, Texas, consolidating manufacturing with its subsidiary Olenox Corp. The property purchase, priced at $3,000,000, is contingent on securing a third-party loan of $2,400,000. Furthermore, Safe & Green’s subsidiary, SG Blocks, Inc., has reached a settlement with EDI International and PVE, resolving all outstanding litigation. This settlement involves an undisclosed payment to SG Blocks and the dismissal of all pending appeals. These recent developments highlight significant strategic and operational changes within Safe & Green Holdings Corp.
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