Street Calls of the Week
CONROE, Texas - Safe & Green Holdings Corp. (NASDAQ:SGBX) and its subsidiary Olenox Corp reiterated the significance of their recently signed Open Collaborative Framework (OCF) partnership with OneQode following Monday’s worldwide Amazon Web Services outage.
The AWS disruption knocked out websites and apps for millions globally, highlighting vulnerabilities in current cloud infrastructure systems. For Safe & Green Holdings, which has seen its stock decline by over 90% year-to-date, the partnership represents a crucial strategic move to strengthen its technological infrastructure.
Michael McLaren, CEO of Safe & Green, emphasized the importance of reliable data collection and communication for Olenox’s operations. "If critical data, such as sour well leak detection or spills, is not sent or received on time that can cause thousands of hours lost and possible environmental issues," McLaren said.
OneQode CEO Matt Shearing noted that much of AWS technology is over 25 years old. "This outage was no surprise for us," Shearing stated. "AWS and other infrastructure companies have been building for decades without any substantial changes to their underlying foundation."
The OCF partnership aims to combine OneQode’s technology capabilities with Olenox’s operational expertise to support infrastructure, automation and production optimization. The framework also establishes groundwork for potential future collaborations, including joint infrastructure projects and solution development for the energy sector.
Safe & Green Holdings describes itself as a provider of modular construction and sustainable infrastructure solutions. Its subsidiary Olenox operates as a vertically integrated energy company across oil and gas, energy services, and energy technologies divisions.
OneQode is an infrastructure-as-a-service company delivering networking, compute, and digital infrastructure solutions.
The information is based on a press release statement from Safe & Green Holdings.
In other recent news, Safe & Green Holdings Corp. announced it has regained compliance with Nasdaq listing requirements, meeting the Minimum Bid Price Rule by maintaining a minimum bid price of $1.00 per share for at least ten consecutive business days. Additionally, the company completed Phase 1 of its intelligent wellsite monitoring system through its subsidiary Olenox Corp. This AI-powered system aims to optimize oil production operations by using a proprietary algorithm to analyze water-cut percentages and adjust pumpjack operations dynamically. In a strategic move, Safe & Green Holdings’ executives and board members have opted to receive stock compensation instead of cash, aligning their interests with shareholders. Furthermore, Olenox Corp has begun reviewing drilling sites on its current oil leases, with plans to complete a drilling project by the fourth quarter of 2025. The company describes its future drilling plans as "ambitious" for 2026 and beyond. These developments highlight Safe & Green Holdings’ ongoing efforts to innovate and strengthen its market position.
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