Olenox Industries Acquires PsyLinks Neurotech to Bolster Energy Technology Strategy
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Olenox Industries (NASDAQ: OLOX) announced the completion of its acquisition of PsyLinks Neurotech Corp., which will now operate as a wholly owned subsidiary. Under the share exchange agreement, Olenox acquired all outstanding shares of PsyLinks in exchange for approximately $500,000 in restricted common stock. PsyLinks founders Dr. Michael McLaren-Gradinaru and Dr. Ford Burles have joined Olenox as vice president of technology and vice president of product development, respectively.
The acquisition aligns with Olenox’s strategy of integrating energy production, industrial infrastructure, and digital technologies to improve operational visibility, decision-making, and future technology initiatives. PsyLinks’ neurotechnology and applied intelligence capabilities are expected to complement these efforts, offering advanced tools for monitoring and optimizing energy systems. The transaction was reviewed and approved by the independent members of Olenox’s board due to its potential classification as a related-party transaction under SEC rules.
Olenox Industries is a vertically integrated energy company operating across multiple business lines, including oil and gas, energy services, and energy technologies. The company focuses on acquiring, optimizing, and scaling energy-related infrastructure and operating assets across key U.S. markets. The addition of PsyLinks’ neurotechnology could enhance Olenox’s ability to leverage data-driven insights for operational efficiency, potentially impacting the broader energy sector by demonstrating how cognitive technologies can be applied to industrial processes.
For more information, the full press release is available at https://ibn.fm/xxUO6. Investors can find the latest news and updates on OLOX in the company’s newsroom at https://ibn.fm/OLOX.