Olenox Completes Wildboy and IPD Acquisitions for Gas-to-Power Platform
Olenox Industries has completed the acquisition of Wildboy Holdings and IPD Industries, adding natural gas assets in British Columbia and a registered power-development platform in Texas.
Olenox Industries Inc. (NASDAQ:OLOX) has completed the acquisition of Wildboy Holdings, Ltd. and IPD Industries, Inc., adding natural gas resources in northeastern British Columbia and a registered power-development platform near Pecos, Texas. The company said the transactions support its planned gas-to-power-to-compute platform.
Olenox acquired 100% of the issued and outstanding capital stock of both companies. Wildboy Holdings was acquired from Wildboy Industries, Ltd., while IPD was acquired from Odin International, Inc.
The purchase price was US$21.7 million. Almost all of the consideration consisted of Olenox Series F preferred stock. Securities issued to the sellers can be converted into shares of Olenox common stock, subject to certain conversion limitations and lock-up provisions.
Olenox said the transaction structure uses limited upfront cash and preserves its near-term cash position. The company also said the sellers will be able to participate in its future growth through the securities issued as consideration.
The Wildboy properties are located in northeastern British Columbia. They include a natural gas processing facility with capacity of up to 144 million cubic feet per day and approximately 184,785 acres.
Independent reserve work dated September 30, 2026, identified approximately 56.8 billion cubic feet of proved developed natural gas reserves associated with the assets.
Olenox management estimates that available gas could support an initial power-generation opportunity of up to 50 MW. That estimate is subject to generation equipment, supporting infrastructure, applicable approvals and operating conditions.
IPD holds a 100 MW self-generator registration with the Public Utility Commission of Texas for its platform near Pecos, Texas.
Olenox said it intends to develop the platform in stages, with additional generation capacity added modularly in line with customer demand and available capital. The plan remains subject to financing, final equipment and gas supply agreements, and applicable approvals.
Olenox said the two acquisitions connect natural gas production and processing with electricity generation and potential end uses including artificial intelligence, data centers and digital-asset operations such as its CS Digital business.
Michael McLaren, Olenox’s Chairman and Chief Executive Officer, said Wildboy provides natural gas resources while IPD supplies a registered foundation for power development in West Texas. He described the company’s intended operating model as covering the chain from gas to electricity to computing.
Olenox said statements about the expected benefits of the acquisitions, development plans, reserve levels, gas availability, power-generation capacity, potential applications and future performance are based on current expectations and assumptions. The company warned that these statements are subject to risks, uncertainties and other factors, many of which are outside its control, and that actual results could differ materially.
The risks identified by Olenox include integrating the acquired businesses and assets; the accuracy and recoverability of reserve estimates; access to financing, equipment and infrastructure; development costs and delays; and obtaining or maintaining permits, registrations, approvals and third-party consents.
The company also cited the need to secure customers and commercial agreements, the possibility that estimated gas availability or power-generation capacity may not be achieved, volatility in natural gas and electricity prices, dilution associated with equity securities, and regulatory developments in the United States and Canada. Further terms and conditions apply beyond those set out above.
Olenox completed the acquisition of 100% of Wildboy Holdings and IPD Industries.
Wildboy adds British Columbia natural gas assets, including a processing facility with capacity of up to 144 million cubic feet per day.
Independent reserve work dated September 30, 2026, identified approximately 56.8 billion cubic feet of proved developed natural gas reserves.
IPD holds a 100 MW self-generator registration near Pecos, Texas, with development subject to financing, equipment, gas supply agreements and approvals.
The US$21.7 million purchase price consisted almost entirely of Olenox Series F preferred stock, with conversion limitations and lock-up provisions applying to securities issued to sellers.
Olenox Industries Inc. announced that it had completed the acquisition of 100% of the issued and outstanding capital stock of Wildboy Holdings, Ltd. and IPD Industries, Inc. Wildboy was acquired from Wildboy Industries, Ltd., while IPD was acquired from Odin International, Inc.
Olenox Industries Inc. acquired Wildboy assets in northeastern British Columbia, including a natural gas processing facility with capacity of up to 144 million cubic feet per day and approximately 184,785 acres. Independent reserve work dated September 30, 2026, identified approximately 56.8 billion cubic feet of proved developed natural gas reserves.
Olenox Industries Inc. acquired an IPD platform near Pecos, Texas, holding a 100 MW self-generator registration with the Public Utility Commission of Texas. The company said it intends to pursue modular development, adding generation capacity in stages aligned with customer demand and available capital.
The acquisition purchase price was US$21.7 million. Consideration consisted almost entirely of Olenox Series F preferred stock, and the securities issued to the sellers are convertible into shares of Olenox Industries Inc.'s common stock subject to certain conversion limitations and lock-up provisions.
The acquisitions were financed primarily with Olenox Series F preferred stock rather than upfront cash. The company said the structure preserves its near-term cash position, while the conversion of the securities is subject to certain limitations and lock-up provisions.
Olenox Industries Inc. said the acquisitions advance an integrated gas-to-power-to-compute platform connecting natural gas resources with electricity generation and higher-value applications. These applications include artificial intelligence, data centres and digital-asset operations such as the company's CS Digital business.
Olenox Industries Inc. management estimates that available gas could support an initial power-generation opportunity of up to 50 MW. The estimate is subject to generation equipment, supporting infrastructure, applicable approvals and operating conditions.
Olenox Industries Inc. said it intends to develop the Texas platform modularly, adding generation capacity in stages aligned with customer demand and available capital. The plan remains subject to financing, final equipment and gas supply agreements, and applicable approvals.
Michael McLaren, Chairman and Chief Executive Officer of Olenox Industries Inc., said Wildboy provides control of natural gas resources and IPD provides a registered foundation for developing power generation in West Texas. He said the acquisitions are intended to allow Olenox to capture value across the chain from gas to electricity to computing.
Olenox Industries Inc. identified risks including integrating the acquired businesses and assets, the accuracy and recoverability of reserve estimates, availability of financing, equipment and infrastructure, development costs and delays, and obtaining or maintaining permits, registrations, approvals and third-party consents. The company also cited risks involving customer and commercial agreements, estimated gas availability or power-generation capacity not being achieved, natural gas and electricity price volatility, dilution associated with equity securities, and regulatory developments in the United States and Canada.
Olenox Industries Inc. describes itself as a vertically integrated U.S. energy company operating across oil and gas, energy services and energy technologies, including the proprietary Olenox process. The company focuses on acquiring, optimising and scaling energy-related infrastructure and operating assets, with a strategic focus on bringing low-cost natural gas to high-value end uses including digital infrastructure and next-generation computing.
Olenox Industries Inc. identifies its shares as listed on NASDAQ under the ticker symbol OLOX.