Olenox Industries Acquires PsyLinks Neurotech, Bolstering Digital and Neurotechnology Capabilities

Olenox Industries (NASDAQ: OLOX) announced the completion of its acquisition of PsyLinks Neurotech Corp., which will operate as a wholly owned subsidiary. Under the share exchange agreement, Olenox acquired all outstanding PsyLinks shares in exchange for approximately $500,000 in restricted common stock. 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 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 company noted that the acquisition was reviewed and approved by the independent members of its 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. With the addition of PsyLinks' neurotechnology and applied intelligence capabilities, Olenox aims to enhance its ability to monitor and manage complex energy systems.

For more information on the acquisition and Olenox's ongoing initiatives, visit the company's newsroom at https://ibn.fm/OLOX.

This acquisition marks a strategic move for Olenox as it seeks to leverage advanced technologies to optimize energy production and infrastructure. The integration of neurotechnology could provide new insights into operational efficiency and predictive maintenance, potentially setting a precedent for the energy sector's adoption of cognitive technologies.

Investors and industry observers will be watching closely to see how PsyLinks' capabilities are deployed across Olenox's existing assets and whether this acquisition will lead to further investments in digital transformation.