Giant Containers Retained to Design, Deliver New Modular Structures for World-Leading EV Company

Rhea-AI Summary

Olenox Industries (Nasdaq: OLOX) announced that subsidiary Giant Containers has been retained to design and deliver multiple custom steel modular buildings for a leading electric vehicle company across several U.S. sites.

The engagement covers integrated design-build services to support the client’s national expansion, phased delivery beginning in the coming months, and emphasis on speed, consistency, sustainability and long-term performance.

Key Figures

Steel modular buildings: multiple buildings Series A preferred shares: 39,000 shares Restricted common shares: 585,000 shares +5 more

8 metrics

Steel modular buildings multiple buildings Custom steel modular structures across several U.S. sites

Series A preferred shares 39,000 shares Exchanged for restricted common shares in settlement with CEO

Restricted common shares 585,000 shares Issued in exchange for Series A preferred shares

Transaction value $36 million Proposed acquisition of Vivakor’s midstream business

Annual EBITDA $4.56 million EBITDA from take-or-pay guarantee for proposed acquisition

Experience 30+ years Government, diplomacy and national security experience of new director

Target closing date March 31, 2026 Target for closing Vivakor midstream acquisition

Board appointment date Feb. 16, 2026 Effective date of Ambassador Dobriansky’s appointment

Market Reality Check

Price: $0.8282 Vol: Volume 295,891 is well be...

low vol

$0.8282 Last Close

Volume Volume 295,891 is well below the 20-day average of 675,461, suggesting limited participation ahead of this announcement. low

Technical Shares at $0.8282 are trading below the 200-day MA at $1.12 and sit 45.15% under the 52-week high, near the 52-week low.

Peers on Argus

No peer stocks with momentum or same-day headlines were flagged, indicating the ...

No peer stocks with momentum or same-day headlines were flagged, indicating the setup appears stock-specific rather than a sector-wide move.

Historical Context

5 past events · Latest: Feb 20 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 20	Board appointment	Positive	-6.8%	Appointment of Ambassador Paula J. Dobriansky to the Board of Directors.
Feb 19	Debt conversion	Positive	-3.0%	Conversion of CEO-related note and Series A preferred into common shares.
Feb 13	Debt settlement	Positive	+0.7%	Settlement with Cedar Advance LLC via issuance of restricted common stock.
Feb 10	Board appointments	Positive	-2.8%	Appointment of Erik Blum and Adam Falkoff to the Board of Directors.
Jan 29	Acquisition LOI	Positive	-7.6%	LOI to acquire Vivakor’s midstream business with $36M transaction value.

Pattern Detected

Recent ostensibly positive corporate and balance-sheet updates often coincided with next-day share price declines.

Recent Company History

Over the past month, Olenox Industries reported multiple governance, balance-sheet and strategic developments. Board changes on Feb. 6 and Feb. 16, 2026 and debt-related settlements, including liability conversions and a merchant cash advance settlement, were disclosed via Form 8-K filings. The company also signed a non-binding LOI for a midstream asset valued at about $36 million. Despite these announcements, four of the last five news events saw negative 24-hour price reactions, suggesting a recent pattern of selling into news.

Market Pulse Summary

This announcement highlights a new commercial milestone: Giant Containers, a subsidiary of Olenox, w...

Analysis

This announcement highlights a new commercial milestone: Giant Containers, a subsidiary of Olenox, was retained to design and deliver scalable steel modular structures for a leading EV company across multiple U.S. sites. In recent months, Olenox has focused on board refreshment, balance-sheet settlements and a midstream LOI valued at $36 million. Investors may watch for execution on this EV project, progress on the Oklahoma STACK transaction, and any further debt or equity structure changes disclosed via future Form 8-K filings.

Key Terms

convertible promissory note, restricted shares of common stock, form 8-k, ebitda, +1 more

5 terms

convertible promissory note financial

"converted a convertible promissory note into common shares on Feb. 11, 2026"

A convertible promissory note is a loan a company takes now that can later be turned into shares instead of being repaid in cash. Think of it as lending money with the option to accept ownership in the business down the road; that matters to investors because it affects who gets paid first, how much ownership existing shareholders keep, and the company’s future valuation and cash needs. Terms such as conversion price, interest and maturity determine the financial impact.

restricted shares of common stock financial

"calls for Olenox to issue restricted shares of common stock at market price"

Restricted shares of common stock are company shares that cannot be sold or transferred until specific conditions are met, such as a set time period, performance targets, or regulatory approvals; they are often granted to founders, employees or early investors. They matter to investors because when the restrictions lift those shares can enter the market and increase the supply, potentially diluting existing holders and changing the stock’s price, similar to a locked faucet being opened and more water joining the flow.

form 8-k regulatory

"The company filed a Form 8-K regarding the appointment."

A Form 8-K is a report that companies file with the government to share important news quickly, such as changes in leadership, major business deals, or financial updates. It matters because it helps investors stay informed about significant events that could affect the company's value or stock price.

ebitda financial

"based on $4.56 million annual EBITDA from a take-or-pay guarantee"

EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It measures a company's profitability by focusing on the money it makes from its core operations, ignoring expenses like taxes and accounting adjustments. Investors use EBITDA to compare how well different companies are performing financially, as it provides a clearer picture of operational success without the influence of financial structure or accounting choices.

take-or-pay guarantee financial

"based on $4.56 million annual EBITDA from a take-or-pay guarantee"

A take-or-pay guarantee is a contract clause where a buyer promises to either take the agreed quantity of goods or services or pay a predefined amount even if they don’t take delivery. For investors, it creates more predictable revenue for the seller—like a reserved seat that’s paid for whether used or not—while also signaling potential demand risk or collectability issues if buyers struggle to pay.

AI-generated analysis. Not financial advice.

Project supports client’s continued expansion with multiple custom steel modular systems across several U.S. sites

CONROE, Texas, Feb. 24, 2026 (GLOBE NEWSWIRE) -- via IBN – Giant Containers, a subsidiary of Olenox Industries (Nasdaq: OLOX), today announced it has been retained to design and deliver new modular solutions for a leading electric vehicle (EV) company across multiple U.S. locations.

The multi-site engagement will focus on the design, manufacture and deployment of scalable, modular buildings that supports the client’s continued expansion. The project scope includes multiple custom steel modular buildings across several sites.

The retained EV company continues to accelerate its national footprint to meet rising consumer demand and infrastructure requirements. Giant Containers will provide integrated design-build services to ensure consistency, speed to market, and alignment with performance and sustainability standards across all sites.

“This engagement underscores Giant Containers’ position as a trusted partner for next-generation infrastructure,” said Mike McLaren, CEO of Olenox Industries. “As EV adoption expands, the need for resilient, modular, and energy-efficient site solutions becomes critical. Our team is proud to support a leading innovator in electric mobility with infrastructure designed for scale and long-term performance.”

Work is expected to commence in the coming months, with phased delivery aligned to the client’s national expansion schedule.

Giant Containers specializes in modular design, adaptive industrial structures, and high-performance infrastructure systems for public and private sector clients. Its solutions are engineered to reduce construction timelines, minimize site disruption, and support sustainable development objectives.

About Olenox Industries Inc.
Olenox Industries Inc. (Nasdaq: OLOX), formerly known as Safe & Green Holdings Corp. (SGBX), is an industrial holding company focused on acquiring, operating, and scaling businesses that provide engineered solutions across industrial, energy, and infrastructure markets. Through its subsidiaries, including Giant Containers, the Company delivers high-quality modular and containerized systems designed for rapid deployment and long-term performance.

Safe Harbor Statement
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company’s ability to successfully complete the manufacturing of the modular enclosure systems under a previously awarded contract to Giant Containers from a world-leading global industrial equipment manufacturer, the Company's ability to maintain compliance with the NASDAQ listing requirements, and the other factors discussed in the Company's Annual Report on Form 10-K for the year ended Dec. 31, 2024, and its subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.

For more information, visit www.olenox.com

Investors:
investors@safeandgreenholdings.com

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FAQ

What did Olenox Industries (OLOX) announce on February 24, 2026 about Giant Containers?

They announced Giant Containers was retained to design and deliver modular buildings for a leading EV company across several U.S. sites. According to the company, the multi-site engagement includes integrated design-build services, phased delivery, and a focus on sustainability and speed to market.

What is the scope and deliverable timeline for the OLOX modular project announced Feb 24, 2026?

The scope covers multiple custom steel modular buildings across several U.S. locations, with work beginning in the coming months. According to the company, delivery will be phased to align with the client’s national expansion schedule and operational needs.

How will the Giant Containers contract affect Olenox Industries’ (OLOX) operational focus?

It expands Olenox’s execution of integrated design-build modular solutions for infrastructure projects with national scale. According to the company, the engagement emphasizes consistency, speed to market, resilient design, and sustainable performance across multiple sites.

Which customer type is Giant Containers serving in the OLOX announcement dated Feb 24, 2026?

Giant Containers is serving a leading electric vehicle company that is accelerating a national footprint to meet rising demand. According to the company, the project supports the client’s expansion and infrastructure requirements across multiple U.S. sites.

What benefits does Olenox (OLOX) say its modular solutions deliver for the EV project?

The company says the modular solutions reduce construction timelines, minimize site disruption, and support sustainable development objectives. According to the company, integrated design-build delivery ensures alignment with performance and sustainability standards across all sites.