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

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.

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.

Argus Feb 24 session

+9.27% close to close Open Argus

Details

News Market Reaction – OLOX

On Feb 24, the day this news came out, OLOX closed 9.27% above the previous close.

Data tracked by StockTitan Argus for the Feb 24 session.

Key Figures

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

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

Historical Context

5 past events · Latest: Feb 20

5 events

1. Feb 20

   Board appointment

   24h Move

   -6.8%

   Appointment of Ambassador Paula J. Dobriansky to the Board of Directors.

2. Feb 19

   Debt conversion

   24h Move

   -3.0%

   Conversion of CEO-related note and Series A preferred into common shares.

3. Feb 13

   Debt settlement

   24h Move

   +0.7%

   Settlement with Cedar Advance LLC via issuance of restricted common stock.

4. Feb 10

   Board appointments

   24h Move

   -2.8%

   Appointment of Erik Blum and Adam Falkoff to the Board of Directors.

5. Jan 29

   Acquisition LOI

   24h Move

   -7.6%

   LOI to acquire Vivakor’s midstream business with $36M transaction value.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

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.

View in glossary

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. How Rhea-AI works. Not financial advice.

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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

Corporate Communications
IBN
Austin, Texas
www.InvestorBrandNetwork.com
512.354.7000 Office
Editor@InvestorBrandNetwork.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

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.