Olenox Industries (NASDAQ: OLOX) announced the completion of its acquisition of PsyLinks Neurotech Corp., a move that will see PsyLinks 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. 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.
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. Their expertise is expected to drive the integration of PsyLinks’ neurotechnology and applied intelligence capabilities into Olenox’s broader strategy. The company stated that these capabilities complement its approach of merging energy production, industrial infrastructure, and digital technologies to enhance operational visibility, decision-making, and future technology initiatives.
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 acquisition of PsyLinks marks a strategic step toward incorporating advanced digital solutions into its operations.
The integration of neurotechnology into energy and industrial sectors could have significant implications for operational efficiency and safety. Neurotechnology, which involves monitoring and interpreting brain activity, combined with applied intelligence, may enable predictive maintenance, real-time monitoring of worker cognitive load, and improved human-machine interactions. For Olenox, this could translate into reduced downtime, enhanced safety protocols, and more informed decision-making across its assets.
This acquisition also reflects a broader industry trend where energy companies are increasingly adopting digital technologies to optimize operations and reduce costs. By bringing PsyLinks’ capabilities in-house, Olenox positions itself to leverage cutting-edge neurotechnology to gain a competitive edge. The appointment of the founders to key roles suggests a commitment to integrating these technologies effectively.
For more information about Olenox Industries, visit the company’s newsroom at https://ibn.fm/OLOX. The full press release regarding the acquisition is available at https://ibn.fm/xxUO6.
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