Safe & Green Holdings Corp. (NASDAQ:SGBX) shares jumped 25.9% in premarket trading on Friday after the company announced it had completed Phase 1 of its intelligent wellsite monitoring system.
The AI-driven platform was developed through its wholly owned subsidiary, Olenox Corp.. It uses a proprietary algorithm to analyze water-cut percentages and automatically adjust pumpjack operations at oil wells. At the heart of the system is the Machfu gateway, enabling real-time, bi-directional monitoring and control.
The technology aims to boost operational efficiency by modulating pump speeds or temporarily shutting down equipment to allow reservoir rebalancing, thereby minimizing water coning. This process is designed to improve production rates while extending equipment life, lowering lifting costs, reducing site visits, and cutting unnecessary energy use.
“This marks a major step forward in merging AI with traditional oilfield operations,” said Michael McLaren, CEO of Olenox Corp. “Our intelligent monitoring platform will help us make smarter, faster decisions at the wellsite—reducing costs, conserving energy, and setting a new standard for efficiency across our operations.”
The company plans to advance to Phase 2 of the project, which will include full deployment on one of Olenox’s production pads. Safe & Green also intends to launch a read-only webpage so shareholders can monitor the system’s performance in real time.
Safe & Green Holdings stock price
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