Business
Innovation Beverage Group Provides Business Update Highlighting Energy Expansion and Proposed Merger with BlockFuel Energy
Oklahoma energy asset acquisition, UAE digital asset mining MOU with Greenbelt Industries, and equity financing from Aegis Capital advance integrated energy
About this update from Innovation Beverage Group Limited
[{"type":"text","content":"Oklahoma energy asset acquisition, UAE digital asset mining MOU with Greenbelt Industries, and equity financing from Aegis Capital advance integrated energy and infrastructure strategy IBG and BlockFuel continue to progress toward completion of previously announced merger, expected to close by end of Q1 2026 pending Nasdaq listing approval SYDNEY, Jan. 20, 2026 (GLOBE NEWSWIRE) -- Innovation Beverage Group Ltd (“IBG” or “the Company”) (Nasdaq: IBG), an innovative developer, manufacturer, and marketer of a growing beverage portfolio of 60 formulations across 13 alcoholic and non-alcoholic brands, today provided a business update highlighting progress across several strategic initiatives tied to its proposed merger with BlockFuel Energy Inc. (“BlockFuel”). These developments include energy asset acquisitions, international digital infrastructure development, financing activity, and merger-related milestones. “Today’s business update reflects continued momentum as we work toward completing our proposed combination with BlockFuel Energy,” said Sahil Beri, Chief Executive Officer of Innovation Beverage Group. “We believe the recent operational and strategic developments at BlockFuel underscore the opportunity to create a publicly traded platform with exposure to energy production and digital infrastructure. We remain focused on navigating the remaining regulatory and closing steps to finalize the transaction.” “Over the past several months, we have made meaningful progress executing on our strategy across energy production, power infrastructure and digital asset development,” said Daniel Lanskey, Chief Executive Officer of BlockFuel Energy. “The completion of the Oklahoma asset acquisition and the signing of our joint venture MOU in the UAE reflect our focus on building a diversified, vertically integrated energy platform as we advance toward the completion of our proposed merger with Innovation Beverage Group.” Acquisition of Oil and Gas Production Assets in OklahomaBlockFuel has completed the acquisition of oil and gas production assets located in the state of Oklahoma, marking a key step in the execution of its vertically integrated energy strategy. The acquired portfolio includes forty-six (46) previously producing horizontal oil and gas wells and eight (8) saltwater disposal wells with surface facilities. The wells are situated ...