Business
RenX Enterprises Completes Purchase of Komptech Crambo Shredder and Diamond Z Horizontal Grinder Following Strong Operating Performance
MIAMI, FL, Jan. 07, 2026 (GLOBE NEWSWIRE) -- RenX Enterprises, Inc. (the “Company”) (NASDAQ: RENX), formerly known as Safe and Green Development Corporation,
About this update from Renx Enterprises Corp.
[{"type":"text","content":"MIAMI, FL, Jan. 07, 2026 (GLOBE NEWSWIRE) -- RenX Enterprises, Inc. (the “Company”) (NASDAQ: RENX), formerly known as Safe and Green Development Corporation, today announced that it has completed the purchase of a Komptech Crambo shredder and a Diamond Z horizontal grinder that had previously been deployed under a rental arrangement. The Company elected to acquire the equipment following a review of operating results demonstrating increased throughput, improved processing efficiency, and incremental revenue contribution during the rental period. A photograph of the Company’s Diamond Z horizontal grinder currently operating within RenX’s materials processing operations is included below. Diamond Z horizontal grinder operating at RenX’s materials processing facility The equipment has been actively utilized within the Company’s materials processing operations and has supported higher volumes across RenX’s materials handling and resource recovery activities. Based on performance data observed during live operations, management determined that ownership of the assets was economically favorable and aligned with the Company’s long-term operating strategy. The equipment was purchased for approximately $2.54 million with a 30% down payment of approximately $700,000 that had previously been deployed under a rental arrangement and the balance financed through two secured promissory notes with Commercial Credit Group. The Company believes the financing structure appropriately reflects the revenue-generating profile of the equipment and is consistent with its disciplined approach to capital allocation. Additional information regarding the financing transaction is included in the Company’s Current Report on Form 8-K filed in connection with the closing. “This transaction reflects our focus on deploying capital behind assets that demonstrate tangible operating results,” said David Villarreal, Chief Executive Officer of RenX. “After evaluating the performance of both units in active operations, we concluded that ownership would enhance our operating efficiency and support continued revenue growth.” The acquisition expands RenX’s owned equipment base and supports the Company’s ongoing efforts to scale processing capacity through targeted investments in proven, high-utilization assets. Management believes the transaction strengthens RenX’s operat...