Australlia-based Innovation Beverage Group Ltd (IBG) and US-based BlockFuel Energy Inc are progressing toward a proposed merger expected to close by the end of Q1 2026, pending Nasdaq approval.

The combined company will operate under the ticker symbol FUEL.

The update highlights strategic acquisitions, digital infrastructure development, and financing activities designed to strengthen a vertically integrated energy platform. BlockFuel has acquired Oklahoma oil and gas assets, including 46 horizontal wells and eight saltwater disposal wells across 30,000 acres. The portfolio is majority-owned by BlockFuel, with operational control already assumed and production restoration underway.

Plans are in motion to integrate on-site natural gas power generation with digital asset mining, using associated gas from the wells to support modular generation capacity of approximately 6 MW and mine up to 4.5 bitcoin monthly.

International expansion is also underway through a joint venture memorandum of understanding with UAE-based Greenbelt Industries to establish a digital asset mining facility in Sharjah. The three-year project will combine Greenbelt’s biofuel-based power generation and regulatory licenses with BlockFuel’s mining expertise. Ownership is split 50.75% to Greenbelt and 49.25% to BlockFuel, with a shared governance board overseeing operations.

IBG and BlockFuel have also secured $2.0 million in equity financing led by Aegis Capital Corp to support near-term operational and strategic initiatives, primarily advancing energy operations.

CEO Sahil Beri of IBG noted the merger will provide exposure to energy production and digital infrastructure, while BlockFuel CEO Daniel Lanskey highlighted progress on asset acquisitions and international expansion as part of building a diversified, scalable energy platform.

Explore the full operational and strategic details of the IBG and BlockFuel merger on the complete story.