CN Energy Group Inc. (NASDAQ: CNEY) entered into a Share Purchase Agreement to acquire 100 % of the outstanding shares of Blessing Logistics Ltd., an Alberta‑based oil‑trading company. The transaction is valued at USD $2.0 million and will be paid in CNEY Class A ordinary shares, with the number of shares issued determined by the volume‑weighted average price of CNEY’s Class A shares over the five trading days immediately preceding the closing date. The deal is expected to close on or before March 31 2026, subject to customary closing conditions.
The acquisition gives CN Energy Group a fully operational North American entity and regulatory licenses that support its strategic expansion into the U.S. and Canadian crude‑oil trading markets. By integrating Blessing Logistics’ platform and licenses, CNEY aims to strengthen its participation in global crude‑oil trading and export activities.
CN Energy Group has faced significant financial challenges, with 2025 revenue down 30.2 % to $35.57 million and a net loss of $11.14 million. The company also received a Nasdaq delisting warning for a minimum bid price deficiency. The deal is viewed as a pivot from its core activated‑carbon and biomass‑electricity businesses toward the more volatile but potentially lucrative energy‑trading sector.
The announcement was well received by investors, reflecting confidence in the strategic pivot and the potential for diversified revenue streams.
Interim CEO Wenhua Liu said the transaction represents an important step in executing CNEY’s global energy strategy and that, after closing, the company expects to leverage Blessing Logistics’ platform and licenses to expand its international crude‑oil trading business and create long‑term value for shareholders.
Blessing Logistics, founded in 2015, is incorporated in Alberta, registered with the Alberta Energy Regulator, holds Canadian crude‑oil export licenses, and is a qualified trader within the CNPC system.
The deal positions CNEY to diversify its revenue base and potentially improve financial performance, addressing the company’s declining revenues and losses. By gaining a foothold in North America, a key market for crude‑oil trading, CNEY may mitigate risks associated with its legacy activated‑carbon business and pursue new growth opportunities.
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