CN Energy Group. Inc. (NASDAQ: CNEY) announced that an oil well project in the Cold Lake region of Alberta, Canada, has been completed and commenced production, according to a company press release dated August 19, 2026.

The project is held through CNEY Canada Inc., a wholly owned Canadian subsidiary of the company. Operations are conducted via Blessing Logistics Ltd., a wholly owned subsidiary of CNEY Canada Inc.

Wenhua Liu, interim CEO of CNEY, said: "The successful commencement of production at the Cold Lake oil well project marks an important milestone in the execution of our North American energy strategy. We are expanding beyond our existing energy businesses into oil asset investment, production operations and supply chain services."

The company said it plans to continue evaluating oil and gas opportunities in Canada and across North America, with a focus on projects supported by established infrastructure, experienced operators and reliable sales channels.

CNEY is primarily known for producing activated carbon products and also provides robotics and automation solutions for small and medium-sized businesses in North America.