Empire Oil Refineries signs deal to buy Enigma Energy
Empire Oil Refineries Corp. has signed a letter of intent to acquire Las Vegas-based Enigma Energy, a company that designs and builds electrical vehicle charging stations.
Financial terms weren't disclosed.
Enigma has patent-pending technology that allows use of step-up transformer energy. The company can store and transport clean energy over contiguous property lines and store power for use when needed.
Enigma said it plans to build 500 auto charging stations in Nevada over the next five years.
"We have been waiting to partner and acquire a company such as Enigma Energy, which will provide clean energy not only our children, but our children's children," Empire Oil Chief Executive Officer Arshad Shah said in a statement.
The acquisition agreement is expected to be finalized within 30 days, he said.
North Dakota-based Empire Oil offers a range of oil and gas services, including site and surface evaluation, seismic permits, land use permits, and mineral and leasehold ownership.
Contact reporter Hubble Smith at hsmith@reviewjournal.com or 702-383-0491.
