1606 Corp. (OTC: CBDW) announced on September 8, 2026, that it has executed a Letter of Intent (LOI) with EthosEnergy Power Operations (West), LLC. The agreement covers the planned operations and maintenance of an approximately 55 MW power facility located on the Company’s East Texas (Lufkin) campus.
1606 describes EthosEnergy as a leading provider of third-party operations and maintenance services. The company is a subsidiary of A Brown and Root Industrial Services (BRIS) and has fleet experience managing more than 200 power-generation facilities representing over 50 GW of generating capacity, with roughly 30 GW of assets currently under management.
Under the terms of the LOI, 1606 intends to exclusively negotiate with EthosEnergy toward a definitive Operations and Maintenance Agreement (OMA). The OMA would provide operations and maintenance services for the facility following the successful completion of 1606’s proposed acquisition of the project. The LOI is generally non-binding and does not obligate either party to enter into a definitive OMA.
The Lufkin project consists of an approximately 132-acre industrial campus centered around an approximately 55 MW biomass power generation facility. The facility is being acquired on an “as-is, where-is” basis, and the company notes it may require substantial recommissioning, repair, or replacement before it can return to operation.
1606 is pursuing the acquisition under an existing purchase and sale agreement, as amended. The closing date is currently scheduled to occur no later than October 31, 2026. The company has paid non-refundable earnest money and extension fees that will not be refunded if the acquisition is not completed.
