RB Residential and Sky Quarry Combine Forces with LOI to Integrate Advanced Sustainability Tech with Expert Roofing Services
Rhea-AI Summary
RB Residential and Sky Quarry (NASDAQ: SKYQ) have signed a Letter of Intent (LOI) to explore a strategic alliance aimed at revolutionizing sustainable practices in the roofing industry. The non-binding agreement outlines a framework for Sky Quarry to potentially acquire RB Residential, subject to negotiations, due diligence, and stockholder approval.
RB Residential, known for comprehensive roofing services including inspections, repairs, and storm damage restoration, will integrate Sky Quarry's innovative waste asphalt shingle recycling technology into their operations. This collaboration aims to reduce waste while promoting the use of eco-friendly products in roofing projects.
Mike Jaap, CEO of RB Residential, emphasized the partnership's potential to enhance sustainable solutions for customers, while David Sealock, CEO of Sky Quarry, highlighted the alignment of both companies' commitment to quality and environmental impact.
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News Market Reaction
On the day this news was published, SKYQ declined 7.02%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
This pivotal LOI marks the commencement of a collaboration that targets integrating eco-friendly solutions into roofing services. RB Residential and Sky Quarry are dedicated to environmental stewardship, supporting communities, and enhancing service quality through innovative solutions.
RB Residential's Commitment to Excellence and Sustainability
RB Residential provides comprehensive roofing services, including inspections, repairs, replacements, and storm damage restoration. With an extensive network of skilled contractors, the company is dedicated to delivering exceptional service to residential and commercial clients. Steadfast with its core values of protecting, restoring, and building, RB Residential is poised to expand its environmental impact by leveraging Sky Quarry's sustainable solutions.
Sky Quarry's Innovative Recycling Technology
Sky Quarry Inc. has pioneered innovative methods for reclaiming and repurposing waste asphalt shingles into valuable, eco-friendly commercial products. Through this partnership, RB Residential will incorporate sustainable materials sourced from Sky Quarry, thereby reducing waste and championing the use of environmentally friendly products in their roofing projects.
Voices from the Leadership: A Shared Vision
"We are thrilled to explore a partnership and potential merger with Sky Quarry," said Mike Jaap, Chief Executive Officer of RB Residential, Inc. "This collaboration will enhance our ability to offer sustainable solutions to our customers and advance our mission to protect and restore properties while actively supporting our communities. It's a win-win for our businesses, customers, and the environment."
"Bringing RB Residential under the Sky Quarry umbrella in a potential partnership or merger would be an ideal match for us," said David Sealock, CEO of Sky Quarry Inc. "Their unwavering commitment to quality and sustainability aligns perfectly with our vision of making a significant environmental impact. Together, we can revolutionize the roofing industry by promoting recycling and innovation."
Towards a Sustainable Future
The LOI is non-binding upon the parties and sets forth an initial framework whereby Sky Quarry would seek to acquire the Company, subject to negotiation as to the structure and consideration to be paid, continued due diligence and stockholder approval. The LOI further establishes a collaborative framework, detailing shared objectives and outlining the initial steps towards integrating sustainable practices into RB Residential operations. Thus, it marks the dawn of a new era in sustainable roofing solutions.
About RB Residential
Restoration Builders, Inc., is a technology-driven residential and commercial contractor in
About Sky Quarry
Sky Quarry Inc. is an eco-friendly company focusing on sustainable solutions for repurposing waste asphalt shingles. It is committed to revolutionizing the roofing industry and promoting environmental sustainability by transforming these waste materials into valuable commercial products. Sky Quarry's waste-to-energy mission is to repurpose and upcycle millions of tons of asphalt shingle waste, diverting them from landfills. By doing so, Sky Quarry can contribute to improved waste management, promote resource efficiency, conserve natural resources, and reduce environmental impact. For more information, please visit Sky Quarry.
Contact:
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Janet Carnell Lorenz
(425) 620-1800
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View original content:https://www.prnewswire.com/news-releases/rb-residential-and-sky-quarry-combine-forces-with-loi-to-integrate-advanced-sustainability-tech-with-expert-roofing-services-302368534.html
SOURCE Restoration Builders
FAQ
What are the terms of the LOI between RB Residential and Sky Quarry (SKYQ)?
How will SKYQ's recycling technology benefit RB Residential's roofing services?
What services does RB Residential currently offer that will be enhanced by SKYQ's technology?
What environmental impact will the RB Residential and SKYQ partnership have?
When was the LOI between RB Residential and SKYQ announced?
