Sky Quarry Applies for Recycling Permit to Launch Integrated Energy Facility in Utah
- Projected recovery of 10 million barrels over 15 years from combined oil sands and recycled shingles operations
- Facility capacity of 2,000 barrels per day production
- Potential commercialization of $1 million in existing asphaltic sand inventory
- Multiple revenue streams from single operational footprint through integrated recycling and extraction model
- Pending regulatory approval creates uncertainty for project implementation
- Long timeline of 15 years for full recovery projection
- Success depends on unproven commercial viability of integrated recycling model
Insights
Sky Quarry's permit application could unlock multiple revenue streams by integrating shingle recycling with oil sands extraction in Utah.
Sky Quarry's regulatory filing represents a significant strategic development in their waste-to-energy business model. The company is seeking to create an integrated facility that combines two distinct operations: waste asphalt shingle recycling and oil sands extraction at their PR Spring site in Utah.
What makes this application noteworthy is the potential for multiple revenue streams from a single operational footprint. The company has identified four specific initiatives this permit would enable:
- Commercialization of approximately
$1 million in existing asphaltic sand inventory - Deployment of their proprietary ECOSolv process for heavy oil extraction
- Continued R&D advancement for recycled products
- Demonstration of scalable remediation methods applicable to other U.S. markets
The projected recovery numbers are substantial: approximately 10 million barrels over a 15-year period, with a daily operating capacity of 2,000 barrels. This represents a significant production potential that could materially impact the company's financial trajectory.
The permit would allow Sky Quarry to effectively create a circular economy model within its operations, where waste materials (shingles) are processed alongside natural resources (oil sands) to maximize resource recovery and minimize environmental impact. This integrated approach aligns with growing market demand for sustainable resource development solutions, potentially positioning Sky Quarry to capitalize on both traditional energy markets and emerging sustainability-focused opportunities.
“Unlocking New Commercial Pathways and Expanding Revenue-Generating Operations”
WOODS CROSS, Utah, June 12, 2025 (GLOBE NEWSWIRE) -- Sky Quarry Inc. (NASDAQ: SKYQ) ("Sky Quarry" or "the Company"), an integrated energy solutions company committed to revolutionizing the waste asphalt shingle recycling industry, today announced that it has filed a Waste Management Recycling Permit application to Utah regulators. If approved, the permit would allow the Company to operate a combined oil sands extraction and waste asphalt shingle recycling facility at its PR Spring site, unlocking new commercial pathways and expanding revenue-generating operations.
The application is accompanied by a request to the School and Institutional Trust Lands Administration (SITLA), the Utah state agency responsible for managing trust lands on behalf of public education, for approval of a combined permit structure. This would allow Sky Quarry and its wholly owned subsidiary, 2020 Resources, to consolidate shingle processing, heavy oil extraction, and asphaltic sand production under a unified sustainable waste energy development plan.
If approved, the permit would open the door to several operational initiatives at the PR Spring site, including:
- Commercialization of approximately
$1 million in asphaltic sand inventory. - Deployment of the Company’s ECOSolv process to support on-site heavy oil extraction.
- Continued advancement of recycled product development through R&D.
- Demonstration of scalable remediation methods applicable across U.S. markets.
Sky Quarry projects a combined recovery of approximately 10 million barrels over a 15-year period from oil sands and recycled shingles, based on the PR Spring facility’s operating capacity of 2,000 barrels per day.
“This is a critical step in scaling our waste-to-energy platform and creating multiple revenue streams from a single operational footprint,” said David Sealock, Chief Executive Officer and Chairman of the Board of Sky Quarry. “It will allow us to showcase how our blended recycling and extraction model functions at a commercial level.”
The permit application also represents a meaningful step forward in Sky Quarry’s commercial roadmap, aligning with the Company’s long-term vision to integrate recycling and resource recovery. It is expected to:
- Enable early-stage cash flow from asphaltic sand and oil sales.
- Strengthen the Company’s ESG and sustainability profile.
- Enhance the long-term strategic value of its oil sands assets.
Mr. Sealock continued, “This application and lease proposal reflects our continued progress toward developing scalable, commercially viable solutions that we believe align with Utah’s economic and environmental priorities. We look forward to working closely with SITLA and state regulators to move this vision forward.”
About Sky Quarry Inc.
Sky Quarry Inc. (NASDAQ: SKYQ) and its subsidiaries are, collectively, an oil production, refining, and a development-stage environmental remediation company formed to deploy technologies to facilitate the recycling of waste asphalt shingles and remediation of oil-saturated sands and soils. Our waste-to-energy mission is to repurpose and upcycle millions of tons of asphalt shingle waste, diverting them from landfills. By doing so, we can contribute to improved waste management, promote resource efficiency, conserve natural resources, and reduce environmental impact. For more information, please visit skyquarry.com.
Forward-Looking Statements
This press release may include ''forward-looking statements.'' All statements pertaining to our future financial and/or operating results, future events, or future developments may constitute forward-looking statements. The statements may be identified by words such as “expect,” “look forward to,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project,” or words of similar meaning. Such statements are based on the current expectations and certain assumptions of our management, of which many are beyond our control. These are subject to a number of risks, uncertainties, and factors, including but not limited to those described in our disclosures. Should one or more of these risks or uncertainties materialize or should underlying expectations not occur or assumptions prove incorrect, actual results, performance, or our achievements may (negatively or positively) vary materially from those described explicitly or implicitly in the relevant forward-looking statement. We neither intend, nor assume any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated. You are urged to carefully review and consider any cautionary statements and the Company’s other disclosures, including the statements made under the heading "Risk Factors" and elsewhere in the Company’s Form 10-K as filed with the SEC on March 31, 2025, as well as the Company’s Form 10-Q as filed with the SEC on May 15, 2025. Forward-looking statements speak only as of the date of the document in which they are contained.
Investor Relations
Jennifer Standley
Director of Investor Relations
Ir@skyquarry.com
Company Website
www.skyquarry.com
FAQ
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