Sky Quarry Appoints Co-Founder Marcus Laun as Interim Chief Executive Officer

Rhea-AI Summary

Sky Quarry (NASDAQ: SKYQ) has appointed co-founder Marcus Laun as Interim Chief Executive Officer. Laun brings over 25 years of capital markets experience and expertise in digital asset initiatives. The company's integrated platform includes the PR Spring facility in Utah, Foreland Refinery in Nevada, and proprietary technology for processing asphalt shingles.

Under Laun's leadership, Sky Quarry plans to implement a digital treasury strategy and explore asset tokenization to broaden funding sources and enhance investor access. The company's technology can process over 15 million tons of discarded asphalt shingles annually, equivalent to approximately 22 million barrels of oil, while advancing sustainability goals in the Western U.S.

Positive

• Appointment of experienced co-founder with 25+ years of capital markets expertise
• Strategic expansion into digital treasury and blockchain initiatives to enhance funding access
• Potential to process 15 million tons of asphalt shingles annually (22 million oil barrels equivalent)
• Diversified asset portfolio including the only operating refinery in Nevada

Negative

• Interim nature of CEO appointment indicates potential leadership uncertainty
• Digital asset strategy represents a significant pivot that may carry implementation risks

Leadership transition comes as the Company explores digital treasury strategies to complement its integrated energy model

WOODS CROSS, Utah, Sept. 11, 2025 (GLOBE NEWSWIRE) -- Sky Quarry Inc. (NASDAQ: SKYQ) ("Sky Quarry" or "the Company"), an integrated energy solutions company, today announced the appointment of Marcus Laun as Interim Chief Executive Officer.

Mr. Laun, a co-founder of the Company with more than 25 years of capital markets experience, has held senior roles in finance and advised on digital asset initiatives such as tokenization and exchange development. As Interim CEO, he will guide Sky Quarry through its next stage of growth with a focus on sustainable operations and the advancement of a digital treasury strategy. These initiatives are intended to broaden potential sources of capital, expand investor access, and may strengthen the Company’s balance sheet.

“I am both excited and encouraged by the opportunities ahead,” said Marcus Laun. “Our integrated business model, combining recycling, refining, and digital assets, positions us to deliver both environmental and financial innovation. Traditional industries and the digital revolution may seem worlds apart, yet the two are complementary and together create even greater potential.”

Sky Quarry’s integrated platform is anchored by three core assets: the PR Spring facility in Utah, which sits on significant oil sands resources; the Foreland Refinery in Nevada, the state’s only operating refinery; and proprietary technology designed to process the more than 15 million tons of asphalt shingles discarded annually in the U.S., which is estimated to equate to approximately 22 million barrels of oil, as well as other high-value industrial materials. Together, these assets provide a strong foundation for growth and innovation, positioning the Company to potentially benefit from tightening fuel supplies in the Western U.S. while advancing long-term sustainability goals.

He continued, “Sky Quarry has an attractive model today, but it can be enhanced through a digital treasury and the potential tokenization of our assets. By layering blockchain-based tools on top of our recycling and refining operations, we are pursuing opportunities with the goal of broadening funding access, lowering borrowing costs, and unlocking asset value that traditional markets often overlook. This approach can make Sky Quarry more resilient and efficient; while also expanding the ways investors can engage with our Company.”

For more insight into Sky Quarry’s integrated business model and digital treasury initiatives, a replay of the Company’s recent webinar is available here: https://youtu.be/9kiwbjMcULE

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, and all amendments thereto, as well as the Company’s Form 10-Q as filed with the SEC on August 14, 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

Who is the new interim CEO of Sky Quarry (SKYQ)?

Marcus Laun, a co-founder of Sky Quarry with over 25 years of capital markets experience, has been appointed as interim CEO.

What are Sky Quarry's (SKYQ) main assets?

Sky Quarry's core assets include the PR Spring facility in Utah, the Foreland Refinery in Nevada (state's only operating refinery), and proprietary technology for processing asphalt shingles.

What is Sky Quarry's (SKYQ) new strategic direction under Marcus Laun?

Under Laun's leadership, Sky Quarry plans to implement a digital treasury strategy and explore asset tokenization to broaden funding sources and enhance investor access while maintaining its integrated energy model.

How much asphalt shingle waste can Sky Quarry (SKYQ) process annually?

Sky Quarry's technology can process over 15 million tons of asphalt shingles annually, which is estimated to equate to approximately 22 million barrels of oil.

What is Sky Quarry's (SKYQ) approach to sustainability?

Sky Quarry combines recycling and refining operations with digital initiatives to advance sustainability goals while addressing fuel supply constraints in the Western U.S.