Sky Quarry Stock Price, News & Analysis
Company Description
Sky Quarry Inc. (NASDAQ: SKYQ) is an oil production, refining, and development-stage environmental remediation company in the energy sector. According to its SEC filings, the company was formed to deploy technologies that facilitate the recycling of waste asphalt shingles and the remediation of oil-saturated sands and soils, with the goal of producing sustainable refined crude products. Sky Quarry describes its mission as a waste-to-energy approach that repurposes and upcycles millions of tons of asphalt shingle waste that would otherwise be sent to landfills, supporting improved waste management, resource efficiency, and reduced environmental impact.
Business model and core operations
Sky Quarry reports that its business combines oil production, refining, and environmental remediation. The company has one reportable segment focused on refined crude oil. It refines crude oil into several products, including diesel, liquid asphalt, vacuum gas oil (VGO), and naphtha, each of which has distinct industrial applications, as described in earlier company disclosures.
Through its wholly owned subsidiary Foreland Refining Corporation, Sky Quarry operates the Eagle Springs Refinery in Nevada. SEC and news disclosures state that Foreland is engaged in refining heavy crude oil into diesel and other petroleum products such as naphtha, vacuum gas oil, and paving asphalt liquids. The company highlights this refinery as an in-state solution for Nevada’s fuel needs and as a foundational part of its broader circular energy model.
Integrated asset base: PR Spring and Foreland
Sky Quarry’s platform is anchored by three core elements described in its proxy and news materials:
- The PR Spring facility in Utah, which sits on oil sands resources and includes asphalt bitumen leases covering approximately 5,930 acres in the PR Spring region.
- The Foreland Refinery in Nevada, identified in company communications as the state’s only operating refinery, focused on heavy crude oil refining into diesel and other petroleum products.
- Proprietary technology designed to process waste asphalt shingles and other oil-bearing solids.
In its SEC registration statement and proxy materials, Sky Quarry explains that it acquired the PR Spring facility and related bitumen leases through its subsidiary 2020 Resources, and later acquired Foreland (formerly Petro Source Resources), which operates the Eagle Springs Refinery. Together, these assets support an integrated model that links resource extraction, remediation, recycling, and refining.
ECOSolv technology and environmental remediation
Sky Quarry describes a proprietary solvent-based process, referred to as its ECOSolv technology or the ECOSolv process, for separating oil from oily sands and other oil-bearing solids. According to the company’s S-1/A and proxy statement, this process uses a closed-loop distillation and evaporation circuit in which up to 99% of the solvent is recoverable for continuous reuse and requires no water. Bench testing, conducted both in-house and by unaffiliated third parties, demonstrated oil separation rates of up to 95% using samples of mined crushed ore and ground asphalt shingles.
The company states that it intends to complete retrofitting of the PR Spring facility to recycle waste asphalt shingles using ECOSolv, producing oil and asphalt paving aggregate from its bitumen deposit. It also indicates plans to develop regional model asphalt shingle recycling facilities in areas with high concentrations of waste shingles and near shingle manufacturing centers. These facilities are described as modular and scalable, designed to separate shingles into base components such as bitumen/asphalt cement, shingle granules, sand aggregate, limestone, and fiberglass.
Digital asset treasury and tokenization initiatives
In multiple news releases, Sky Quarry outlines a digital asset treasury (DAT) strategy and a focus on real-world asset (RWA) tokenization linked to energy commodities. The company has announced a strategic initiative to establish a digital asset treasury as part of its capital allocation approach, with the goal of complementing its operating business, improving capital efficiency, and strengthening its balance sheet.
Sky Quarry has signed a Memorandum of Understanding (MOU) with Continuum Network, a blockchain technology firm, to explore how the company’s commodities could be represented in blockchain-enabled markets. Subsequent updates describe progress toward creating tokens tied to oil assets, developing an exchange interface, and using tokens as collateral with suppliers. The company emphasizes that these tokens are intended to be distinct from equity and tied directly to underlying energy assets.
In its public communications, Sky Quarry positions this tokenization work as part of a broader effort to build a digital asset treasury that interacts with its physical energy operations. The company notes that it intends to market tokenization products to the energy sector while using its own assets and operations as a demonstration platform.
Power generation assets at PR Spring
In a recent news release, Sky Quarry reports that it owns two Solar Centaur Caterpillar gas turbine generator sets at its PR Spring site in Utah, with a combined generating capacity of 7 megawatts. These turbines are described as capable of co-generative operation through an on-site steam generator, enabling continuous operation independent of external deliveries. Following a redesign of planned facility operations at PR Spring, the company reassessed its power needs and determined that the full 7 megawatts of installed capacity is not required for its own operations.
Sky Quarry has issued a Request for Proposals (RFP) seeking partners to lease or otherwise commercialize these turbine generators for commercial or industrial users that may benefit from dedicated, utility-scale power. The company notes that the units could be transported to other sites as business needs require and that on-site gas generation at PR Spring may support delivered power costs that are competitive in the market, depending on fuel and operating profile.
Capital markets activity and corporate governance
Sky Quarry is listed on The Nasdaq Capital Market under the symbol SKYQ. SEC filings indicate that the company qualifies as a smaller reporting company and an emerging growth company. In an 8-K dated September 30, 2025, the company disclosed that it received an additional 180-day period from Nasdaq, until March 23, 2026, to regain compliance with the minimum bid price requirement.
In an 8-K dated November 5, 2025, Sky Quarry reported that stockholders approved an amendment to its certificate of incorporation to increase authorized common stock from 100,000,000 to 2,000,000,000 shares and authorized the board to implement a reverse stock split within a specified range. The same filing notes stockholder approval of an increase in shares authorized under the company’s 2020 Stock Plan and ratification of its independent registered public accounting firm.
Further 8-K filings describe capital structure and financing actions, including convertible notes, warrants, a purchase agreement with Varie Asset Management LLC, and a settlement agreement with LendSpark Corporation involving the issuance of common stock in exchange for debt settlement. An 8-K dated January 8, 2026, reports that the company terminated the purchase agreement with Varie Asset Management without cause and without penalties, as it explores alternative financing plans.
In governance matters, an 8-K dated November 21, 2025, and a related news release describe the appointment of three independent directors—Robert Byrne, Alexander Monje, and Omar Hussein—to the board, bringing backgrounds in capital markets, law, AI, and real-world asset tokenization. Another 8-K notes the resignation of a director in September 2025. The company highlights that these board changes are intended to strengthen governance and support its strategic direction.
Digital strategy, crowdfunding and investor outreach
Sky Quarry has used a mix of traditional and emerging capital channels. An 8-K dated October 6, 2025, details a Regulation Crowdfunding (Reg CF) offering of Series A 10% Redeemable Preferred Stock by Foreland Refining Corporation, featuring an annual dividend and a royalty per barrel of crude oil refined and sold, subject to a cap on total annual return and specified redemption terms. A related news release describes a crowdfunding campaign for Foreland Refining, emphasizing revenue-linked structures and their potential relevance to future blockchain-based financing models.
The company has also hosted investor webinars to explain its digital treasury strategies, tokenization plans, and how these initiatives may interact with its integrated energy operations. Public communications emphasize governance and alignment, the use of tokenization to support real economic assets, and the importance of selecting partners who understand long-term opportunities in digital assets and energy.
Company history and structure
According to the company’s proxy statement and registration materials, Sky Quarry Inc. was incorporated in Delaware on June 4, 2019 under the name Recoteq, Inc., and changed its name to Sky Quarry Inc. on April 22, 2020. It has three wholly owned subsidiaries: 2020 Resources, 2020 Canada, and Foreland. The PR Spring facility and related leases were acquired through 2020 Resources in 2020, while Foreland (formerly Petro Source Resources) was acquired in 2022, adding the Eagle Springs Refinery to the group.
Sky Quarry describes itself as focused on sustainable resource recovery, combining conventional energy infrastructure with recycling and remediation technologies and exploring digital asset tools that may broaden capital access for energy-linked assets. All of these elements are documented in the company’s SEC filings and public news releases.