Sky Quarry has submitted a Waste Management Recycling Permit application to operate an asphalt shingle recycling facility in Utah.
Quiver AI Summary
Sky Quarry Inc. has submitted a Waste Management Recycling Permit application to Utah regulators for its PR Spring site, aiming to establish a facility for combined oil sands extraction and waste asphalt shingle recycling. If approved, this permit would enable the company to consolidate operations that include shingle processing, heavy oil extraction, and asphaltic sand production under a unified development plan. The project is projected to recover approximately 10 million barrels over 15 years and is expected to generate early-stage cash flow while enhancing Sky Quarry’s ESG profile and aligning with Utah’s economic and environmental goals. CEO David Sealock emphasized that this move is crucial for scaling their waste-to-energy platform and for showcasing their recycling and extraction model commercially.
Potential Positives
- The filing of the Waste Management Recycling Permit application is a significant step toward operational expansion, potentially unlocking new commercial pathways and enhancing revenue-generating opportunities.
- If approved, the permit would facilitate the operation of a combined oil sands extraction and waste asphalt shingle recycling facility, indicating a comprehensive approach to resource recovery and sustainable development.
- The projected combined recovery of approximately 10 million barrels over 15 years highlights the potential scale and profitability of the facility's operations.
- This move is expected to strengthen the Company's ESG and sustainability profile, aligning with modern environmental and economic priorities.
Potential Negatives
- The press release indicates that the company's future operational success is heavily dependent on the approval of the Waste Management Recycling Permit, which may not be guaranteed.
- There is an inherent uncertainty associated with the forward-looking statements made in the release, suggesting potential risks that could materially affect the company's expected performance.
- The reliance on the integration of multiple processes (shingle processing, heavy oil extraction, and asphaltic sand production) under one permit may pose operational complexities and challenges that are not fully addressed in the release.
FAQ
What is the purpose of Sky Quarry's Waste Management Recycling Permit application?
The application aims to operate an oil sands extraction and waste asphalt shingle recycling facility in Utah.
How will the permit benefit Sky Quarry's operations?
If approved, the permit will streamline shingle processing and enhance revenue through new commercial initiatives.
What technologies are involved in Sky Quarry's operations?
The Company utilizes the ECOSolv process for heavy oil extraction and advanced recycling methods for asphalt shingles.
What is the expected output from the PR Spring facility?
Sky Quarry estimates a recovery of approximately 10 million barrels over 15 years from recycling and oil sands.
How does the permit align with sustainability goals?
The permit application supports resource recovery, strengthens ESG profiles, and furthers environmental management efforts.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
Full Release
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
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