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Sky Quarry (NASDAQ: SKYQ) reported Q3 2024 financial results with revenue of $4.8 million, down 66% from $14.4 million in Q3 2023. The company completed its Nasdaq listing and raised $6.7 million through a public offering of 1,118,005 shares at $6.00 per share. Q3 saw a net loss of $4.4 million compared to $0.6 million loss in Q3 2023. Revenue decline was attributed to lower WTI pricing and refinery refurbishment. The company completed major upgrades at Foreland refinery and partnered with Atlas Roofing for waste shingle recycling initiatives. Cash position stood at $0.3 million as of September 30, 2024.
Sky Quarry (NASDAQ: SKYQ) announces its first Waste Asphalt Shingle Modular Facility is 80% complete, with operations expected to begin in 2025 pending project financing. The facility is part of a planned nationwide network complementing Sky Quarry's PR Spring extraction site, which has a 2,000 barrels per day heavy oil capacity. Each modular unit can process 100,000 tons of asphalt shingle feedstock annually, addressing the 15 million tons of waste shingles generated yearly in the U.S. The initiative aims to unlock over 22 million barrels of energy potential annually through sustainable resource recovery.
Sky Quarry (NASDAQ: SKYQ) has launched its European Financing Effort to access growth capital in the European market. The initiative follows meetings with institutional investors across Europe, where 90% of global sustainable funds ($2.7 trillion) are managed. The company aims to leverage its Nasdaq listing to attract European investors, targeting lower capital costs through 'Green Bonds' without convertibility requirements.
The company has assembled a European team based in Germany to engage with approximately 4,800 institutions having sustainable mandates across Luxembourg, Germany, Switzerland, Sweden, and the UK. Sky Quarry also clarified its market capitalization as $40.23 million, based on 18.8 million shares at $2.14 per share as of November 11, 2024.
Sky Quarry (NASDAQ: SKYQ) has announced two key appointments to strengthen its finance leadership. Darryl Delwo, CPA, with 28 years of experience, has been promoted to Chief Financial Officer, effective August 20, 2024, after serving as VP of Finance since 2020. Cyla Apache has been promoted to Vice President of Finance, bringing over six years of controllership experience and multiple professional qualifications including MBA, MS in Accounting, and CPA designation.
Delwo's previous roles include CFO at Noralta Technologies and Controller positions at various companies. The appointments align with Sky Quarry's growth strategy as a Nasdaq-listed company focused on waste asphalt shingle recycling.
Sky Quarry Inc. (NASDAQ: SKYQ), an integrated energy solutions company focused on waste asphalt shingle recycling, will participate in The ThinkEquity Conference on October 30, 2024, at the Mandarin Oriental Hotel in New York City. Founder and CEO David Sealock will conduct one-on-one meetings and deliver a presentation at 12:30 pm ET in the Boardroom.
The company will discuss its recent Nasdaq listing and its ECOSolv technology, which can recover materials and oil from waste asphalt shingles typically sent to landfills. Interested parties can schedule meetings through conference representatives or by contacting SKYQ@mzgroup.us. For more information about Sky Quarry, visit skyquarry.com.
Sky Quarry Inc. (NASDAQ: SKYQ), an integrated energy solutions company focused on waste asphalt shingle recycling, has announced it will ring the Nasdaq closing bell on Friday, October 25, 2024. This event celebrates the company's recent listing on the Nasdaq Exchange and highlights its mission to repurpose and upcycle millions of tons of asphalt shingle waste.
CEO David Sealock, along with Co-Founder Marcus Laun and CFO Darryl Delwo, will participate in the ceremony. The live broadcast will begin at 3:45 p.m. Eastern Time. Following the event, management will take part in a Behind the Bell interview and conduct investor meetings and media interviews in New York City from October 24-25, 2024.
Sky Quarry Inc. (NASDAQ: SKYQ) has announced an exploratory partnership with Atlas Roofing to assess and develop processes for asphalt shingle recycling. The collaboration aims to utilize Sky Quarry's closed loop recycling process and proprietary shingle extraction technology to recover materials and oil from Atlas' waste shingles.
Sky Quarry's ECOSolv technology has shown promising results in lab testing, with material recovery rates of up to 95%, solvent recycling of up to 99%, and hydrocarbon recovery of up to 99%. This partnership is expected to demonstrate how Sky Quarry's sustainable business model can transform the environmental challenge of waste asphalt shingle disposal into a profitable and sustainable prospect.
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