Sky Quarry Nears Completion of First Waste Asphalt Shingle Modular Facility
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) annuncia che la sua prima struttura modulare per la lavorazione dei rifiuti di tegole in bitume è completata all'80%, con l'inizio delle operazioni previsto per il 2025, in attesa di finanziamenti per il progetto. La struttura fa parte di una rete pianificata a livello nazionale che integra il sito di estrazione PR Spring di Sky Quarry, che ha una capacità di 2.000 barili al giorno di olio pesante. Ogni unità modulare può elaborare 100.000 tonnellate di materia prima di tegole in bitume all'anno, affrontando i 15 milioni di tonnellate di tegole di scarto generate ogni anno negli Stati Uniti. L'iniziativa mira a sbloccare oltre 22 milioni di barili di potenziale energetico annuale attraverso il recupero sostenibile delle risorse.
Sky Quarry (NASDAQ: SKYQ) anuncia que su primera instalación modular para el tratamiento de tejas de asfalto recicladas está completada en un 80%, y se espera que las operaciones comiencen en 2025, pending la financiación del proyecto. La instalación forma parte de una red planificada a nivel nacional que complementa el sitio de extracción PR Spring de Sky Quarry, que tiene una capacidad de 2,000 barriles por día de petróleo pesado. Cada unidad modular puede procesar 100,000 toneladas de materia prima de tejas de asfalto anualmente, abordando los 15 millones de toneladas de tejas desechadas generadas cada año en los EE.UU. La iniciativa tiene como objetivo desbloquear más de 22 millones de barriles de potencial energético anualmente a través de la recuperación sostenible de recursos.
Sky Quarry (NASDAQ: SKYQ)는 첫 번째 폐아스팔트 슁글 모듈 시설이 80% 완공되었으며, 프로젝트 자금 조달이 완료되면 2025년에 운영을 시작할 예정이라고 발표했습니다. 이 시설은 Sky Quarry의 PR Spring 추출 사이트를 보완하는 계획된 전국 네트워크의 일환으로, 이 사이트는 하루 2,000 배럴의 중유 용량을 가지고 있습니다. 각 모듈 유닛은 매년 100,000 톤의 아스팔트 슁글 원료를 처리할 수 있으며, 이는 미국에서 매년 발생하는 1,500만 톤의 폐슁글에 대한 해결책을 제공합니다. 이 이니셔티브는 지속 가능한 자원 회수를 통해 매년 2200만 배럴의 에너지 잠재력을 확보하는 것을 목표로 하고 있습니다.
Sky Quarry (NASDAQ: SKYQ) annonce que sa première installation modulaire de traitement des bardeaux d'asphalte usagés est achevée à 80 %, avec des opérations prévues pour débuter en 2025 sous réserve du financement du projet. L'installation fait partie d'un réseau national planifié qui vient compléter le site d'extraction PR Spring de Sky Quarry, qui a une capacité de 2 000 barils par jour de pétrole lourd. Chaque unité modulaire peut traiter 100 000 tonnes de matière première de bardeaux d'asphalte par an, répondant aux 15 millions de tonnes de bardeaux usagés générés chaque année aux États-Unis. L'initiative vise à libérer plus de 22 millions de barils de potentiel énergétique par an grâce à la récupération durable des ressources.
Sky Quarry (NASDAQ: SKYQ) gibt bekannt, dass seine erste modulare Anlage zur Verarbeitung von Abfall-Asphalt-Schindeln zu 80% fertiggestellt ist und dass die Betriebsaufnahme für 2025 geplant ist, abhängig von der Projektfinanzierung. Die Anlage ist Teil eines geplanten landesweiten Netzwerks, das die Abbaustelle PR Spring von Sky Quarry ergänzt, die über eine Kapazität von 2.000 Barrel pro Tag schwerem Öl verfügt. Jede modulare Einheit kann jährlich 100.000 Tonnen Schindel-Rohmaterial verarbeiten und adressiert die jährlich in den USA anfallenden 15 Millionen Tonnen Abfall-Schindeln. Die Initiative zielt darauf ab, jährlich über 22 Millionen Barrel Energiepotenzial durch nachhaltige Ressourcengewinnung freizusetzen.
- Facility construction is 80% complete, showing significant progress
- Each modular facility can process 100,000 tons of asphalt shingle feedstock annually
- PR Spring extraction facility has 2,000 barrels per day capacity
- Potential to unlock 22 million barrels of energy annually from waste processing
- Aligns with new regulatory requirements for construction waste recycling
- Operations commencement dependent on securing project financing
- Facility completion and operations delayed until 2025
Insights
The development of Sky Quarry's first modular waste processing facility represents a significant technological and market opportunity. With 80% completion of the initial facility and plans for a national network, the company is positioning itself to capture a substantial share of the 15 million ton annual waste shingle market. The potential to convert this into 22 million barrels of energy products annually presents a compelling revenue opportunity.
The modular approach enables rapid scalability and strategic positioning near waste sources, reducing transportation costs and environmental impact. The integration with the PR Spring facility's 2,000 barrel per day capacity creates a complete value chain. Growing regulatory pressure for construction waste recycling in markets like Pitkin County and Austin provides tailwinds for adoption. However, the project's success hinges on securing project financing before operations can commence in 2025, introducing execution risk.
“Modular by Design” Facility to Ensure Rapid National Expansion and is Poised to Transform the U.S. Waste-to-Energy Landscape
WOODS CROSS, Utah, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Sky Quarry Inc. (NASDAQ: SKYQ) ("Sky Quarry" or "the Company"), an integrated energy solutions company focused on transforming the waste asphalt shingle recycling industry, today announced construction of its first Waste Asphalt Shingle Modular Facility, designed to process waste asphalt shingles in regional markets, is currently
Completion of the first Waste Asphalt Shingle Modular Facility will mark a critical milestone in Sky Quarry’s mission to transform millions of tons of waste shingles headed to U.S. landfills into valuable, reusable resources. The final fabrication and mechanical updates are scheduled alongside the retrofitting at the PR Spring extraction facility in Utah, with operations expected to commence in 2025, upon the completion of required project financing.
The new facility is part of a planned nationwide modular network designed to complement Sky Quarry’s flagship hydrocarbon extraction site, PR Spring, which has a design capacity of 2,000 barrels of heavy oil per day. These modular units can be deployed regionally to intercept waste at the source and efficiently recycle it, helping to address one of the U.S. construction industry's largest waste challenges. Each modular facility will provide up to 100,000 tons of asphalt shingle feedstock annually to the Utah facility where the material will undergo its final processing. By helping to recycle the over 15 million tons of waste asphalt shingles generated annually in the U.S., Sky Quarry is positioned to unlock an untapped energy potential of more than 22 million barrels annually—representing a significant opportunity for sustainable resource recovery.
“We expect the completion our first Waste Asphalt Shingle Modular Facility, and integration to connect our midstream operations to the waste shingle products market, will establish a sustainable supply of base-blending liquid asphalt for our comprehensive waste-to-energy operations,” said David Sealock, CEO of Sky Quarry. “This initiative is incredibly timely, with recent regulatory updates underscoring the need for sustainable waste solutions. For instance, Pitkin County, CO, now mandates that
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 1-A offering statement filed with the SEC. Forward-looking statements speak only as of the date of the document in which they are contained.
Investor Relations
Chris Tyson
Executive Vice President
MZ Group - MZ North America
949-491-8235
SKYQ@mzgroup.us
www.mzgroup.us
Company Website
https://investor.skyquarry.com
FAQ
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