Sky Quarry Partners with Atlas Roofing Corp. to Explore Asphalt Shingle Recycling

Rhea-AI Summary

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.

Positive

• Partnership with industry leader Atlas Roofing
• Potential to demonstrate high material and oil recovery rates from waste shingles
• Addressing an environmental challenge with no current sustainable solution

Negative

• None.

Exploratory Relationship Will Assess and Develop Mutually Beneficial Processes for the Recovery of Waste Asphalt Shingle Material and Oil

WOODS CROSS, Utah, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Sky Quarry Inc. (NASDAQ: SKYQ) ("Sky Quarry" or the "Company"), an oil production, refining, and 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, today announced it has entered into an exploratory relationship with Atlas Roofing Corporation (“Atlas”) to assess and develop mutually beneficial processes for asphalt shingle recycling.

Atlas Roofing Corporation is an innovative, customer-oriented manufacturer of residential and commercial building materials. Atlas has grown from a single shingle-manufacturing plant into an industry leader with 33 facilities across North America. Atlas has partnerships with some of North America’s most respected companies, allowing Sky Quarry to provide new technologies to various markets.

Under the partnership, Sky Quarry will collaborate with Atlas to explore the use of its closed loop recycling process and proprietary shingle extraction technology to recover both material and oil from Atlas’ waste shingles. In lab testing, Sky Quarry’s ECOSolv technology has demonstrated a material recovery rate of up to 95%, recycling of up to 99% of its solvent, and recovery of up to 99% of hydrocarbons.

“As a leader in the building products industry, Atlas is an ideal partner to demonstrate our groundbreaking application capable of separating waste shingles into clean oil and other valuable materials,” said David Sealock, Chairman, CEO and Co-Founder of Sky Quarry. “Currently, there are no sustainably viable solutions for the disposal of waste asphalt shingles, and we believe this exploratory relationship will show how our sustainable business model can transform an environmental challenge into a profitable and sustainable prospect. We look forward to working with the team at Atlas to develop mutually beneficial processes for their waste shingles.”

About Atlas Roofing Corporation

From a single asphalt shingle manufacturing facility in 1982, Atlas has grown to 33 manufacturing facilities in North America providing worldwide product distribution. Today, products from the company’s four major divisions, Polyiso Roof & Wall Insulation, Shingles & Underlayments, Molded Products, and Web Technologies, are manufactured in state-of-the-art facilities and shipped from a network of manufacturing plants and distribution facilities in the United States, Canada, and Mexico. Atlas’ mission is to deliver leading products and solutions that enrich the lives of those they touch, by nurturing a culture of agility, teamwork, and accessibility that attracts the most talented people in their industries.

Atlas Roofing Corporation is a wholly owned subsidiary of Hood Companies, Inc. Hood Companies is a privately owned, closely held holding company and is the parent to operating subsidiaries involved in the manufacture and distribution of forest and wood products, building and construction materials, and flexible and corrugated packaging products throughout North America. For more information, please visit atlas-arc.com.

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 www.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 control. These are subject to a number of risks, uncertainties, and factors, including but not limited to those described in 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 other disclosures, including the statements made under the heading "Risk Factors" and elsewhere in the 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

What is the purpose of Sky Quarry's partnership with Atlas Roofing ?

The partnership aims to explore and develop mutually beneficial processes for recycling waste asphalt shingles, recovering both materials and oil using Sky Quarry's proprietary technology.

What are the potential recovery rates of Sky Quarry's ECOSolv technology for shingle recycling?

In lab testing, Sky Quarry's ECOSolv technology has demonstrated material recovery rates of up to 95%, solvent recycling of up to 99%, and hydrocarbon recovery of up to 99%.

How does the Sky Quarry (SKYQ) partnership address environmental concerns?

The partnership aims to provide a sustainable solution for waste asphalt shingle disposal, which currently lacks viable options, potentially transforming an environmental challenge into a profitable and sustainable prospect.