(MENAFN- GlobeNewsWire - Nasdaq) “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 80% complete.
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 100% of reusable construction waste be diverted from landfills, while Austin, TX, requires 50% of construction and demolition waste be recycled. Our modular facilities are intended for concurrent build-out, enabling us to establish a national infrastructure that will divert massive quantities of shingle waste from landfills. These facilities position us to provide sustainable and scalable solutions, in line with regulatory and market shifts.”
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 .
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