Sky Quarry Inc Dossier
Qualitative Analysis
Business overview
Sky Quarry Inc. (NASDAQ: SKYQ) is an environmental technology and resource-recovery company focused on the sustainable recycling of waste asphalt shingles (WAS) and the remediation of oil-saturated sands and soils. Incorporated in Delaware in 2019, the company utilizes its proprietary ECOSolv closed-loop extraction technology to divert millions of tons of roofing waste from landfills, separating hydrocarbon-rich materials into clean, sustainable oil and aggregate products. Sky Quarry operates as an integrated energy solutions provider, owning the Foreland Eagle Springs Refinery in Nevada, which has a daily processing capacity of 5,000 barrels per day (bpd) to convert heavy crude oil into diesel, petroleum products, vacuum gas oil (VGO), and paving asphalt liquids. Additionally, the company holds a 100% undivided interest in asphalt bitumen exploration leases covering approximately 5,930 acres in the PR Spring region of Utah.
Research as of 20 Jun 2026
Strategic Initiatives
Growth programs, investments, and their expected impact
Completing boiler repairs, heating system upgrades, water treatment, and emissions performance refurbishments at the 5,000 barrels-per-day Foreland Refinery to resume production.
Expected impact: Restoration of revenue streams and optimization of refining margins in a constrained Western U.S. fuel market.
Issuing a Request for Proposals (RFP) to engage strategic partners to accelerate the development and commercialization of the 180-million-barrel PR Spring oil sands asset in Utah.
Expected impact: Accelerated development of the 5,930-acre permitted asset and potential integration of heavy oil feedstock into the Foreland Refinery.
Launching a crude oil drilling and production initiative in Nevada's Railroad Valley to develop local oil prospects.
Expected impact: Secures locally sourced crude feedstock to refine at the Foreland Refinery, boosting utilization and local fuel supply.
Mergers, Acquisitions & Partnerships
Recent deals and strategic collaborations
Recent Acquisitions
To create a vertically integrated business division capable of refining heavy crude oil and oil recovered from waste asphalt shingles into sustainable diesel and other petroleum products.
Financial impact: Historically contributed the majority of the company's revenue, though impacted by outages in late 2025 and early 2026.
Strategic Partnerships
Establishes a three-year collaboration focused on fuel innovation, refinery integration, and low-carbon fuel development, including pilot-scale validation of Sustainable Aviation Fuel (SAF) and recycled-hydrocarbon blends.
Terms: Non-binding multi-party agreement; specific financial terms not disclosed.
Focuses on planning the deployment of Sky Quarry's proprietary shingle recycling equipment and ECOSolv technology at R & R's permitted site in Albuquerque, New Mexico.
Terms: Non-binding; targets processing 100,000 tons of waste annually to generate collection fees and product sales.