Sky Quarry Signs LOI with R & R Solutions to Explore Expansion of Southwest Operations and Accelerate Market Deployment
“Creating an Attractive Entry Point to Advance Commercialization and Strengthen its National Scale-up Efforts.”
WOODS CROSS, Utah, May 08, 2025 (GLOBE NEWSWIRE) -- Sky Quarry Inc. (NASDAQ: SKYQ) ("Sky Quarry" or "the Company"), an integrated energy solutions company committed to revolutionizing the waste asphalt shingle recycling industry, today announced that it has signed a non-binding Letter of Intent (LOI) with R & R Solutions Inc., the only permitted asphalt shingle recycler in New Mexico. The LOI represents a strategic step in Sky Quarry’s plan to expand its national network of modular waste-to-energy facilities and unlock new revenue opportunities in the Southwest.
The proposed partnership will focus on planning the deployment of Sky Quarry’s proprietary equipment, mechanical processes, and intellectual property (IP) at R & R Solutions’ existing permitted site in Albuquerque, New Mexico. If implemented, the proposed project will support the production of high-value byproducts, including asphalt-coated limestone, sand, granules, bitumen, and structural-grade ground shingles for use in roofing, road repair, sealants, and other infrastructure applications.
As part of Sky Quarry’s differentiated business model, the Company expects to generate revenue both from accepting asphalt shingle waste and from selling the recovered byproducts. At the proposed New Mexico site, Sky Quarry estimates that approximately 100,000 tons of asphalt shingle waste could be processed per year and believes that this could generate substantial annual revenue from collection fees and the sale of recycled materials such as granules and sand. The Company also believes that the feedstock could yield the equivalent of up to 150,000 barrels of oil when fully refined, representing additional potential revenue.
“The opportunity to collaborate with R & R Solutions and build on an existing permitted site creates an attractive entry point for strengthening our national scale-up efforts and advancing commercialization,” said David Sealock, CEO and Chairman of Sky Quarry. “The Albuquerque region presents a particularly compelling opportunity due to its proximity to our PR Spring facility in Utah, which will serve as a regional hub for hydrocarbon extraction. Upon reaching an agreement with R&R Solutions based on the LOI, we believe that leveraging existing infrastructure and integrating operations across both sites will accelerate deployment, reduce capital intensity, and improve supply chain logistics for recovered oil products, efficiencies that we believe will drive stronger margins and long-term value.”
Founded in 2013, R & R Solutions brings over a decade of experience as a leader in responsible recycling practices and is deeply integrated into the New Mexico construction ecosystem. “The proposed partnership with Sky Quarry will mark a strategic step forward for R & R Solutions,” said Jerry Daniele, Vice President of R & R Solutions. “We’ve built a strong foundation as the region’s only permitted shingle recycler, and we believe that this collaboration will give us the tools to expand our capabilities, accelerate growth, and deliver broader impact. It will allow us to scale the value we provide to customers and communities across New Mexico and move beyond traditional recycling into large-scale resource recovery, driving meaningful economic impact in the region.”
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 .
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Investor Relations
Jennifer Standley
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