In just 36 months, we have acquired two substantial processing facilities: a cutting-edge oil extraction facility in Utah with significant hydrocarbon resources, and a 5,000 barrel a day oil refinery in Nevada.
These acquisitions provide us with an integrated capability from extraction to refining and will allow us to blend our recycled waste asphalt shingle oil with crude oil, producing diesel, vacuum gas oil, naphtha and asphalt paving liquids. This strategy will not only minimize our reliance on natural resources but will help decrease waste, enhance energy efficiency and foster a system of perpetual circular integration that supports long-term economic viability.
UTAH
Acquired in 2020, the PR Spring facility is situated on nearly 6,000 acres of land with an estimated resource of approximately 180 million barrels of hydrocarbon resources. Liquid asphalt is the foundation for our waste-asphalt-shingle recycling, processing and blending operations. This acquisition ensures that we can achieve the quality we need to provide top-tier infrastructure products like asphalt- paving oil and diesel fuel.
NEVADA
In October 2022, Sky Quarry purchased Foreland Refining Corporation, which is engaged in the refining of heavy crude oil into diesel and other petroleum products at its Eagle Springs Refinery located near Ely, Nevada. With annual revenues of over $50 million, the acquisition of this refinery is immediately accretive to our revenues and provides a strong base for growth.
Eagle Springs has historically processed approximately 485,000 bbls of oil annually and management plans to commission the refinery to process the waste oil from the PR Spring facility, aiming to boost production to one million bbls of sustainable oil per year.
EXPANSION
Sky Quarry is in the process of establishing smaller self-contained facilities nationwide that will receive and process asphalt shingle waste in areas with the largest concentration of the material and have the highest “tipping fees”.
Each modular facility will provide up to 100,000 tons of asphalt shingle feedstock annually to the Utah facility where it will be processed.
The goal is to attain projected revenues of up to $5 million per facility, with a 2-year payback period of all capital and fixed costs. We plan to achieve this by leveraging the modular design of the recycling facilities, enabling simple business scalability and rapid deployment.
Mr. Zickell has over 40 years of experience in the roofing industry, beginning as a self-employed roofer before joining Owens Corning and later GAF, where he managed multiple roofing and fiberglass mat plants. He became VP of Manufacturing and Engineering at GAF, overseeing significant operations and earning the Chairman’s Award for his contributions.
Tom went on to lead Georgia Pacific’s roofing division and founded NEI, a successful self-adhesive roofing underlayment manufacturer. He developed a patented method for recycling shingles and later founded ARI, RAS-Tech, and RTI, securing multiple recycling patents and partnering with Sky Quarry to advance shingle recycling technology.
Tom has a BA in Political Science from Assumption University, an Economics degree from State University at Albany, and an MBA from Suffolk University.
Jennifer Standley has over 15 years experience building and leading startups in a variety of industries. Specializing in marketing and business development, she has played a pivotal role in streamlining operations, enhancing brand awareness, and boosting overall revenues for several direct-to-consumer sectors, particularly in the organic food industry.
She is passionate about advancing better environmental practices—be it through the promotion of organic foods for kids or contributing to Sky Quarry’s journey towards environmental sustainability.
Jennifer has a BA in Business Management and Humanities from Brigham Young University and a Professional Designation, AA degree in Design & Visual Communications from the Fashion Institute of Design & Merchandising.
Cyla Apache is a highly motivated corporate controller, experienced in building, leading, and developing dynamic teams, with significant experience implementing software and developing efficient workflows. She also has an extensive background in tax law, enjoys both the financial and operational side of business, and has proven that an accounting department can contribute to the revenue and profitability of a company.
Cyla has successfully completed both an MBA, and an MS in Accounting. She also holds a CPA designation from the California State Board of Accountancy, along with an Enrolled Agent designation from the IRS.
Darryl Delwo has over 25 years’ experience building and leading finance teams in global companies with significant operating scale and complexity. He has held senior positions in high growth public and private firms, providing strategic oversight to finance and operations, including $150mm of M&A activity, and joint venture and refinancing transactions.
Darryl has a BC in Accounting and Business Management from University of Calgary, holds CMA and CPA designations from CMA and CPA Alberta, and a Controllership Certificate from the Institute of Chartered Accountants of Alberta.
Marcus Laun has spent the past twenty years as a founding principal or senior advisor to over fifteen publicly and privately held companies. His experience includes advising and investing Nurture, Inc. an organic baby food company which eventually sold to Group Danone for $250mm.
Marcus is also founder and CEO of GrowthCircle.com and Geopulse Exploration Inc., a media company specializing in the production and distribution of short films for corporate clients. He also has advised and raised capital for companies in the solar, wind, oil, gas, and alternative fuel industries.
As Managing Director of Knight Capital Group (the largest market-maker of equities in the US)., he oversaw syndicates for over $300 million in financing.
He has a BS in Hotel Management from Cornell University, and an MBA from Columbia University.
David Sealock is a highly accomplished, results-driven senior executive leader with over 30 years of strategic management and business leadership. He has a track record of building high-performing teams with a strong focus on setting corporate strategy, executing over $1.2Bn in equity and debt transactions, joint ventures and M&A deals.
David served as CEO of Petroteq Energy, President of Autus Ventures, Vice President Technology – Petroleum Technology Alliance Canada; President & COO of Sulvaris; President & CEO of Sunshine Oilsands; EVP of MegaWest Energy; & has held senior management positions with Deer Creek Energy, CNRL, Petrovera Resources, Total, and Chevron.
David has a BS in business management and is a Registered Engineer with the Alberta Society of Engineering Technologist (ASET).