Sky Quarry

About Sky Quarry

Sky Quarry Inc. is an integrated energy solutions company focused on recycling waste asphalt shingles (WAS) and remediating oil-saturated sands. Founded in 2019 by David Sealock and Marcus Laun, the company addresses the environmental challenge of the millions of tons of asphalt shingles that end up in landfills annually. Co-founder and CEO David Sealock has over 30 years of experience in strategic management and leadership within the energy sector, including roles at Petroteq Energy, Chevron, and Total. The idea for Sky Quarry originated from Sealock's work at the Petroleum Technology Alliance Canada (PTAC), where he explored more efficient, solvent-based oil extraction methods. The company went public on the Nasdaq (SKYQ) in October 2024.

The company's core technology is a proprietary, closed-loop process called ECOSolv, which uses a special solvent to dissolve and extract asphalt bitumen from shingles. This method recovers up to 99% of hydrocarbons and recycles up to 99% of the solvent used. The process separates the shingles back into their primary components: liquid asphalt (bitumen), sand, limestone powder, granules, and fiberglass. These recovered materials create multiple revenue streams. The primary business model involves charging tipping fees for accepting waste shingles, which helps cover processing costs, and then selling the extracted bitumen and other solid materials to various markets, including the paving and construction industries.

To execute its strategy, Sky Quarry has made key acquisitions. In 2020, it purchased the PR Spring facility in Utah, an oil sands extraction plant, for $3.5 million. This facility is being retrofitted to process both waste asphalt shingles and oil sands. In 2022, the company acquired the Foreland Refining Corporation's Eagle Springs Refinery in Nevada, which generated over $50 million in revenue in 2023. This vertical integration allows Sky Quarry to refine the reclaimed oil from PR Spring and produce end products like diesel and asphalt paving liquid. The company is also developing a network of smaller, modular recycling units to source shingle feedstock regionally, creating partnerships with roofing and construction companies like Atlas Roofing Corp.