Sky Quarry Inc.

The company operates the Eagle Springs Refinery, a regional facility that produces diesel, vacuum gas oil (VGO), naphtha, and liquid paving asphalt. The refinery sources crude oil from suppliers in the Uintah basin near Nevada and Utah. The company also has a separate, development-stage division called P.R. Springs. This division focuses on deploying technologies to recycle waste asphalt shingles and remediate oil-saturated sands and soil, aiming to produce sustainable refined crude products. The company has developed a proprietary solvent-based process, referred to as ECOSolv technology or the ECOSolv process, for separating oil from oily sands and other oil-bearing solids. This process uses a closed-loop distillation and evaporation circuit, allowing up to 99% of the solvent to be recovered for continuous reuse and requiring no water. Bench testing, conducted in-house and by unaffiliated third parties in May and August 2022, demonstrated oil separation rates of up to 95% using samples of both mined crushed ore and ground asphalt shingles. The company intends to complete the retrofitting of its oil sands remediation facility in PR Spring, eastern Utah, within twelve months of securing necessary funding. This facility will use ECOSolv technology to recycle waste asphalt shingles, producing and selling oil and asphalt paving aggregate mined from the company's bitumen deposit. The company also plans to develop regional model asphalt shingle recycling facilities. These modular, scalable facilities are designed to remediate waste asphalt shingles and separate them into bitumen/asphalt cement, shingle granules, sand aggregate, limestone, and fiberglass.