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SKY QUARRY INC (NASDAQ: SKYQ) is an integrated energy solutions company founded in 2018 and headquartered in Woods Cross, Utah. The firm applies proprietary ECOsolve™ technology to recycle waste asphalt roofing shingles—an industry stream that sends approximately 15 million tons of material to North American landfills each year—into valuable petroleum products and construction aggregates. SKY QUARRY operates two primary processing facilities: an oil extraction plant for recovered hydrocarbons and the Foreland Refinery in Nevada, which has a daily capacity of 4,500 to 5,000 barrels per day of heavy crude conversion into diesel, naphtha, vacuum gas oil, and paving asphalt.
Corporate Structure
With 11 to 50 employees, SKY QUARRY maintains a streamlined organizational model. Marcus Laun, Co-Founder and Interim Chief Executive Officer, leads the company’s strategic and digital initiatives. The executive team includes Tom Zickell, who has extensive experience in the roofing industry and holds multiple recycling patents; Jennifer Standley, head of marketing and business development; Cyla Apache, Corporate Controller and CPA; and Darryl Delwo, Vice President of Finance with over 25 years of experience in finance leadership.
Asphalt Recycling by Carl Campbell
Developments and News
- On August 29, 2025, SKY QUARRY hosted a live investor webinar to introduce its digital treasury strategy, discussing how tokenization and blockchain could enhance traditional energy asset valuations.
- The company signed a Memorandum of Understanding (MOU) with Continuum Network in August 2025 to assess frameworks for real-world commodity tokenization.
- On September 17, 2025, shareholders were asked to approve an increase in authorized common shares from 100 million to 2 billion and granted the Board authority for a reverse stock split of up to 1 for 25.
- The company’s S-1 registration statement was declared effective on September 23, 2025, allowing for additional securities offerings.
- On September 25, 2025, SKY QUARRY filed a 424B3 prospectus outlining up to 14,517,227 shares of common stock and associated warrants, with potential gross proceeds of $8.125 million under its purchase agreement with Varie Asset Management, LLC.
Financial and Strategic Analysis
At market close on September 29, 2025, SKYQ shares traded at $0.6316, reflecting a 39.33% increase on a volume of 28.56 million shares. Over the trailing twelve months:
- Revenue stood at $19.91 million, with a net loss of $14.25 million and diluted EPS of –$0.64.
- Profit margin was –71.55%, return on assets was –23.35%, and return on equity was –161.23%.
- The stock’s 52-week range is $0.3910 to $5.4900, with a price/sales ratio of 0.46 and price/book ratio of 1.19.
- Enterprise value is approximately $19.49 million against a market cap of roughly $15.93 million and total cash of $173,790.
Strategically, SKY QUARRY’s capital structure is being adjusted through convertible notes, warrant issuances, and equity offerings to fund growth at its Nevada refinery and support the expansion of its closed-loop recycling facilities. Partnerships in digital treasury and commodity tokenization aim to diversify funding sources and manage liquidity.
Market Position and Industry Context
The U.S. reroofing market disposes of around 15 million tons of asphalt shingles annually, which equates to the potential recovery of 20 to 22 million barrels of oil. SKY QUARRY’s technology seeks to address this environmental challenge by converting waste shingles into feedstock for petroleum products and construction materials. Within the renewable energy and waste-to-energy sector, the company encounters limited direct competition in large-scale shingle recycling, positioning it as a niche player. Key demand drivers include tightening fuel supplies in Western states and increasing interest in sustainable infrastructure inputs.
tl;dr
SKY QUARRY (NASDAQ: SKYQ) shares increased 39.33% on September 29, 2025, amid ongoing capital-raising efforts and developments in digital finance. Key events from August to September 2025 include an investor webinar on August 29, an MOU on commodity tokenization, proxy proposals on September 17, S-1 effectiveness on September 23, and a 424B3 filing on September 25 for up to 14.5 million new shares. The company is leveraging equity and warrant issuances to fund its Nevada refinery expansion and closed-loop recycling rollout while exploring blockchain-based treasury strategies to enhance liquidity and investor access.
