Sky Quarry Enters LOI with Southwind RAS, LLC to Evaluate Strategic Recycling Collaboration

April 10, 2025 at 08:30 AM EDT

WOODS CROSS, Utah, April 10, 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 entered into a non-binding Letter of Intent (LOI) with Southwind RAS, LLC, a long-standing leader in the industry, to explore a strategic collaboration aimed at advancing asphalt shingle recycling in Illinois. The initiative will support Sky Quarry’s national expansion strategy and further its waste-to-energy mission.

Under the terms of the LOI, Sky Quarry and Southwind RAS will jointly evaluate the technical and logistical feasibility of implementing Sky Quarry’s proprietary recycling technologies at Southwind’s nine established facilities in the greater Chicago area. The collaboration will focus on operational modeling, site assessments, and financial structures, with the goal of developing a scalable, modular approach to shingle recycling that creates mutual value and environmental impact.

Expanding Sky Quarry’s Waste-to-Energy Footprint

“We’re excited to explore this relationship with Southwind RAS, a company that shares our deep commitment to sustainability and innovation,” said David Sealock, CEO of Sky Quarry. “This LOI marks a key step forward in Sky Quarry’s national expansion strategy, to intercept waste at the source and convert it into valuable, sustainable materials. By assessing opportunities for regional deployment of our proprietary recycling technology and leveraging Southwind’s infrastructure, experience, and local market presence, we aim to build a scalable model that creates shared value. By scaling locally and executing nationally, Sky Quarry is creating a blueprint for the future of waste-to-energy and materials recovery.”

With the goal of producing high-value byproducts for local and regional markets, the proposed collaboration at Southwind’s facilities is expected to generate materials such as asphalt-coated limestone, sand, granules, glass fibers, bitumen, and ground asphalt shingles, resources that can be repurposed for use in roofing, road repair, sealants, and structural reinforcement applications.

Sky Quarry estimates that approximately 1.2 million tons of asphalt shingle waste are generated annually in the region, material that, if fully recycled, could yield the equivalent of 1.5 million barrels of oil. This underscores both the environmental urgency and the economic opportunity behind Sky Quarry’s recycling technology and the proposed collaboration.

About Southwind RAS, LLC

Founded in 2009 and based in Illinois, Southwind RAS, LLC is a recognized leader in the recycling of residential tear-off asphalt shingles. With nine established locations across the greater Chicago area, Southwind RAS provides essential infrastructure for sustainable waste management in one of the country’s largest urban markets. The company’s mission is to conserve landfill space, reduce the carbon footprint of the construction industry, and replace virgin materials with reclaimed resources. Southwind RAS works directly with roofing contractors, haulers, recycling centers, and asphalt producers to integrate recycled asphalt shingles into hot mix asphalt, advancing green initiatives and promoting circular solutions for the roofing industry.

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 skyquarry.com.

Forward-Looking Statements

This press release may include ''forward-looking statements.'' All statements pertaining to our future financial and/or operating results, future events, or future developments may constitute forward-looking statements. The statements may be identified by words such as “expect,” “look forward to,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project,” or words of similar meaning. Such statements are based on the current expectations and certain assumptions of our management, of which many are beyond our control. These are subject to a number of risks, uncertainties, and factors, including but not limited to those described in our disclosures. Should one or more of these risks or uncertainties materialize or should underlying expectations not occur or assumptions prove incorrect, actual results, performance, or our achievements may (negatively or positively) vary materially from those described explicitly or implicitly in the relevant forward-looking statement. We neither intend, nor assume any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated. You are urged to carefully review and consider any cautionary statements and the Company’s other disclosures, including the statements made under the heading "Risk Factors" and elsewhere in the Company’s Form 10-K as filed with the SEC on March 31, 2025. Forward-looking statements speak only as of the date of the document in which they are contained.

Investor Relations
Jennifer Standley
Director of Investor Relations
Ir@skyquarry.com

Company Website
www.skyquarry.com