Sky Quarry

What Sky Quarry does

Sky Quarry Inc. (NASDAQ: SKYQ) is an integrated energy and environmental services company founded in 2019 and headquartered in Woods Cross, Utah. The company's core proposition is converting landfilled waste asphalt shingles into refined petroleum products and recovered raw materials, addressing an estimated 15 million tons of annual US shingle waste that represents 20-22 million barrels of recoverable oil. Sky Quarry monetizes this through tipping fees ($45-$120/ton), recycled material sales (~$260/ton across bitumen, fibers, limestone, sand, and granules), and refined fuel sales across the Western US.

The technology backbone is ECOSolv, a proprietary solvent-based, closed-loop extraction process protected by patent, which achieves up to 95% material recovery and 99% solvent recycling while operating at low temperatures with minimal water consumption. Sky Quarry operates two wholly-owned facilities: the PR Spring oil sands and extraction site in Utah's Uinta Basin (~5,900 acres, estimated 180 million barrels of hydrocarbon resources, acquired 2020) and the Foreland Refinery in Ely, Nevada (40-acre site, 3,600 bpd current throughput, 5,000 bpd permitted capacity, acquired October 2022, Nevada's only operating refinery). ECOSolv is also slated for deployment at R & R Solutions' New Mexico facility under a May 2025 LOI.

Sky Quarry sells diesel, naphtha, vacuum gas oil (VGO), and paving asphalt to fuel distributors and end users in Nevada, Utah, Southern California, and Idaho via direct enterprise sales, and is pursuing adjacent revenue lines including sustainable aviation fuel (via May 2026 MOUs with Southern Energy Renewables and DevvStream), 7 MW of surplus turbine power generation at PR Spring, and digital-asset tokenization of energy reserves (Continuum partnership, October 2025). The company is publicly traded on Nasdaq, has raised approximately $29.5M from crowdfundings and warrant exercises, completed a 1-for-8 reverse split in March 2026 to maintain listing compliance, and serves a horizontal mix of fuel distributors, construction/paving firms, and roofing/waste management counterparties.

Name

Sky Quarry

Legal name

Sky Quarry Inc.

Website

https://skyquarry.com

Company type

Public

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Sky Quarry Inc. (NASDAQ: SKYQ) is an integrated energy and environmental services company that converts waste asphalt shingles into refined petroleum products using its proprietary ECOSolv solvent-extraction technology. It operates the Foreland Refinery in Nevada and the PR Spring oil sands facility in Utah, selling diesel, naphtha, VGO, and asphalt to Western US distributors.

Ownership category

akta.pro rank

Product category

Waste Recycling & Petroleum Refining

NAICS

Construction Sand and Gravel Mining (212321), Oil and Gas Extraction (2111), Mining, Quarrying, and Oil and Gas Extraction (21)

SIC

Petroleum Refining (2911), Crude Petroleum & Natural Gas (1311), Mining & Quarrying Of Nonmetallic Minerals (No Fuels) (1400)

akta.pro primary industry

Construction Aggregates Mining & Processing (Sand, Gravel, Crushed Stone) (IMADAAAI)

akta.pro secondary industries

Sand & Gravel Extraction & Processing (IMAKAHAB), Well Construction & Completion Services (Cementing, Casing, Tubular Running) (EUALABAC)

Keywords

• Waste asphalt recycling
• Petroleum refining
• Oil sands extraction
• Solvent extraction technology
• Sustainable fuel production

Headquarters

HQ city

Salt Lake City

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Infrastructure, Personnel, Technology or R&D

Revenue model

1. Refined Petroleum Products Sales: Foreland Refinery produces and sells diesel, naphtha, vacuum gas oil (VGO), and paving asphalt liquids from heavy crude oil and waste-derived heavy oil. Products are sold to customers across Southern California, Nevada, Utah, and Idaho in the Southwestern and Rocky Mountain regions.
2. Tipping Fees: The company receives payment to accept waste asphalt shingles. National average tipping fees range from $45 to $120 per ton, with expected growth of 8% annually. These fees are anticipated to cover most, if not all, processing and breakdown costs.
3. Recycled Material Sales: Every ton of recovered asphalt shingles yields approximately $260 in product value including: Bitumen ($93), Fibers ($100), Limestone Powder ($22.50), Sand ($20), and Granules ($30). These are sold on the national infrastructure products market.
4. Sustainable Aviation Fuel (SAF) Development: Strategic pivot toward low-carbon fuel production including sustainable aviation fuel through MOU partnerships, targeting the fast-repricing SAF market in alignment with federal policy incentives.
5. Power Generation: Monetization of 7 MW surplus turbine generation capacity at PR Spring facility through potential power purchase agreements or leases at approximately $0.05 per kilowatt hour.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Sky Quarry operates an integrated energy platform combining proprietary ECOSolv closed-loop solvent extraction technology with two processing facilities: the PR Spring oil extraction facility in Utah (approximately 180 million barrels of hydrocarbon resources on ~6,000 acres) and the Foreland Refinery in Nevada (Nevada's only active refinery, ~3,600 BPD current throughput). The company accepts waste asphalt shingles, extracts bitumen and aggregates through ECOSolv, and refines heavy crude oil into diesel, naphtha, vacuum gas oil (VGO), and paving asphalt products sold to fuel distributors and construction firms across the Western U.S.

Product overview

Sky Quarry is an integrated energy solutions company that operates a platform combining proprietary ECOSolv extraction technology with two processing facilities. The core platform consists of the ECOSolv Technology for solvent-based extraction from waste asphalt shingles, the PR Spring Facility in Utah for hydrocarbon extraction from oil sands and shingle waste, and the Foreland Refinery in Nevada for refining crude and recycled heavy oil into petroleum products (diesel, naphtha, VGO, asphalt). The company also pursues strategic partnerships for technology deployment and sustainable aviation fuel development.

Differentiator

Problem solved

Functional benefit

Brands

• ECOSolv: Proprietary solvent technology that recovers up to 95% of hydrocarbons, recycles up to 99% of solvent, and extracts up to 99% of bitumen from waste asphalt shingles through an eco-friendly closed-loop process.

Products and services

• ECOSolv Recycling Technology Proprietary closed-loop solvent extraction technology that recycles waste asphalt shingles, recovering up to 95% of hydrocarbons and recycling up to 99% of solvents used. Sold/licensed for deployment at third-party shingle recycling facilities (e.g., R & R Solutions in New Mexico).
• Refined Petroleum Products Refined petroleum products including diesel, naphtha, vacuum gas oil (VGO), and paving asphalt liquids produced from heavy crude oil and waste-derived heavy oil. Sold to fuel distributors and end users across Southern California, Nevada, Utah, and Idaho.
• Recycled Aggregate Materials Recovered materials from waste asphalt shingles including bitumen, fibers, limestone powder, sand, and granules. Sold on the national infrastructure products market to construction and paving companies for use in regional infrastructure projects.
• Waste Asphalt Shingle Disposal Services Waste asphalt shingle disposal service where the company accepts waste material and charges tipping fees ($45-$120/ton nationally). Provides feedstock for ECOSolv processing and recycling operations while generating revenue offsetting processing costs.

Quantifiable outcome

• 95% material recovery rate and 99% solvent recycling rate using ECOSolv technology
• +6 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Six partnerships are on record, tiered minor and core.

• Grant Canyon Oil & GasminorChannel Partner/ Reseller/ Distributor · 3 June 2026Regional Nevada crude oil producer working with Sky Quarry to bring additional wells online and expand local refining capacity at Foreland Refinery. Supports company's initiative to increase local crude supply amid tightening Western US fuel supply conditions.
• Saddle Rim EnergyminorChannel Partner/ Reseller/ Distributor · 3 June 2026Regional Nevada crude oil producer collaborating with Sky Quarry to bring additional wells online and expand local refining capacity at Foreland Refinery. Part of company's strategy to leverage regional crude production amid California refinery closures.
• Southern Energy Renewables Inc.coreStrategic or Co-development Partner · 7 May 2026Three-year non-binding MOU signed May 7, 2026 for fuel innovation, refinery integration, and low-carbon fuel development including sustainable aviation fuel (SAF) and specialty fuels. Southern provides scalable fuel development platforms and SAF technology expertise. Positions Foreland Refinery and PR Spring facility for evolution into next-generation fuel production hub.
• DevvStream Corp.coreStrategic or Co-development Partner · 7 May 2026Three-year non-binding MOU signed May 7, 2026 for collaboration on fuel innovation and low-carbon fuel development. DevvStream provides carbon management and environmental attribute monetization expertise to support SAF production and carbon credit opportunities for Sky Quarry's operations.
• ContinuumminorStrategic or Co-development Partner · 22 October 2025Partnership to develop platform for tokenizing energy-linked commodities including energy reserves and infrastructure. Aims to enhance liquidity and investment access in the energy sector through digital asset technology, potentially unlocking significant capital and improving financial flexibility.
• R & R Solutions Inc.minorStrategic or Co-development Partner · 8 May 2025Non-binding Letter of Intent signed May 8, 2025 to deploy Sky Quarry's proprietary recycling technology at R & R Solutions' facility in Albuquerque, New Mexico. R & R Solutions is the only permitted asphalt shingle recycler in New Mexico. Proposed project aims to process approximately 100,000 tons of asphalt shingle waste annually, potentially recovering equivalent of up to 150,000 barrels of oil and generating revenue from waste collection fees and recycled byproducts.

Scale indicators18 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Aemetis: Aemetis (AMTX) is a renewable fuels company producing ethanol and renewable diesel from waste feedstocks, with operations concentrated in California and the Western US. It is directly comparable to Sky Quarry in its integrated waste-to-fuels model, focus on low-carbon fuel regulatory incentives, and California-adjacent geographic exposure.
• PBF Energy: PBF Energy (PBF) operates mid-continent and East/West Coast refineries producing gasoline, distillates, and asphalt. It is directly comparable as a smaller independent US refiner focused on regional fuel supply, with similar exposure to crack spreads and refining margin dynamics as Sky Quarry's Foreland Refinery.
• HF Sinclair: HF Sinclair (DINO) is a US independent refiner and marketer with Western US refining presence and a renewable diesel segment. It is directly comparable to Sky Quarry in refining scale (mid-sized US operations), Western US fuel market exposure, and strategic positioning around renewable/lower-carbon fuels.
• Delek US Holdings: Delek US Holdings (DK) operates small-to-mid scale US refineries producing gasoline, diesel, and asphalt, with a focus on regional markets. It is directly comparable to Sky Quarry in refinery scale, product mix (including asphalt), and exposure to regional refining economics in non-major refining hubs.
• R & R Solutions Inc. R & R Solutions is the only permitted asphalt shingle recycler in New Mexico and a Sky Quarry partner. It is directly comparable as a regional waste asphalt shingle recycling operator, sharing feedstock characteristics and end markets with Sky Quarry's ECOSolv-enabled recycling operations.

Emerging players

• Gevo: Gevo (GEVO) is a renewable fuels company developing sustainable aviation fuel (SAF) and low-carbon hydrocarbons from renewable feedstocks. It is comparable to Sky Quarry's SAF pivot through MOUs with Southern Energy Renewables and DevvStream, sharing focus on federal low-carbon fuel incentives and carbon credit monetization.
• LanzaTech: LanzaTech (LNZA) is a carbon recycling company that converts waste gases into ethanol and sustainable aviation fuel using proprietary gas fermentation technology. It is comparable to Sky Quarry in its waste-to-fuels platform approach, focus on SAF, and use of proprietary technology to capture value from waste streams.

Broad incumbents

• Vulcan Materials: Vulcan Materials (VMC) is the largest US producer of construction aggregates including crushed stone, sand, and gravel. It is broadly comparable to Sky Quarry in the aggregate products side of the business (sand, limestone powder, granules from recycled shingles), serving similar construction end markets.
• Martin Marietta Materials: Martin Marietta Materials (MLM) is a major US supplier of aggregates (crushed stone, sand, gravel) and heavy-side building materials. It is comparable to Sky Quarry in construction aggregate production, though at vastly larger scale and serving overlapping infrastructure and construction end markets.
• CEMEX: CEMEX is a global building materials company producing cement, aggregates, and ready-mix concrete with US operations. It is broadly comparable to Sky Quarry's aggregate production and construction materials sales, though operating at global scale across the full building materials value chain.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights6 records

Customer concentration

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Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sky Quarry