Partnership Announcement: Sky Quarry Inc. has signed a Memorandum of Understanding with Continuum Network to explore the representation of its commodities in blockchain-enabled markets.
Focus Areas: The collaboration will assess technical, regulatory, and commercial aspects of creating a secure framework for resource-linked commodity tokens, including platform architecture and smart contract design.
Tokenization Potential: Sky Quarry aims to leverage tokenization of non-cash assets to unlock significant working capital in the energy sector, which is essential for scaling energy supply in the U.S.
Future Developments: Sky Quarry continues to focus on recycling waste asphalt shingles while exploring digital asset strategies, with plans for a webinar to introduce their approach to potential investors.
Sky Quarry Inc. is an integrated energy solutions company. The Company and its subsidiaries are engaged in oil production, refining, and a development-stage environmental remediation, which is formed to deploy technologies to facilitate the recycling of waste asphalt shingles and remediation of oil-saturated sands and soils. It focuses on converting waste into sustainable oil and other resources. It has a daily production capacity of 5,000 barrels per day (bpd). The Company’s refinery converts heavy crude oil into diesel and a range of other valuable petroleum products, including naphtha, vacuum gas oil, and paving asphalt liquids from sustainable feedstock. It owns two substantial processing facilities: an oil extraction facility with significant hydrocarbon resources, and an oil refinery in Nevada. Its closed loop recycling process recovers both material and oil, using its proprietary extraction technology. Its subsidiaries include 2020 Resources (Canada) Ltd. and 2020 Resources LLC.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
