Sky Quarry Inc. (NASDAQ: SKYQ), an integrated energy solutions company committed to revolutionizing the waste asphalt shingle recycling industry, has released a letter to shareholders highlighting its key achievements in 2024 and outlining its strategic focus for the coming year. As an investor, I am thrilled to see the progress Sky Quarry has made and the potential it holds for long-term growth.



In 2024, Sky Quarry made significant strides in its mission to transform waste asphalt shingles into valuable, sustainable resources. Some of the company's most notable accomplishments include:

1. NASDAQ Listing: Sky Quarry successfully listed on the NASDAQ Stock Market under the ticker symbol 'SKYQ' on October 10, 2024. This move increased the company's corporate visibility, improved liquidity, and raised awareness in the financial markets. It also allowed Sky Quarry to access a larger pool of investors, enabling it to raise capital more easily for expansion and growth initiatives.
2. Public Offering: Sky Quarry completed a public offering, raising $6.7 million through the sale of 1,118,005 shares of Common Stock. This funding will support the company's growth and expansion plans.
3. Capital Expenditure (CapEx) Program: Sky Quarry successfully completed its 2024 CapEx program for PR Spring, its flagship hydrocarbon extraction facility. This facility will connect Sky Quarry's upstream and downstream operations, supplying sustainably produced heavy crude oil to its Foreland Refinery.
4. Refinery Improvements: Sky Quarry made key strategic improvements to its Foreland Refinery in Nevada, optimizing its production capacity. These upgrades included an overhaul of the primary and secondary boilers and the completion of 24 work packages. The refinery is expected to produce up to one million barrels of sustainable oil annually.
5. Partnership with Atlas Roofing Corporation: Sky Quarry partnered with Atlas Roofing Corporation to explore the use of its closed-loop recycling process and proprietary shingle extraction technology to recover both material and oil from Atlas' waste shingles. This partnership demonstrates Sky Quarry's groundbreaking application capable of separating waste shingles into clean oil and other valuable materials.
6. Appointment of Key Executives: Sky Quarry strengthened its finance leadership with the appointment of Darryl Delwo as Chief Financial Officer. This move will support the company's next phase of growth as a listed public company.