Sky Quarry Applies for Recycling Permit to Launch Integrated Energy Facility in Utah

“Unlocking New Commercial Pathways and Expanding Revenue-Generating Operations”

WOODS CROSS, Utah, June 12, 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 filed a Waste Management Recycling Permit application to Utah regulators. If approved, the permit would allow the Company to operate a combined oil sands extraction and waste asphalt shingle recycling facility at its PR Spring site, unlocking new commercial pathways and expanding revenue-generating operations.

The application is accompanied by a request to the School and Institutional Trust Lands Administration (SITLA), the Utah state agency responsible for managing trust lands on behalf of public education, for approval of a combined permit structure. This would allow Sky Quarry and its wholly owned subsidiary, 2020 Resources, to consolidate shingle processing, heavy oil extraction, and asphaltic sand production under a unified sustainable waste energy development plan.

If approved, the permit would open the door to several operational initiatives at the PR Spring site, including:

• Commercialization of approximately $1 million in asphaltic sand inventory.
• Deployment of the Company’s ECOSolv process to support on-site heavy oil extraction.
• Continued advancement of recycled product development through R&D.
• Demonstration of scalable remediation methods applicable across U.S. markets.

Sky Quarry projects a combined recovery of approximately 10 million barrels over a 15-year period from oil sands and recycled shingles, based on the PR Spring facility’s operating capacity of 2,000 barrels per day.

“This is a critical step in scaling our waste-to-energy platform and creating multiple revenue streams from a single operational footprint,” said David Sealock, Chief Executive Officer and Chairman of the Board of Sky Quarry. “It will allow us to showcase how our blended recycling and extraction model functions at a commercial level.”

The permit application also represents a meaningful step forward in Sky Quarry’s commercial roadmap, aligning with the Company’s long-term vision to integrate recycling and resource recovery. It is expected to:

• Enable early-stage cash flow from asphaltic sand and oil sales.
• Strengthen the Company’s ESG and sustainability profile.
• Enhance the long-term strategic value of its oil sands assets.