Sky Quarry just issued a press release with an important annoucement…
Thanks to the success of its Regulation A+ offering hosted on Equifund, Sky Quarry has raised sufficient funds to begin retrofitting their PR Spring facility.
“Our state-of-the-art PR Spring facility was originally designed to extract bitumen from oil sands. However, thanks to our proprietary technology, we are confident we can retrofit the facility to extract bitumen from waste asphalt shingles utilizing a waterless solvent system,” said David Sealock, CEO of Sky Quarry.
Asphalt shingles cover approximately 80% of all residential roofs in America.
Each year around 13 million tons are shipped off to landfills where they contribute to potentially major environmental issues. This includes leaching of toxic waste into groundwater and top soil. It is estimated that 700 million tons of waste asphalt shingles already exist in landfills today.
Sky Quarry’s patented process breaks down and recycles waste asphalt shingles into valuable, in-demand materials such as bitumen. Bitumen is a highly viscous form of oil and a key ingredient in refining diesel and hot-mix asphalt used in road construction.
Testing-to-date demonstrates the Company’s technology has the potential to convert every ton of waste asphalt shingles into the equivalent of 1.5 barrels of oil.
“We are extremely excited to announce that we have successfully hit our first fundraising goal and the retrofitting process at PR Spring has begun,” said Sealock.
“We expect construction to take approximately five months and for the facility to be operational by year end. This marks a major milestone for our company and is a big step towards commercialization.”
Sky Quarry is a “Clean Tech” company dedicated to solving the environmental problems caused by waste asphalt shingles.
For investors looking to invest in companies addressing climate change, recycling waste asphalt shingles presents an opportunity to not only remove hydrocarbons from the environment and impact climate change…
But to do it in a way that may potentially support a sustainable recycling market and potentially generate returns for investors.
Get the full details on Sky Quarry’s Offering here.
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