Sky Quarry Inc. (NASDAQ:SKYQ) announced on September 11 that co-founder Marcus Laun has been appointed interim chief executive officer.
Laun has more than 25 years of experience in capital markets and has held senior finance roles while advising on projects tied to digital assets, including tokenization and exchange development. In his interim role, he will steer the company toward sustainable operations while pushing forward its so-called digital treasury strategy.
“I am both excited and encouraged by the opportunities ahead,” Laun said in a statement. “Our integrated business model, combining recycling, refining, and digital assets, positions us to deliver both environmental and financial innovation.”
Headquartered in Woods Cross, Utah, Sky Quarry runs an integrated energy platform that spans three core assets: the PR Spring site in Utah with oil sands resources, the Foreland Refinery in Nevada, and proprietary technology that processes discarded asphalt shingles. The firm estimates more than 15 million tons of shingles are thrown away annually in the U.S., equal to about 22 million barrels of oil.
Laun also noted that the company will explore blockchain applications and potential tokenization of assets under its digital treasury initiative. These efforts are intended to expand financing options and help reduce borrowing costs, the company said.
Sky Quarry defines itself as a development-stage environmental remediation and oil production company, with a focus on recycling waste asphalt shingles and treating oil-saturated materials.
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