Sky Quarry seeks crowdfunding support

Sky Quarry Inc. has launched a web-based crowdfunding effort that will be conducted by its wholly owned subsidiary, Foreland Refining Corp.

Last month, Sky Quarry, based in Woods Cross, Utah, filed a Waste Management Recycling Permit application with Utah regulatory agencies as a step toward building an oil sands extraction and scrap asphalt shingle processing facility in that state.

According to the company, recycled-content petroleum from the planned Utah facility is a candidate to be further processed at its Foreland Refining facility in Nevada.

“Shifting fuel markets across the Western United States are creating a unique opportunity for regional producers,” Sky Quarry says.

The firm says Nevada currently imports approximately 86 percent of its refined fuel, much of it from California, but the Foreland Refining facility offers what it calls a "critical in-state solution," stepping in to meet this growing demand from its strategic base in Railroad Valley.

“This is a rare opportunity to invest in real infrastructure with real revenue,” Sky Quarry co-founder and Executive Vice President Marcus Laun says of the crowdfunding effort.

“While we continue working to bring our asphalt shingle recycling operations online, Foreland is already producing essential petroleum products and generating revenue. It is a foundational part of our circular energy model, and now we are inviting the public to participate in its future with us.”

Sky Quarry says it also is exploring digital asset strategies.

“Though the Foreland crowdfund runs on traditional rails, the company views its revenue-linked structure as a strong example of the kind of real-world investment that could be adapted to blockchain-based platforms as alternative financial infrastructure evolves," the company says.

Sky Quarry says it also supports ongoing legislative efforts in Washington, including the Clarity for Payment Stablecoins Act and the GENIUS Act, and notes it has a history of successful crowdfunding efforts that position it to help shape the future of DeFi and real-world asset tokenization.

Proceeds from the crowdfund are intended to support targeted upgrades at the refinery to boost production as allowed under current permits, improve operational efficiency and prepare for the future integration of recycled heavy oil recovered from Sky Quarry’s planned asphalt shingle recycling operations in Utah, as well as for debt repayment, working capital and general corporate purposes.

A filing made by Sky Quarry with the Securities and Exchange Commission reporting its first quarter 2025 activity indicates the firm garnered more than $6.3 million in revenue during the time frame but recorded a net loss of more than $3.3 million.