Sky Quarry Inc.

Snapshot

Sky Quarry is a tiny energy company in a severe financial contraction. Revenue has plummeted for two straight years, falling from $50.7M in 2023 to just $12.5M in 2025. The business model is currently broken on the unit level, with a negative gross margin of 25.5% meaning it costs more to make fuel than the company sells it for.

What's Happening Right Now

• Thu 9th Jul '26 · Management: Sky Quarry appointed Ray Hansen, a 35-year refining veteran and former HF Sinclair executive, as President of its Foreland Refining Corporation subsidiary to lead the next phase of growth.
• Mon 22nd Jun '26 · Operational update: Sky Quarry announced it is entering the production phase at its Foreland Refinery in Nevada, the state's only operating refinery, with operations expected to commence in July 2026.
• Fri 15th May '26 · Earnings report: The company disclosed a going concern warning in its Q1 2026 filing, citing a near-total collapse in revenue to $383 and an accumulated deficit of $38.5 million, alongside a reverse stock split and pending lawsuits from former executives and lenders.
• Thu 7th May '26 · Partnership: The company entered a non-binding Memorandum of Understanding with Southern Energy Renewables and DevvStream to advance next-generation fuel technologies, including sustainable aviation fuel, at its refinery and oil sands assets.
• Wed 29th Apr '26 · Asset development: Sky Quarry issued a Request for Proposals to engage partners for accelerating the development of its 180-million-barrel PR Spring oil sands resource in Utah.