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Sky Quarry Announces Launch of European Financing Effort
Globe Newswire 13-Nov-2024 8:31 AM
WOODS CROSS, Utah, Nov. 13, 2024 (GLOBE NEWSWIRE) -- Sky Quarry Inc. (NASDAQ:SKYQ) ("Sky Quarry" or "the Company"), an integrated energy solutions company focused on transforming the waste asphalt shingle recycling industry, today announced the launch of its European Financing Effort. This expansion aims to leverage growth capital in the European market. The Company is making this announcement following numerous meetings with institutional investors across several European countries.
According to Morningstar's Global Sustainable Fund Flows Report, Europe accounts for 90% of global sustainable funds, with $2.7 trillion in assets under management. Recognizing the vibrancy of the European sustainable investing landscape, Sky Quarry has a demonstrated history of successfully completing transactions with European investors.
Sky Quarry's recent Nasdaq listing marked a critical milestone, positioning the Company to strategically increase its efforts in the European market. Management believes that the Nasdaq listing creates a level of trust that wouldn't be attainable as a private company.
"The capital pool in Europe offers an ideal funding source for debt instruments and project financing essential to our growth," said Marcus Laun, EVP of Sky Quarry. "European capital costs are lower, enabling us to consider traditional 'Green Bonds' with current cash coupon payments, which don't require convertibility or equity components. Feedback from European investors highlights a demand for sustainable investment products like ours, which makes us believe that we will be able to successfully raise capital in the European market."
The European Team Members are based in Germany, covering Luxembourg, Germany, Switzerland, Sweden, and the UK. The Company has hired professionals to screen and engage a targeted subset of the approximately 4800 institutions in Europe that have a sustainable mandate.
The team will also focus on managing equity investor relations in the European Market. According to the Morgan Stanley Institute for Sustainable Investing, 85% of individual investors in Europe are interested in Sustainable Investing, according to the same survey, 66% of these investors reported that their interest level in sustainability has increased over the last two years.
The Company would like to note that it has communicated with Yahoo Finance, and Apple Stocks regarding their communicated Market Capitalization*, which is being reported incorrectly.
*The correct Market Capitalization was $40.23 million based on 18.8 million shares of common stock issued and outstanding and a closing stock price of $2.14 per share as of the market close on Monday, November 11, 2024.
About Sky Quarry Inc.
Sky Quarry Inc. (NASDAQ:SKYQ) and its subsidiaries are, collectively, an oil production, refining, and a development-stage environmental remediation company formed to deploy technologies to facilitate the recycling of waste asphalt shingles and remediation of oil-saturated sands and soils. Our waste-to-energy mission is to repurpose and upcycle millions of tons of asphalt shingle waste, diverting them from landfills. By doing so, we can contribute to improved waste management, promote resource efficiency, conserve natural resources, and reduce environmental impact. For more information, please visit skyquarry.com.
Forward-Looking Statements
This press release may include ''forward-looking statements.'' All statements pertaining to our future financial and/or operating results, future events, or future developments may constitute forward-looking statements. The statements may be identified by words such as "expect," "look forward to," "anticipate," "intend," "plan," "believe," "seek," "estimate," "will," "project," or words of similar meaning. Such statements are based on the current expectations and certain assumptions of our management, of which many are beyond our control. These are subject to a number of risks, uncertainties, and factors, including but not limited to those described in our disclosures. Should one or more of these risks or uncertainties materialize or should underlying expectations not occur or assumptions prove incorrect, actual results, performance, or our achievements may (negatively or positively) vary materially from those described explicitly or implicitly in the relevant forward-looking statement. We neither intend, nor assume any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated. You are urged to carefully review and consider any cautionary statements and the Company's other disclosures, including the statements made under the heading "Risk Factors" and elsewhere in the Company's Form 1-A offering statement filed with the SEC. Forward-looking statements speak only as of the date of the document in which they are contained.
Investor Relations Chris Tyson Executive Vice President MZ Group - MZ North America 949-491-8235 SKYQ@mzgroup.us www.mzgroup.us
