Arizona Tribune - Sky Quarry Unlocks Strategic Value at 5,000 Barrels-Per-Day Foreland Refinery with Completion of High-Impact System Upgrades

WOODS CROSS, UT / ACCESS Newswire / January 27, 2026 / Sky Quarry Inc. (NASDAQ:SKYQ), an integrated energy solutions company transforming the waste recycling industry, today announced the completion of a series of high-impact operational upgrades at its Foreland Refinery.

Foreland stands as a rare energy asset in the western United States as the only permitted refinery in the State of Nevada, operating within a supply-constrained and logistically complex regional fuel market. With permitted capacity of up to 5,000 barrels per day and an estimated replacement value of approximately $70 million, Foreland represents high-barrier infrastructure that would be difficult to replicate today. The refinery supplies fuel to critical Nevada industries, including precious metals mining and lithium production.

The completed upgrades significantly enhance refinery reliability, uptime, and operational readiness. As a result, Sky Quarry is now uniquely positioned to capture outsized value from tightening regional fuel markets, expand operating leverage, and convert a scarce refining asset into meaningful, durable cash-flow potential for shareholders.

The improvements address core systems across the facility, including major boiler system upgrades, vacuum unit condenser replacements, critical process piping replacements, tank system repairs, and restoration of the water and oil separation system. Collectively, these enhancements materially improve durability, throughput capability, and readiness for sustained production.

As infrastructure scarcity in western fuel markets continues to intensify, Sky Quarry believes these completed upgrades enhance Foreland's strategic relevance, operational resilience, and long-term value creation potential.

"As the only active refinery in Nevada, the work completed at Foreland strengthens the asset to support regional demand when market conditions require it," said Marcus Laun, CEO of Sky Quarry Inc. "With shifting supply dynamics across California, Nevada, and Utah, including the Benicia refinery in California scheduled to come offline in April 2026, current market indicators point to high demand this summer season. We believe Foreland is well positioned to respond."

About Sky Quarry Inc.

Sky Quarry Inc. (NASDAQ:SKYQ) is an oil production and refining company that operates the Foreland Refinery, a regional facility producing diesel, vacuum gas oil (VGO), naphtha, and liquid paving asphalt from crude oil sourced from Nevada and Utah. The Company is also advancing development-stage environmental remediation operations at its PR Spring facility in eastern Utah, focused on technologies designed to recover hydrocarbons from waste asphalt shingles and oil-saturated sands and soils. 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 included in the Company's public SEC filings, including the statements made under the heading "Risk Factors" and elsewhere in the Company's Form 10-K as filed with the SEC on March 31, 2025, and all amendments thereto, as well as the Company's Form 10-Q as filed with the SEC on November 14, 2025. Forward-looking statements speak only as of the date of the document in which they are contained.

Investor Relations

Jennifer Standley
Director of Investor Relations
[email protected]

Company Website

www.skyquarry.com

SOURCE: Sky Quarry

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M.O.Allen--AT