Woods Cross-based Sky Quarry Inc., an oil production, refining and development-stage environmental remediation company, has announced that Marcus Laun has been appointed CEO. Laun is a co-founder of Sky Quarry.
Laun has more than 25 years of capital markets experience, has held senior roles in finance and advised on digital asset initiatives such as tokenization and exchange development.
As CEO, he will guide Sky Quarry through its next stage of growth with a focus on sustainable operations and the advancement of a digital treasury strategy. The company said these initiatives are intended to broaden potential sources of capital, expand investor access and strengthen the company’s balance sheet.
Sky Quarry deploys technologies to facilitate the recycling of waste asphalt shingles and remediate oil-saturated sands and soils.
“I am both excited and encouraged by the opportunities ahead,” said Laun. “Our integrated business model, combining recycling, refining and digital assets, positions us to deliver both environmental and financial innovation. Traditional industries and the digital revolution may seem worlds apart, yet the two are complementary and together create even greater potential.”
Sky Quarry’s integrated platform is anchored by three core assets: its PR Spring facility in Utah, which sits on significant oil sands resources; the Foreland Refinery in Nevada, that state’s only operating refinery; and proprietary technology designed to process the more than 15 million tons of asphalt shingles discarded annually in the U.S., which Sky Quarry estimates is the equivalent of approximately 22 million barrels of oil, as well as other high-value industrial materials.
“Sky Quarry has an attractive model today, but it can be enhanced through a digital treasury and the potential tokenization of our assets,” Laun continued. “By layering blockchain-based tools on top of our recycling and refining operations, we are pursuing opportunities with the goal of broadening funding access, lowering borrowing costs, and unlocking asset value that traditional markets often overlook.”