The global push for sustainability and clean energy has led to a significant market demand for innovative waste management solutions, and Sky Quarry, Inc. is poised to meet this challenge. As countries worldwide strive to reduce emissions and increase clean energy consumption, the need for clean technologies, including renewables and energy-efficient construction, has become increasingly crucial.
Sky Quarry, an oil production and refining company, has developed a unique approach to waste management with its ‘Waste-to-Energy Solutions.’ The company’s closed-loop recycling process can recover materials and oil from waste asphalt shingles (WAS), which are typically dumped into landfills. According to the EPA, about 15 million tons of recyclable asphalt shingle waste is discarded annually in North America, the equivalent of over 22 million barrels of oil per year. Sky Quarry’s proprietary extraction technology allows the reuse and recovery of up to 95% of the asphalt bitumen, creating sustainable infrastructure products while reducing emissions and dependence on foreign oil or new sources of material.
In addition to its sustainable waste management practices, Sky Quarry is poised to capitalize on the booming global carbon market. As of 2023, the carbon market is a $398.4 billion industry, growing at a CAGR of 29.4% through 2028, with companies increasingly investing in renewable energy projects and purchasing carbon credits to offset their emissions. Sky Quarry’s business model allows the company to potentially earn a considerable amount of these carbon credits, which could contribute millions, if not tens of millions, of dollars to the company’s bottom line as the carbon market matures.
The global green technology and sustainability market is projected to reach $19.83 billion in 2024, with significant growth anticipated for the next decade as the market is expected to exhibit a CAGR of 19.7% over 2024-2032. Sky Quarry, which believes its business model is just as sustainable as its technology, is prepared to capitalize on this monumental shift towards a more sustainable future.
}
This news story relied on a press release distributed by News Direct. Blockchain Registration, Verification & Enhancement provided by NewsRamp™. The source URL for this press release is Sky Quarry’s Innovative Approach to Sustainable Waste Management.