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.
