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Sky Quarry Inc. (SKYQ) announced plans to establish a digital asset treasury as part of its capital allocation strategy, according to a company press release.
The energy company stated it is exploring how digital assets can complement its existing business model and strengthen its balance sheet. Sky Quarry is in early discussions to secure commitments for a diversified portfolio of digital assets, including digital currencies, stablecoins, and blockchain-based instruments.
The company has formed an internal working group and engaged industry advisors with expertise in digital custody, capital markets, and blockchain technology to support the initiative.
Marcus Laun, Executive Vice President and Co-Founder of Sky Quarry, said he believes public companies are positioned to bring transparency and governance to blockchain innovations. "I believe public companies could eventually represent 10 to 20 percent of total digital asset market capitalization," Laun stated.
Sky Quarry described the initiative as part of positioning itself within the energy transition by bridging traditional and renewable energy sectors through digital marketplace technologies. The company indicated it plans to expand this model across the energy spectrum as tokenization of real-world assets gains institutional adoption.
The company said it is seeking partnerships with foundations, asset managers, and cryptocurrency entrepreneurs who share its vision for convergence between traditional public markets and digital assets.
Sky Quarry operates as an oil production, refining, and environmental remediation company focused on recycling waste asphalt shingles and remediating oil-saturated materials.