Matrix Fuels, operating as Dear Cashmere Holding Company (OTC PINK: DRCR), announced today the successful completion of Stage One of its strategic business plan as it advances the rollout of an energy platform focused on re-refining waste oils into high-value base oils, lubricants, and fuel products. The company also appointed Aleksandar Savic as Chief Executive Officer, replacing outgoing CEO James Gibbons, who will remain for a short handover period to ensure continuity.
Savic is the first of four executive appointments expected in the coming weeks, including a Chief Technical Officer and Chief Commercial Officer, both of whom have spent their careers in the used oil and fuel industries and will lead the UAE oil projects. The company has also agreed terms to appoint an industry-experienced General Manager for the Adriatic Oil Project. Savic has extensive experience in the region, working with regulators, governments, and establishing infrastructure projects, having collaborated with the broader group of stakeholders on various large projects over the past several years.
“I am excited to lead Matrix Fuels through its next stage of growth and execution,” Savic said. “The Company’s strategy is focused on creating a circular economy within the fuels sector by collecting, processing and repurposing industrial, automotive and marine waste oils, plastics and tyres into valuable fuel and lubricant products through strategically located micro-refining facilities. In the short term we are focused on completing the 3 synergetic acquisitions in a short time frame and integrating and consolidating the highly experienced management teams. The commercial terms of 2 of the 3 acquisitions have been finalized and lawyers are preparing the final documentation. The second half of this year should be exciting.”
Industry data continues to indicate significant growth opportunities in waste oil re-refining, waste-to-energy, tyre recycling and plastic conversion markets, particularly in emerging economies where fuel demand and waste management challenges continue to increase. This presents a substantial opportunity for Matrix Fuels as it positions itself in the circular economy space.
Nicolas Link, Chairman, thanked Gibbons for his contributions and welcomed Savic. Link noted that Matrix Fuels is focused on simple, scalable and cash-generative industrial businesses that solve real-world environmental and energy challenges. The company is currently rolling out its new branding and corporate identity and encourages shareholders to follow future announcements and social media updates for continued developments.
The completion of Stage One marks a significant milestone for Matrix Fuels as it transitions from planning to execution. With acquisitions advancing and a seasoned management team being assembled, the company is poised to capitalize on the growing demand for sustainable energy solutions. For investors and industry observers, the appointment of regional experts and the progress on acquisitions signal a focused effort to build a profitable, cash-flow positive operation. The company’s strategy of targeting waste oil recycling and alternative fuels addresses both environmental concerns and energy needs, particularly in emerging markets where waste management is a pressing issue.
