Dear Cashmere Holding Company, operating as Matrix Fuels (OTC: DRCR), announced significant progress in executing its 2026 business plan, including the launch of a pre-registration website for the anticipated IPO of its gaming technology business and the planned acquisition of a modern waste oil refinery in the United Arab Emirates. The moves signal a strategic shift toward industrial oil operations and a new corporate identity.
Qualifying shareholders of record as of December 31, 2025, will receive shares in the gaming IPO and must register their details at www.Techplay24.com. The Company will then verify shareholdings and continue IPO formalities. Concurrently, DRCR will initiate a name change to Matrix Fuels Inc. and propose a new ticker symbol, subject to regulatory approvals. The new corporate website will launch at www.matrix-fuels.com, and its X (formerly Twitter) feed will operate under @MatrixFuels.
The focal point of the business plan is the acquisition of a waste oil refinery in the UAE that reprocesses marine slop and industrial waste oil into lubricants and fuel oil. The facility charges vessels to remove marine waste and sells reprocessed products, benefiting from high demand amid regional instability. Industry estimates indicate over 500,000 metric tons of marine slop generated annually in the region, with more than 300,000 metric tons of used industrial oil collected in the UAE. The refinery’s location on the UAE’s southern coast allows exports to bypass the Strait of Hormuz, ensuring market access despite tensions.
Chairman Nicolas Link stated, "I expect that this will be a fantastic acquisition for our shareholders. It is high margin, very cash generative, highly profitable, and benefits from what we believe to be strong and sustainable demand." The valuation has been agreed in principle, with financing structured through equity and a royalty arrangement. Management aims to close the acquisition within two to three months, subject to due diligence, definitive agreements, and regulatory approvals.
While the region faces increased instability from military actions in Iran, demand for oil and fuel oil has reached record highs, as many oil-producing nations struggle to supply key markets. The Company believes its business model provides both economic and environmental value by addressing the global challenge of waste oil.
For more information, visit OTC Markets profile or follow @MatrixFuels on X.
