MATRIX FUELS (OTC: DRCR), formerly Dear Cashmere Holding Company, announced today the rollout of a new business model designed to unlock shareholder value and position the company for cash-flow-positive growth. The company has completed a strategic restructuring, transferring its legacy technology business into a newly formed entity expected to pursue an initial public offering (IPO) in 2026. Legacy DRCR shareholders are expected to receive shares in the IPO company while retaining their existing holdings. A dedicated website will be published in the coming days where shareholders can register for updates on the IPO process, with notifications via press release and social media channels.
DRCR remains under the same ownership with no change in control. Concurrently, the company is transitioning into the waste oil recycling sector, citing both environmental and economic benefits. Recycling mineral waste oil into base and fuel oil addresses the global generation of over 50 million metric tons of waste oil annually, with a significant portion improperly disposed of. The global waste oil recycling market is estimated to exceed $8 billion, driven by industrialization, environmental regulation, and energy demand. Geopolitical tensions and rising energy needs from data centers and artificial intelligence further underscore the demand for reliable fuel oils.
Nicolas Link, Chairman of DRCR, stated: “While green energy is a parallel focus globally, fundamentally oil is likely to continue to dominate the energy sector during our lifetime and most definitely in the medium term. It makes common sense to recycle this ‘black gold,’ which exists in abundance as toxic waste causing environmental problems worldwide. It is a win-win to collect, recycle, blend, and return these oils to the market as new products.”
To enter the sector, DRCR intends to acquire an established, licensed, and profitable waste oil and lubricant refinery in Dubai. Due diligence has been completed and principal terms negotiated. The target business is operated by a highly experienced management team expected to play a significant role in DRCR's new operations. While no assurance of closing exists, the parties have been working toward completion for several months, with closing expected in late Q1 or early Q2 2026, subject to customary conditions. Additional details, including board changes and operational structure, will be announced in the coming weeks.
James Gibbons, current CEO of DRCR, noted his focus on supporting the evaluation and potential separation of legacy technology assets to preserve shareholder value. He anticipates transitioning out of executive management while remaining a significant shareholder. DRCR believes the coming months will be transformative, with shareholders benefiting from both the new waste oil recycling business and participation in the anticipated IPO of the technology business.
For more information, visit the company's profile on OTC Markets.
