Matrix Fuels, operating under OTC PINK: DRCR, announced the successful completion of Stage One of its strategic business plan, advancing its energy platform focused on re-refining waste oils into high-value base oils, lubricants, and fuel products. The company also appointed Mr. Aleksandar Savic as Chief Executive Officer, replacing outgoing CEO James Gibbons, who will remain for a short handover period.
Mr. Savic is the first of four executive appointments expected in the coming weeks, including a Chief Technical Officer and Chief Commercial Officer, both with extensive experience in the used oil and fuel industries, who will lead UAE oil projects. The company has also agreed terms to appoint a General Manager for the Adriatic Oil Project. Mr. Savic brings extensive regional experience with regulators, governments, and infrastructure projects, having worked with stakeholders on large projects for several years.
According to the company, the strategy focuses on creating a circular economy within the fuels sector by collecting, processing, and repurposing industrial, automotive, and marine waste oils, plastics, and tires into valuable fuel and lubricant products through strategically located micro-refining facilities. In the short term, Matrix Fuels aims to complete three synergistic acquisitions in a short timeframe, with commercial terms for two of the three finalized and lawyers preparing final documentation. The second half of the year is expected to be exciting, as per Mr. Savic.
Industry data indicates significant growth opportunities in waste oil re-refining, waste-to-energy, tire recycling, and plastic conversion markets, particularly in emerging economies where fuel demand and waste management challenges continue to increase. Chairman Nicolas Link thanked James Gibbons for his contributions and welcomed Aleksandar Savic, noting 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 further information, investors can visit the company's website at www.matrix-fuels.com or follow on X (Twitter) at matrixfuels.
