MATRIX FUELS (OTC: DRCR), the new corporate identity of Dear Cashmere Holding Company, today announced a strategic restructuring to maximize shareholder value by transferring its legacy technology business into a newly formed company 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 DRCR holdings. DRCR plans to launch a dedicated website for shareholder registration and information regarding the IPO process in the coming days.
Concurrently, DRCR is transitioning into the waste oil recycling sector, citing both environmental and economic benefits. The global waste oil recycling market is estimated to exceed $8 billion, with over 50 million metric tons of waste oil generated annually. Recycling mineral waste oil into base and fuel oils can deliver attractive margins while addressing environmental challenges. DRCR intends to acquire an established, licensed, and profitable waste oil and lubricant refinery in Dubai, with due diligence completed and principal terms negotiated. The transaction is expected to close in late Q1 or early Q2 2026, subject to customary conditions.
Nicolas Link, Chairman of DRCR, emphasized the importance of recycling waste oil, stating, 'It makes common sense to recycle this ‘black gold,’ which exists in abundance as toxic waste causing environmental problems worldwide.' The move comes amid geopolitical tensions and increasing energy demand from data centers and artificial intelligence, which require reliable fuel oils.
James Gibbons, current CEO, noted his role in supporting the separation of legacy assets and anticipates transitioning out of executive management as DRCR shifts focus. 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.
