MATRIX FUELS (OTC: DRCR), the new corporate identity of Dear Cashmere Holding Company, announced today that it has begun rolling out a new business model focused on sustainable, cash-flow-positive growth. The company has completed a strategic restructuring to transfer its legacy technology business into a newly formed company expected to pursue an initial public offering (IPO) in 2026. Legacy DRCR shareholders are anticipated to receive shares in the IPO company while retaining their existing DRCR holdings.
DRCR plans to launch a dedicated website in the coming days where shareholders can register for updates on the IPO process. The company will issue a press release and notifications through its social media channels when the website goes live. DRCR remains under the same ownership with no change in control.
Concurrently, DRCR is transitioning into the waste oil recycling sector. The company intends to acquire an established, licensed, and profitable waste oil and lubricant refinery in Dubai. Due diligence has been completed and principal terms negotiated, with closing expected in late Q1 or early Q2 2026, subject to customary conditions. The target business is operated by an experienced management team expected to play a significant role in DRCR's new operations.
Recycling mineral waste oil into base and fuel oil is both environmentally responsible and economically compelling. Globally, more than 50 million metric tons of waste oil is generated annually, with much improperly disposed of. The global waste oil recycling market exceeds $8 billion, driven by industrialization, environmental regulation, and energy demand. Re-refining waste oil can deliver attractive margins while addressing critical environmental challenges.
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. It makes common sense to recycle this 'black gold,' which exists in abundance as toxic waste causing environmental problems worldwide. In some cases, we are paid to remove the waste oil and then reprocess and sell it again - effectively having two bites of the apple."
Geopolitical tensions across multiple regions continue to pressure energy markets and supply chains. Accelerating automation, logistics, electrification, and increased power demand from data centers and artificial intelligence require reliable fuel oils, creating opportunities for recycled products.
James Gibbons, current CEO of DRCR, commented: "My involvement has focused on supporting the evaluation and potential separation of the Company's legacy technology assets. Any separation, transaction, or potential public listing is subject to market conditions, regulatory requirements, and the discretion of the board. As DRCR considers a transition into a new operating sector, I anticipate transitioning out of executive management while continuing as a significant shareholder."
DRCR believes the coming months will be transformative for the company and its shareholders, who are expected to benefit from both the new waste oil recycling business and participation in the anticipated IPO of the technology business. Additional details regarding the transaction, including board changes and operational structure, will be announced in the coming weeks.
For more information, visit DRCR's profile on OTC Markets.
