Dear Cashmere Holding Company (OTC PINK: DRCR), doing business as Matrix Fuels, announced the successful completion of Stage One of its strategic business plan as the Company advances the rollout and implementation of its energy platform focused on re-refining waste oils into high-value base oils, lubricants, and fuel products.
The Company appointed Mr. Aleksandar Savic as Chief Executive Officer of Matrix Fuels, replacing outgoing CEO Mr. James Gibbons, who will remain for a short handover period. Mr. Savic is the first of four executive appointments expected over the coming weeks, including a Chief Technical Officer and Chief Commercial Officer, both with careers in the used oil and fuel industries, who will lead the UAE oil projects. The Company has also agreed to appoint an industry experienced General Manager for the Adriatic Oil Project. Mr. Savic has extensive regional experience with regulators, governments, and infrastructure projects.
Aleksandar Savic expressed excitement to lead Matrix Fuels through its next stage of growth and execution. The Company’s strategy centers on creating a circular economy within the fuels sector by collecting, processing, and repurposing industrial, automotive, and marine waste oils, plastics, and tyres into valuable fuel and lubricant products through strategically located micro-refining facilities. In the short term, the focus is on completing three synergistic acquisitions within a short timeframe and integrating experienced management teams. The commercial terms of two of the three acquisitions have been finalized, with lawyers preparing final documentation.
Industry data continues to indicate significant growth opportunities in waste oil re-refining, waste-to-energy, tyre recycling, and plastic conversion markets, particularly in emerging economies where fuel demand and waste management challenges increase. Nicolas Link, Chairman, 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, encouraging shareholders to follow future announcements and social media updates for continued developments. For further information, visit the Company's website at www.matrix-fuels.com and follow on X (Twitter) at matrixfuels.
