Matrix Fuels, operating under the ticker OTC: DRCR, announced the successful completion of Stage One of its strategic business plan, advancing the rollout of its energy platform focused on re-refining waste oils into high-value base oils, lubricants, and fuel products. The Company also appointed Aleksandar Savic as Chief Executive Officer, replacing James Gibbons, who will remain for a short handover period.
Mr. Savic is the first of four expected executive appointments, 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 to appoint an industry-experienced General Manager for the Adriatic Oil Project. Mr. Savic brings deep knowledge of the region, having worked with regulators, governments, and on infrastructure projects for several years.
“I am excited to lead Matrix Fuels through its next stage of growth and execution,” said Mr. Savic. The Company’s strategy focuses on creating a circular economy 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, Matrix Fuels aims to complete three synergistic acquisitions and integrate experienced management teams. Commercial terms for two of the three acquisitions have been finalized, with lawyers preparing final documentation.
Chairman Nicolas Link thanked James Gibbons for his contributions and welcomed Mr. Savic. “Matrix Fuels is focused on simple, scalable and cash-generative industrial businesses that solve real-world environmental and energy challenges,” said Mr. Link. The Company is rolling out new branding and corporate identity, encouraging shareholders to follow updates on its website and social media.
Industry data indicates significant growth opportunities in waste oil re-refining, waste-to-energy, tyre recycling, and plastic conversion markets, especially in emerging economies where fuel demand and waste management challenges are rising. This announcement marks a pivotal step for Matrix Fuels as it transitions from a holding company to an operational entity focused on sustainable energy solutions.
The successful completion of Stage One and the leadership transition underscore the Company’s commitment to scaling its operations and capitalizing on market demand for circular economy solutions in the fuels sector.
