Matrix Fuels, operating through Dear Cashmere Holding Company (OTC PINK: DRCR), announced today the successful completion of Stage One of its strategic business plan, marking a significant milestone in the company's rollout of an energy platform focused on re-refining waste oils into high-value base oils, lubricants, and fuel products.
As part of this stage, the company has appointed Aleksandar Savic as Chief Executive Officer, succeeding James Gibbons, who will remain for a short handover period. 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 the UAE oil projects. Additionally, the company has agreed terms to appoint a General Manager for the Adriatic Oil Project.
Savic brings extensive regional experience, having worked with regulators, governments, and on infrastructure projects. He expressed excitement about leading Matrix Fuels through its next growth phase, emphasizing the company's strategy of 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. Near-term priorities include completing three synergistic acquisitions within a short timeframe, with commercial terms for two of them finalized and documentation being prepared.
Industry data continues to highlight significant growth opportunities in waste oil re-refining, waste-to-energy, tyre recycling, and plastic conversion markets, particularly in emerging economies facing rising fuel demand and waste management challenges. Chairman Nicolas Link thanked outgoing CEO James Gibbons for his contributions and welcomed Savic, noting that Matrix Fuels is focused on simple, scalable, and cash-generative industrial businesses that address real-world environmental and energy challenges.
The company is also rolling out new branding and corporate identity, encouraging shareholders to follow future announcements and social media updates via its official channels. For more information, visit the company's website at www.matrix-fuels.com.
Dear Cashmere Holding Company, now known as Matrix Fuels, is an emerging diversified holding company focused on acquiring and operating waste-oil recycling and alternative fuels assets, with management believing the strategic shift and targeted acquisitions offer potential for cash-flow positive operations and scalable growth.
