Dear Cashmere Holding Company (OTC PINK: DRCR), operating as Matrix Fuels, announced today the successful completion of Stage One of its strategic business plan as the company advances the rollout of its energy platform focused on re-refining waste oils into high-value base oils, lubricants, and fuel products.
As part of this milestone, the company appointed Aleksandar Savic as Chief Executive Officer, replacing outgoing CEO 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 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. Savic brings extensive regional experience with regulators, governments, and infrastructure projects, having worked with stakeholders on large projects for several years.
Matrix Fuels' strategy focuses on creating a circular economy within the fuels sector by collecting, processing, and repurposing industrial, automotive, and marine waste oils, plastics, and tires into valuable fuel and lubricant products through strategically located micro-refining facilities. In the near term, the company is focused on completing three synergistic acquisitions within a short timeframe and integrating experienced management teams. Commercial terms for 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, tire recycling, and plastic conversion markets, particularly in emerging economies where fuel demand and waste management challenges are increasing. Chairman Nicolas Link thanked James Gibbons for his contributions and welcomed 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 new branding and corporate identity, encouraging shareholders to follow future announcements and updates on X (Twitter) for continued developments.
For further information, visit the company's website at www.matrix-fuels.com.
