DRCR, an emerging diversified holding company also known as Dear Cashmere Holding Company, has reported significant progress in implementing its 2026 business plan, advancing several strategic initiatives to reposition and expand its operations. The company is moving forward with the anticipated initial public offering of its spun-out gaming technology business, requiring qualifying shareholders of record as of December 31, 2025, to register their details at www.Techplay24.com to receive shares in the IPO.
As part of its strategic shift toward an industrial oil business focus, DRCR will initiate the process of changing its name to Matrix Fuels Inc. at the state level and with OTC Markets Group Inc., following appropriate corporate actions and regulatory approvals. The company's new corporate website, currently under development, will launch shortly at www.matrix-fuels.com, and its social media presence will continue under the handle @MatrixFuels on X, formerly Twitter.
The company expects to acquire a modern waste oil refinery located in the United Arab Emirates, primarily focused on reprocessing waste marine oil, commonly known as "slop," collected from ships and tankers. The UAE is home to some of the busiest ports in the world, with industry estimates indicating more than 20,000–25,000 vessel calls annually across UAE ports, generating significant volumes of marine waste. It is estimated that in excess of 500,000 metric tons of marine slop and related oily waste are generated regionally each year.
The refinery charges vessels a fee to remove and process this slop and subsequently sells the reprocessed output as various repurposed oils and lubricants. In addition to marine waste, the facility processes waste industrial oil into fuel oil and lubricants, sourcing supply from large industrial collectors and government-linked waste collection programs. Industry data suggests that more than 300,000 metric tons of used industrial and automotive oil are collected annually within the UAE, providing a substantial and recurring feedstock supply.
While the region has become increasingly unstable due to the spillover of military action in Iran, local and export demand for oil and fuel oil has reached an all-time high. Many oil-producing nations in the Middle East, as well as Russia, are currently unable to fully supply key markets, particularly in Europe. The United Arab Emirates maintains export ports on its southern coastline, allowing shipments to bypass the Strait of Hormuz, ensuring continued access to international markets despite regional tensions.
The valuation of the proposed acquisition has been agreed in principle, subject to final due diligence which is currently underway. Financing has been provisionally agreed, largely structured through a combination of equity and a royalty arrangement. Management aims to complete the acquisition within the next two to three months, subject to completion of due diligence, definitive agreements, and regulatory approvals.
Nicolas Link, Chairman of DRCR, stated that this acquisition is expected to be high margin, very cash generative, and highly profitable, benefiting from strong and sustainable demand for the foreseeable future coupled with consistent supply. He noted that while oil prices do fluctuate, margins in this segment are generally robust enough to accommodate significant variance. The business has a highly experienced management team capable of expanding the footprint, potentially opening similar facilities in multiple countries where excess waste oil and fuel shortages coexist.
Link emphasized that waste oil, especially marine waste oil, is a significant global environmental challenge, and this model provides both economic and environmental value. Numerous governments have already expressed interest in replicating this model within their jurisdictions. This marks an exciting new chapter for the company, with management believing the business model is robust and offers substantial growth potential.
While considerable administrative work remains as the company transitions in strategic direction and corporate identity, the team is focused and moving rapidly to complete these formalities in the shortest possible timeframe. Shareholders and investors can monitor the company's social channels and news wires for further press release updates. The company's investor information is available through OTC Markets.
