Dear Cashmere Holding Company, operating as Matrix Fuels (OTC: DRCR), announced significant progress in executing its 2026 business plan, focusing on repositioning the company toward the industrial oil sector. The company has posted a pre-registration website at www.Techplay24.com for the anticipated IPO of its spun-out gaming technology business. Qualifying shareholders as of December 31, 2025, will receive shares in the IPO and must register their details to proceed with verification and formalities.
As part of its strategic shift, DRCR will initiate a name change to Matrix Fuels Inc. at the state level and with OTC Markets Group Inc., pending corporate actions and regulatory approvals. A new ticker symbol will be proposed at the appropriate time. The company’s new corporate website will launch at www.matrix-fuels.com, while its X (formerly Twitter) feed will continue under @MatrixFuels with a brand update.
The company expects to acquire a modern waste oil refinery in the United Arab Emirates that reprocesses marine waste oil, or “slop,” from ships and tankers. The UAE’s ports handle over 20,000–25,000 vessel calls annually, generating more than 500,000 metric tons of marine slop and oily waste each year. The refinery charges fees for removal and processing, then sells reprocessed output as repurposed oils and lubricants. Additionally, it processes waste industrial oil into fuel oil and lubricants, sourced from industrial collectors and government programs, with over 300,000 metric tons of used oil collected annually in the UAE.
Regional instability from military action in Iran has increased demand for oil and fuel oil, as many Middle Eastern producers and Russia face supply constraints to key markets, especially Europe. The UAE’s southern coastline ports bypass the Strait of Hormuz, ensuring continued export access. While operational challenges exist, these conditions create opportunities for energy trade and supply diversification.
The acquisition valuation has been agreed in principle, subject to final due diligence. Financing is provisionally structured through equity and a royalty arrangement. Management aims to close the transaction within two to three months, pending due diligence, definitive agreements, and regulatory approvals. Chairman Nicolas Link stated, “I expect that this will be a fantastic acquisition for our shareholders. It is high margin, very cash generative, highly profitable, and benefits from strong demand and consistent supply.”
Management believes the business model offers substantial growth potential, with interest from multiple governments in replicating the facility. The company will continue to provide updates via social channels and news wires.
