REGINA, Saskatchewan - TelAve -- Independent Renewable Resources Corp. (IRRC), operator of a refinery in southwest Saskatchewan, announced its successful exit from receivership on May 21, 2026. Under new ownership and bolstered by dedicated financial support, IRRC is now on a solid foundation for safe, continuous, and reliable operations.

With the new ownership and management team in place, IRRC has transformed its operational performance. Over the past 18 months, the company has achieved full rateability through reliable production of consistent, high-quality refined products including distillate, NGK and residual.  This stability has enabled IRRC to secure new end-user customers and expand into diversified markets.

Key among these advancements is the production and sale of a consistent distillate - a thermally cracked refined product derived through a refining process, rather than simple cleaning or filtering. This sustainable approach supports environmental goals and holds strong potential for a closed-loop process with suitable partners.

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One notable new customer relationship is with one of the largest independent crude oil and natural gas exploration and production companies in the United States.  This customer purchases IRRC's distillate for use as a drilling fluid.  Initial trials have yielded highly successful results, validating the quality and compatibility of IRRC's output.  A second customer is a finishing refinery which purchases IRRC distillate to produce Ultra Low Sulphur Diesel (ULSD).  IRRC is actively exploring additional customer diversification and other growth initiatives to further strengthen its market position.

"Exiting receivership with new ownership and strong financial backing allows us to focus fully on operational excellence, customer delivery, and long-term sustainability," said Kurt Hausen, President at IRRC.  "We are committed to being a reliable supplier in the refined petroleum products sector while advancing environmentally responsible practices at the refinery."

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The facility is located near Shaunavon, Saskatchewan only 115km (71 miles) from the US Border (Montana).

About Independent Renewable Resources Corp.

Independent Renewable Resources Corp. (IRRC) is a Canadian company specializing in refining high-quality petroleum products including distillate, NGK and residual at its facility in southwest Saskatchewan. Committed to sustainable practices, IRRC focuses on reliable production, customer satisfaction, and environmental stewardship in the energy sector.