A Thanksgiving Letter to Our Shareholders
From the Desk of Matthew McKean, CEO & Co-Founder, Frontieras North America
To our valued shareholders,
Every year, when Thanksgiving arrives, I treat it as more than a holiday. For me, it marks the end of my own fiscal year of the soul—a moment to pause, to take inventory of my life, and to recalibrate before launching into the most important push of the year.
I’ve always believed in the rhythm of gratitude followed by action. Thanksgiving is when I look backward with humility, and the Monday after is when I look forward with conviction. December, for me, is not a month of winding down—it’s a month of execution, diligence, and decisive movement. And as we head into December 2025, Frontieras enters one of the most significant periods in its history.
But first, gratitude.
Giving Thanks—for People, for Purpose, and for Providence
I am profoundly thankful—for the shareholders who have stood with us, for the opportunity we have been granted in this extraordinary nation, and for the liberty that allows innovators, builders, and entrepreneurs to push against the boundaries of what is possible.
Frontieras exists because America still allows free people to solve hard problems. We are witnessing a global landscape where sovereign debt cracks, war cycles, energy shortages, and geopolitical realignments are reshaping the future. And yet, here in the United States, the foundation still holds. We can still build. We can still innovate. We can still lead.
I give thanks to God for that.
This year, more than any other, I have felt the weight and privilege of stewardship—over this company, over its mission, and over the breakthroughs entrusted to us. Our responsibility is not merely financial. It is generational.
Living and Leading with Seasonal Discipline
My personal calendar is engineered around Thanksgiving for a reason.
The four days around Thanksgiving are my reset:
- I quiet the noise.
- I examine what we’ve achieved.
- I confront the areas where we must be better.
- I thank God for what we’ve been given and the path He has put before us.
Then, on the Monday after Thanksgiving, I flip the switch. That Monday is my true New Year’s Day. December becomes the launch pad—a month where most of the world begins slowing down, and we begin accelerating.
This rhythm has guided me for decades, and it’s baked directly into how I run this company. It’s no surprise that many of our biggest strategic leaps—capital commitments, engineering milestones, policy alignment, and commercialization sprints—tend to hit in late Q4. The world might be slowing down, but at Frontieras, December is ignition.
And in 2025, that ignition is more powerful than ever.
A Moment of Opportunity in the Midst of Global Instability
Across the world, nations are wrestling with structural energy shortages, geopolitical realignments, deindustrialization cycles, and the consequences of decades of misguided energy policy. We’ve seen the collapse of ESG as a dominant financial ideology and the revival of pragmatic energy strategy. We’ve watched Europe crumble under the weight of unrealistic net-zero mandates, while nations like China and India surge ahead by embracing hydrocarbons.
Here in America, deregulation and a return to rational energy policy have created the alignment we have long prepared for.
This moment—this convergence—is rare. And it is ours to seize.
The Responsibility Ahead
Frontieras is not simply building a plant. We are not simply commercializing a technology.
We are redefining the entire global sector of coal utilization. We are unlocking the full value of the world’s most abundant hydrocarbon. We are delivering zero-waste, clean hydrocarbon processing that transforms energy, food production, and industrial materials. We are building a foundation for AI, robotics, defense, agriculture, manufacturing, and national security.
And we are doing it profitably, without subsidies, in a market that exceeds $2.1 trillion.
This is why I am thankful—not just for the opportunity, but for the responsibility. At a time when global systems are straining, we have been given the chance to help stabilize, rebuild, and empower.
Why 2025 Matters So Much
December 2025 is the beginning of a major operational surge for Frontieras:
- Advancing engineering pathways toward our flagship West Virginia facility
- Executing critical offtake strategy
- Aligning capital markets preparation
- Advancing partnerships with existing coal plants
- Scaling our transition into fuels, fertilizer, and hydrogen markets
- Preparing for the 2026–2027 construction and commissioning window
Each of these initiatives has the potential to reshape the company—and the industry.
My Commitment to You
As we close our Thanksgiving season and enter our December sprint, I want our shareholders to hear this directly from me:
I am thankful for you. Your belief in this vision is what powers the execution.
I am committed to you. This company is built to reward the people who build it with us.
I am accountable to you. Our mission—delivering abundant, affordable, and available energy—is not just a corporate slogan. It is a national imperative.
And I am faithful to the calling that I believe God has placed on my life and on this enterprise. The work ahead is heavy. But it is righteous, necessary, and transformative.
Looking Forward with Gratitude and Resolve
Thanksgiving gives us the clarity. Monday gives us the momentum. December gives us the breakthrough.
As we now move forward into the final month of 2025, I can say with conviction that this company has never been stronger, more aligned, or more prepared for what is coming.
On behalf of the entire Frontieras leadership team, thank you for your partnership, your support, and your trust.
Energy. Reimagined.
America. Renewed.
The Future. Within Reach.
With gratitude and determination,
Matthew McKean
CEO & Co-Founder
Frontieras North America