Comstock Fuels Completes All Validation Milestones
VIRGINIA CITY, Nev., Oct. 17, 2023 (GLOBE NEWSWIRE) -- Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”) today announced completion of all milestones required for the scale-up of its proprietary lignocellulosic biomass refining process, culminating in the execution by its wholly owned subsidiary, Comstock Fuels Corporation (“Comstock Fuels”), of an exclusive license agreement with RenFuel K2B AB (“RenFuel”) for use of RenFuel’s patented catalytic esterification process to refine Comstock Fuel’s proprietary Bioleum™ biointermediates in North America, Central America, and South America.
- VIRGINIA CITY, Nev., Oct. 17, 2023 (GLOBE NEWSWIRE) -- Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”) today announced completion of all milestones required for the scale-up of its proprietary lignocellulosic biomass refining process, culminating in the execution by its wholly owned subsidiary, Comstock Fuels Corporation (“Comstock Fuels”), of an exclusive license agreement with RenFuel K2B AB (“RenFuel”) for use of RenFuel’s patented catalytic esterification process to refine Comstock Fuel’s proprietary Bioleum™ biointermediates in North America, Central America, and South America.
- On April 28, 2023, Comstock Fuels entered into a Memorandum of Understanding with RenFuel to obtain an exclusive license for use of RenFuel’s technologies subject to process validation, which has been recently completed.
- Consequently, on October 11, 2023, Comstock Fuels entered into an Exclusive License Agreement with RenFuel for use of its patented process in North America, Central America, and South America.
- “The agreement with RenFuel complements our existing technology portfolio and marks the culmination of comprehensive process validation efforts completed over the past eighteen months.