Friday, December 29, 2023
Comstock (NYSE: LODE) innovates technologies that contribute to global decarbonization and circularity by efficiently converting under-utilized natural resources into renewable fuels and electrification products that contribute to balancing global uses and emissions of carbon. The Company intends to achieve exponential growth and extraordinary financial, natural, and social gains by building, owning, and operating a fleet of advanced carbon neutral extraction and refining facilities, by selling an array of complimentary process solutions and related services, and by licensing selected technologies to qualified strategic partners. To learn more, please visit www.comstock.inc.
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Comstock executes its first biorefinery commercial agreement. Comstock Fuels Corporation, a wholly owned subsidiary, executed a term sheet with RenFuel K2B AB to advance Comstock’s first commercial biorefinery. The transaction includes an option for Comstock to acquire a majority interest in RenFuel K2B Lignolproduktion AB (the JV), a subsidiary of RenFuel that previously completed preliminary engineering for a new biorefinery using RenFuel’s patented catalytic esterification process to refine lignin from byproducts of paper production into a bio-intermediate for refining into sustainable aviation fuel and renewable diesel in Europe. Comstock and RenFuel are evaluating requirements to include an additional 25,000 tons per year of biorefining capacity based on Comstock’s cellulosic ethanol and Bioleum-derived fuels technologies. The integrated site would represent Comstock’s first Bioleum hub. The transaction is expected to close by January 31, 2024.
Financial terms. Comstock committed to making a strategic $3,000,000 investment in RenFuel that is payable over the next three years for the continued development and commercialization of advanced applications of both companies’ complementary technologies. For more detailed information, we refer investors to Comstock’s filing with the Securities and Exchange Commission.
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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
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