Comstock Fuels and SACL Execute Definitive Commercial Agreements
Comstock Inc. (NYSE: LODE) announced definitive agreements between Comstock Fuels and SACL Pte. , expanding their licensing agreement into Malaysia for renewable fuels production. The agreement grants SACL exclusive marketing rights in Australia, New Zealand, Vietnam, and Malaysia.
SACL has identified four sites for Bioleum™ Refineries with a combined capacity to produce over 400 million gallons of renewable fuel per dry metric ton. Under the agreement, Comstock Fuels receives a 20% equity stake in each refinery, 6% royalty on licensed product sales, and 6% engineering fees on construction costs.
The four planned refineries have an estimated construction cost of $4.0 billion and will produce approximately 280 million gallons per year of renewable fuels from biomass and 180 million GGE from vegetable oils, with projected annual sales of $3.0 billion at current prices.
Comstock Inc. (NYSE: LODE) ha annunciato accordi definitivi tra Comstock Fuels e SACL Pte., espandendo il loro accordo di licenza in Malesia per la produzione di combustibili rinnovabili. L'accordo concede a SACL diritti di marketing esclusivi in Australia, Nuova Zelanda, Vietnam e Malesia.
SACL ha identificato quattro siti per le raffinerie Bioleum™ con una capacità complessiva di produrre oltre 400 milioni di galloni di combustibile rinnovabile per tonnellata metrica secca. In base all'accordo, Comstock Fuels riceve una partecipazione azionaria del 20% in ciascuna raffineria, royalty del 6% sulle vendite dei prodotti autorizzati e fee ingegneristiche del 6% sui costi di costruzione.
Le quattro raffinerie pianificate hanno un costo di costruzione stimato di 4,0 miliardi di dollari e produrranno circa 280 milioni di galloni all'anno di combustibili rinnovabili dalla biomassa e 180 milioni di GGE da oli vegetali, con vendite annuali previste di 3,0 miliardi di dollari ai prezzi attuali.
Comstock Inc. (NYSE: LODE) anunció acuerdos definitivos entre Comstock Fuels y SACL Pte., ampliando su acuerdo de licencia en Malasia para la producción de combustibles renovables. El acuerdo otorga a SACL derechos de comercialización exclusivos en Australia, Nueva Zelanda, Vietnam y Malasia.
SACL ha identificado cuatro sitios para refinerías Bioleum™ con una capacidad combinada para producir más de 400 millones de galones de combustible renovable por tonelada métrica seca. Bajo el acuerdo, Comstock Fuels recibe una participación del 20% en cada refinería, un 6% de regalías sobre las ventas de productos licenciados y un 6% de honorarios de ingeniería sobre los costos de construcción.
Las cuatro refinerías planificadas tienen un costo de construcción estimado de 4,0 mil millones de dólares y producirán aproximadamente 280 millones de galones al año de combustibles renovables a partir de biomasa y 180 millones de GGE a partir de aceites vegetales, con ventas anuales proyectadas de 3,0 mil millones de dólares a los precios actuales.
컴스톡 Inc. (NYSE: LODE)는 컴스톡 연료와 SACL Pte 간의 최종 계약을 발표하며, 말레이시아에서 재생 가능한 연료 생산을 위한 라이센스 계약을 확장했습니다. 이 계약은 SACL에게 호주, 뉴질랜드, 베트남 및 말레이시아에서 독점 마케팅 권리를 부여합니다.
SACL은 약 400백만 갤런의 재생 가능 연료를 생산할 수 있는 네 곳의 Bioleum™ 정유소 사이트를 확인했습니다. 계약에 따라 컴스톡 연료는 각 정유소에서 20%의 지분, 라이선스 제품 판매에 대해 6%의 로열티, 그리고 건설 비용에 대해 6%의 엔지니어링 수수료를 받습니다.
계획된 네 개의 정유소는 40억 달러의 건설 비용이 예상되며, 바이오매스에서 연간 약 2억 8000만 갤런의 재생 가능 연료와 식물성 기름에서 1억 8000만 GGE를 생산할 것으로 예상되며, 현재 가격으로 연간 30억 달러의 매출이 예상됩니다.
Comstock Inc. (NYSE: LODE) a annoncé des accords définitifs entre Comstock Fuels et SACL Pte., élargissant leur accord de licence en Malaisie pour la production de combustibles renouvelables. L'accord confère à SACL des droits de commercialisation exclusifs en Australie, Nouvelle-Zélande, Vietnam et Malaisie.
SACL a identifié quatre sites pour des raffineries Bioleum™ ayant une capacité combinée de production de plus de 400 millions de gallons de carburant renouvelable par tonne métrique sèche. En vertu de l'accord, Comstock Fuels reçoit une participation de 20% dans chaque raffinerie, 6% de redevances sur les ventes de produits sous licence et 6% de frais d'ingénierie sur les coûts de construction.
Les quatre raffineries prévues ont un coût de construction estimé à 4,0 milliards de dollars et produiront environ 280 millions de gallons par an de combustibles renouvelables à partir de biomasse et 180 millions de GGE à partir d'huiles végétales, avec des ventes annuelles projetées de 3,0 milliards de dollars aux prix actuels.
Comstock Inc. (NYSE: LODE) hat definitive Vereinbarungen zwischen Comstock Fuels und SACL Pte. bekannt gegeben, die ihre Lizenzvereinbarung für die Produktion erneuerbarer Kraftstoffe in Malaysia erweitern. Die Vereinbarung gewährt SACL exklusive Vermarktungsrechte in Australien, Neuseeland, Vietnam und Malaysia.
SACL hat vier Standorte für Bioleum™ Raffinerien identifiziert, die eine kombinierte Kapazität zur Produktion von über 400 Millionen Gallonen erneuerbarem Kraftstoff pro trockener metrischer Tonne haben. Im Rahmen der Vereinbarung erhält Comstock Fuels eine 20%igen Anteil an jeder Raffinerie, 6% Tantiemen auf die Verkaufszahlen der lizenzierten Produkte und 6% Ingenieurohnungen auf die Baukosten.
Die vier geplanten Raffinerien haben geschätzte Baukosten von 4,0 Milliarden Dollar und werden voraussichtlich etwa 280 Millionen Gallonen erneuerbare Kraftstoffe aus Biomasse und 180 Millionen GGE aus Pflanzenölen pro Jahr produzieren, mit prognostizierten jährlichen Verkaufszahlen von 3,0 Milliarden Dollar zu den aktuellen Preisen.
- Expansion into new territory (Malaysia) for market presence
- 20% equity stake in each refinery plus 6% royalty and engineering fees
- Four planned refineries with $4.0 billion total construction value
- Projected $3.0 billion annual sales from planned refineries
- High yield capacity of 125 GGEs per dry metric ton with low carbon intensity scores
- Initial smaller capacity of 75,000 MTPY with reduced royalty fees of 3%
- Significant capital requirements for construction ($4.0 billion)
Insights
The execution of definitive agreements between Comstock Fuels and SACL represents a major commercial milestone with substantial revenue potential. The deal structure is particularly compelling, featuring multiple revenue streams:
- A 20% equity stake in each Bioleum Refinery provides long-term value capture
- 6% royalty fees on product sales create recurring revenue
- 6% engineering fees on construction costs offer immediate cash flow
- Initial
$2.5 million upfront payments per site provide near-term liquidity
The economics are substantial - with projected annual sales of
The technology's superior yield of 125 GGEs per dry metric ton with a carbon intensity score of 15 positions Comstock advantageously in the rapidly growing Sustainable Aviation Fuel (SAF) market. This is particularly relevant given global airlines' commitments to SAF adoption and regulatory pushes for cleaner aviation fuel alternatives.
The expansion into Malaysia strategically broadens SACL's territory in a region with abundant biomass resources and growing renewable fuel demand. The total planned production capacity of 1.38 billion GGE annually demonstrates significant scale, potentially establishing Comstock as a major player in the global renewable fuels market.
The Asia-Pacific renewable fuels market represents a strategic growth opportunity, with Malaysia's addition significantly enhancing SACL's regional footprint. Key market dynamics support this expansion:
- Strong regional biomass availability, particularly from agricultural residues and purpose-grown feedstocks
- Increasing government support for renewable fuel initiatives across Southeast Asia
- Growing aviation sector demand for SAF in the Asia-Pacific region
The scalability model, starting with 75,000 MTPY facilities before expanding to larger capacities, demonstrates a prudent approach to market entry and risk management. This phased expansion strategy allows for operational optimization while maintaining flexibility to adapt to market conditions.
The timing of this expansion coincides with several favorable market factors:
- Increasing global regulatory pressure for sustainable aviation fuels
- Rising corporate commitments to carbon reduction
- Growing investment in renewable fuel infrastructure
The combination of proven technology, strategic market positioning and scalable implementation creates a compelling competitive advantage in the rapidly evolving renewable fuels sector.
Expands Licensing Agreement into Malaysia for SAF and Other Renewable Fuels
OKLAHOMA CITY, Jan. 30, 2025 (GLOBE NEWSWIRE) -- Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”) today announced the execution of definitive agreements between Comstock Fuels Corporation (“Comstock Fuels”) and SACL Pte. Limited (“SACL”), a Singapore-based renewable fuel project developer, under which Comstock Fuels and SACL signed an exclusive marketing agreement for Comstock Fuels’ advanced lignocellulosic biomass refining processes in Australia, New Zealand, Vietnam and Malaysia. The definitive agreements finalized all documentation and increase SACL’s territory to facilitate the financing, construction, and operation of additional SACL’s sites in Malaysia, adding to the four existing sites currently under development in Australia and Vietnam, now totaling over 400 million gallons of renewable fuel per dry metric ton of feedstock (on a gasoline gallon equivalent basis, or “GGE”).
Early Adopter License Terms
SACL and its stakeholders previously identified four qualified sites for the construction of four Bioleum™ Refineries based on Comstock Fuels’ industry leading yields and decarbonizing impact, including (1) a 250,000 metric ton per year (“MTPY”) refinery located at Myamyn, near Portland, Victoria, Australia, (2) a 250,000 MTPY refinery located near Moree, New South Wales, Australia, (3) a 750,000 MTPY refinery located near Mackay, Queensland, Australia, and (4) a 750,000 MTPY Bioleum Refinery in Quang Tri Province, Vietnam. SACL also has sites under negotiations in New Zealand and Malaysia.
Under the terms of Comstock Fuels’ agreement with SACL, Comstock Fuels will contribute site specific technology rights in exchange for a
The four planned Bioleum Refineries will have an estimated total construction cost of over
Best-in-Class Yield and Carbon Intensity
Comstock Fuels offers advanced lignocellulosic biomass refining solutions that produce market-leading yields of cellulosic ethanol, gasoline, renewable diesel, sustainable aviation fuel, and other renewable fuels at extremely low carbon intensities. The Comstock Fuels process generally involves: (1) digestion and fractionation of lignocellulosic biomass, (2) bioconversion of cellulose into Cellulosic Ethanol, (3) esterification of lignin and other derivatives into Bioleum Oil, (4) hydrodeoxygenation of Bioleum Oil into Hydrodeoxygenated Bioleum Oil, (5) refining of these extremely low carbon oils and fuels into ASTM compliant renewable fuels, and (6) gas-to-liquids emissions capture and fuel conversion. The first five of these processes are proven to produce up to 125 GGEs per dry metric ton of feedstock on a gasoline gallon equivalent basis, depending on feedstock, lignin content, site conditions, and other process parameters, with extremely low carbon intensity scores of 15.
Wide Open Market, Unprecedented Results
“Comstock Fuels’ breakthrough yields unlock an abundant, available and efficient feedstock source that enables extraordinary new opportunities for renewable fuels project developers, especially given the ongoing global surge in demand for sustainable aviation fuel,” said Garry Millar, SACL’s founder and director. “Comstock’s process uses reliable, available equipment and standard refining processes to convert woody and woody-like biomass, such as purpose grown eucalyptus and Hexas’ XanoGrass™ into renewable intermediates and fuels that leverage existing supply chains. We are pleased to have these definitive agreements completed, including the expansion into Malaysia, and we are looking forward to working with David and the expanded local team to develop our growing portfolio of projects.”
“SACL’s team has continued advancing and expanding their projects, and I look forward to meeting with Garry next week in Australia, as we collaborate and advance all of our mutual objectives in Asia,” stated David Winsness, president of Comstock Fuels. “The prospective site in New Zealand is truly outstanding.”
Comstock Fuels is concurrently executing on its own plans to build, own, and operate the first 75,000 MTPY demonstration scale facility in Oklahoma, followed by three additional 75,000 MTPY facilities, each of which would then be scaled-up to 1,000,000 MTPY commercial scale Bioleum refineries. Collectively, the first four planned U.S. facilities will produce more than 920 million GGE per year of renewable fuels, including about 560 million GGE from woody and woody-like biomass and another 360 million GGE from vegetable oils. Between SACL and our initial plans alone, Comstock Fuels is planning for over 1.38 billion GGE per year of initial renewable fuel production before considering all other licensees and projects in the commercial development pipeline.
About SACL Pte. Limited
SACL is a Singapore-based project development and management company that intends to develop renewable energy projects in Australia, New Zealand, and Vietnam. To learn more, please visit www.saclimited.com.
About Comstock Fuels Corporation
Comstock Fuels Corporation (“Comstock Fuels”) delivers advanced lignocellulosic biomass refining solutions that set industry benchmarks for production of cellulosic ethanol, gasoline, renewable diesel, sustainable aviation fuel (“SAF”), and other renewable Bioleum™ fuels, with extremely low carbon intensity scores of 15 and market-leading yields of up to 140 gallons per dry metric ton of feedstock (on a gasoline gallon equivalent basis, or “GGE”), depending on feedstock, site conditions, and other process parameters. Comstock Fuels additionally holds the exclusive rights to intellectual properties developed by Hexas Biomass Inc. (“Hexas”) for production of purpose grown energy crops in liquid fuels applications with proven yields exceeding 25 to 30 dry metric tons per acre per year. The combination of Comstock Fuels’ high yield Bioleum refining platform and Hexas’ high yield energy crops allows for the production of enough feedstock to produce upwards of 100 barrels of fuel per acre per year, effectively transforming marginal agricultural lands with regenerative practices into perpetual “drop-in sedimentary oilfields” with the potential to dramatically boost regional energy security and rural economies.
Comstock Fuels plans to contribute to domestic energy dominance by directly building, owning, and operating a network of Bioleum Refineries in the U.S. to produce about 200 million barrels of renewable fuel per year by 2035, starting with its planned first 400,000 barrel per year commercial demonstration facility in Oklahoma. Comstock Fuels also licenses its advanced feedstock and refining solutions to third parties for additional production in the U.S. and global markets, including several recently announced and other pending projects. To learn more, please visit www.comstockfuels.com.
About Comstock Inc.
Comstock Inc. (NYSE: LODE) innovates and commercializes technologies that are deployable across entire industries to contribute to energy abundance by efficiently extracting and converting under-utilized natural resources, such as waste and other forms of woody biomass into renewable fuels, and end-of-life electronics into recovered electrification metals. Comstock’s innovations group is also developing and using artificial intelligence technologies for advanced materials development and mineral discovery for sustainable mining. To learn more, please visit www.comstock.inc.
Comstock Social Media Policy
Comstock Inc. has used, and intends to continue using, its investor relations link and main website at www.comstock.inc in addition to its Twitter, LinkedIn and YouTube accounts, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.
Contacts
For investor inquiries:
RB Milestone Group LLC
Tel (203) 487-2759
ir@comstockinc.com
For media inquiries or questions:
Colby Korsun
Comstock Fuels Corporation
fuels@comstockinc.com
Forward-Looking Statements
This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future market conditions; future explorations or acquisitions; future changes in our research, development and exploration activities; future financial, natural, and social gains; future prices and sales of, and demand for, our products and services; land entitlements and uses; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land and asset sales; investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives, including the nature, timing and accounting for restructuring charges, derivative assets and liabilities and the impact thereof; contingencies; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings, limitations on sales or offering of equity or debt securities, including asset sales and associated costs; business opportunities, growth rates, future working capital, needs, revenues, variable costs, throughput rates, operating expenses, debt levels, cash flows, margins, taxes and earnings. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments, and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: adverse effects of climate changes or natural disasters; adverse effects of global or regional pandemic disease spread or other crises; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, and lithium, nickel and cobalt recycling, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration, metal recycling, processing or mining activities; costs, hazards and uncertainties associated with precious and other metal based activities, including environmentally friendly and economically enhancing clean mining and processing technologies, precious metal exploration, resource development, economic feasibility assessment and cash generating mineral production; costs, hazards and uncertainties associated with metal recycling, processing or mining activities; contests over our title to properties; potential dilution to our stockholders from our stock issuances, recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting our businesses; permitting constraints or delays; challenges to, or potential inability to, achieve the benefits of business opportunities that may be presented to, or pursued by, us, including those involving battery technology and efficacy, quantum computing and generative artificial intelligence supported advanced materials development, development of cellulosic technology in bio-fuels and related material production; commercialization of cellulosic technology in bio-fuels and generative artificial intelligence development services; ability to successfully identify, finance, complete and integrate acquisitions, joint ventures, strategic alliances, business combinations, asset sales, and investments that we may be party to in the future; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, lithium, nickel, cobalt, cyanide, water, diesel, gasoline and alternative fuels and electricity); changes in generally accepted accounting principles; adverse effects of war, mass shooting, terrorism and geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the Securities and Exchange Commission; potential inability to list our securities on any securities exchange or market or maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund, or any other issuer.
FAQ
What are the financial terms of Comstock Fuels' agreement with SACL for LODE shareholders?
How many gallons of renewable fuel will SACL's four Bioleum Refineries produce annually?
What is the total construction cost for SACL's four planned Bioleum Refineries?
What territories are included in SACL's exclusive marketing agreement with LODE?
What is the projected annual sales revenue from SACL's four refineries?
