Comstock Fuels Establishes Headquarters in Oklahoma
Comstock Fuels , a subsidiary of Comstock (NYSE American: LODE), has established its headquarters in Northwest Oklahoma City, securing the first $1 million of a $3 million grant from Oklahoma's Quick Action Closing Fund. This strategic relocation supports the company's expansion plans and development of renewable fuel facilities in the state.
The company plans to build its first 75,000 metric ton per year commercial demonstration facility in Oklahoma, focusing on producing cellulosic ethanol, gasoline, renewable diesel, sustainable aviation fuel (SAF), and other renewable fuels using proprietary biomass refining solutions. The remaining $2 million in grants will be disbursed as the company meets specific milestones, with the second payment triggered upon securing a location for the demonstration facility.
Comstock Fuels, una filiale di Comstock (NYSE American: LODE), ha stabilito la sua sede nel Northwest Oklahoma City, assicurandosi il primo milione di dollari di una sovvenzione di 3 milioni di dollari dal Quick Action Closing Fund dell'Oklahoma. Questa relocation strategica supporta i piani di espansione dell'azienda e lo sviluppo di impianti per carburanti rinnovabili nello stato.
L'azienda prevede di costruire il suo primo impianto dimostrativo commerciale da 75.000 tonnellate metriche all'anno in Oklahoma, concentrandosi sulla produzione di etanolo cellulosico, benzina, diesel rinnovabile, carburante sostenibile per l'aviazione (SAF) e altri carburanti rinnovabili utilizzando soluzioni proprietarie di raffinazione della biomassa. I restanti 2 milioni di dollari di sovvenzioni saranno erogati man mano che l'azienda raggiunge traguardi specifici, con il secondo pagamento attivato al momento della sicurezza di una sede per l'impianto dimostrativo.
Comstock Fuels, una subsidiaria de Comstock (NYSE American: LODE), ha establecido su sede en el noroeste de Oklahoma City, asegurando el primer millón de dólares de una subvención de 3 millones de dólares del Quick Action Closing Fund de Oklahoma. Esta reubicación estratégica apoya los planes de expansión de la empresa y el desarrollo de instalaciones de combustibles renovables en el estado.
La empresa planea construir su primera instalación comercial de demostración de 75,000 toneladas métricas por año en Oklahoma, enfocándose en producir etanol celulósico, gasolina, diésel renovable, combustible sostenible para aviación (SAF) y otros combustibles renovables utilizando soluciones de refinación de biomasa patentadas. Los 2 millones de dólares restantes en subvenciones se desembolsarán a medida que la empresa cumpla con hitos específicos, siendo el segundo pago activado al asegurar un lugar para la instalación de demostración.
Comstock Fuels는 Comstock(NYSE American: LODE)의 자회사로, 오클라호마시티 북서부에 본사를 두었으며, 오클라호마의 신속 행동 마감 기금에서 300만 달러 보조금 중 첫 100만 달러를 확보했습니다. 이 전략적인 이전은 회사의 확장 계획과 주 내에서의 재생 가능한 연료 시설 개발을 지원합니다.
회사는 오클라호마에 첫 번째 연간 75,000미터톤 상업 시연 시설을 건설할 계획이며, 이는 세포소재 에탄올, 가솔린, 재생 디젤, 지속 가능한 항공 연료(SAF) 및 독점 생물질 정제 솔루션을 사용하여 기타 재생 가능한 연료를 생산하는 데 중점을 둡니다. 남은 200만 달러 보조금은 회사가 특정 이정표를 달성함에 따라 지급되며, 두 번째 지급은 시연 시설의 위치 확보 시점에서 이루어집니다.
Comstock Fuels, une filiale de Comstock (NYSE American: LODE), a établi son siège social dans le nord-ouest d'Oklahoma City, obtenant le premier million de dollars d'une subvention de 3 millions de dollars du Quick Action Closing Fund de l'Oklahoma. Cette relocalisation stratégique soutient les plans d'expansion de l'entreprise et le développement d'installations de carburants renouvelables dans l'état.
L'entreprise prévoit de construire sa première installation de démonstration commerciale de 75 000 tonnes métriques par an en Oklahoma, se concentrant sur la production d'éthanol cellulosique, d'essence, de diesel renouvelable, de carburant d'aviation durable (SAF) et d'autres carburants renouvelables en utilisant des solutions propriétaires de raffinage de biomasse. Les 2 millions de dollars restants seront versés lorsque l'entreprise atteindra des étapes spécifiques, le deuxième paiement étant déclenché lors de la sécurisation d'un emplacement pour l'installation de démonstration.
Comstock Fuels, eine Tochtergesellschaft von Comstock (NYSE American: LODE), hat ihren Hauptsitz im Nordwesten von Oklahoma City gegründet und sich die ersten 1 Million Dollar von einem Gesamtbetrag von 3 Millionen Dollar aus dem Quick Action Closing Fund von Oklahoma gesichert. Diese strategische Verlagerung unterstützt die Expansionspläne des Unternehmens und die Entwicklung von erneuerbaren Brennstoffanlagen im Bundesstaat.
Das Unternehmen plant den Bau seiner ersten 75.000 Tonnen pro Jahr kommerziellen Demonstrationsanlage in Oklahoma, die sich auf die Produktion von cellulosischem Ethanol, Benzin, erneuerbarem Diesel, nachhaltigem Flugbenzin (SAF) und anderen erneuerbaren Brennstoffen mit proprietären Biomasse-Raffinierungslösungen konzentriert. Die verbleibenden 2 Millionen Dollar an Zuschüssen werden ausgezahlt, sobald das Unternehmen spezifische Meilensteine erreicht, wobei die zweite Zahlung ausgelöst wird, sobald ein Standort für die Demonstrationsanlage gesichert ist.
- Secured $1 million initial payment from $3 million total state grant
- Established strategic headquarters location in Oklahoma City
- Plans for 75,000 MTPY commercial demonstration facility
- Additional $2 million in grant funding available upon meeting milestones
- None.
Insights
This strategic move by Comstock Inc. (NYSE American: LODE) marks a pivotal financial and operational milestone, securing
The planned 75,000 MTPY commercial demonstration facility is particularly noteworthy for investors because:
- It positions Comstock Fuels to tap into the rapidly growing sustainable aviation fuel (SAF) market, projected to reach
$15.7 billion by 2030 - The staged grant payments (
$1 million per milestone) provide non-dilutive funding for facility development - Oklahoma's energy-friendly regulatory environment could accelerate project timelines and reduce operational costs
The selection of Oklahoma City as headquarters is strategically sound, offering:
- Lower operating costs compared to coastal locations
- Access to established energy infrastructure and skilled workforce
- Proximity to major transportation hubs for product distribution
For investors, this development reduces execution risk through government support while providing a clear pathway to commercialization. The next catalyst to watch is the selection of the demonstration facility location, which will trigger the second
Secures First
OKLAHOMA CITY, Jan. 23, 2025 (GLOBE NEWSWIRE) -- Comstock Inc. (NYSE American: LODE) today announced that its subsidiary, Comstock Fuels Corporation (the “Company”), a leader in advanced lignocellulosic biomass refining solutions, has established its corporate headquarters in Oklahoma City, Oklahoma. The completion of this strategic milestone triggers the first of three
Comstock Fuels' new headquarters will be located in Northwest Oklahoma City, providing a central hub for its expanding operations. “We're excited to establish our headquarters and rapidly expand our presence in Oklahoma, a state with a strong pedigree for energy and a wealth of resources for supporting our industry,” said David Winsness, President of Comstock Fuels. “This accelerates our growth and supports domestic energy dominance as we begin to build a network of Bioleum Refineries across the U.S., starting right here in Oklahoma.”
The relocation was incentivized by a
"We're thrilled to welcome Comstock Fuels to Oklahoma and congratulate them on their success,” said Evan Brown, Executive Director of EDGE. “Oklahoma’s rich history of energy innovation and business-friendly environment makes our state the perfect choice for this type of investment.”
Comstock Fuels is currently assessing multiple, qualified locations in Oklahoma for the construction of its initial commercial demonstration facility, that once secured, triggers the second of the three
About 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 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, lignin content, site conditions, and other process parameters. Comstock Fuels plans to directly build, own, and operate a network of Bioleum Refineries in the U.S. to refine 50 million tons of biomass annually into 8 billion gallons of renewable fuel by 2035, starting with its first 75,000 TPY commercial demonstration facility in Oklahoma. Comstock Fuels also licenses its advanced 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. To learn more, please visit www.comstock.inc.
Comstock Social Media Policy
Comstock 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:
Comstock Inc., Tracy Saville
Tel (775) 847-7573
media@comstockinc.com
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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. 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FAQ
What is the total grant amount Comstock Fuels (LODE) received from Oklahoma's Quick Action Closing Fund?
What is the planned capacity of Comstock Fuels' (LODE) first commercial demonstration facility in Oklahoma?
What types of renewable fuels will Comstock Fuels (LODE) produce at its Oklahoma facility?
What triggers the second $1 million payment from Oklahoma's grant to Comstock Fuels (LODE)?
