Comstock Fuels Executes Agreement With Hexas Biomass
Comstock Fuels has executed an agreement with Hexas Biomass, securing exclusive rights to Hexas' intellectual properties in liquid fuels applications. The partnership combines Comstock's Bioleum refining technology, capable of producing up to 140 gallons per dry metric ton of feedstock, with Hexas' high-yield energy crops that can produce 25-30 dry metric tons per acre annually.
This combination enables production of approximately 100 barrels of fuel per acre per year, significantly outperforming traditional biofuel sources like soy and corn. The agreement includes a $500,000 strategic investment from Comstock into Hexas and plans for a joint development agreement. Comstock plans to demonstrate these capabilities at a 75,000 metric ton per year commercial facility in Oklahoma, including a 5,000-acre fuel farm using Hexas energy crop technologies.
Comstock Fuels ha ufficializzato un accordo con Hexas Biomass, ottenendo diritti esclusivi sulle proprietà intellettuali di Hexas applicate ai combustibili liquidi. La partnership unisce la tecnologia di raffinazione Bioleum di Comstock, capace di produrre fino a 140 galloni per tonnellata metrica secca di materia prima, con le colture energetiche ad alto rendimento di Hexas, in grado di generare 25-30 tonnellate metriche secche per acre all'anno.
Questa combinazione consente la produzione di circa 100 barili di carburante per acre all'anno, superando significativamente le fonti tradizionali di biofuel come la soia e il mais. L'accordo prevede un investimento strategico di 500.000 dollari da parte di Comstock in Hexas e piani per un accordo di sviluppo congiunto. Comstock prevede di dimostrare queste capacità in un impianto commerciale da 75.000 tonnellate metriche all'anno in Oklahoma, inclusa una fattoria di carburante di 5.000 acri che utilizza le tecnologie delle colture energetiche di Hexas.
Comstock Fuels ha ejecutado un acuerdo con Hexas Biomass, asegurando derechos exclusivos sobre las propiedades intelectuales de Hexas en aplicaciones de combustibles líquidos. La asociación combina la tecnología de refinado Bioleum de Comstock, capaz de producir hasta 140 galones por tonelada métrica seca de materia prima, con los cultivos energéticos de alto rendimiento de Hexas que pueden producir 25-30 toneladas métricas secas por acre anualmente.
Esta combinación permite la producción de aproximadamente 100 barriles de combustible por acre por año, superando significativamente las fuentes de biocombustibles tradicionales como la soja y el maíz. El acuerdo incluye una inversión estratégica de 500.000 dólares de Comstock en Hexas y planes para un acuerdo de desarrollo conjunto. Comstock planea demostrar estas capacidades en una instalación comercial de 75.000 toneladas métricas por año en Oklahoma, incluyendo una granja de combustible de 5.000 acres que utiliza las tecnologías de cultivos energéticos de Hexas.
Comstock Fuels는 Hexas Biomass와의 계약을 체결하여 Hexas의 액체 연료 응용 프로그램에 대한 지적 재산권을 독점적으로 확보했습니다. 이 파트너십은 1톤의 건조 원료당 140갤런을 생산할 수 있는 Comstock의 Bioleum 정제 기술과, 매년 에이커당 25-30톤의 건조 원료를 생산할 수 있는 Hexas의 고수확 에너지 작물을 결합합니다.
이 조합으로 연간 에이커당 100배럴의 연료를 생산할 수 있으며, 대두와 옥수수와 같은 전통적인 바이오 연료 원천을 크게 능가합니다. 이 계약에는 50만 달러의 전략적 투자가 포함되어 있으며, Comstock이 Hexas에 대한 투자와 공동 개발 계약 계획을 수립했습니다. Comstock은 오클라호마의 연간 7만5천 톤 규모의 상업 시설에서 이러한 역량을 시험할 계획이며, Hexas의 에너지 작물 기술을 사용하는 5천 에이커의 연료 농장을 포함합니다.
Comstock Fuels a signé un accord avec Hexas Biomass, garantissant des droits exclusifs sur les propriétés intellectuelles d'Hexas dans les applications de combustibles liquides. Ce partenariat combine la technologie de raffinage Bioleum de Comstock, capable de produire jusqu'à 140 gallons par tonne métrique sèche de matière première, avec les cultures énergétiques à haut rendement d'Hexas pouvant produire 25-30 tonnes métriques sèches par acre chaque année.
Cette combinaison permet la production d'environ 100 barils de carburant par acre par an, surpassant de manière significative les sources de biocarburants traditionnels comme le soja et le maïs. L'accord prévoit un investissement stratégique de 500 000 dollars de Comstock dans Hexas et des plans pour un accord de développement conjoint. Comstock prévoit de démontrer ces capacités dans une installation commerciale de 75 000 tonnes métriques par an en Oklahoma, y compris une ferme de carburant de 5 000 acres utilisant les technologies de culture énergétique de Hexas.
Comstock Fuels hat eine Vereinbarung mit Hexas Biomass getroffen, die exklusive Rechte an den geistigen Eigentümern von Hexas im Bereich Flüssigkraftstoffe sichert. Die Partnerschaft kombiniert die Bioleum-Raffinationstechnologie von Comstock, die in der Lage ist, bis zu 140 Gallonen pro trockener metrischer Tonne an Rohstoffen zu produzieren, mit Hexas' hoch-ertragreichen Energiepflanzen, die 25-30 trockene metrische Tonnen pro Acre jährlich liefern können.
Diese Kombination ermöglicht die Produktion von etwa 100 Fässern Kraftstoff pro Acre und Jahr, was die traditionellen Biokraftstoffquellen wie Soja und Mais erheblich übertrifft. Die Vereinbarung umfasst eine strategische Investition von 500.000 Dollar von Comstock in Hexas sowie Pläne für eine gemeinsame Entwicklungsvereinbarung. Comstock plant, diese Fähigkeiten in einer 75.000 metrischen Tonnen pro Jahr umfassenden kommerziellen Einrichtung in Oklahoma zu demonstrieren, einschließlich einer 5.000-Acre-Kraftstofffarm, die die Energietechnologien von Hexas nutzt.
- Technology enables production of 100 barrels of fuel per acre annually, vastly exceeding traditional biofuel yields
- Secured exclusive rights to Hexas' intellectual property for liquid fuels applications
- Plans for 75,000 metric ton commercial demonstration facility in Oklahoma
- Technology capable of producing up to 140 gallons per dry metric ton of feedstock
- Requires $500,000 investment into Hexas
- Commercial facility and implementation still in planning phase, not operational
Insights
The strategic partnership between Comstock Fuels and Hexas Biomass represents a revolutionary advancement in biofuel production efficiency. The combination of Comstock's Bioleum refining technology yielding 140 gallons per dry metric ton with Hexas' high-yield crops producing 25-30 dry metric tons per acre annually creates unprecedented production capacity of 100 barrels of fuel per acre yearly. This is 50x more efficient than traditional soy-based biofuels.
The economics are compelling: utilizing just 5% of U.S. agricultural land (40 million acres) could theoretically satisfy America's entire annual oil demand. The planned 75,000 metric ton commercial facility in Oklahoma, paired with a 5,000-acre fuel farm, will serve as a important proof-of-concept for this scalable model.
The integration of Hexas' proprietary crop technology marks a paradigm shift in biofuel feedstock production. Their specialized energy crops achieve 4-7x higher yields than traditional forestry species while utilizing marginal lands, effectively creating sustainable "drop-in Permian Basins." The
The ability to establish captive, perpetual feedstock supplies for each Bioleum Refinery substantially de-risks the operational model. This vertical integration strategy addresses the critical challenges of reliability, consistency and pricing that have historically plagued biofuel operations.
This deal positions LODE for potential significant market expansion in the renewable fuels sector. The company's technology platform, now enhanced with secured feedstock capabilities, offers a compelling value proposition for potential licensing partners across multiple industries. The planned Oklahoma demonstration facility will be important for validating the commercial viability of this integrated approach.
For investors, key metrics to monitor will be the execution of the Oklahoma project, licensing agreements secured and the scalability of Hexas' crop production model. While the
Combines Pioneering Bioleum Refining Process with High Yield Energy Crops to Create Perpetual “Drop-In Permian Basins” with the Capacity for Domestic Energy Dominance
OKLAHOMA CITY, Jan. 21, 2025 (GLOBE NEWSWIRE) -- Comstock Inc. (NYSE American: LODE) today announced that its subsidiary, Comstock Fuels Corporation (“Comstock Fuels”), a leader in advanced lignocellulosic technologies, has executed an agreement with Hexas Biomass Inc. (“Hexas”), securing exclusive rights to Hexas’ intellectual properties in liquid fuels applications, subject to certain pre-existing agreements and relationships.
Domestic Energy Dominance
Comstock Fuels delivers advanced lignocellulosic biomass refining solutions that set industry benchmarks for production of renewable Bioleum™ fuels at 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.
Hexas has developed a suite of proprietary intellectual properties for the propagation, production, harvesting, and processing of purpose grown energy crops with proven yields exceeding 25 to 30 dry metric tons per acre per year, or about 4 to 7 times the yields of traditional forestry species. Hexas crops are specifically designed to thrive in diverse environments, including marginal or underutilized lands, that complement and enhance the current agricultural ecosystem without disrupting or competing with food production.
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 into perpetual “drop-in sedimentary oilfields” with the potential to dramatically boost domestic energy independence and expand and elevate rural economies while using regenerative agricultural practices. For comparison, producers of soy and corn only net about 2 and 10 barrels of biofuel per acre per year, respectively.
The New Standard in Oil
“The U.S. DOE has previously estimated that America can produce upwards of one billion tons per year of biomass for conversion into transportation fuels,” said Kevin Kreisler, Comstock Fuels’ chief technology officer. “That’s enough to produce more than 3 billion barrels of fuel per year with our refining solutions. Converting just
Comstock Fuels plans to partner with oil producers and enable domestic energy dominance by directly building, owning, and operating a network of U.S. Bioleum Refineries. Comstock Fuels plans to demonstrate the remarkable economic and other incentives of its solutions at scale with a 75,000 metric ton per year commercial demonstration facility in Oklahoma, which is now also planned to include a local 5,000-acre fuel farm based on the Hexas energy crop technologies.
Transformative Development Opportunity
“At Hexas, we believe in making the highest and best use of natural resources,” added Wendy Owens, Hexas’ chief executive officer. “This includes providing industries with access to abundant, carbon negative, and ecologically positive feedstocks. Our philosophical and strategic alignment with Comstock leverages two quality-minded systems capable of sustainable, global, natural, social and financial impact. We are ready to integrate and deploy our capacity and solutions into what should quickly prove out to be a truly carbon negative impact in liquid fuels.”
“Including an embedded feedstock model in our system provides unprecedented benefits to our renewable fuel solutions, supply chains and partners,” added David Winsness, Comstock Fuels’ president. “While our solutions are designed to process most known forms of lignocellulosic biomass, the Hexas technologies now allow us to “anchor” each of our owned and licensed Bioleum Refineries with a captive, perpetual feedstock supply, ensuring the reliability, consistency, scale, and pricing needed to mitigate risk and maximize profitability. Existing project developers and producers should consider this announcement as an open call to partner with us to change their process technologies and elevate their solutions.”
Kreisler concluded, “Our ultimate ambition is to build shareholder value by systemically empowering agricultural, forestry, pulp and paper, renewable fuels, petroleum, energy, and mobility stakeholders to license and deploy our solutions across their respective industries at speeds that are far greater than any single company could ever achieve. We are laser focused on enabling that system, and we couldn’t be more excited to partner with Hexas and its remarkable team.”
The new agreement also calls for a
About Hexas Biomass Inc.
Hexas Biomass Inc. (“Hexas”) produces purpose grown plant-based feedstock solutions from proprietary varieties of a giant perennial grasses, including XanoGrass™ to produce XanoFiber™. XanoGrass™ is a perennial, fast growing, extremely high yielding biomass that is pest resistant, with remarkably wide climate and soil type adaptions that supplements traditional feedstocks at equal or better performances and lowers costs while leveraging existing infrastructures.
About Comstock Fuels Corporation
Comstock Fuels Corporation (“Comstock”) 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 plans to contribute to domestic energy dominance by directly building, owning, and operating 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 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 and mineral discovery for sustainable mining. To learn more, please visit www.comstock.inc.
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Contacts
For investor inquiries:
RB Milestone Group LLC
Tel (203) 487-2759
ir@comstockinc.com
For media inquiries or questions:
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Tel (775) 847-7573
media@comstockinc.com
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FAQ
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