Comstock Fuels Targets More Sustainable Aviation Fuel
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Insights
The grant awarded to RenFuel by the Swedish Energy Agency is a strategic investment in the development of more efficient Sustainable Aviation Fuel (SAF) production. The focus on enhancing yields through catalytic esterification of lignin co-products from paper production represents a notable advancement in the biofuels sector. This technology has the potential to improve the economic viability of SAF by utilizing a byproduct from an existing industry, thereby reducing waste and contributing to a circular economy.
For stakeholders, particularly investors in Comstock Inc. and the broader energy market, this development could signal a strengthening of Comstock Fuels' competitive position. The ability to produce higher yields of SAF at lower carbon intensities aligns with global carbon reduction commitments and the increasing demand for cleaner aviation fuels. However, the scale-up from demonstration to commercial production poses risks, including technological challenges and market acceptance. The long-term effect could be substantial if RenFuel's technology proves scalable and cost-effective, potentially leading to broader adoption within the biofuels industry and positive impacts on Comstock's market share and profitability.
RenFuel's grant-supported project addresses a pressing issue in the transition to sustainable energy sources: the production of SAF with lower environmental impact. The use of lignocellulosic biomass, such as the lignin from paper production, is a promising route due to the abundance and renewability of the feedstock. The technology could lead to a significant reduction in greenhouse gas emissions compared to traditional jet fuels, which is critical for the aviation industry's goal of achieving net-zero emissions.
However, the success of such initiatives hinges on the balance between environmental benefits and economic feasibility. While the grant is a positive step, the long-term sustainability of this technology will depend on consistent policy support, market incentives for low-carbon fuels and the ongoing development of supply chains for biomass feedstocks. Additionally, the integration of this technology into existing infrastructure will be essential for its widespread adoption.
The enhancement of RenFuel's SAF production technology could have significant implications for the aviation industry, which is under increasing pressure to reduce its carbon footprint. The aviation sector's adoption of SAF is critical to meeting international climate targets and advancements in SAF yield and production efficiency are vital for making these fuels more accessible and cost-effective. Comstock's involvement and exclusive licensing agreement with RenFuel suggest a proactive approach to capturing market share in the emerging SAF market.
However, the aviation industry's transition to SAF is contingent on factors such as fuel compatibility with existing aircraft engines, regulatory approvals and the availability of feedstock. The scalability of RenFuel's technology will be a crucial factor in determining its impact on the industry. If successful, this could catalyze further investments and partnerships in the sector, potentially leading to a more rapid shift towards sustainable aviation practices.
Technology Partner RenFuel Awarded Grant to Demonstrate Increased Sustainable Aviation Fuel Yields
VIRGINIA CITY, Nev., Dec. 19, 2023 (GLOBE NEWSWIRE) -- Comstock Inc. (NYSE: LODE) (“Comstock” or the “Company”) and its wholly owned subsidiary, Comstock Fuels Corporation (“Comstock Fuels”), today announced that Comstock Fuels’ biointermediate refining technology partner, RenFuel K2B AB (“RenFuel”), was awarded a Swedish Energy Agency grant of SEK 4.9 million (nearly US
“Breakthroughs in SAF availability are critical for achieving net zero aviation timely,” said Corrado De Gasperis, Comstock’s Executive Chairman and Chief Executive Officer. “While we are not directly participating in or receiving funds under RenFuel’s new grant, their work on this project should significantly increase the capabilities and value of RenFuel’s platform.”
Comstock Fuels converts lignocellulosic biomass into Cellulosic Ethanol and proprietary BioleumTM biointermediate blends at extraordinary yields exceeding 100 gallons per dry tonne of biomass on a gasoline gallon equivalent basis (“GGE”), and market-leading, extremely low carbon intensity (“CI”) scores of 15. Comstock Fuels is already using RenFuel’s catalytic esterification technology to refine its proprietary BioleumTM derivatives into Hydrodeoxygenated Bioleum Oil (“HBO”) for use by advanced biofuel refineries when blending with, diversifying, and extending conventional hydroprocessed fat, oil, and grease feedstocks that can simultaneously produce SAF and Renewable Diesel Fuel. Shifting the resulting product ratio in favor of maximizing Sustainable Aviation Fuel yields using RenFuel’s technology is a primary objective of the work under this grant project.
De Gasperis concluded: “Comstock’s exclusive Americas license of the RenFuel technology has already expanded and accelerated our commercialization plans. RenFuel optimizing for increased Sustainable Aviation Fuel yields is a very timely and relevant consideration in many of our ongoing commercialization objectives, especially as we prioritize opportunities for the construction of our first commercial scale biorefinery. We look forward to their progress with this grant.”
About RenFuel K2B AB
RenFuel innovates technologies that contribute to decarbonization and circularity by effectively turning under-utilized biomass waste and residues into renewable fuels and materials. To learn more, please visit www.renfuel.se.
About Comstock Inc.
Comstock (NYSE: LODE) commercializes technologies that enable systemic decarbonization and accelerate the energy transition by efficiently converting under-utilized natural resources into renewable energy products, and by leveraging physics based artificial intelligence for more efficient and effective mineral and materials discovery. To learn more, please visit www.comstock.inc.
Comstock Fuels produces proprietary lignocellulosic feedstock made from cellulosic biomass as compliant, drop-in biointermediate blends to diversify fat-based feedstock portfolios for advanced biofuel refineries. To learn more, please visit www.comstockfuels.com. Comstock Fuels is a wholly owned subsidiary of Comstock Inc.
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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.
Contact Information:
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RB Milestone Group
Tel (203) 487-2759
ir@comstockinc.com
For media inquiries or questions, contact
Zach Spencer
Comstock Inc.
Tel (775) 847-7532
questions@comstockinc.com
Source: Comstock Inc.
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