Comstock Executes Exclusive License and Cooperative Research and Development Agreement with Department of Energy’s National Renewable Energy Laboratory

World Class Innovation Team Set Sights on 100% Renewable Sustainable Aviation Fuel and Fossil Parity

VIRGINIA CITY, Nev., Oct. 02, 2024 (GLOBE NEWSWIRE) -- Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”) today announced the execution by Comstock’s wholly-owned subsidiary, Comstock IP Holdings LLC, of an Exclusive License Agreement (“ELA”) and Cooperative Research and Development Agreement (“CRADA”) with Alliance for Sustainable Energy LLC (“Alliance”), the managing and operating contractor of the U.S. Department of Energy’s (“DOE”) National Renewable Energy Laboratory (“NREL”), involving technologies developed by NREL and the Massachusetts Institute of Technology (“MIT”) for the conversion of lignocellulosic biomass into aromatic sustainable aviation fuel (“SAF”).

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NREL and MIT are separately party to an Inter-Institutional Agreement that appointed NREL the exclusive right to license their joint intellectual properties. Comstock IP Holdings has previously granted Comstock Fuels Corporation the master exclusive rights for commercialization of its renewable fuels technologies.

Comstock’s Existing Process

Comstock Fuels offers advanced lignocellulosic biomass refining solutions that produce market-leading yields of cellulosic ethanol, gasoline, renewable diesel, SAF, and other renewable fuels at extremely low carbon intensities. The Comstock Fuels process generally involves several stages, including solvolytic digestion, bioconversion, esterification, hydrodeoxygenation, and refining into ASTM-compliant renewable fuels. This process is capable of producing up to 125 gallons of renewable fuel per dry metric ton of feedstock, with extremely low carbon intensity scores of 15. The gas-to-liquids emissions capture process could increase conversion yields further, up to 140 GGE.

Integrated Process

Comstock IP Holdings is focused on continuously improving the proven performance of Comstock Fuel’s commercial refining solutions, particularly in the production of SAF. The integration of NREL’s technologies into Comstock’s process could enhance feedstock diversity and improve the quality of renewable fuels, specifically high-value aromatic hydrocarbons for use in SAF.

"Our existing commercial process unlocks and converts wasted woody biomass into renewable fuels at extraordinary yields and low carbon intensities," said David Winsness, President of Comstock Fuels. "Further integrating NREL's technologies will maximize aromatic content and quality for SAF, addressing global demand."

World Class Team

The CRADA involves a three-year scope of work to develop an integrated process combining Comstock’s and NREL’s technologies. Comstock will fund the research and contribute staff, equipment, and pilot facilities in Wisconsin. The research will be led by a world-class team including Gregg Beckham from NREL, Yuriy Román-Leshkov from MIT, and Joshua Heyne from Washington State University.

"An integrated process using Comstock’s and NREL’s technologies has remarkable potential in decarbonizing liquid fuels," said Gregg Beckham, Senior Research Fellow for NREL. "We’re excited to work with Comstock to scale up this technology for low-carbon fuels."

"Comstock’s mission is to enable systemic decarbonization, starting with transportation," said Kevin Kreisler, Chief Technology Officer of Comstock. "Our goal is to produce the world’s first 100% renewable SAF at costs approaching fossil fuel parity."

About Comstock Inc.

Comstock Inc. (NYSE: LODE) commercializes innovative technologies that contribute to global decarbonization and the clean energy transition by efficiently converting under-utilized natural resources, primarily woody biomass, into low-carbon renewable fuels. To learn more, please visit www.comstock.inc.