Comstock Fuels Targets More Sustainable Aviation Fuel

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$480,000) to demonstrate an enhancement of RenFuel’s patented catalytic esterification processes to refine lignin co-products from paper production into Sustainable Aviation Fuel (“SAF”) at increased yields compared to conventional methods.

>> In Other News: Comstock Fuels Confirms Biofuel Yields in Excess of 100 Gallons Per Tonne and Carbon Intensity Scores Below 20

“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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