COMSTOCK FUELS EXECUTES LICENSE AGREEMENT WITH GRESHAM’S EASTERN LTD – Bringing Renewable Gas Manufacturing to Pakistan with Sustainable Biomass Refining Options
Bringing Renewable Gas Manufacturing to Pakistan with Sustainable Biomass Refining Options
VIRGINIA CITY, NEVADA, December 30, 2024 – Comstock Inc. (NYSE: LODE) (“Comstock” and the “Firm”) in the present day introduced the execution of a binding settlement between Comstock Fuels Company (“Comstock Fuels”) and Gresham’s Japanese (Pvt) Ltd (“Gresham’s”), a number one sustainable vitality engineering, gear and development firm primarily based in Pakistan, below which Comstock Fuels agreed to grant Gresham’s unique challenge and web site improvement rights in Pakistan to allow Gresham’s to deploy Comstock Fuels’ proprietary and patented lignocellulosic biomass refining applied sciences to provide sustainable aviation gas (“SAF”) and different renewable fuels in Pakistan.
World Market Impression
Gresham’s will develop an preliminary demonstration facility in Lahore, Pakistan, able to processing 75,000 metric tons of biomass yearly. This facility is designed to generate the prerequisite operational and financial knowledge for scaling as much as a 1,000,000 metric tons per 12 months industrial facility, aligning with fast international market demand for elevated SAF manufacturing, thereby positioning Pakistan as an rising chief within the renewable fuels sector. Gresham’s plans on using plentiful, regionally accessible agricultural and forestry residuals, in addition to sustainably grown vitality crops, unlocking billions of {dollars} in export potential, changing into a number one contributor of Pakistan’s dedication to producing 60% renewable vitality by 2030.
Mian Suhall Husain, CEO of Gresham’s, commented,
This partnership exemplifies Gresham’s dedication to deploying each high quality programs and cutting-edge applied sciences for really sustainable vitality options in Pakistan.
“We’re on the doorstep of a globally important alternative the place our mixed competencies can create wealth for nations and communities alike.”
Below the settlement, Gresham’s will lead the event, financing, development, and administration of renewable gas manufacturing services primarily based on Comstock Fuels’ proprietary Bioleum refining applied sciences. Every Bioleum Refinery will function below a site-specific license settlement to make sure compliance with Comstock Fuels’ efficiency and high quality requirements. Comstock Fuels will contribute web site particular expertise rights in change for a 20% fairness stake in every Bioleum Refinery, plus a royalty price equal to six% of every refinery’s gross sales of licensed merchandise, and engineering charges equal to six% of whole capital and development prices.
The inclusion of cellulosic ethanol manufacturing utilizing Comstock Fuels’ superior lignocellulosic refining course of provides important worth to Pakistan’s present renewable vitality sector, the place many of the domestically produced ethanol is exported. This course of positions the partnership to capitalize on the nation’s broadly accessible agricultural residue biomass, presently representing over 100 million metric tons yearly, enabling a sustainable, societal and economically impactful use for these assets. That quantity of feedstock has the potential to yield upwards of 14 billion gallons of renewable fuels per 12 months at Comstock Fuels’ confirmed yields exceeding about 140 gallons per dry metric ton of biomass (on a gasoline gallon equal foundation, or “GGE”).
Extensive Open Market Hidden in Plain Sight
Pakistan’s abundance of renewable biomass assets offers a super basis for creating a strong renewable gas manufacturing ecosystem. The Gresham’s tasks will prioritize fulfilling regional demand whereas concentrating on export markets throughout the Center East and North Africa (MENA). The mixture of Gresham’s engineering, gear fabrication, development and in depth quality-systems working and provide chain community, positions for robust market management.
David Winsness, President of Comstock Fuels, acknowledged :
Mian’s extraordinary observe document and dedication to each high quality programs and societal affect align completely with Comstock’s mission and strategy,
“Gresham has positioned itself as a number one integrator in Pakistan’s financial improvement and sustainable vitality targets. We imagine this partnership will likely be transformative to Pakistan’s management in SAF and renewable gas manufacturing and showcases the standard and velocity of the worldwide adoption of our industry-leading resolution. We’re excited to get began in Lahore and nicely past.”
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COMSTOCK FUELS EXECUTES LICENSE AGREEMENT WITH GRESHAM’S EASTERN LTD – Bringing Renewable Gas Manufacturing to Pakistan with Sustainable Biomass Refining Options, supply
