Comstock (NYSE:LODE) Signs Agreement with Hexas Biomass Inc. for Feedstock Supply and Development Services

On January 14, 2025, Comstock Inc. (NYSE:LODE) made a significant move by securing a pivotal agreement with Hexas Biomass Inc. The deal, executed by Comstock Fuels Corporation, a subsidiary of Comstock Inc., entails an exclusive worldwide license to Hexas’ intellectual properties focusing on liquid fuels applications.

As outlined within the agreement, Hexas has committed to offering Comstock Fuels access to their innovative intellectual properties related to the cultivation, harvesting, and processing of energy crops. These crops are designed to deliver high yields, averaging between 25 to 30 dry metric tons per acre annually, significantly surpassing the traditional forestry species’ yields by a factor of 4 to 7.

Hexas’ crops flourish in various environmental conditions, including underutilized or marginal lands, harmonizing with existing agricultural practices without impeding food production. These high-yield energy crops enable the production of up to 100 barrels of fuel per acre yearly when combined with Comstock Fuels’ advanced biomass refining solutions. This collaboration effectively equips Comstock Fuels with a sustainable and dedicated source of feedstock, crucial for financing and operating its planned biorefineries.

The agreement between Comstock Fuels and Hexas Biomass Inc. sets a deadline for the execution and exchange of definitive documents by February 15, 2025, unless mutually extended by the involved parties.

In compliance with the disclosure requirements following this development, Comstock Inc. filed a Form 8-K with the U.S. Securities and Exchange Commission, underscoring the strategic importance of this collaboration for the company’s future operations and growth initiatives.

Investors and stakeholders are keenly advised to follow future updates concerning this partnership, potentially setting the stage for innovative advancements and sustainable practices within the energy production sector.

For further details and formal documentation regarding this development, interested parties can refer to the official filing on the Securities and Exchange Commission’s website or through Comstock Inc.’s investor relations portal.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Comstock’s 8K filing here.

Comstock Company Profile

Comstock Inc engages in the systemic decarbonization business in Nevada and internationally. It operates through Renewable Energy, Mining, and Strategic and Other Investments segments. It will develop technology for the deploying of extraction and refining facilities that convert wasted and unused biomass and other natural resources; and a demonstration system to extract black mass containing lithium, graphite, nickel, cobalt, manganese, copper, aluminum, and other metals from up to lithium-ion batteries.