LODE - Comstock Amends Its Partnership Deal With RenFuel | Benzinga
Comstock Inc. (AMEX:LODE) announced revisions to its agreements with RenFuel K2B AB regarding the development of RenFuel's previously planned biorefinery project at a pulp and paper mill in Sweden. The changes also aim to broaden the scope of Comstock's partnership with RenFuel in the European markets. This move will significantly expand the markets of their joint technologies.
The amendments enable the liquidation of RenFuel's majority-owned subsidiary, RenFuel K2B Lignolproduktion AB. RenFuel formed the subsidiary to run its previously planned Swedish biorefinery as part of a joint venture with Preem. Comstock declined its option to step into the JV.
The expanded partnership better positions both parties for the building and management of a larger-scale commercial facility based on the joint Comstock-RenFuel technologies in Europe, following the completion of Comstock's first planned facilities in the Americas.
Comstock has already used RenFuel's patented catalytic esterification technology to refine its proprietary Bioleum derivatives into Hydrodeoxygenated Bioleum Oil capable of producing both SAF and ...