Comstock Inc. announced on February 4, 2025, that its subsidiary, Comstock Fuels Corporation, received approval from the Oklahoma State Treasurer’s Office to issue up to $152 million in qualified private activity bonds. This allocation represents a major achievement in Comstock Fuels’ plans to finance and construct its first 400,000 barrel per year commercial demonstration facility in Oklahoma. The approval falls under the Oklahoma Private Activity Bond Allocation Act, drawing from various state pools.
The Oklahoma Development Finance Authority (ODFA) sponsored this bond allocation, underscoring the state's support for essential infrastructure projects and advanced domestic energy solutions. This funding is a foundational component of Comstock Fuels' overall capital and financing strategy, which aims to fund each of its planned Bioleum Refineries in the U.S. with dedicated project financing.
Comstock Fuels is actively working to select an investment banking partner to facilitate the bond placement and underwriting. This significant financial backing, combined with a $3 million direct Oklahoma-based grant, accelerates the integration of feedstock, site infrastructure, and offtake agreements, setting a new standard for domestic energy production.
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