Comstock Inc. announced on December 17, 2024, that its subsidiary, Comstock Fuels Corporation, has been approved for a $3,000,000 incentive award from the Oklahoma Department of Commerce’s Quick Action Closing Fund. This award supports Comstock Fuels' plan to establish its headquarters and an initial site for the construction and operation of a next-generation renewable fuel refinery in Oklahoma. The incentive highlights Oklahoma's commitment to advanced domestic energy solutions.
Comstock Fuels is currently evaluating multiple locations across Oklahoma for an initial Demonstration Scale Facility, designed to process 75,000 metric tons of biomass per year for renewable fuel production. Following successful operation, the company plans to expand this capacity to 1,000,000 metric tons per year for sustainable aviation fuel and other renewable fuels. This expansion leverages Oklahoma's vast, previously untapped feedstock sources.
The incentive is a foundational component of Comstock Fuels' overall capital and financing plans, which include funding its planned Bioleum Refineries in the U.S. with dedicated project financing. This state support, combined with other strategic investments, accelerates the development and deployment of essential energy infrastructure, positioning Oklahoma as a leader in sustainable oil production from woody biomass.
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