Comstock Inc. announced on February 13, 2025, the execution of a definitive master license agreement between its subsidiary, Comstock Fuels Corporation, and Gresham’s Eastern (Pvt) Ltd. This agreement grants Gresham’s a license to develop and manage facilities in Pakistan based on Comstock Fuels’ advanced lignocellulosic biomass refining processes. This marks Comstock Fuels’ fifth licensed refinery project under contract globally.
Gresham’s plans to initially develop a commercial demonstration facility in Lahore, Pakistan, capable of processing 75,000 metric tons of biomass annually. This facility is designed to generate the necessary operational and economic data for scaling up to a 1,000,000 metric tons per year commercial facility. Pakistan's abundant agricultural residue biomass, estimated at 100 million metric tons annually, offers the potential to produce approximately 14 billion gallons of renewable fuels per year using Comstock Fuels’ technology.
Under the terms of the agreement, Comstock Fuels will contribute site-specific technology rights in exchange for a 20% equity stake in each Bioleum Refinery, a 6% royalty fee on product revenues, and a 6% engineering fee equal to total capital and construction costs. Gresham’s also secured exclusive marketing rights for Comstock Fuels’ technologies in Pakistan, contingent on achieving a series of commercialization milestones, including the financing, construction, and commissioning of the Lahore facility and subsequent commercial sites.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.