Comstock Inc. announced on December 30, 2024, the execution of a binding agreement between its subsidiary, Comstock Fuels Corporation, and Gresham’s Eastern (Pvt) Ltd, a sustainable energy engineering and construction company based in Pakistan. This agreement grants Gresham’s exclusive project and site development rights in Pakistan to deploy Comstock Fuels’ proprietary lignocellulosic biomass refining technologies for producing sustainable aviation fuel (SAF) and other renewable fuels.
Gresham’s plans to develop an initial demonstration facility in Lahore, Pakistan, capable of processing 75,000 metric tons of biomass annually. This facility is designed to generate operational and economic data necessary for scaling up to a 1,000,000 metric tons per year commercial facility. Pakistan possesses over 100 million metric tons of agricultural residue biomass annually, which could yield upwards of 14 billion gallons of renewable fuels per year using Comstock Fuels’ proven yields of up to 140 gallons per dry metric ton.
Under 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 on total capital and construction costs. This partnership positions Pakistan as an emerging leader in the renewable fuels sector, leveraging local resources to unlock billions of dollars in export potential and contribute to the nation’s goal of 60% renewable energy by 2030.
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