Comstock Inc. (LODE) announced on Tuesday that its subsidiary, Comstock Fuels Corporation—an innovator in advanced lignocellulosic technology—has formed a strategic partnership with Hexas Biomass Inc. This agreement grants Comstock Fuels exclusive rights to utilize Hexas' intellectual property specifically for applications related to liquid fuels.
As part of this strategic collaboration, Comstock Fuels will invest $500,000 in Hexas. Moreover, the two companies will work together on developing sites for planned Bioleum Refineries and will jointly explore further innovations to enhance Comstock Fuels' capabilities.
Currently, shares of LODE are trading at $0.33, reflecting a rise of 10.29%, or $0.030, on the New York Stock Exchange.
