Comstock Inc. (NYSE: LODE) announced today that its subsidiary, Comstock Fuels Corporation, has been approved for a $3 million incentive award from the Oklahoma Department of Commerce’s Quick Action Closing Fund. Comstock Fuels, known for its advanced lignocellulosic biomass refining solutions, will establish its headquarters and build a next-generation renewable fuel refinery in Oklahoma. The move positions the company to produce sustainable aviation fuel (SAF), renewable diesel, and other biofuels, further aligning with Oklahoma’s energy-driven economy.
David Winsness, President of Comstock Fuels, emphasized Oklahoma’s leadership in the oil and gas sector and its role in fostering innovation. Winsness stated that Comstock’s development team thoroughly evaluated feedstocks, sites, and incentives nationwide before selecting Oklahoma. He praised the state’s economic development teams for their support and efficiency throughout the process.
Comstock Fuels is actively evaluating multiple potential locations within Oklahoma for its first Demonstration Scale Facility, designed to process 75,000 metric tons of biomass annually. The facility will mark the company’s initial step toward large-scale production of renewable fuels. After the demonstration phase, Comstock plans to significantly expand its processing capacity to 1 million metric tons per year, enabling the large-scale production of sustainable aviation fuel and other renewable energy solutions.
Chad Michael Black, Director of Business Development for Comstock Fuels, highlighted Oklahoma’s untapped resources, particularly its abundant woody biomass feedstocks, which position the state as a key player in the renewable fuels market. Black expressed gratitude to Governor Kevin Stitt and the Oklahoma Department of Commerce, crediting the cash incentive as a major enabler of their plans.
Evan Brown, Executive Director of EDGE, a division of the Oklahoma Department of Commerce, welcomed Comstock’s decision to establish its headquarters in the state. Brown underscored Oklahoma’s energy legacy, noting the compatibility between Comstock’s sustainable fuel technology and the state’s commitment to energy innovation. He reaffirmed the state’s mission to foster a business-friendly environment and expressed confidence that Comstock’s arrival will bring high-paying jobs and economic growth to Oklahoma.
Comstock Fuels’ next-generation technology integrates renewable fuels with traditional petroleum products, aligning with Oklahoma’s approach to energy diversification. The company’s investment promises to support the state’s economy while advancing solutions for sustainable energy production.
