Comstock Inc. (LODE) Tuesday, announced that its subsidiary, Comstock Fuels Corporation, a company in advanced lignocellulosic technologies, has entered into a strategic agreement with Hexas Biomass Inc.
Under the agreement, Comstock Fuels gains exclusive rights to Hexas' intellectual property for liquid fuels applications.
As part of the deal, Comstock Fuels will make a $500,000 strategic investment in Hexas. Additionally, the two companies will collaborate on site development activities for planned Bioleum Refineries and pursue further innovations to advance Comstock Fuels' capabilities.
LODE is currently trading at $0.33 up 10.29 percent or $0.030 on the New York Stock Exchange.
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