Bioleum Corporation Acquires RenFuel’s Intellectual Property Portfolio
VIRGINIA CITY, Nev., Dec. 03, 2025 (GLOBE NEWSWIRE) -- Comstock Inc. (NYSE American: LODE, the “Company”) today announced that one of its strategic investees, Bioleum Corporation (“Bioleum”), acquired substantially all of the patents and other intellectual property assets of RenFuel K2B AB (“RenFuel”) through a wholly-owned subsidiary of Bioleum, including RenFuel’s patented catalytic esterification process to refine Bioleum’s proprietary biointermediates.
The purchase price includes an $18.1 million closing payment comprised of $12.5 million paid with 520,833 shares of Bioleum common stock, $2.5 million paid in the form of warrants to purchase an additional 104,167 shares of Bioleum common stock at an exercise price of $24 per share, $2.6 million in debt forgiveness, and cash of $500,000. The purchase price further includes a contingent earn-out payment equal to 3% of the aggregate revenues generated from sales of lignin ester produced using the technologies acquired from RenFuel up to a cap of $11.9 million.
“Bioleum has assembled a world class team with a singular focus of converting woody biomass into a renewable alternative to petroleum with universal application potential in existing liquid fuels and other supply chains,” said Kevin Kreisler, Bioleum’s chief executive officer. “RenFuel’s patented catalytic esterification process and related intellectual properties were developed over many years with a similar objective, with compelling synergies when combined with our intellectual properties. We are thankful for RenFuel’s ingenuity and years of hard work, and we are excited to bring our combined technologies to market.”
“RenFuel’s intellectual properties have more potential in Bioleum’s hands when combined with Bioleum’s technology stack,” stated Johan Löchen, RenFuel’s chief executive officer. “We believe that this transaction will maximize and accelerate the commercialization of our technologies globally and we are looking forward to Bioleum’s future success.”
Bioleum additionally granted RenFuel an exclusive license to use the acquired technologies in biomaterials applications, subject to a 3% royalty, and entered into a development services agreement with RenFuel for ongoing technology development work involving the RenFuel laboratory and pilot systems in Upsala, Sweden and key fuels-related technology employees. Bioleum retained the right, via a reciprocal non-exclusive license, to use the acquired technologies in biomaterials applications in North America, South America and Central America.
The transaction also terminates a pre-existing commitment by Bioleum to fund approximately $1 million per year to RenFuel, pursuant to the Securities Purchase Agreement and 7% Senior Secured Convertible Notes, dated April 19, 2024.
About RenFuel K2B AB
RenFuel innovates technologies that contribute to decarbonization and circularity by effectively turning under-utilized biomass waste and residues into renewable materials. To learn more, please visit www.renfuel.se.
About Bioleum Corporation
Bioleum Corporation develops and commercializes technologies that convert lignocellulosic biomass, such as purpose-grown crops and wood residues, into low-carbon fuels and refinery intermediates, including ethanol, SAF, renewable diesel, and gasoline. The company is advancing its first commercial facility in Oklahoma and operates pilot assets in Wisconsin, supported by partnerships spanning biomass supply, industrial integration, and research institutions. To learn more, please visit www.bioleum.com.
About Comstock Inc.
Comstock Inc. (NYSE: LODE) innovates and commercializes technologies, systems and supply chains that enable, support and sustain clean energy systems by efficiently, effectively, and expediently extracting and converting under-utilized natural resources into reusable metals, like silver, aluminum, gold, and other critical minerals, primarily from end-of-life photovoltaics. To learn more, please visit www.comstock.inc.
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For investor inquiries:
Judd B. Merrill, Chief Financial Officer
Tel (775) 413-6222
ir@comstockinc.com
For media inquiries:
Zach Spencer, Director of External Relations
Tel (775) 847-7573
media@comstockinc.com
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