Comstock (LODE) shares were up over 2% in recent Tuesday trading after the company said its Comstock Fuels unit acquired exclusive intellectual property rights over Hexas Biomass' liquid fuels applications.
Integrating Hexas' energy crops into Comstock Fuels' Bioleum refining platform can achieve feedstock output sufficient to produce more than 100 barrels of fuel per acre per year, the company said.
The company also said the agreement includes a $500,000 investment by Comstock Fuels into Hexas and their collaboration on site development activities for planned Bioleum refineries.
Other terms of the deal weren't disclosed.
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