Comstock (LODE) said Monday its Comstock IP Holdings unit has executed a technology cooperation agreement with Emerging Fuels Technology of Oklahoma.

The deal will lead to a master license agreement, where Comstock and Emerging Fuels Technology will integrate the latter's gas-to-liquids process into Comstock's renewable fuel solutions, the company said.

The system will capture and convert carbon emissions into "emissions derived renewable fuels", enhancing Comstock's renewable fuel production, including sustainable aviation fuel., the company said.

Comstock Fuels Corporation will manage all commercialization of these renewable fuel technologies, the company added.

Shares of Comstock rose past 12% in recent trading activity.

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