Comstock Fuels awarded $3 million incentive from Oklahoma

Comstock Inc. announced Dec. 17 that Comstock Fuels Corp. has been approved for a $3 million incentive award from the Oklahoma Department of Commerce’s Quick Action Closing Fund.

Under the terms of the agreement, Comstock Fuels will establish its headquarters and an initial site for the construction and operation of a next-generation renewable fuel refinery in Oklahoma.

“Oklahoma is a long-established leader in the oil-and-gas sector, pioneering innovations and contributing significantly to the nation’s energy independence,” said David Winsness, the president of Comstock Fuels. “Our development team has been rigorously assessing feedstocks, sites, offtakes and incentives across the country and Oklahoma’s economic-development teams have been exceptional.”

Comstock Fuels is currently assessing multiple locations throughout Oklahoma for the construction of an initial demonstration-scale facility capable of processing 75,000 metric tons of biomass per year for renewable fuel production.

Following the successful launch and operation of that facility, Comstock Fuels plans to expand its processing capacity to 1 million tons per year for production of sustainable aviation fuel (SAF) and other renewable fuels.

“Oklahoma’s vast supplies of previously untapped feedstock sources have positioned the state to lead the country in new sources of sustainable oil production from woody biomass,” said Chad Michael Black, the director of business development for Comstock Fuels. “We’re proud to call Oklahoma home, excited for what this enables and very thankful to Gov. Stitt and the Oklahoma Department of Commerce for the cash incentive granted under this agreement.”

Evan Brown, the executive director of EDGE, a division of the Oklahoma Department of Commerce, added, “We are thrilled that Comstock Fuels has chosen Oklahoma to establish its headquarters. Oklahoma is a proud oil-and-gas state with a history of energy innovation, and Comstock’s sustainable aviation fuel technology, which blends with petroleum, fits perfectly with our approach to energy. Our goal is to be the most business-friendly state in the country, and I look forward to working with David, Chad and the entire Comstock team and supporting their efforts to relocate and bring high-paying jobs to Oklahoma.”