Foley & Lardner LLP represented Comstock Inc. (NYSE: LODE), a leading innovator in renewable energy and resource recovery technologies, in the successful separation of its renewable fuels segment into a new independent entity, Bioleum Corporation, and its high-value capitalization, through the closing on the first $20 million in direct Series A equity investment.
Comstock develops and commercializes technologies that contribute to energy abundance by converting underutilized natural resources such as woody biomass into renewable fuels, and end-of-life electronics into recovered electrification metals. The transaction marks a significant milestone for Comstock, enabling the launch of Bioleum as a standalone company focused on advancing refining technologies that convert lignocellulosic biomass into low-carbon transportation fuels.
The funds will support Bioleum’s continued development as it completes engineering, financing, and construction of its first planned 400,000 barrel per year commercial demonstration facility in Oklahoma.
The Foley team was led by partners Clyde Tinnen and Stephen Good, and associates Donivine Stewart and Grecia Rivas.