Comstock Inc. announced that Bioleum Corporation acquired the patents and intellectual property assets of RenFuel K2B AB.
The purchase price includes $18.1 million in various forms, including stock, warrants, debt forgiveness, and cash.
Bioleum aims to convert biomass into a renewable alternative to petroleum with broad applications in liquid fuels and other supply chains.
Acquisition Details
Purchase price includes stock, warrants, debt forgiveness, cash, and a contingent earn-out payment.
Strategic Focus
Bioleum focuses on converting woody biomass into renewable alternatives for various applications.
Collaboration Benefits
Combining RenFuel's technologies with Bioleum's enhances commercialization and accelerates global impact.
- The acquisition enhances Bioleum's technology stack and accelerates the development of renewable fuels.
- RenFuel's intellectual properties, when combined with Bioleum's, have significant potential in biomaterials applications.
The acquisition of RenFuel's intellectual property enriches Bioleum's technology portfolio and strengthens its position in the renewable fuels market.