Comstock, SACL to develop three SAF projects in Australia
Comstock announced today that its subsidiary, Comstock Fuels Corporation, has entered into a strategic partnership with Singapore-based renewable fuel project developer SACL to invest in development three biofuel refineries in Australia.
The refineries, which will have a combined annual capacity of 1.5m metric tons, will produce a variety of renewable fuels in Australia, including sustainable aviation fuel (SAF), gasoline, and diesel using Comstock Fuels’ lignocellulosic biomass refining technology.
Under the terms of the agreement, Comstock Fuels will provide SACL with technology rights and take a 20% equity stake in each refinery. In exchange, Comstock Fuels will receive royalty fees and engineering fees. The estimated total construction cost for the three refineries is approximately $2.4bn.
“We look forward to accelerating their objectives as we position our technologies as the leading global solution for sustainable, extremely low carbon renewable fuels,” said David Winsness, president of Comstock Fuels.
“We are concurrently executing on our own plan to build, own, and operate our first four facilities in the US, including an initial 50,000 MTPY commercial demonstration scale facility followed rapidly by three 1,000,000 MTPY commercial scale facilities.”
He said that collectively, the Comstock Fuels planned U.S. facilities will produce upwards of 700m GGE per year of renewable fuels, including approximately 400m GGE from woody biomass and another approximately 300m GGE from vegetable oils.
“The Comstock Fuels process uses proven, off-the-shelf equipment and standard refining processes to convert woody biomass, such as plantation grown eucalyptus in our case, into renewable intermediates and fuels that leverage existing supply chains. We are excited by this collaboration, and we are looking forward to working with the Comstock Fuels’ team and our local stakeholders to develop each of our projects and more,” said Garry Millar, founder and director, SACL.