Comstock Fuels gets $14M investment from Marathon Petroleum for biomass refining

Comstock Inc.

Marathon invests $14M in Comstock Fuels equity: $1M cash and $13M payment-in-kind assets (equipment, IP, materials from Madison, WI facility).
Comstock Fuels gains non-exclusive license to Virent IP for R&D; Marathon gets reciprocal license to improvements.
Marathon receives board observer rights; parties commit to offtake, joint development, and warrant agreements by May 31, 2025.
Cash portion contingent on Comstock Fuels closing at least $25M in Series A equity from third parties.

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