Marathon Petroleum Fuels Refining Solutions With Comstock Partnership

Marathon Petroleum Corporation MPC recently collaborated with Comstock Fuels Corporation, a subsidiary of Comstock Inc. LODE, to take forward Comstock’s lignocellulosic biomass refining solutions to commercial maturity.Comstock, with this strategic collaboration, aims to align with oil producers by converting the massive supplies of biomass feedstock into hydrocarbon fuels that can be used in existing petroleum-based infrastructure.Investment Made by MPCMarathon Petroleum, currently carrying a Zacks Rank #3 (Hold), and Comstock have entered into a series of definitive agreements that involve a total investment of $14 million. This agreement is based on a mix of cash and in-kind contributions, where Marathon's investment consists of $1 million in cash and $13 million in valuable assets, including equipment and intellectual property located at its renewable fuel demonstration facility in Madison, WI. Comstock will use Marathon’s Madison-based facility to increase pilot production capabilities in Wausau, WI.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The agreement also included Comstock’s board observation rights for Marathon, highlighting both companies’ commitment to finalize the joint development agreement on or before May 31, 2025. Unlocking the Potential of Biomass FeedstocksMost renewable fuels today rely on a limited range of traditional feedstocks such as corn, soy and vegetable oils, accounting for only a tiny proportion of total fuel demand. On the contrary, the U.S. Department of Energy estimates that the nation has the potential to produce over one billion tons of biomass annually that can generate more than 3 billion barrels of fuel per year using Comstock Fuels’ cutting-edge refining technology. This investment underscores Marathon Petroleum’s commitment to exploring new frontiers in renewable energy.Key PicksInvestors interested in the energy sector might look at some top-ranked stocks like Repsol, S.A. REPYY and Prairie Operating Co. PROP.Repsol explores, develops and produces crude oil products and natural gas, and transports petroleum products, liquefied petroleum gas and refined petroleum. REPYY’s expected EPS (earnings per share) growth rate for the next year is 17%, which aligns favorably with the industry growth rate of 13.10%.Houston-based Prairie Operating is an independent energy company engaged in the development and acquisition of proven, producing oil and natural gas resources principally in the United States. The Zacks Consensus Estimate for PROP’s 2024 earnings indicates 81.19% year-over-year growth.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Marathon Petroleum Corporation (MPC): Free Stock Analysis Report Repsol SA (REPYY): Free Stock Analysis Report Comstock Inc. (LODE): Free Stock Analysis Report Prairie Operating Co. (PROP): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks