Strategic Investment in Artificial Intelligence for Materials Discovery in Energy Applications
Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”) today announced the acquisition of 100% of the equity of GenMat Licensing LLC (“AICo”) in exchange for 100% of the Company’s equity in Quantum Generative Materials LLC (“GenMat”). AICo holds a non-exclusive end user right and license (“EULA”) to use GenMat’s now and hereafter existing artificial intelligence (“AI”) for materials science technologies, services and products, as well as all current satellite imaging and other data, analytics, and artificial intelligence and other models relating to Comstock’s mining properties in Nevada. AICo also holds a credit against the amounts payable under the EULA equal to 100% of the Company’s cumulative historical investments in GenMat.
“Our interest in artificial intelligence reflects the critical need to develop and use artificial intelligence for materials science and mineral discovery, especially for breakthrough energy applications in our current and future addressable markets,” said Corrado De Gasperis, Comstock’s executive chairman and chief executive officer. “Artificial intelligence is even more critical today, as rapidly evolving AI platforms have begun to accelerate the pace of global innovation and redefine industries and competitive requirements. We look forward to further developing and integrating these solutions into our businesses.”
GenMat is expected to continue developing its commercial materials science discovery platform (“ZENOMDP”) and its proprietary artificial general physics intelligence technologies (“AGPI”). In the meantime, the capabilities of commercially available AI technologies are accelerating at increasing rates, including the creation of generative, physics-based AI technologies such as GenMat’s ZenoMDP, that are new and demonstrate high potential for harnessing known science and enhancing the innovation, commercialization, and scaling of new technologies in exponentially shorter cycle times.
Important and promising use cases for developing, commercially available physics-based AI technologies include materials science applications with new arrangements of atoms, molecules, and physical systems, as well as enhancing industrial chemical processes. Each application offers tremendous potential for Comstock’s existing lines of business, such as by accelerating new catalysts, decreasing carbon intensities, decreasing development costs, decreasing capital costs and increasing throughput and profitability.
Kevin Kreisler, Comstock’s chief technology officer, added, “Incorporating the bleeding edge of emerging physics-based AI technologies into our focused and purposeful innovation efforts will dramatically enhance our capacity to rapidly develop and scale solutions for producing, distributing, storing, and using energy more effectively, expediently and efficiently, thereby accelerating the rate that we commercialize our solutions, enabling systemic decarbonization and generate exceptional shareholder value.”
Mr. Kreisler leads Comstock’s ongoing technology development and commercialization efforts, including as part of Comstock’s growing innovation capabilities, projects, and partner networks.
About Comstock Inc.
Comstock Inc. (NYSE: LODE) commercializes innovative technologies that contribute to global decarbonization and the clean energy transition by efficiently converting under-utilized natural resources, primarily, woody biomass into low-carbon renewable fuels, end-of-life metal extraction and renewal, and generative AI-enabled advanced materials synthesis and mineral discovery for sustainable mining.
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