Comstock Inc. announced on November 13, 2024, the completion of its acquisition of 100% of the equity of GenMat Licensing LLC (AICo). This transaction involved Comstock transferring 100% of its equity in Quantum Generative Materials LLC (GenMat) in exchange for AICo. AICo now holds a non-exclusive end user right and license (EULA) to use GenMat’s artificial intelligence (AI) for materials science technologies, services, and products.
The acquired assets also include all current satellite imaging and other data, analytics, and AI models related to Comstock’s mining properties in Nevada. AICo holds a credit against the EULA amounts, equivalent to 100% of Comstock’s cumulative historical investments in GenMat. This strategic move is expected to enhance Comstock’s capacity to rapidly develop and scale solutions for energy production and efficiency.
Comstock plans to further develop and integrate these physics-based AI solutions into its existing businesses, aiming to accelerate innovation and commercialization. The company emphasizes the critical application of AI for materials and mineral discovery, particularly for breakthrough energy applications, positioning itself to generate shareholder value by enabling systemic decarbonization.
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