Comstock Inc. announced on October 7, 2024, the execution of an agreement to acquire substantially all of the equity in Quantum Generative Materials LLC (GenMat). This acquisition includes GenMat’s artificial intelligence (AI) materials discovery platform, materials synthesis capabilities, related assets, business, and most of its technical team. The transaction is expected to significantly enhance Comstock’s innovation capacity and competitive advantages across its metals, mining, and fuels businesses.
GenMat’s AI operates by generating new atoms, molecules, and physical systems for various materials applications, leveraging collective knowledge of physics and chemistry combined with proprietary synthetic datasets. This technology is designed to discover new materials exponentially faster than traditional methods, primarily for decarbonizing energy applications. Comstock’s Chief Technology Officer, Kevin Kreisler, will lead the ongoing technology development and commercialization efforts for GenMat.
As part of the acquisition, Deep Prasad’s holding company will receive GenMat’s consolidated satellite, mission control software, other low earth orbit assets, and the space team. This allows Comstock to fully own and dedicate to GenMat’s materials science AI, while Deep Prasad focuses on the new space-based enterprise. GenMat’s materials discovery AI is currently at Technology Readiness Level (TRL) 3 in some applications, with a focus on reaching TRL 6 for energy applications.
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