Comstock Mining is an emerging leader in the sustainable extraction, valorization, and production of innovation-based, clean, renewable natural resources. They have invested $15 million in cash and stock in a newly formed quantum company called Quantum Generative Materials LLC (“GenMat”) with an additional $35 million upon GenMat’s realization of key development milestones. Upon completion of the additional funding, Comstock will own about half of Genmat. Not much is known about Genmat except that they were incorporated in May 2021 in Cheyenne, Wyoming and they are working to commercialize new quantum computing technologies to accelerate material science discovery and development. They are developing a proprietary quantum operating system to develop breakthrough new materials for use in high-impact applications, including batteries, mining and carbon capture and utilization. Comstock has believes that use of the Genmat technology will enhance their lithium-ion battery operations by helping them enhance their lithium extraction and refining operations as well as helping to design better battery components. For additional information, you can view a news release located on the Comstock website here.
June 25, 2021