Comstock Inc. (Comstock) enables systemic decarbonization by innovating and commercializing technologies and materials that integrate into existing global supply chains to extract and convert under-utilized natural resources into renewable energy products that reduce reliance on fossil fuels and contribute to net zero mobility.
The company's operations primarily involve the innovation, development, commercialization, and monetization of its intellectual properties and related assets, with teams...
Comstock Inc. (Comstock) enables systemic decarbonization by innovating and commercializing technologies and materials that integrate into existing global supply chains to extract and convert under-utilized natural resources into renewable energy products that reduce reliance on fossil fuels and contribute to net zero mobility.
The company's operations primarily involve the innovation, development, commercialization, and monetization of its intellectual properties and related assets, with teams focused on each core function in dedicated lines of business organized to address high impact decarbonization targets. The company innovates and develops technologies to achieve exponential growth on industry-wide scales by creating financial and other incentives for rapid integration into and across entire supply chains. The company's commercialization and monetization plans for each technology are designed to facilitate that result, such as by selling technology licenses and related engineering services that enable clients to use their capital, infrastructure, and other resources to maximize the rate and scale of adoption, thereby simultaneously maximizing the rate at which it builds shareholder wealth.
The company is commercializing pioneering intellectual properties for refining lignocellulosic (woody) biomass into renewable replacements for fossil crude at remarkably high yields, recycling increasingly scarce electrification metals from end-of-life photovoltaics and other electronic devices, and advanced physics based artificial intelligence for precision mining and materials discovery. The company makes, owns and manages investments in related assets to support its businesses, including existing minority equity positions in strategic technology developers, a renewable fuels demonstration facility in Wisconsin, a metals recycling demonstration facility in Nevada, and direct investments in northern Nevada real estate including strategic water rights and about twelve square miles of mining claims and surface parcels with measured and indicated mineral resources containing 605,000 ounces of gold and 5,880,000 ounces of silver, and inferred mineral resources containing an additional 297,000 ounces of gold and 2,572,000 ounces of silver.
The company also recently announced the execution of agreements with RenFuel K2B AB (RenFuel) to acquire a development stage biorefinery project to refine byproducts of paper production into biointermediates for refining into renewable fuels, and to make a strategic investment in RenFuel of the company.
Segments
The company operates through Fuels, Metals, Mining, and Strategic Investments segments.
Fuels segment
This segment develops and commercializes technologies that extract and convert wasted and unused lignocellulosic biomass into intermediates for refining into advanced renewable fuels. Most renewable fuels draw from the same pool of conventional fat, oil, and grease (FOG) feedstocks, but the total existing FOG supply can only meet a small fraction of the global mobility demand. The company's technologies unblock that constraint by converting abundant, lignocellulosic biomass into biointermediates for refining into renewable fuels. The company will use its technologies to connect upstream feedstock producers in the pulp, paper, forestry, and sawmill industries with downstream refineries in the petroleum and renewable fuel industries, thereby enabling production of vast quantities of one of the world's highest yielding, most profitable, and least carbon intensive renewable fuels, including renewable diesel, sustainable aviation fuel, cellulosic ethanol, gasoline and other co-products. The company expects additional advancements, its existing commercially available technologies have proven the potential to produce more than 100 gallons per dry tonne of woody biomass as measured on a gasoline gallon equivalent (GGE) basis, and CI scores of 15 or less for Cellulosic Ethanol and the company's proprietary Hydrodeoxygenated Bioleum Oil (HBO). HBO is used directly by advanced biofuel refineries to blend with, diversify, and extend conventional hydroprocessed FOG feedstocks to enhance production of renewable diesel, sustainable aviation fuel, and other products.
The company is evaluating several joint development solutions and systems based on its technologies, as well as feedstock and offtake agreements, licenses, engineering services, and direct investments. This segment is administered by the company's wholly owned subsidiary, Comstock Fuels Corporation, which will define and design solutions and license selected technologies to strategic partners, including long-term feedstock and offtake clients.
Metals segment
This segment recently secured sufficient supplier commitments and all permits required to begin commissioning the company's first photovoltaic recycling facility, and is expected to receive revenue in the form of tipping fees and to a lesser extent recycled metal sales for the processing of end-of-life photovoltaic materials. This segment is also expected to recycle metals from other electronic devices, such as end-of-life batteries and fuel cells at later stages of development and production. This segment is administered by the company's wholly owned subsidiary, Comstock Metals Corporation, which has ordered and received all necessary components for its first commercial demonstration facility in Silver Springs, NV, and has applied for and received all required permits required for commissioning and production in early 2024.
Mining segment
This segment is administered by the company's wholly owned subsidiary, Comstock Mining LLC, and various other subsidiaries that collectively own or control twelve square miles of properties of patented mining claims, unpatented mining claims and surface parcels in northern Nevada, including six and a half miles of continuous mineralized strike length (the Comstock Mineral Estate). The company has two completed third-party S-K 1300 technical reports focused on just two relatively smaller subsets of its mineral estate, with measured and indicated mineral resources containing 605,000 ounces of gold and 5,880,000 ounces of silver, and inferred mineral resources containing an additional 297,000 ounces of gold and 2,572,000 ounces of silver. The company plans on further enhancing that data with hyperspectral orbital imaging and physics-based AI solutions to provide advanced prospecting analytics and more efficient, effective and expedient mineral discovery.
Strategic Investments segment
The company owns and manages several investments and projects that are strategic to its plans and ability to produce and maximize throughput in its Fuels, Metals and Mining Segments, that are held for the purpose of complimenting or enhancing its mission of enabling systemic decarbonization and creating value but that are not a component of such other segments or otherwise have distinct operating activities. This segment includes minority equity investments in Quantum Generative Materials LLC (physics-based artificial intelligence), Green Li-ion Pte Limited (lithium ion battery recycling and cathode production), Sierra Springs Opportunity Fund (strategic direct investment in northern Nevada real estate), and other equity or equity-linked investments.
Intellectual Property
Comstock IP Holdings LLC (Comstock IP Holdings) holds the company's portfolio of patented, patent-pending, and proprietary technologies. The earliest of the company's patents are scheduled to expire is in 2033, however, it has additional issued and pending patents that are expected to expire at later dates.
Properties
The company's land position consists of 9,472 acres (due to overlapping interests, the combined area is approximately 7,586 acres) located in Storey and Lyon Counties, Nevada (referred to collectively as the company's 'Mineral Estate'), including fee ownership of real properties and claims, five mineral leases, one LLC membership interest (providing exclusive rights to exploration, development, mining and production), and royalty interests. The Mineral Estate includes 130 patented lode mining claims totaling 1,376 acres with surface parcels increasing the total to 2,533 acres, 381 unpatented lode mining claims administered by the BLM, 38 unpatented placer claims, and one unpatented mill site claim, all totaling approximately 6,939 acres, and covering 6.5 miles of strike-length on the Comstock and Silver City lodes.
Dayton - Spring Valley
The Dayton Consolidated Project is an exploration stage project 100% owned or controlled by Comstock Exploration and Development LLC, a wholly owned subsidiary of Comstock.
The mineral property includes 68 unpatented lode claims, 38 unpatented placer claims (1,908 acres), 41 patented lode claims (612 acres), and 16 surface parcels (461 acres). The company fully owns these properties, except for the Haywood Quarry property, which the company has full access to and is controlled by a purchase agreement, with the final payment due in 2024, and pays annual claim fees to the BLM for each of the unpatented claims.
The Dayton deposit is located on the southern extension of the Silver City fault and hosted in Miocene age locally defined volcanic sub-sets of a bimodal volcanic dome event.
Lucerne
The Lucerne Project is an exploration stage project 100% owned or controlled by Comstock Mining LLC, a wholly owned subsidiary of Comstock. The property is located in Storey County, Nevada.
The mineral property includes 81 unpatented lode claims, 1 unpatented mill site claim (833 acres), 34 patented lode claims (271 acres), and 39 surface parcels (101 acres), all owned by Comstock, or controlled through Comstock's 50% membership interest in Northern Comstock LLC. The Lucerne deposit is located along the hanging wall of the Silver City fault.
Other Property
The company owns industrial and commercially zoned properties in Silver Springs, Nevada (the Silver Springs Properties).
Research and Development
For the year ended December 31, 2023, the company's research and development expenses were $6,117,305.
History
The company was incorporated in 2008. It was formerly known as Comstock Mining Inc. and changed its name to Comstock Inc. in May 2022.
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