The Application and LiNiCo's final engineering plans are based on the first phase of LiNiCo's proprietary LIB recycling technologies, which have been designed for extraordinary capacity and yield at a fraction of the capital and operating costs of all known methods. Those technologies are the direct result of Comstock's recently announced and planned additional technology development, engineering, and materials science acquisitions and other transactions, including Renewable Process Solution ('RPS') and its CEO and Comstock's new Chief Process Engineer,
Construction of the first phase of LiNiCo's new processes will commence at the TRI Facility upon approval of the Application, with an anticipated completion and start-up during the first half of 2022. Once complete, the TRI Facility is conservatively expected to scale up to its initial nameplate capacity exceeding 100,000 tons per year of LIBs over a period of three years, with annualized revenues exceeding
Extraordinary Growth
Spent LIBs are widely expected to contain more than
Meeting the increased demand will require about 1.8 million tons per year of lithium carbonate equivalent ('LCE'), or about five times more than the entire lithium mining industry produces today, and more than fifteen times the total LCE used in producing new EVs in 2020. The mining and battery manufacturing industries can scale up to meet that demand, but there are only about 80 million tons of identified lithium resources worldwide, and EV batteries are typically landfilled after eight to ten years of use.
Selective Separation Technologies
'The first phase of our technologies was all about establishing and maximizing market leading throughput in a safe, compliant, and cost-effective manner, with room for modular capacity expansions as global electrification efforts accelerate and the LIB recycling industry inevitably grows,' said LiNiCo's Chief Executive Officer and Founder,
Comstock's Executive Chairman and Chief Executive Officer,
Addressing Scarcity with Innovation
Comstock believes that the global clean energy transition, escalating population growth, and accelerating natural resource scarcity are converging into a 'perfect storm' of global demand in a broad array of strategic materials, including anything involving carbon, metals, energy, and water - without the corresponding global capacity to sustainably meet even a fraction of the demand. Comstock's strategic focus has consequently shifted to include the development of companies and technologies that facilitate the more efficient use of natural resources by extracting and valorizing critical and inevitably scarce feedstocks.
De Gasperis concluded, 'The consumption of any product is powered by feedstock, and as vast as some feedstock supplies may seem, they are all finite. The world is watching that story unfold in electrification products, with a current focus on the scarcity of lithium and other cathode constituents, and a shared goal of reducing global carbon emissions. However, every cathode in every LIB needs an anode, and the vast majority of anodes are comprised of synthetic graphite, the global supplies of which are nearly all met with carbon intensive fossil fuel derivatives. We see that to be counterproductive, and its exactly the sort of inevitable need that we intend to address with innovation. We believe that we're well positioned ahead of that curve with LiNiCo's TRI Facility and our technology development efforts.'
About
Comstock was selected to join the Russell Microcap Index at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the US market opened on
Forward-Looking Statements
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