Comstock Mining Secures Majority Interest in Lithium-Ion Battery Recycling Company
VIRGINIA CITY, NV - Comstock Mining Inc. announced transactions securing the rights to a majority equity stake in LINICO Corporation (“LiNiCo”), a lithium-ion battery (“LIB”) recycling company who recently acquired a state-of-the-art battery metal recycling facility from Aqua Metals, Inc. located in the Tahoe Reno Industrial (“TRI”) Center in Storey County, Nevada.
LiNiCo will use the proceeds to increase its direct strategic investment in Green Li-ion Pte, Ltd. (“Green Li-ion”), purchase Green Li-ion’s patented process equipment, with exclusive rights for the U.S. market, enabling the production of 99.9% pure lithium-ion cathodes. LiNiCo’s Chief Executive Officer and Founder, Michael Vogel, said, “Our agreements accelerate the race towards reducing carbon emissions by valorizing critical metals and supporting the increasingly high demand for electric vehicles (“EVs”). Aligning ourselves with Comstock, Green Li-ion and Aqua Metals creates a unique ecosystem of complimentary companies.”
LiNiCo’s facility was designed for, and perfectly situated to, receive, crush, and separate battery materials into black mass. Green Li-ion’s technology has been proven to convert black mass into rejuvenated, high purity, battery grade metals and essentially pure cathodes for a fraction of the cost and time of conventional solutions.