Comstock’s LiNiCo Receives Permit for Lithium-Ion Battery Storage
Comstock Inc. (NYSE: LODE) announced that the Lyon County Board of County Commissioners has granted unanimous approval for a Conditional Use Permit (CUP) for LINICO Corporation to establish a lithium-ion battery (LIB) pre-recycling storage facility in Mound House, Nevada. This facility aims to enhance regional recycling capabilities for LIBs, essential in supporting the growing demand for electric vehicles. LiNiCo's operations will complement its existing battery metal recycling facility in Storey County, which is crucial for recycling critical metals and addressing increasing lithium demand.
- Unanimous approval received from Lyon County for Conditional Use Permit for LIB storage facility.
- Facility located in a strategic industrial park with resources and access to transportation.
- LiNiCo's facility will enhance regional recycling and cater to the growing electric vehicle market.
- None.
VIRGINIA CITY, Nevada, Oct. 10, 2022 (GLOBE NEWSWIRE) -- Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”) today announced it had received unanimous approval by the Lyon County Board of County Commissioners (“BoCC”) for the Conditional Use Permit (“CUP”) requested by LINICO Corporation (“LiNiCo”) to operate a lithium-ion battery (“LIB”) pre-recycling storage facility at a nearly 200 acre industrial property in Mound House, Nevada.
LiNiCo’s LIB storage facility resides in one of the largest industrial parks in Lyon County, Nevada, with ample power, water and immediate highway access. The facility will receive, sort, and store waste LIBs, with capacity for expansion and possible crushing and separating operations, to supplement LiNiCo’s 137,000 square foot battery metal recycling facility located in the Tahoe Reno Industrial (“TRI”) Center in Storey County, Nevada (“TRI Facility”).
“The receipt and storage of these batteries represent an essential component of our regional supply chain for recycling these critical metals,” stated Mr. Corrado De Gasperis, LiNiCo’s executive chairman and chief executive officer. “We are thrilled with Lyon County’s support as we secure this fundamental piece of the eco-system necessary for receiving, storing and ultimately recycling waste LIBs.”
Electrification and continued advancements in energy storage are vitally necessary to reduce reliance on fossil fuels. According to International Energy Agency (“IEA”), there were more than 10 million electric vehicles (“EVs”) on the road in 2020, with new EV registrations increasing by
De Gasperis concluded, “LiNiCo’s technologies are designed to meet the realities of this existing and rapidly growing demand by enabling profitability at the earliest stages of production. We are very pleased to receive the second of three major permits and we look forward to receiving our air quality permit for the TRI Facility, the final major permit, so we can commence recycling during 2023.”
About LiNiCo Corporation
LiNiCo Corporation (“LiNiCo”) holds the rights to an intellectual property portfolio of innovative processes that efficiently crush, separate and condition LIB materials, while developing new technologies for extracting lithium and graphite, and the ultimate reuse of the recovered metals to produce
About Comstock Inc.
Comstock (NYSE: LODE) innovates technologies that contribute to global decarbonization and circularity by efficiently converting under-utilized natural resources into renewable fuels and electrification products that contribute to balancing global uses and emissions of carbon. The Company intends to achieve exponential growth and extraordinary financial, natural, and social gains by building, owning, and operating a fleet of advanced carbon neutral extraction and refining facilities, by selling an array of complementary process solutions and related services, and by licensing selected technologies to qualified strategic partners. To learn more, please visit www.comstock.inc.
Forward-Looking Statements
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| Contact information: | ||
| Comstock Inc. P.O. Box 1118 Virginia City, NV 89440 www.comstock.inc | Corrado De Gasperis Executive Chairman & CEO Tel (775) 847-4755 degasperis@comstockinc.com | Zach Spencer Director of External Relations Tel (775) 847-5272 Ext.151 questions@comstockinc.com |
FAQ
What recent approval did Comstock Inc. (LODE) receive?
What is the purpose of the LIB storage facility approved for Comstock?
How does the new LIB facility relate to electric vehicle demand?
When is Comstock planning to commence operations at the TRI Facility?
