Comstock acquires GenMat, gaining AI materials discovery platform for energy applications

Comstock Inc.

Comstock enters binding agreement to acquire 100% of GenMat equity, including its AI platform, synthesis assets, and technical team.
GenMat's space business and related assets transferred to Deep Prasad's holding company as part of the deal.
Comstock to pay $1M to GenMat's founder for IP assignment plus contingent earn-out of 3% on future consideration exceeding $100M.
Prior $50M investment agreement terminated; Comstock had previously paid ~$15M under that agreement.
GenMat's materials discovery AI is at TRL 3 in some applications; target is TRL 6 for commercialization.

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