Comstock Mining acquires Renewable Process Solutions
Virginia City, Nevada-based Comstock Mining Inc. has acquired 100 percent of the equity of biodiesel process technology firm Renewable Process Solutions Inc. in a transaction valued at approximately $3.5 million. Comstock Mining’s acquisition of RPS is in exchange for 1 million restricted shares in the company’s common stock.
Rahul Bobbili, president and chief technology officer of RPS and former executive with Jatrodiesel, was instrumental in the development of nearly two dozen biodiesel plants since 2006, including supercritical facilities in Illinois and California. He also developed the Hybrid.T approach combining supercritical and traditional processing. According to Comstock Mining, RPS also provides EPC services for renewable metals, mining and petrochemical industries. In addition, it provides advanced equipment manufacturing services through its affiliated facilities in the United States and India.
LiNiCo Corp., Comstock’s investment in lithium-ion battery recycling, has engaged RPS for the design and construction of critical renewable processes, including crushing, separating and lithium extraction technologies for LiNiCo’s new lithium-ion battery recycling manufacturing facility in Storey County, Nevada.
“Almost instantaneously, … Rahul and his network of engineering and advanced manufacturing experts integrated themselves into the LiNiCo team, enhancing designs, ensuring quality, reducing capital requirements and shortening lead times,” said Corrado De Gasperis, Comstock’s executive chairman and CEO. “Rahul’s capacity for designing, procuring and commissioning innovative, environmentally and economically focused engineering solutions, with exceptional environmental, health and safety track records, places him and his teams at the forefront of our senior ESG leadership team.”
Bobbili will oversee and direct all EPC processes for LiNiCo as chief process engineer.