Comstock Metals Records First Renewable Metal Shipments and Sales
Comstock Inc. (NYSE: LODE) and its subsidiary, Comstock Metals, have announced their first shipments and revenues from recycled solar panel materials. The company sold over 3,000 pounds of recycled aluminum, exceeding expectations with a price of more than fifty cents per pound. This milestone follows their first in-take revenue from processing end-of-life solar panels last quarter.
Comstock Metals operates a commercial demonstration facility in Silver Springs, NV, and is planning an industry-scale expansion. The company's process recovers about 10-15% of the solar panel input weight as aluminum. Their zero-landfill solution generates revenue from both receiving panels and selling recycled materials, creating a closed-loop system for solar panel recycling.
Comstock Inc. (NYSE: LODE) e la sua filiale, Comstock Metals, hanno annunciato le loro prime spedizioni e ricavi da materiali di pannelli solari riciclati. L'azienda ha venduto oltre 1.360 chilogrammi di alluminio riciclato, superando le aspettative con un prezzo superiore a cinquanta centesimi per chilogrammo. Questo traguardo segue il loro primo introito proveniente dalla lavorazione di pannelli solari a fine vita nello scorso trimestre.
Comstock Metals gestisce un impianto dimostrativo commerciale a Silver Springs, NV, e pianifica un'espansione su scala industriale. Il processo dell'azienda recupera circa il 10-15% del peso in ingresso dei pannelli solari come alluminio. La loro soluzione zero-discarica genera ricavi sia dalla ricezione dei pannelli che dalla vendita di materiali riciclati, creando un sistema a ciclo chiuso per il riciclaggio dei pannelli solari.
Comstock Inc. (NYSE: LODE) y su subsidiaria, Comstock Metals, han anunciado sus primeros envíos e ingresos por materiales de paneles solares reciclados. La compañía vendió más de 1.360 kilogramos de aluminio reciclado, superando las expectativas con un precio superior a cincuenta centavos por kilogramo. Este hito sigue a su primer ingreso por la recuperación de paneles solares al final de su vida útil en el último trimestre.
Comstock Metals opera una instalación de demostración comercial en Silver Springs, NV, y está planeando una expansión a escala industrial. El proceso de la compañía recupera aproximadamente el 10-15% del peso de entrada de los paneles solares como aluminio. Su solución de cero vertederos genera ingresos tanto por la recepción de paneles como por la venta de materiales reciclados, creando un sistema de reciclaje de paneles solares en ciclo cerrado.
Comstock Inc. (NYSE: LODE)와 그 자회사 Comstock Metals가 재활용된 태양광 패널 소재의 첫 선적 및 수익을 발표했습니다. 이 회사는 3,000파운드가 넘는 재활용 알루미늄을 판매하였으며, 파운드당 50센트를 초과하는 가격으로 기대를 뛰어넘었습니다. 이는 지난 분기 수명이 다한 태양광 패널을 처리하여 올린 첫 수익에 이어 이루어진 이정표입니다.
Comstock Metals는 네바다주 실버 스프링스에 상업 시연 시설을 운영하고 있으며 산업 규모 확장을 계획하고 있습니다. 이 회사의 공정은 태양광 패널 입력 중 약 10-15%를 알루미늄으로 회수합니다. 그들의 제로 랜드필 솔루션은 패널 수령과 재활용된 자재 판매 모두에서 수익을 생성하여 태양광 패널 재활용의 폐쇄형 시스템을 만들어냅니다.
Comstock Inc. (NYSE: LODE) et sa filiale, Comstock Metals, ont annoncé leurs premières expéditions et revenus provenant de matériaux de panneaux solaires recyclés. L'entreprise a vendu plus de 1.360 kilogrammes d'aluminium recyclé, dépassant les attentes avec un prix de plus de cinquante centimes par kilogramme. Ce jalon fait suite à leurs premiers revenus tirés du traitement de panneaux solaires en fin de vie lors du dernier trimestre.
Comstock Metals exploite une installation de démonstration commerciale à Silver Springs, NV, et prévoit une expansion à l'échelle industrielle. Le processus de l'entreprise récupère environ 10 à 15 % du poids d'entrée des panneaux solaires sous forme d'aluminium. Leur solution zéro déchet génère des revenus à la fois grâce à la réception de panneaux et à la vente de matériaux recyclés, créant un système en boucle fermée pour le recyclage des panneaux solaires.
Comstock Inc. (NYSE: LODE) und ihre Tochtergesellschaft, Comstock Metals, haben ihre ersten Lieferungen und Einnahmen aus recyceltem Solarplattenmaterial bekannt gegeben. Das Unternehmen verkaufte über 1.360 Kilogramm recyceltes Aluminium und übertraf damit die Erwartungen mit einem Preis von über fünfzig Cent pro Kilogramm. Dieser Meilenstein folgt auf die ersten Einnahmen aus der Verarbeitung von ausgedienten Solarplatten im letzten Quartal.
Comstock Metals betreibt eine gewerbliche Demonstrationsanlage in Silver Springs, NV, und plant eine Expansion im industriellen Maßstab. Der Prozess des Unternehmens recycelt etwa 10-15% des Eingangsgewichts der Solarplatten in Aluminium. Ihre Null-Deponie-Lösung generiert Einnahmen sowohl aus dem Empfang von Platten als auch aus dem Verkauf von recycelten Materialien und schafft ein geschlossenes System für das Recycling von Solarplatten.
- First revenue generated from sale of recycled aluminum from solar panels
- Exceeded expectations with aluminum scrap price of over $0.50 per pound
- Demonstrated ability to process and sell clean, reusable materials
- Dual revenue streams: in-take fees and recycled material sales
- Commenced permitting for industry-scale expansion
- Secured permit to store large volumes of solar panels
- None.
Insights
Comstock Metals' first shipment and sale of recycled aluminum marks a significant milestone in their solar panel recycling venture. The 3,000 pounds of aluminum sold at
The 10-15% aluminum recovery rate from solar panels is promising, especially considering the unexpected higher secondary recovery. This efficiency could translate into substantial revenues as operations scale up. However, investors should be cautious as the current demonstration facility's output may not be indicative of full-scale operations. The planned industry-scale expansion will be a critical factor in determining the company's future profitability and market position.
Comstock Metals' zero-landfill solution for solar panel recycling addresses a growing environmental concern in the renewable energy sector. With the rapid expansion of solar installations, end-of-life panel disposal is becoming a significant issue. The company's ability to recycle 100% of panel components not only mitigates environmental impact but also creates a circular economy model for the solar industry.
The strategic location of their expansion in the western United States is particularly noteworthy, as it aligns with the region's high solar adoption rates. This positioning could give Comstock a competitive edge in securing large-volume contracts. However, the success of this venture will depend on the company's ability to scale operations efficiently while maintaining their zero-landfill commitment. The environmental benefits and potential for reducing electronic waste make this an impactful development for the renewable energy sector.
Comstock Metals' entry into the solar panel recycling market is timely and potentially lucrative. The solar industry is experiencing rapid growth, with annual installations expected to reach 30 GW by 2025 in the US alone. This growth will inevitably lead to an increase in end-of-life panels requiring disposal or recycling.
The company's dual revenue stream - from intake and material sales - provides a robust business model. However, competition in this space is likely to intensify as the market matures. Comstock's success will hinge on securing long-term supply commitments and establishing reliable off-take partnerships. The mention of engagement with large-scale suppliers and customers is promising, but investors should watch for concrete, long-term agreements. The company's first-mover advantage in the western US could be significant, but maintaining technological leadership and operational efficiency will be important for long-term success in this emerging market.
VIRGINIA CITY, Nev., Aug. 20, 2024 (GLOBE NEWSWIRE) -- Comstock Inc. (NYSE: LODE) (“Comstock” and the “Company”) and its subsidiary, Comstock Metals Corporation (“Comstock Metals”), a technology leader in efficiently recycling end-of-life solar panels into reusable aluminum, copper, silver, glass and other minerals, that delivers a
“Last quarter, we recognized our first in-take revenue from the receipt and successful processing of end-of-life solar panels,” stated Corrado De Gasperis, Executive Chairman and CEO of Comstock Inc. “We have effectively demonstrated our ability to process clean and fully salable materials and validating our zero-landfill commitment. Our team has now engaged various customer groups for each type of these recovered materials, and just last week shipped and billed our first off-take customer, successfully closing the loop. Our system earns revenue on both ends.”
Comstock Metals currently operates a commercial, demonstration facility in Silver Springs, NV, and has commenced the permitting of an Industry-scale expansion that is strategically located to serve the rapidly expanding solar industry in the western United States. With the recently permitted capacity to store large volumes of solar panels, Comstock Metals is poised to lead the solar panel recycling sector, contributing to the reduction of landfilled electronic waste and recovery and reuse of precious, critical and otherwise valuable materials.
“Our demonstration facility has enabled a new, renewable supply chain that enjoys up-front, primary revenues for the environmental service of receiving, processing and disposing of the waste panels while fully recycling the materials for reuse and enabling a productive, secondary revenue stream,” added Dr. Fortunato Villamagna, President of Comstock Metals. “We are now engaged with both large-scale suppliers for high-volume, longer-term, revenue-generating supply commitments as well as large-scale, off-take customers and partners for quality material sales.”
About Comstock
Comstock Inc. (NYSE: LODE) commercializes innovative technologies that contribute to global decarbonization by efficiently converting under-utilized natural resources, primarily, woody biomass into net zero renewable fuels, end-of-life metal extraction, and generative AI-enabled advanced materials synthesis and mineral discovery. To learn more, please visit www.comstock.inc.
Comstock Social Media Policy
Comstock Inc. has used, and intends to continue using, its investor relations link and main website at www.comstock.inc in addition to its Twitter, LinkedIn and YouTube accounts, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.
CONTACTS:
For investor inquiries:
RB Milestone Group LLC
Tel (203) 487-2759
ir@comstockinc.com
For media inquiries or questions:
Comstock Inc., Zach Spencer
Tel (775) 847-7532
questions@comstockinc.com
Forward-Looking Statements
This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future market conditions; future explorations or acquisitions; future changes in our research, development and exploration activities; future financial, natural, and social gains; future prices and sales of, and demand for, our products and services; land entitlements and uses; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land and asset sales; investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives, including the nature, timing and accounting for restructuring charges, derivative assets and liabilities and the impact thereof; contingencies; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings, limitations on sales or offering of equity or debt securities, including asset sales and associated costs; business opportunities, growth rates, future working capital, needs, revenues, variable costs, throughput rates, operating expenses, debt levels, cash flows, margins, taxes and earnings. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments, and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: adverse effects of climate changes or natural disasters; adverse effects of global or regional pandemic disease spread or other crises; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, and lithium, nickel and cobalt recycling, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration, metal recycling, processing or mining activities; costs, hazards and uncertainties associated with precious and other metal based activities, including environmentally friendly and economically enhancing clean mining and processing technologies, precious metal exploration, resource development, economic feasibility assessment and cash generating mineral production; costs, hazards and uncertainties associated with metal recycling, processing or mining activities; contests over our title to properties; potential dilution to our stockholders from our stock issuances, recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting our businesses; permitting constraints or delays; challenges to, or potential inability to, achieve the benefits of business opportunities that may be presented to, or pursued by, us, including those involving battery technology and efficacy, quantum computing and generative artificial intelligence supported advanced materials development, development of cellulosic technology in bio-fuels and related material production; commercialization of cellulosic technology in bio-fuels and generative artificial intelligence development services; ability to successfully identify, finance, complete and integrate acquisitions, joint ventures, strategic alliances, business combinations, asset sales, and investments that we may be party to in the future; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, lithium, nickel, cobalt, cyanide, water, diesel, gasoline and alternative fuels and electricity); changes in generally accepted accounting principles; adverse effects of war, mass shooting, terrorism and geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the Securities and Exchange Commission; potential inability to list our securities on any securities exchange or market or maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund, or any other issuer.
FAQ
What is Comstock's NYSE stock symbol?
How much recycled aluminum did Comstock Metals ship in its first sale?
What percentage of solar panel input weight does Comstock expect to recover as aluminum?
Where is Comstock Metals' commercial demonstration facility located?
What is unique about Comstock Metals' solar panel recycling process?
