Comstock Metals Secures Multiple New Revenue Contracts
Comstock Inc. (NYSE: LODE) and its subsidiary, Comstock Metals, have secured new revenue contracts for decommissioning and disposing of end-of-life solar panels. The company has begun generating income from both intake and off-take operations, including recycling aluminum. Comstock Metals now offers deinstallation services in response to customer demand, receiving fees for decommissioning, transporting, and storing panels.
Operating from a commercial demonstration facility in Silver Springs, NV, Comstock Metals is positioned to lead the solar panel recycling sector. The company has expanded its services to include coordinating panel decommissioning and transportation for nationally recognizable customers. This expansion aims to meet growing market needs and serve as a feeder for their recycling services, contributing to reduced electronic waste in landfills.
Comstock Inc. (NYSE: LODE) e la sua controllata, Comstock Metals, hanno ottenuto nuovi contratti di entrata per il decommissioning e lo smaltimento di pannelli solari a fine vita. L'azienda ha iniziato a generare entrate sia dalle operazioni di ricevimento che di consegna, inclusa la raccolta di alluminio. Comstock Metals offre ora servizi di disinstallazione in risposta alla domanda dei clienti, ricevendo compensi per il decommissioning, il trasporto e lo stoccaggio dei pannelli.
Operando da una struttura di dimostrazione commerciale a Silver Springs, NV, Comstock Metals è posizionata per guidare il settore del riciclo dei pannelli solari. L'azienda ha espanso i suoi servizi per includere il coordinamento del decommissioning e del trasporto dei pannelli per clienti di riconoscimento nazionale. Questa espansione ha lo scopo di soddisfare le crescenti esigenze del mercato e di fungere da supporto per i loro servizi di riciclo, contribuendo a ridurre i rifiuti elettronici nelle discariche.
Comstock Inc. (NYSE: LODE) y su filial, Comstock Metals, han asegurado nuevos contratos de ingresos para el desmantelamiento y la eliminación de paneles solares al final de su vida útil. La empresa ha comenzado a generar ingresos tanto de las operaciones de entrada como de las de salida, incluida la reciclaje de aluminio. Comstock Metals ahora ofrece servicios de desinstalación en respuesta a la demanda de los clientes, recibiendo tarifas por el desmantelamiento, el transporte y el almacenamiento de los paneles.
Operando desde una instalación de demostración comercial en Silver Springs, NV, Comstock Metals está posicionada para liderar el sector del reciclaje de paneles solares. La empresa ha expandido sus servicios para incluir la coordinación del desmantelamiento y el transporte de paneles para clientes de reconocimiento nacional. Esta expansión tiene como objetivo satisfacer las crecientes necesidades del mercado y servir como un alimentador para sus servicios de reciclaje, contribuyendo a reducir los desechos electrónicos en los vertederos.
Comstock Inc. (NYSE: LODE)와 그 자회사인 Comstock Metals는 조기 수명이 다한 태양광 패널의 해체 및 폐기 처리를 위한 새로운 수익 계약을 체결했습니다. 회사는 알루미늄 재활용을 포함한 수입 및 출고 작업으로부터 수익을 창출하기 시작했습니다. Comstock Metals는 고객의 수요에 대응하여 해체 서비스를 제공하며, 패널의 해체, 운송 및 보관에 대한 수수료를 받고 있습니다.
Nevada주 Silver Springs에 있는 상업 시연 시설을 운영하며, Comstock Metals는 태양광 패널 재활용 분야를 이끌어갈 위치에 있습니다. 회사는 국가적으로 인정받는 고객을 위해 패널의 해체 및 운송을 조정하는 서비스를 확장했습니다. 이 확장은 성장하는 시장의 필요를 충족하고 재활용 서비스의 공급원 역할을 하여 매립지의 전자 폐기물 감소에 기여하기 위한 것입니다.
Comstock Inc. (NYSE: LODE) et sa filiale, Comstock Metals, ont sécurisé de nouveaux contrats de revenus pour le désassemblage et l'élimination des panneaux solaires en fin de vie. L'entreprise a commencé à générer des revenus à partir des opérations d'entrée et de sortie, y compris le recyclage de l'aluminium. Comstock Metals propose désormais des services de désinstallation en réponse à la demande des clients, facturant des frais pour le désassemblage, le transport et le stockage des panneaux.
Opérant depuis une installation de démonstration commerciale à Silver Springs, NV, Comstock Metals est bien placée pour diriger le secteur du recyclage des panneaux solaires. L'entreprise a élargi ses services pour inclure la coordination du désassemblage et du transport des panneaux pour des clients reconnus à l'échelle nationale. Cette expansion vise à répondre aux besoins croissants du marché et à servir de ressource pour leurs services de recyclage, contribuant à réduire les déchets électroniques dans les décharges.
Comstock Inc. (NYSE: LODE) und ihre Tochtergesellschaft Comstock Metals haben neue Einnahmeverträge für die Stilllegung und Entsorgung von ausgedienten Solarpanels gesichert. Das Unternehmen hat begonnen, Einnahmen sowohl aus der Annahme als auch aus den Abholmöglichkeiten zu generieren, einschließlich des Recyclings von Aluminium. Comstock Metals bietet jetzt Demontageservices in Reaktion auf die Kundennachfrage an und erhält Gebühren für die Stilllegung, den Transport und die Lagerung der Panels.
Comstock Metals, das von einer kommerziellen Demonstrationseinrichtung in Silver Springs, NV, aus arbeitet, ist in der Position, den Bereich des Solarpanellrecyclings zu leiten. Das Unternehmen hat seine Dienstleistungen erweitert, um die Stilllegung und den Transport von Panels für landesweit anerkannte Kunden zu koordinieren. Diese Expansion zielt darauf ab, den wachsenden Marktbedürfnissen gerecht zu werden und als Zubringer für ihre Recyclingdienste zu fungieren, was zur Verringerung von Elektronikmüll auf Deponien beiträgt.
- Secured new revenue contracts for decommissioning and disposing of end-of-life solar panels
- Generated first intake and off-take revenues from processing solar panels and recycling materials
- Expanded services to include deinstallation, receiving additional fees for decommissioning and transporting panels
- Increased relationships and longer-term agreements with nationally recognizable customers
- Positioned to lead the solar panel recycling sector with permitted capacity to store large volumes of panels
- None.
Insights
Comstock Metals' expansion into decommissioning services marks a strategic move to capture more value in the solar panel recycling chain. This vertical integration could lead to increased revenue streams and improved profit margins. The company's ability to quickly adapt to customer needs demonstrates agility in a growing market. However, the financial impact remains uncertain without specific revenue figures or contract values. The tipping fees and additional service charges for decommissioning and transport provide diversified income sources, potentially strengthening the company's financial position. Investors should monitor how these new contracts translate into tangible financial results in upcoming quarters.
Comstock Metals' zero-landfill, closed-loop recycling solution for solar panels addresses a critical environmental challenge. With the rapid growth of solar energy, the issue of panel disposal at end-of-life is becoming increasingly significant. The company's approach aligns with circular economy principles, potentially reducing the environmental impact of the solar industry. By recovering valuable materials like aluminum, copper and silver, Comstock is not only preventing waste but also conserving natural resources. The expansion into decommissioning services further enhances their environmental value proposition. This holistic approach could position Comstock as a leader in sustainable practices within the renewable energy sector, potentially attracting environmentally conscious investors and partners.
The solar panel recycling market is poised for significant growth, driven by the increasing adoption of solar energy and the eventual need to dispose of first-generation panels. Comstock Metals' expansion into decommissioning services addresses a crucial market gap, potentially giving them a competitive edge. The company's ability to secure contracts with nationally recognizable customers suggests growing market acceptance and could lead to increased brand recognition. However, the market is likely to become more competitive as awareness of recycling needs grows. Comstock's success will depend on its ability to scale operations, maintain technological advantages and secure long-term contracts. The company's focus on meeting evolving customer needs indicates strong market responsiveness, which could be a key differentiator in this emerging industry.
VIRGINIA CITY, Nev., Sept. 10, 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
Comstock Metals strives to efficiently and effectively recycle materials at industrial scales, such that these materials are carefully recovered in a manner whereby they can be recycled and reused over and over again, representing the true definition of circularity, and the process and service that Comstock Metals strives to perfect and offer.
"We recognized our first in-take revenues from the receipt and processing of end-of-life solar panels and our first off-take revenues from reprocessed and shipped materials, such as recycled aluminum,” stated Corrado De Gasperis, Executive Chairman and CEO of Comstock Inc. “Now, our team is engaged with various, nationally recognized commercial customers to decommission, transport and process end-of-life solar panels installed at their facilities.”
Comstock Metals currently operates a commercial, demonstration facility in Silver Springs, NV, and recently, in direct response to customer needs, now provides and manages deinstallation services for customers. The Company receives a tipping fee for the receipt and storage of end-of-life solar panels while now also receiving additional fees for decommissioning and transporting the panels. 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, recovery and reuse of precious and valuable materials.
“Frankly, this was an unanticipated request from our continuously evolving customer base, to which we were able to quickly respond, address, organize, and successfully provide,” added Dr. Fortunato Villamagna, President of Comstock Metals. “The result has been the rapid and successful completion of several deinstallations, with several other deinstallation projects that are currently under negotiation and/or under bid. These services meet an important and growing market need and act as a tremendous feeder for the recycling services that we provide.”
Comstock Metals has now received materials from new, nationally recognizable customers where we coordinated and enabled the decommissioning of the end-of-life panels from their facilities and coordinated the transportation of these panels to the facility in Silver Springs, where the materials will be processed and recycled.
“As we expand our market presence, we have increased our relationships, our longer terms agreements and even the services that we can provide to ensure that we keep these materials out of our landfills and eco-systems,” said Dr. Villamagna. He concluded, “We are now expanding decommissioning services with additional, potential large-scale customers for high-volume, longer-term, revenue-generating supply commitments.”
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
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FAQ
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