Comstock Updates on Business Commercialization, Investments and Real Estate Sales
Comstock Inc. (NYSE American: LODE) has announced significant developments in its clean energy businesses. The company secured new revenue contracts for solar panel recycling, established an international equity partnership for its low-carbon fuels business, and received an indicative term sheet for $325 million in gross funding through SBC Commerce Additionally, Comstock raised $3.5 million in convertible debt financing with an option for an extra $1.5 million to support ongoing commercialization efforts.
The company's Comstock Fuels division offers advanced biomass refining solutions, producing cellulosic ethanol and other renewable fuels with low carbon intensities. Comstock Metals has begun receiving materials from various customers for solar panel recycling at its Nevada facility. These developments, along with potential asset sales, are estimated by management to recognize valuations of nearly $500 million for the company's three business segments.
Comstock Inc. (NYSE American: LODE) ha annunciato importanti sviluppi nelle sue attività di energia pulita. L'azienda ha ottenuto nuovi contratti di entrate per il riciclo di pannelli solari, ha stabilito una partnership di capitale internazionale per la sua attività di combustibili a basse emissioni di carbonio e ha ricevuto un term sheet indicativo per 325 milioni di dollari in finanziamenti lordi tramite SBC Commerce. Inoltre, Comstock ha raccolto 3,5 milioni di dollari in finanziamenti tramite debito convertibile, con un'opzione per ulteriori 1,5 milioni di dollari a supporto degli sforzi di commercializzazione in corso.
La divisione Comstock Fuels offre avanzate soluzioni di raffinazione della biomassa, producendo etanolo cellulosa e altri combustibili rinnovabili con basse intensità di carbonio. Comstock Metals ha iniziato a ricevere materiali da vari clienti per il riciclo di pannelli solari presso il suo stabilimento in Nevada. Questi sviluppi, insieme a potenziali vendite di asset, sono stimati dalla direzione per riconoscere valutazioni di quasi 500 milioni di dollari per i tre segmenti commerciali dell'azienda.
Comstock Inc. (NYSE American: LODE) ha anunciado desarrollos significativos en sus negocios de energía limpia. La compañía aseguró nuevos contratos de ingresos para el reciclaje de paneles solares, estableció una asociación internacional de capital para su negocio de combustibles de bajas emisiones de carbono y recibió una hoja de términos indicativa por $325 millones en financiación bruta a través de SBC Commerce. Además, Comstock recaudó $3.5 millones en financiamiento de deuda convertible con una opción de $1.5 millones adicionales para respaldar los esfuerzos de comercialización en curso.
La división Comstock Fuels ofrece soluciones avanzadas de refinación de biomasa, produciendo etanol celulósico y otros combustibles renovables con bajas intensidades de carbono. Comstock Metals ha comenzado a recibir materiales de varios clientes para el reciclaje de paneles solares en su instalación de Nevada. Estos desarrollos, junto con posibles ventas de activos, son estimados por la gerencia para reconocer valoraciones de casi $500 millones para los tres segmentos comerciales de la empresa.
Comstock Inc. (NYSE American: LODE)는 청정 에너지 사업에서 중요한 발전을 발표했습니다. 이 회사는 태양광 패널 재활용을 위한 신규 수익 계약을 확보하고, 저탄소 연료 사업을 위한 국제 지분 파트너십을 구축했으며, SBC Commerce를 통해 3억 2,500만 달러의 총 자금을 위한 indicative term sheet를 받았습니다. 또한, Comstock는 지속적인 상용화 노력을 지원하기 위해 추가 150만 달러 옵션이 포함된 전환사채로 350만 달러를 모금했습니다.
Comstock Fuels 부서는 세포로오스 에탄올 및 낮은 탄소 강도를 가진 기타 재생 가능 연료를 생산하는 고급 바이오매스 정제 솔루션을 제공합니다. Comstock Metals는 네바다 시설에서 태양광 패널 재활용을 위해 여러 고객으로부터 자재를 받기 시작했습니다. 이러한 발전과 잠재적인 자산 매각은 회사의 세 가지 사업 부문에 대해 거의 5억 달러의 평가를 인정받을 것으로 경영진이 추정하고 있습니다.
Comstock Inc. (NYSE American: LODE) a annoncé des développements significatifs dans ses activités d'énergie propre. L'entreprise a obtenu de nouveaux contrats de revenus pour le recyclage de panneaux solaires, a établi un partenariat de capital international pour son activité de combustibles à faibles émissions de carbone et a reçu une feuille de conditions indicative de 325 millions de dollars de financement brut via SBC Commerce. De plus, Comstock a levé 3,5 millions de dollars en financement de dette convertible, avec une option pour 1,5 million de dollars supplémentaires pour soutenir les efforts de commercialisation en cours.
La division Comstock Fuels propose des solutions avancées de raffinage de biomasse, produisant de l'éthanol cellulosique et d'autres combustibles renouvelables avec de faibles intensités en carbone. Comstock Metals a commencé à recevoir des matériaux de divers clients pour le recyclage de panneaux solaires dans son établissement du Nevada. Ces développements, ainsi que des ventes d'actifs potentielles, sont estimés par la direction à reconnaître des valorisations de près de 500 millions de dollars pour les trois segments commerciaux de l'entreprise.
Comstock Inc. (NYSE American: LODE) hat bedeutende Entwicklungen in seinen Geschäften mit sauberer Energie angekündigt. Das Unternehmen hat neue Einnahmenverträge für das Recycling von Solarpanelen gesichert, eine internationale Beteiligungspartnerschaft für sein Geschäft mit kohlenstoffarmen Kraftstoffen eingerichtet und ein indikatives Term Sheet über 325 Millionen Dollar an Bruttofinanzierung über SBC Commerce erhalten. Darüber hinaus hat Comstock 3,5 Millionen Dollar an wandelbaren Schuldtiteln aufgenommen, mit einer Option auf zusätzliche 1,5 Millionen Dollar zur Unterstützung laufender Kommerzialisierungsbemühungen.
Die Comstock Fuels Division bietet fortgeschrittene Lösungen zur Raffinierung von Biomasse und produziert Zelluloseethanol und andere erneuerbare Brennstoffe mit niedrigen Kohlenstoffintensitäten. Comstock Metals hat begonnen, Materialien von verschiedenen Kunden zum Recycling von Solarpanelen in seiner Einrichtung in Nevada zu erhalten. Diese Entwicklungen, zusammen mit potenziellen Vermögensverkäufen, werden von der Unternehmensführung auf fast 500 Millionen Dollar für die drei Geschäftssegmente des Unternehmens geschätzt.
- Secured new revenue contracts for solar panel recycling business
- Established international equity partnership with revenue and royalty agreements for low-carbon fuels business
- Received indicative term sheet for $325 million in gross funding
- Raised additional $3.5 million in convertible debt financing with option for $1.5 million more
- Management estimates nearly $500 million in valuations for the company's three businesses
- Convertible debt financing may lead to potential dilution of existing shareholders
- SBCC transactions are still subject to final structuring, documentation, due diligence, and regulatory approvals
Insights
Comstock's recent announcements reveal a mixed financial picture. The company secured a
The indicative term sheet for
Investors should closely monitor the progress of these deals and their impact on Comstock's balance sheet and future earnings potential. The company's pivot towards clean energy technologies presents both opportunities and execution risks that warrant careful consideration.
Comstock's advancements in solar panel recycling and lignocellulosic fuels position it well in the rapidly growing clean energy sector. Their fuel technology, producing cellulosic ethanol and other renewable fuels with extremely low carbon intensities (
The company's ability to produce up to 125 GGEs per dry metric ton of feedstock is impressive and could translate into substantial revenue streams if scaled effectively. However, the success of this technology will depend on factors such as feedstock availability, production costs and market demand for low-carbon fuels.
The solar panel recycling business also shows promise, addressing a growing need in the solar industry. As more panels reach end-of-life, Comstock's recycling capabilities could become increasingly valuable, potentially creating a steady revenue stream.
Comstock's strategic shift towards clean energy technologies aligns well with global trends towards sustainability and decarbonization. The company's focus on solar panel recycling and advanced biofuels positions it in two rapidly growing markets with significant potential.
The global biofuels market is projected to reach
Similarly, the solar panel recycling market is expected to grow substantially as the first generation of solar installations reaches end-of-life. This presents a unique opportunity for Comstock to establish itself as a leader in this nascent but important sector.
However, investors should be aware that both markets are highly competitive and subject to regulatory changes, which could impact Comstock's growth prospects.
VIRGINIA CITY, Nev., Sept. 19, 2024 (GLOBE NEWSWIRE) -- Comstock Inc. (NYSE American: LODE) (“Comstock”) a leader in hard technology developments enabling clean energy, recently announced new revenue contracts for its solar panel recycling business, an international equity partnership with revenue and royalty generating agreements for its low carbon, lignocellulosic fuels business, certain asset sales and an indicative term sheet for
“Our commercialization pipelines have grown, broadened and accelerated as our teams have been effective in demonstrating our remarkable, commercial-ready clean technologies, that are now translating into real market adoptions,” said Corrado De Gasperis, Executive Chairman and CEO of Comstock Inc. “We raised additional capital with trusted partners to ensure that we maintain and accelerate our current commercialization pace and carefully structured this deal with higher, near term conversion premiums (initially
The SBCC transactions are progressing and subject to final structuring, documentation, due diligence and applicable regulatory approvals. This term sheet represents a combination of direct investments and certain asset sales that recognizes significant valuations, nearly
Comstock Fuels offers advanced lignocellulosic biomass refining solutions that produce market-leading yields of cellulosic ethanol, gasoline, renewable diesel, sustainable aviation fuel, and other renewable fuels at extremely low carbon intensities (15 grams of carbon dioxide equivalent per megajoule of energy (gCO2e/MJ), that are proven to produce up to 125 GGEs per dry metric ton of feedstock on a GGE basis, depending on feedstock, lignin content, site conditions, and other parameters. Comstock is currently planning to build, own, and operate its first four U.S. facilities.
Comstock Metals has now received materials from new, local, regional and nationally recognizable customers where they coordinated and enabled the decommissioning of these end-of-life panels from their facilities and coordinated the transportation of these panels to its permitted facility in Nevada where the materials will be processed and recycled.
“We are meticulously planning, organizing, and coordinating with SBCC and it is important that we complete certain prerequisites for ourselves and our capital partners, in terms of certain tax-efficient entity reorganization and other customary realignments before taking in any of the committed funds. We are pleased and excited with the collaboration and progress and are confident about closing these transactions over the coming months,” concluded De Gasperis.
About Comstock Inc.
Comstock Inc. (NYSE: LODE) commercializes innovative technologies that contribute to global decarbonization and the clean energy transition by efficiently converting under-utilized natural resources, primarily, woody biomass into low-carbon renewable fuels, end-of-life metal extraction and renewal, and generative AI-enabled advanced materials synthesis and mineral discovery for sustainable mining. 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 new developments has Comstock Inc. (LODE) announced in September 2024?
What are the key features of Comstock Fuels' biomass refining solutions?
How is Comstock Inc. (LODE) expanding its solar panel recycling business?
What is the estimated valuation of Comstock Inc.'s (LODE) three business segments according to management?
