Comstock Metals Secures New and Larger Revenue Contracts

VIRGINIA CITY, Nev., Sept. 17, 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 100% closed-loop, zero-landfill solution, today announced over $150,000 in new revenues from one new commercial customer that has engaged Comstock Metals for the decommissioning and disposal of their solar panels.

Comstock Metals strives to recycle materials efficiently and effectively 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.

“Our team is capturing more and more business, including decommissioning services that act as a feeder for the zero-landfill and, if needed, full-service solutions we can now provide,” stated Corrado De Gasperis, Executive Chairman and CEO of Comstock Inc. “Our team continues engaging with various local, regional and 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.

“As we expand our market presence, we have increased our relationships, longer term opportunities, and now the expanded services that we can provide to ensure that we keep these materials out of our landfills and eco-systems,” concluded Dr. Villamagna. “This recent project represents our third and largest, new decommissioning in just the past few weeks with six figure revenue, about two-thirds for the high labor component decommissioning work and one third for our advanced recycling services fees.”

Comstock Metals has now received materials from new, local, regional and nationally recognizable customers where the Company 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. This entire segment was in response to demand from the industry, where expertise, resources, and assets are often difficult to provide. Comstock Metals recognized the gap in the market, the opportunity to expand our service offering, and to capitalize on and further strengthen the Company’s business development activities.

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 .

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CONTACTS:

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