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Comstock Inc. (NYSE: LODE) ("Comstock" and the "Company") and Comstock Metals LLC ("Comstock Metals"), a leader in the responsible, zero-landfill recycling of end-of-life solar panels with North America's first certified operations, announced that the Company's Solar Panel Recycling Production system is now operating continuously at its Silver Springs, Nevada facility. "Following dedicated work preparation with our production supervisors and operating staff across the four shift teams, we have now successfully graduated to continuous operations," stated Dr. Fortunato Villamagna, President of Comstock Metals. "We are grateful for the dedicated efforts and support of our entire team, our strategic suppliers, contractors, regulators and the broader Silver Springs community for making this first-of-a-kind operation possible."
By establishing this continuous processing model in Silver Springs, Comstock Metals solidifies its market-leading position at the forefront of responsible, zero-landfill recycling of end-of-life solar panels. The facility's transition to continuous production ensures an efficient, high-volume, zero-landfill solution that eliminates disposal-related environmental liabilities for our utility-scale solar customers and provides them with certified, audit-ready chain-of-custody documentation validating that their end-of-life regulatory obligations have been fully discharged. The Company will now ramp up its production platform to meet increasingly higher customer volume demands.
The plant addresses a challenge the industry is only beginning to confront. As the installed base of solar panels approach the end of their operating lives, the volume of end-of-life panels requiring responsible processing is projected to grow sharply, far outpacing the industry's current capacity.
With Silver Springs operating continuously and additional storage capacity in place at its Hanford, CA and Cambridge, OH facilities, Comstock believes it is one of the few, if not the only, true domestic recyclers positioned to absorb the anticipated flow of end-of-life panels at the volumes utility-scale generators will require, without compromising the zero-landfill and chain-of-custody standards that customers depend on.
"The successful transition to continuous processing represents the most meaningful operational milestone to date for our expanding recycling platform," stated Corrado De Gasperis, CEO of Comstock Inc. "We have methodically developed, deployed, tested and are now continuously operating. We believe the technical implementation hurdles and uncertainties related to the first-time scaled deployment of our proprietary Solar Panel Recycling Production system have now been overcome. With demonstrable continuous production, our focus now turns to volume ramp."
About Comstock Metals
Comstock Metals is a national leader in the environmentally responsible, zero-landfill recycling of end-of-life solar panels and related energy infrastructure. Comstock Metals' internally developed recycling technologies and continuous innovation produce recovered materials that strengthen domestic supply chains for advanced technologies while helping customers eliminate the economic, environmental, and reputational liabilities associated with end-of-life panel management. To learn more and stay up to date, visit www.comstockmetals.com and follow Comstock Metals on LinkedIn and YouTube.
About Comstock Inc.
Comstock Inc. (NYSE: LODE) innovates and commercializes technologies, systems and supply chains that enable, support and sustain clean energy systems by efficiently, effectively, and expediently extracting and converting under-utilized natural resources into reusable metals, like silver, aluminum, gold, and other critical minerals, primarily from end-of-life photovoltaics and renewable fuels, chemicals and animal feedstocks, primarily derived from proprietary crops from its wholly-owned Hexas Biomass Inc. and other forms of woody biomass for energy.
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 X.com, 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:
Judd B. Merrill, Chief Financial Officer
Tel (775) 413-6222
ir@comstockinc.com
For media inquiries:
Zach Spencer, Director of External Relations
Tel (775) 847-7573
media@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," "forecast," "seek," "target," "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 financial, natural, and social gains; future prices and sales of, and demand for, our products and services; 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 and business combinations; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings of equity or debt securities; and 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. 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 or any other issuer.
