VIRGINIA CITY, Nev., July 15, 2024 (GLOBE NEWSWIRE) -- Comstock Inc. (NYSE: LODE) ("Comstock" and the "Company") announced today that its subsidiary, Comstock Metals, has secured a long-term lease on a 100,000 square foot, industry-facility located at 600 Lake Avenue, Silver Springs, Nevada (the "Facility"). The Facility will deploy the capacity for processing up to 100,000 tons per year of end-of-life solar panels, located on the same campus as the currently operating demonstration facility. Comstock Metal ...

VIRGINIA CITY, Nev., July 15, 2024 (GLOBE NEWSWIRE) -- Comstock Inc. (NYSE: LODE) ("Comstock" and the "Company") announced today that its subsidiary, Comstock Metals, has secured a long-term lease on a 100,000 square foot, industry-facility located at 600 Lake Avenue, Silver Springs, Nevada (the "Facility"). The Facility will deploy the capacity for processing up to 100,000 tons per year of end-of-life solar panels, located on the same campus as the currently operating demonstration facility. Comstock Metal ...

Core Insights - Comstock has a strong portfolio of approximately 10 million square feet of assets located at key Metro stations in the Washington, D.C. region, benefiting from urbanization trends and transit-oriented developments [1] - The company has shown consistent revenue growth with a CAGR of 26% from 2020 to 2023, and adjusted EBITDA has increased at a remarkable 45% CAGR during the same period [3] - Comstock's share price has outperformed broader market trends, indicating strong investor confidence in its strategic positioning and growth prospects [5] Financial Performance - Revenues increased by 4% to $10.6 million in Q1 2024, marking the 15th consecutive period of year-over-year growth [3] - The company has a modest market capitalization of $61.8 million, which reflects its position in a promising but risky market segment [6] Development Pipeline - Comstock's active development pipeline includes multifamily, office, retail, and hospitality projects expected to be completed between 2024 and 2026, which are anticipated to significantly boost revenue and asset base [4] - Notable projects include the JW Marriott Hotel & Condos, set for completion in 2025, enhancing the company's asset base and revenue potential [9] Market Position - The company has secured high-profile tenants across various sectors, including office, retail, and hospitality, strengthening its market position [8] - Strategic partnerships with firms like Spartan Shield and Paris Baguette further enhance Comstock's competitive edge [8] Risks and Challenges - Revenue concentration in management agreements poses a risk if terms are renegotiated unfavorably, and the business model is sensitive to interest rate fluctuations [2] - Geographic concentration in the Washington, D.C. area makes Comstock vulnerable to regional economic downturns and policy changes [10] - Limited cash reserves of $16.2 million as of March 31, 2024, could pose liquidity challenges [10]

Comstock Metals is dedicated to advancing leading technologies and sustainable practices in the solar recycling industry. The new storage capacity enables the company to efficiently manage and process large quantities of end-of-life solar panels and delivers a 100% closed-loop, zero-landfill solution that sets a new standard for solar panel recycling. Comstock Inc. (NYSE: LODE) commercializes innovative technologies that contribute to global decarbonization by efficiently converting under-utilized natural r ...

About Comstock Inc. 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 an ...

Comstock's own recycling business, Comstock Metals, recently commissioned its own first-of-kind solar photovoltaic recycling facility, delivering a 100% closed loop, zero-landfill solar panel recycling process in Silver Springs, Nevada. Governor of Oklahoma. About Comstock Inc. 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 ...

Company Overview - Comstock Inc (NYSE: LODE) focuses on commercializing technologies for global decarbonization, including converting woody biomass into renewable fuels, end-of-life metal extraction, and advanced materials synthesis using generative AI [10] - The company operates Comstock Metals, a solar photovoltaic recycling facility in Nevada that delivers a 100% closed-loop, zero-landfill process [2] - Comstock has a strategic investment in Green Li-ion, a lithium-ion battery recycling technology company, since 2021 [8] Industry Developments - Green Li-ion has launched its first commercial-scale PCAM (precursor cathode active materials) facility in Atoka, Oklahoma, producing sustainable battery-grade materials from recycled batteries [1][7] - The battery recycling industry is addressing critical material needs for clean energy transition through domestic circular supply chains in North America and other regions [9] - Global battery material supply chains are under pressure, creating demand for reliable and environmentally sound recycling solutions [9] Strategic Partnerships - Comstock's Chairman and CEO participated in the ribbon-cutting event for Green Li-ion's new PCAM facility, highlighting the collaboration between the two companies [7] - Green Li-ion has secured funding from major international investors including Equinor Ventures, SOSV, EDP, Banpu NEXT, and Petronas [9] Technology Innovation - Green Li-ion's patented technology enables the conversion of spent batteries into battery-grade cathode and anode materials [7] - The company provides modular hardware solutions for on-site battery recycling capabilities, supporting manufacturers in building circular supply chains [9]

Dear Shareholders, Strategic Investments and Growth For example, Comstock Metals will secure debt and equity capital at the subsidiary level to fund the accelerated construction of our first two industry-scale facilities. The business model is now proven, and we are engaged in ongoing discussions with multiple counterparties interested in participating in primarily debt financing. These facilities are expected to generate positive cash flow in just a few years, allowing us to self-fund expansive if not expo ...

Core Viewpoint - Comstock is revising its agreements with RenFuel to enhance their partnership and expand their market presence in Europe, particularly in the development of biorefinery projects and sustainable fuel production. Group 1: Company Developments - Comstock has announced amendments to its agreements with RenFuel K2B AB, focusing on the development of a biorefinery project in Sweden and broadening their partnership scope in European markets [6] - The amendments allow for the liquidation of RenFuel's majority-owned subsidiary, RenFuel K2B Lignolproduktion AB, which was initially formed for a joint venture with Preem [1] - Comstock aims to construct commercial facilities in the Americas, including a 50,000 TPY facility and at least one 1,000,000 TPY facility for converting biomass into Sustainable Aviation Fuel and Renewable Diesel [2] Group 2: Financial Performance - Comstock reported a quarterly loss of 6 cents per share in Q1 2024, which was wider than the Zacks Consensus Estimate of a 4-cent loss, with revenues of $0.43 million for the quarter [11] - LODE shares have experienced a significant decline of 68% over the past year, contrasting with the industry growth of 7.3% [3] Group 3: Market Position and Technology - Comstock has utilized RenFuel's patented catalytic esterification technology to refine Bioleum derivatives into Hydrodeoxygenated Bioleum Oil, which can produce both Sustainable Aviation Fuel and Renewable Diesel [7] - The expanded partnership positions both Comstock and RenFuel for larger-scale commercial facility management based on their joint technologies in Europe [10]

Core Viewpoint - Comstock Inc. is advancing its partnership with RenFuel K2B AB by liquidating the RenFuel-Preem joint venture, allowing both companies to focus on constructing larger commercial facilities for renewable fuels in the Americas and Europe [1][7][8]. Group 1: Company Developments - Comstock has decided to prioritize the construction of commercial facilities utilizing joint technologies with RenFuel, including an initial facility with a capacity of 50,000 tons per year (TPY) and at least one facility with a capacity of 1,000,000 TPY, aimed at converting biomass into Sustainable Aviation Fuel (SAF) and Renewable Diesel [2][8]. - The liquidation of the RenFuel-Preem joint venture does not affect existing agreements between Comstock and RenFuel, except for Comstock's decision to decline its option to join the joint venture [1][7]. Group 2: Technological Innovations - Comstock's proprietary technologies can convert lignocellulosic biomass into Cellulosic Ethanol and Bioleum biointermediate blends, achieving yields exceeding 100 gallons per dry tonne of biomass on a gasoline gallon equivalent basis (GGE) and a low carbon intensity score of 15 [8]. - Comstock is utilizing RenFuel's patented catalytic esterification technology to refine Bioleum derivatives into Hydrodeoxygenated Bioleum Oil (HBO), which is used in advanced biofuel refineries [8]. Group 3: Market Positioning - The partnership between Comstock and RenFuel is expected to expand into European markets, enhancing their joint capabilities in renewable fuel production [7][8]. - Comstock holds exclusive rights to RenFuel's refining technologies in North America, Central America, and South America, positioning the company favorably in the renewable fuels market [8].