VIRGINIA CITY, Nev., June 24, 2025 (GLOBE NEWSWIRE) -- Comstock Inc. (NYSE American: LODE) today announced that its subsidiary, Comstock Metals LLC ("Comstock"), a pioneer in sustainable, zero-landfill solar panel recycling and the first solar panel recycling company in North America to be certified to the R2v3/RIOS Responsible Recycling Standard, has entered into a strategic partnership with Virtus Renewables Service Group Inc. (“Virtus”), a leading provider of comprehensive renewable energy solutions. Und ...

Core Insights - Comstock Inc. has received approval for a conditional use permit to expand material storage for solar panels, facilitating the development of the first industry-scale solar panel recycling facility in Silver Springs, Nevada [1][3] - The facility aims to provide a 100% closed-loop, zero-landfill solution for end-of-life solar panels, setting a new standard in the solar recycling industry [2][4] - The facility is expected to process 100,000 tons of waste solar panels annually and is in the final stages of permitting, with commissioning planned for the first quarter of 2026 [4] Company Developments - Comstock Metals, a subsidiary of Comstock Inc., is focused on sustainable practices and advanced technologies in solar recycling [2][5] - The company has demonstrated the ability to recycle and reuse 100% of materials, leading to master service agreements with major utilities [3][4] - Comstock Metals is the first solar panel recycling company in North America certified by SERI to the R2v3/RIOS Responsible Recycling Standard, ensuring a zero-waste recycling process [4] Industry Context - The Silver Springs facility is strategically positioned to serve the growing solar industry in the western United States, addressing the need for efficient end-of-life solutions for solar panels [3][4] - The expansion of storage capacity is crucial for managing large volumes of solar panels and meeting the demands of large-scale customers [3][4] - Comstock's unique thermal delaminating processes and sustainable practices enhance its leadership in the recycling sector and strengthen the supply chain for domestically manufactured electrification products [5][6]

Financial Data and Key Metrics Changes - The company recently closed a strategic direct Series A investment of $20 million for approximately 2% of Biolium Corporation, which is expected to exceed the previously discussed $700 million cap [2][31] - The valuation for the Series A is anticipated to be higher than the initial cap, with expectations of reaching over $1 billion [40][51] Business Line Data and Key Metrics Changes - Comstock Metals is experiencing rapid revenue growth and has achieved significant industry recognition, including becoming the first company in North America to earn stringent recycling certifications [55][56] - The solar panel recycling facility is fully operational with three shifts, handling increased demand and preparing for industry-scale production [95] Market Data and Key Metrics Changes - The renewable fuels market is currently facing challenges, but the company is positioned to capitalize on strategic partnerships and market demand for biolium oils and renewable diesel [36][94] - The company has secured a $3 million incentive grant and a $152 million bond application for its Oklahoma facility, indicating strong local support and investment interest [32] Company Strategy and Development Direction - The separation of Biolium Corporation from Comstock Inc. is seen as a strategic move to allow both entities to focus on their respective markets, with Biolium targeting renewable fuels and Comstock Metals focusing on mining and recycling [49][66] - The company aims to take Biolium public at the optimal time to maximize valuation, emphasizing the importance of achieving certain milestones before an IPO [36][84] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth potential of both businesses, highlighting the importance of strategic partnerships and the need for capital to support ongoing development [64][68] - The company is focused on enabling energy independence and believes it has the technology to significantly impact the renewable fuels market [67][89] Other Important Information - The company holds $65 million in preferred stock in Biolium, convertible into 32.5 million common shares, which positions it favorably for future growth [49][50] - The management team is committed to ensuring that both companies are well understood by investors, with plans for ongoing communication and updates [41][91] Q&A Session Summary Question: When do you believe you will complete the Series A, and how much of Biolium do we own today? - Completion of the Series A could occur between June and September, with expectations that it will not exceed 10% of the company [72] Question: When will you start capital raising for the first Oklahoma refinery? - Capital raising efforts are underway, with significant bond allocations already secured, and project plans are progressing [74] Question: Is Marathon's contribution part of the $20 million Series A, or is it all cash? - The $20 million is cash, while Marathon's contribution was in kind, providing a state-of-the-art pilot facility [77][78] Question: When would you expect an IPO, and why not just spin it out public today? - An IPO is not expected until the company has matured and achieved revenue, as premature public offerings can lead to unfavorable valuations [81][83] Question: Will you be announcing additional offtakes and license agreements for Biolium Corp? - Additional offtake agreements are anticipated, with ongoing partnerships with Marathon and other strategic entities [91][94]

Financial Data and Key Metrics Changes - Comstock reported a significant increase in R&D expenses, which rose by $2,400,000 in Q1 compared to the prior year, primarily due to collaborations with the National Renewable Energy Lab (NREL) [9][11] - The company recorded a one-time non-cash expense charge of $1,500,000 during the quarter, impacting R&D spending [10] - Revenue from Comstock Metals soared to GBP 1,340,000 in Q1, a nearly fourfold increase from just over GBP 350,000 in the previous quarter [20][21] Business Line Data and Key Metrics Changes - Comstock Metals is expected to exceed its initial revenue guidance of $2,500,000 for the year, now projecting over $3,000,000 due to strong demand and new partnerships [21][22] - The company processed over 80,000 solar panels in Q1, with plans to scale up to 3,300,000 panels per year, indicating significant growth potential in the recycling business [23][36] Market Data and Key Metrics Changes - Comstock is the only R2 certified recycler in North America, which enhances its competitive position in the solar panel recycling market [24] - The company is actively winning business across multiple states, including Nevada, California, Florida, New Jersey, and Pennsylvania, indicating a broad market reach [25] Company Strategy and Development Direction - The strategic focus for Comstock is to establish a well-capitalized renewable fuels business through a direct spin-out and public offering, targeting at least $50,000,000 in Series A funding [38][39] - The company aims to deliver 200,000,000 barrels a year by 2035, leveraging high-yielding energy crops like xanograss for sustainable fuel production [39][41] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the mining sector, noting increased inquiries and interest in their mining assets due to rising gold and silver prices [43][46] - The company is focused on monetizing legacy real estate and non-strategic investments, with expectations of significant capital inflow from these efforts [42][46] Other Important Information - Comstock has engaged with sophisticated industry partners for technology and operations, enhancing its growth prospects [7][8] - The company has successfully eliminated significant cash obligations through strategic settlements, improving its financial flexibility [9][18] Q&A Session Summary Question: What is the plan and timetable for restarting or monetizing mining assets? - Management noted a bullish sentiment on gold prices and indicated that capital is starting to flow back into junior mining, which could benefit Comstock's assets [50][52] Question: Can you clarify the projected timeline for the expansion of the metals business? - The company expects to receive a permit for expanding storage in Q2, with financing and equipment orders planned for Q3, aiming for industry-scale production and revenue by Q2 of the following year [55][58] Question: What are the milestones for Comstock Fuels in the coming years? - Key milestones include the spin-out of fuels, securing additional funding, and establishing commercial supply agreements, with significant revenue expected from these initiatives [60][62]

VIRGINIA CITY, Nev., April 16, 2025 (GLOBE NEWSWIRE) -- Comstock Inc. (NYSE:LODE) announced today that its subsidiary, Comstock Metals LLC ("Comstock Metals"), a pioneer in sustainable, zero-landfill solar panel recycling has entered into a Master Services Agreement (MSA) with RWE Clean Energy, the U.S. subsidiary of leading global energy company, RWE. Comstock Metals will provide RWE with recycling, decommissioning, and logistics services for their expansive U.S. solar installations ensuring a zero-landfil ...

Trevor Brucato Welcome investors, analysts, and other stakeholders to Comstock's 2024 annual results and business update. This is Trevor Brucato with RB Milestone Group, Comstock's US-based investor relations firm. Comstock is listed on the NYSE American under the symbol LODE, and I am pleased to have with me the company's Chief Executive Officer and Executive Chair, Corrado De Gasperis, and Chief Operating Officer, William McCarthy. I would like to first thank those who submitted questions during registrat ...