Scheduled for Delivery in Q4 2025, the Northern Nevada Complex will be the Largest in the U.S.
Comstock Inc. (NYSE: LODE) (“Comstock,” “our,” and the “Company”), today announced that on August 15, 2025, immediately following the Company’s previously announced successful public equity offering, that it had immediately placed all of the purchase orders and paid deposits totaling $5.1 million toward the purchase of all of the equipment for its 100,000 ton per year, certified zero-landfill industry-scale solar panel recycling facility to be located in Silver Springs, Nevada. The total purchase price for all the equipment is approximately $10.5 million. The Company also plans on spending an additional $1.5 million for expanded storage capacity, utility upgrades and commissioning of the facility.
“Our equity offering represented a remarkably broad and deep representation of some of the best institutional investors with proceeds dedicated to funding the capital expenditures for our first industry-scale facility, the operating expenses required to reach sustained profitability and the extinguishment of debt and other obligations. Our balance sheet has never been stronger as we are now rapidly deploying our industry leading technology and customer solutions,” stated Corrado De Gasperis, Executive Chairman and CEO of Comstock Inc. “The recycling growth opportunities have developed better and faster than our original plans, and we have now attracted some of the most sophisticated partners for investment, feedstock, operations, and offtake.”
Comstock Metals has now been operating its first commercial demonstration facility for over 18 months and in November of 2024, submitted permits for the first industry-scale photovoltaic recycling facility. Comstock Metals’ billable revenues are expected to be eight times greater in 2025, as compared to 2024, or currently projected to be over $3.5 million, with proportionate future increases in 2026, as we scale up our first industry-scale facility.
The Company's solar panel recycling objectives for the next 10 months include:
- Expand and activate local county storage capacity adjacent to our first industry-scale facility;
- Complete permitting for our first industry-scale facility in Silver Springs, NV, by November 2025;
- Secure additional Master Service Agreements (MSA) with national and regional customers;
- Complete site selection and permit submissions for two additional solar panel recycling locations;
- Expand our system globally with strategic and/or international partners;
- Procure, deploy, and assemble plant and equipment for our first industry-scale facility during Q4 2025;
- Commission the industry-scale facility during Q1 2026;
- Continuously operate the zero-landfill industry-scale solar panel recycling facility during Q2 2026; and
- Advance and expand R&D efforts to recover more and higher-purity materials from recycled streams for offtake.
“For the remainder of 2025, we plan on accelerating and increasing our lead as our solar panel recycling systems rapidly expand market share nationally while we await our final permits and the delivery of our high-speed, continuous processing system,” said Comstock Metals’ President, Dr. Fortunato Villamagna. “With our system, every component of an end-of-life solar panel (glass, aluminum, semiconductor fines, and other metals) is fully and cleanly reclaimed and repurposed into new, salable raw materials.”
About Comstock Inc.
Comstock Inc. (NYSE: LODE) innovates and commercializes technologies that enable, support and sustain clean energy systems across entire industries by efficiently, effectively, and expediently extracting and converting under-utilized natural resources into reusable electrification metals, like silver, aluminum, copper, and other critical minerals from end-of-life photovoltaics.
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.
No comments:
Post a Comment