Comstock Metals Secures Multiple New Revenue Contracts

Comstock Metals currently operates a commercial, demonstration facility in Silver Springs, NV.

SEATTLE (Scrap Monster): 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 additional revenues from two commercial companies that have engaged Comstock Metals for the decommissioning and disposal of end-of-life solar panels.

Comstock Metals strives to efficiently and effectively recycle materials 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.

'We recognized our first in-take revenues from the receipt and processing of end-of-life solar panels and our first off-take revenues from reprocessed and shipped materials, such as recycled aluminum,” stated Corrado De Gasperis, Executive Chairman and CEO of Comstock Inc. “Now, our team is engaged with various, 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.

“Frankly, this was an unanticipated request from our continuously evolving customer base, to which we were able to quickly respond, address, organize, and successfully provide,” added Dr. Fortunato Villamagna, President of Comstock Metals. “The result has been the rapid and successful completion of several deinstallations, with several other deinstallation projects that are currently under negotiation and/or under bid. These services meet an important and growing market need and act as a tremendous feeder for the recycling services that we provide.”

Comstock Metals has now received materials from new, nationally recognizable customers where we 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.

“As we expand our market presence, we have increased our relationships, our longer terms agreements and even the services that we can provide to ensure that we keep these materials out of our landfills and eco-systems,” said Dr. Villamagna. He concluded, “We are now expanding decommissioning services with additional, potential large-scale customers for high-volume, longer-term, revenue-generating supply commitments.”

Courtesy: www.finance.yahoo.com

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