Comstock Metals Receives Solar Panel Processing Permit
Commences Material Recovery Facility Commissioning
VIRGINIA CITY, Nev., Feb. 14, 2024 (GLOBE NEWSWIRE) -- Comstock Inc. (NYSE: LODE) (“Comstock” or the “Company”) announced today that Comstock Metals Corporation (“Comstock Metals”) has received conditional approval from the Nevada Division of Environmental Protection - Bureau of Sustainable Materials Management (NDEP-BSMM) for the processing of waste solar panels and photovoltaics in its new materials recovery facility located in Silver Springs, NV. Comstock Metals has now received all the required permits to complete the installation of the process equipment, and to test, commission and startup the material recovery facility. This facility includes technologies for efficiently crushing, conditioning, extracting, and recycling metal concentrates from photovoltaics. Comstock Metals has also begun accepting receipt of materials for processing and is securing supplier commitments on an ongoing basis.
The world remains focused on the production of sustainable energy generation and storage technologies to reduce reliance on fossil fuels. While resource scarcity and material supply are the main drivers presented when evaluating metal recycling options, what is often missed is that end-of-life solutions for decommissioned solar panels causes significant pollution if simply landfilled with no recoveries.
“We appreciate BSMM’s efforts in issuing our final permit and enabling the first Nevada-based, zero-landfill, end-of-life solar panel solution serving this broad region,” said Dr. Fortunato Villamagna, President of Comstock Metals Corporation. “We have begun receiving waste panels into our facility and have commenced commissioning activities. We are seeing larger than initially expected customer inquiries as waste panels are becoming rapidly available from many different sources and accelerating our ramp up efforts.”
Most of the U.S. solar panels have been deployed in the southwestern U.S., primarily California, Arizona, and Nevada, with decommissioning of these solar panels occurring now, accelerating supply and increasing the demand for environmentally responsible end-of-life solutions. Comstock has positioned itself to ensure the safe deconstruction and productive reuse of these important materials.
Comstock Metals is expanding its existing revenue generating supply commitments and has now begun the design and site selection for its first “industry-scale” production facility while also accelerating the assessment of additional storage and processing sites.
“We have quickly established a leadership position in this readily available, and rapidly growing photovoltaic market,” stated Corrado De Gasperis, Comstock’s Executive Chairman and CEO. “Our metals team is already assessing additional sites, as we look to capitalize on our lead in this rapidly growing solar market. Comstock Metals is the leading zero-landfill, end-of-life solution for solar panels.”
About Comstock Inc.
Comstock (NYSE: LODE) commercializes technologies that enable systemic decarbonization and accelerate the energy transition by efficiently converting under-utilized natural resources into renewable energy products, and by leveraging physics based artificial intelligence for more efficient and effective mineral and materials discovery. To learn more, please visit www.comstock.inc.
About Comstock Metals
Comstock Metals provides technology-driven, reliable, efficient, and cost-effective electrification component recycling and raw material recovery. The Company is focused on providing economically viable and environmentally sustainable recycling services for solar photovoltaic panels as a scalable solution for industry and for communities that results in zero landfill waste. Comstock Metals is a subsidiary of Comstock Inc. To learn more, please visit www.comstockmetals.com.
Contact Information:
For investor inquiries, contact:
RB Milestone Group
Tel (203) 487-2759
ir@comstockinc.com
For media inquiries or questions, contact:
Zach Spencer, Comstock Inc.
Tel (775) 847-7532
questions@comstockinc.com
Source: Comstock Inc.
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