Significant Revenue Growth in Comstock Metals
Comstock Metals revenue soared in the first quarter with over 4 million pounds of recyclable material received and $1.34 million invoiced compared to just over $350,000 last quarter, marking nearly a four-fold increase.
Strategic Partnerships and Investments
Comstock has attracted Keen and Aligned Capital into its shareholder base and engaged sophisticated industry partners such as NREL, Marathon, and RWE. The company completed two successful settlements of prior outstanding commitments, eliminating significant upcoming cash payments and recording a $1 million financial gain.
R&D and Innovations
R&D expenses increased by $2.4 million in Q1, with significant collaboration with the National Renewable Energy Lab (NREL) aiming to improve yields and reduce costs. The company hired Dr. Elvis Ebikade, a notable addition to the biofuels team, to lead SAF initiatives.
Master Services Agreement with RWE
Comstock Metals entered into a master services agreement with RWE Clean Energy for recycling and decommissioning services, establishing an industry standard for solar panel end-of-life solutions.
R2 Certification for Metals
Comstock Metals received R2 Certification, becoming the only company in North America with a certified zero-landfill solution for solar panel recycling.