Comstock Metals announced the launch of a new satellite storage and preparation hub in California’s Central Valley on January 12, 2026. The facility will collect, consolidate, and pre‑process end‑of‑life solar panels from commercial, utility‑scale, and other approved sources before shipping them to the company’s Nevada recycling plant for closed‑loop recovery of critical metals.
California is the largest single U.S. market for photovoltaic waste, and the new hub is strategically positioned to reduce transportation costs, streamline logistics, and accelerate the flow of panels into Comstock’s zero‑landfill recycling process. By creating a dedicated regional node, the company can serve California developers, utilities, installers, and asset owners more efficiently, strengthening its service network and competitive advantage in a rapidly growing market.
Financially, Comstock has posted a 49% year‑over‑year revenue increase, but its gross profit margin remains modest at 10.84%. The company’s cash balance stood at $31.7 million at the end of Q3 2025, and its Nevada facility—capable of processing 100,000 tons of waste annually—has received final permits and is slated to commission in Q1 2026. The California hub is expected to feed a significant portion of that capacity, positioning Comstock to capture a larger share of the projected 33 million‑panel end‑of‑life market by 2030.
Shares of Comstock rose 5.6% in pre‑market trading on the day of the announcement, reflecting investor confidence in the expansion and the company’s broader zero‑landfill strategy. The market reaction underscores the perceived value of gaining a foothold in California’s dominant solar‑waste market.
Executive Chairman and CEO Corrado De Gasperis said the new facility “sets the global standard in solar panel recycling by creating a scalable, reliable, efficient, and optimized network of decommissioning, collecting, aggregating, storing, and full‑recovery processing nodes designed for speed and scale.” President Dr. Fortunato Villamagna added that the hub “directly supports California’s clean‑energy leadership while ensuring materials are transported efficiently to our specialized Nevada operations.”
While the expansion offers clear tailwinds—California’s 49,000 MW installed capacity and growing curtailment challenges—Comstock faces headwinds such as regulatory approvals, competition from other recyclers, and the capital intensity of building new infrastructure. Nonetheless, the company’s focus on a zero‑landfill model and its growing cash position provide a foundation to navigate these challenges and capitalize on the expanding solar‑panel‑recycling market.
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