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Greenwave Technology Solutions, Inc. (Nasdaq: GWAV) is a leading operator of metal recycling facilities located in Virginia, North Carolina, and Ohio. Through its wholly-owned subsidiary, Empire Services, Inc., Greenwave manages 13 metal recycling facilities that specialize in collecting, classifying, and processing raw scrap metal, including both ferrous and nonferrous varieties. The company engages in converting scrap into valuable resources like steel, aluminum, copper, nickel, and more, catering to a broad customer base comprising large corporations, industrial manufacturers, retail customers, and government organizations.
Greenwave employs advanced technologies to maximize efficiency and processing capabilities. Notably, the company utilizes a downstream recovery system and a cloud-based ERP system to streamline operations and boost output. These innovations have enabled Greenwave to achieve higher processing volumes and operational efficiencies.
Recently, Greenwave announced the connection of its second automotive shredder to the power grid, a move expected to double its annual shredded ferrous output and increase revenue by approximately 25-30%. This expansion aligns with Greenwave's hub-and-spoke strategy, positioning the company as an attractive target for major scrap metal conglomerates.
The company's financial health has improved significantly, with recent moves including the conversion of substantial debt to equity and securing waivers from senior secured note holders. These actions have bolstered Greenwave's balance sheet, setting the stage for future growth and expansion. In May 2024, the company announced a reverse stock split to regain compliance with Nasdaq listing requirements.
Greenwave is committed to environmental sustainability, emphasizing the recycling of steel, one of the world's most recycled materials. This practice reduces energy consumption, lowers CO2 emissions, minimizes waste, and conserves natural resources. The company’s goal is to further expand by acquiring independent, profitable scrap yards and increasing its footprint in the metal recycling industry.
For more detailed information about Greenwave Technology Solutions, Inc. and its latest developments, please visit www.GWAV.com.
Greenwave Technology Solutions (NASDAQ: GWAV) has selected GreenSpark as its core operating system to enhance operational efficiency and drive growth. GreenSpark, an AI-powered platform backed by BMW i Ventures, will be implemented across Greenwave's operations in early March 2025.
The platform, which has seen its customer base grow over 300% in the past year, has secured approximately $25 million in funding from investors including BMW i Ventures, Zero Infinity Partners, Third Prime, Bienville Capital, and Tiger Global. GreenSpark currently serves 500+ scrap yard locations and is expected to contribute to Greenwave's revenue and margin growth starting March 2025.
Greenwave, a leading scrap metal recycling chain supplying to industry giants like Nucor, Sims Metal, Cleveland-Cliffs, and Georgia-Pacific, has raised its 2025 revenue outlook to $47-$50 million. The company aims to leverage GreenSpark's AI capabilities to capture market share in the multi-billion-dollar scrap metal industry.
Greenwave Technology Solutions (NASDAQ: GWAV) has announced strong financial positioning with approximately $10 million in cash and $7 million in current inventories. The company recently raised its FY 2025 revenue guidance to $47-$50 million, driven by anticipated metal tariffs and growing domestic demand.
The company secured several key contracts, including an exclusive agreement for recycling 550,000 pounds of non-ferrous metal (estimated $2 million revenue boost in Q4 2024/Q1 2025) and a contract with Virginia Beach expected to generate over $500,000 initially. Greenwave's strategic position near Naval Station Norfolk and the Port of Virginia provides access to prime scrap metal sources.
The company expects significant growth from Nucor's new 430,000-ton Lexington facility opening in 2025, which will use 99% recycled inputs. Greenwave's acquisition of seven core facilities is reducing rent by $1.7M annually, while its portfolio of grandfathered operational licenses creates substantial barriers to entry in regulated markets.
Greenwave Technology Solutions (NASDAQ: GWAV) has announced a significant business update, highlighting its position as a major supplier of domestically-sourced recycled metals to industry leaders including Nucor, Sims Metal, Cleveland-Cliffs, and Georgia-Pacific. The company has raised its revenue guidance for Fiscal Year 2025 to $47-50 Million.
As one of the Mid-Atlantic's dominant suppliers of mill-ready shred and recycled metals, Greenwave operates strategically in Virginia, North Carolina, and Ohio. The company expects to benefit from potential upcoming copper tariffs, with higher tariffs potentially generating more revenue. The company's CEO, Danny Meeks, recently participated in a BNN Bloomberg interview discussing these developments.
Greenwave Technology Solutions (NASDAQ: GWAV) announced that Chairman and CEO Danny Meeks will be interviewed on BNN Bloomberg at 3:05pm EST today. The interview will focus on the impact of President Trump's recently announced 25% steel and aluminum tariffs on U.S. scrap metal demand and prices.
As a leading Mid-Atlantic supplier of mill-ready shred and recycled metals, Greenwave expects increased demand and wider profit margins throughout fiscal year 2025. The company's strategic locations in Virginia, North Carolina, and Ohio position it advantageously as the U.S. steel and metals industry shifts toward domestic sourcing.
Greenwave Technology Solutions (NASDAQ: GWAV) has received coverage from S&P Global Commodity Insights. The company recently updated its revenue guidance for FY 2025 to $47-50 million. Greenwave serves major industrial clients including Nucor, Sims Metal Management, Cleveland-Cliffs, and Georgia-Pacific. The company plans to focus on rare earth metals recovery in FY 2025 and currently provides U.S. manufacturers with 100% domestically-sourced copper, which could become more significant with expected tariffs on imported copper.
Greenwave Technology Solutions (NASDAQ: GWAV) is preparing for significant demand increases following the announcement of 25% tariffs on steel and aluminum imports without exceptions or exemptions. The company, which provides 100% domestically-sourced scrap metal products to major customers including Nucor and Cleveland-Cliffs, has reported surging prices for domestic scrap metal in February 2025.
Key highlights include: raised revenue guidance to $47-50 million for FY 2025, market value of current inventories exceeding $6 million, and a fleet of 50+ trucks. The company has acquired real estate for seven core facilities, reducing annual rent expenses by $1.7 million. Greenwave has completed a $20 million capex cycle and expanded its AI-powered Scrap App platform. Company insiders made significant stock purchases at $0.66/share in December 2024.
Greenwave Technology Solutions (NASDAQ: GWAV) announced its scrap metal inventories have surpassed $6 million in current market value, positioning the company to benefit from surging metal prices and increasing demand. The company has been strategically accumulating high-value steel, aluminum, and copper in anticipation of higher tariffs on imported metals.
The company operates with a fleet of over 50 trucks and receives same-day payments from customers. Greenwave holds exclusive operational licenses for its metal recycling facilities in Norfolk, Virginia Beach, and Portsmouth, VA, creating significant barriers to entry. The company recently completed a multi-year capital expenditure cycle with over $20 million invested in equipment, infrastructure, and its truck fleet. Additionally, Greenwave acquired real estate for seven core facilities, reducing annual rent expenses by approximately $1.7 million.
Greenwave Technology Solutions (NASDAQ: GWAV) announced that its AI-powered car buying platform, Scrap App, has been adopted by one of the largest U.S. junk car buyers, enabling expansion into 27 new markets. The platform has already expanded into Charlotte, Winston-Salem, and Columbia, SC, adding to its five existing markets.
The company deployed its proprietary AI Operator on January 27, 2025, which provides real-time quotes, automated scheduling, and autonomous customer interactions. Developed for approximately $20,000, the AI system is expected to generate hundreds of thousands in annual cost savings and improve profit margins.
Scrap App set a new weekly record in both number of cars and revenue from January 26 to February 1, 2025. The company aims to become the leading platform in the $32 billion auto recycling industry, where a major competitor reported $130.7 million in FY 2024 revenue.
Greenwave Technology Solutions (NASDAQ: GWAV) has raised its revenue guidance for FY 2025 to $47-$50 million following the announcement of new tariffs on metal imports. The company expects a 10-20% revenue growth on metal products with 40-45% gross profit margins.
As a leading metal recycling company, Greenwave supplies 100% domestically-sourced steel, aluminum, copper, and rare-earth metals to major industry players. The company is currently engaged in active negotiations with multiple entities interested in accessing its high-volume flow of mill-ready metals.
Greenwave Technology Solutions (NASDAQ: GWAV) is positioned for significant revenue growth following President Trump's January 31, 2025 announcement of new tariffs on steel, aluminum, and copper imports. The company, a leading metal recycling firm operating in Virginia, North Carolina, and Ohio, expects these trade measures to drive up prices for domestically sourced metals.
As a major Mid-Atlantic supplier of mill-ready shred and recycled metals with a 40-45% gross profit margin, Greenwave serves subsidiaries of industry giants including Nucor , Cleveland-Cliffs, Sims , and Georgia-Pacific. The company sources materials from corporations, municipalities, and individuals, positioning itself to benefit from increasing domestic metals demand under the new protectionist measures.
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