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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 (GWAV) is accelerating its rare-earth metal recovery operations in response to China's December 2024 ban on exporting gallium, germanium, and antimony to the US. The company, operating 13 metal recycling facilities across Virginia, North Carolina, and Ohio, expects significant revenue growth in FY 2025 through efficient extraction of these minerals from vehicles, appliances, and machinery.
The company views this initiative as a 'catalytic converter-level' opportunity, leveraging breakthrough technologies to recover previously overlooked high-value metals. GWAV's strategic location near Naval Station Norfolk and the Port of Virginia provides access to high-quality scrap metal from defense contractors and shipyards. The company focuses on recovering antimony for battery alloys, germanium for semiconductors, and gallium for renewable energy applications.
Greenwave Technology Solutions (GWAV) reports significant financial improvements in 2024, including a 635% increase in current assets and a 64% decrease in total liabilities. The company has secured multiple government contracts, including a $15-$35 million contract with Core Tree Care through March 2026. Insiders purchased over 500,000 GWAV shares in December 2024, demonstrating confidence in the company's future.
Operating 13 metal recycling facilities across Virginia, North Carolina, and Ohio, Greenwave recently acquired real estate for seven core facilities, reducing annual rent expenses by $1.7 million. The company is strategically positioned to benefit from Nucor 's upcoming Lexington facility opening in 2025, which will have a 430,000-ton annual processing capacity.
Greenwave Technology Solutions (Nasdaq: GWAV) has secured an exclusive government contract to recycle 550,000 pounds of non-ferrous metal, expected to generate approximately $2 million in revenue during Q4 2024 and Q1 2025. The company operates 13 metal recycling facilities across Virginia, North Carolina, and Ohio, with three specialized hubs for ferrous and non-ferrous metal processing.
The company's strategic advantages include extensive operational licenses, recent real estate acquisitions in key locations, and partnerships with municipalities for various recycling projects. Located near Naval Station Norfolk and the Port of Virginia, Greenwave benefits from access to scrap metal from defense contractors, shipyards, and logistics operations.
Greenwave Technology Solutions (Nasdaq: GWAV) has secured a contract with Core Tree Care, Inc. valued at $15-$35 million for Hurricane Helene recovery services. The contract, related to an Army Corps of Engineers prime contract, involves tree removal and processing in counties near Asheville, North Carolina. The company is operating advanced equipment including Vermeer and Morbark Wood Grinders valued at $1.4 million each.
This represents a new revenue stream for Greenwave, expanding from its core metal recycling business. The company operates 13 metal recycling facilities across Virginia, North Carolina, and Ohio, with 167 employees. The contract is expected to generate significant revenue and healthy free cashflow by March 31, 2026.
Greenwave Technology Solutions (Nasdaq: GWAV), a metal recycling leader operating 13 facilities across Virginia, North Carolina, and Ohio, has announced strategic developments in the consolidating scrap metal market. The company has achieved $1.7 million in annual cost savings through real estate acquisitions of seven core facilities.
The company reported revenues from Sims Metal of $20.7 million in 2023 and $18.0 million in 2022. With 167 employees, Greenwave supplies ferrous and non-ferrous metal to major steel mills and industrial conglomerates. The announcement highlights recent industry acquisitions, including Sims Metal's $220 million purchase of Baltimore Scrap Corp., demonstrating significant consolidation in the sector.
Greenwave Technology Solutions (Nasdaq: GWAV), a metal recycling leader operating across Virginia, North Carolina, and Ohio, is strategically positioned to benefit from Nucor 's new Lexington steelmaking facility opening in 2025. The facility will process 430,000 tons annually using nearly 100% recycled materials.
Operating 13 metal recycling facilities and employing 167 people, Greenwave supplies critical recycled metals to major steel mills. The company projects domestic sales to reach 75% of revenue in 2025, up from 41% in previous years, driven by anticipated trade policies and infrastructure investments in the South Atlantic Region.
Greenwave currently supplies Nucor's Hertford mill with steel used in bridges, heavy equipment, and military vessels, including components for the $13 billion USS Gerald Ford aircraft carrier.
Greenwave Technology Solutions (Nasdaq: GWAV) has acquired real estate for seven of its core metal recycling facilities from CEO Danny Meeks, reducing annual rent expenses by $1.7 million. The company operates 13 facilities across Virginia, North Carolina, and Ohio, with 167 employees. Key strategic assets include exclusive operational licenses in Norfolk, Virginia Beach, and Portsmouth, protected by grandfathered municipal codes. The Norfolk facility, near the largest U.S. Naval Base, holds one of the city's few VMV automotive recycler licenses, while the Virginia Beach location is the city's only metal recycling facility.
Greenwave Technology Solutions (Nasdaq: GWAV), a metal recycling operator in Virginia, North Carolina, and Ohio, anticipates that U.S. tariffs on steel imports will drive revenue growth and margin expansion in FY 2025. The company bases this expectation on its 20+ years of industry experience, noting significant benefits to U.S. scrap metal recyclers during the previous Trump administration when tariffs increased domestic recycled metal prices. Greenwave supplies mill-ready shred to major companies including Nucor , Cleveland-Cliffs, and Sims subsidiaries, sourcing from hundreds of corporations, municipalities, and individuals across their operating regions.
Investorideas.com has released the second part of its series on the expanding metals recycling industry, highlighting the increasing interest from large mining firms. Greenwave Technology Solutions (NASDAQ: GWAV) has strengthened its infrastructure, anticipating record revenues exceeding $40 million in 2024, driven by its facilities in Cleveland, OH, and Virginia Beach, VA. The company has completed a multi-year capex cycle, investing over $15 million in infrastructure, including a new automotive shredder expected to double its ferrous metal output and enhance revenue by 25-30%. Major mining companies like Anglo American, Rio Tinto, and Glencore are entering the recycling sector, with notable investments in projects like Lifezone Metals' Kabanga Nickel Project. The global market for recycled metals is expected to grow significantly, driven by increasing demand for sustainable practices and regulatory requirements.
On June 18, 2024, Investorideas.com highlighted Greenwave Technology Solutions (NASDAQ: GWAV) in the metal recycling market. The sector is booming due to rising e-waste from consumer electronics. The market is projected to grow from USD 551.9 billion in 2024 to USD 767.9 billion by 2029. Greenwave completed its recapitalization, strengthening its balance sheet by $80.5 million and attracting $45.3 million in new capital since March. The company aims to generate over $40 million in revenue for 2024 and has a current cash balance of $26 million, the highest in its history. Greenwave plans to expand operations, launch a second shredder this summer, and grow its ScrapApp.com platform nationwide. They are also considering acquisitions and strategic partnerships to bolster growth.
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