Greenwave Technology Solutions, Inc. Wins Exclusive Government Contract for Metal Recycling Valued at Approximately $2 Million
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) ha ottenuto un contratto esclusivo con il governo per riciclare 550.000 libbre di metallo non ferroso, con un fatturato stimato di circa 2 milioni di dollari previsto per il quarto trimestre del 2024 e il primo trimestre del 2025. L'azienda gestisce 13 impianti di riciclaggio di metalli in Virginia, Carolina del Nord e Ohio, con tre hub specializzati per il trattamento di metalli ferrosi e non ferrosi.
I vantaggi strategici dell'azienda includono ampie licenze operative, recenti acquisizioni immobiliari in posizioni chiave e collaborazioni con comuni per vari progetti di riciclo. Situata vicino alla Naval Station Norfolk e al Porto della Virginia, Greenwave beneficia dell'accesso a metalli di scarto provenienti da appaltatori della difesa, cantieri navali e operazioni logistiche.
Greenwave Technology Solutions (Nasdaq: GWAV) ha obtenido un contrato gubernamental exclusivo para reciclar 550,000 libras de metal no ferroso, con ingresos estimados de aproximadamente 2 millones de dólares durante el cuarto trimestre de 2024 y el primer trimestre de 2025. La empresa opera 13 instalaciones de reciclaje de metales en Virginia, Carolina del Norte y Ohio, con tres centros especializados en el procesamiento de metales ferrosos y no ferrosos.
Las ventajas estratégicas de la empresa incluyen amplios permisos operativos, adquisiciones inmobiliarias recientes en ubicaciones clave y asociaciones con municipalidades para diversos proyectos de reciclaje. Ubicada cerca de la Naval Station Norfolk y el Puerto de Virginia, Greenwave se beneficia del acceso a metal chatarra de contratistas de defensa, astilleros y operaciones logísticas.
그린웨이브 테크놀로지 솔루션스 (Nasdaq: GWAV)는 550,000파운드의 비철금속을 재활용하기 위한 독점 정부 계약을 체결하였으며, 2024년 4분기와 2025년 1분기에 약 200만 달러의 수익을 발생할 것으로 예상됩니다. 이 회사는 버지니아, 노스캐롤라이나, 오하이오에 13개의 금속 재활용 시설을 운영하고 있으며, 철금속과 비철금속 처리를 위한 세 개의 전문 허브가 있습니다.
회사의 전략적 이점으로는 광범위한 운영 면허, 주요 위치에서의 최근 부동산 인수 및 다양한 재활용 프로젝트를 위한 지방 자치 단체와의 파트너십 등이 있습니다. 그린웨이브는 노퍽 해군 기지 및 버지니아 항구 근처에 위치하여 방위 계약자, 조선소 및 물류 작업으로부터 스크랩 금속에 접근할 수 있는 이점을 누리고 있습니다.
Greenwave Technology Solutions (Nasdaq: GWAV) a obtenu un contrat gouvernemental exclusif pour recycler 550 000 livres de métaux non ferreux, ce qui devrait générer environ 2 millions de dollars de chiffre d'affaires durant le T4 2024 et le T1 2025. L'entreprise gère 13 installations de recyclage de métaux en Virginie, en Caroline du Nord et dans l'Ohio, avec trois hubs spécialisés pour le traitement des métaux ferreux et non ferreux.
Les avantages stratégiques de l'entreprise incluent de nombreuses licences opérationnelles, des acquisitions immobilières récentes dans des emplacements clés et des partenariats avec des municipalités pour divers projets de recyclage. Située près de la Naval Station Norfolk et du Port de Virginie, Greenwave bénéficie d'un accès aux métaux de rebut provenant de contractants de la défense, de chantiers navals et d'opérations logistiques.
Greenwave Technology Solutions (Nasdaq: GWAV) hat einen exklusiven Regierungsauftrag zur Wiederverwertung von 550.000 Pfund Nichteisenmetall gesichert, was voraussichtlich etwa 2 Millionen Dollar Umsatz im vierten Quartal 2024 und im ersten Quartal 2025 generieren wird. Das Unternehmen betreibt 13 Metallrecyclinganlagen in Virginia, North Carolina und Ohio, einschließlich dreier spezialisierter Zentren für die Verarbeitung von Eisen- und Nichteisenmetallen.
Die strategischen Vorteile des Unternehmens umfassen umfangreiche Betriebslizenzen, kürzliche Immobilienkäufe an wichtigen Standorten und Partnerschaften mit Gemeinden für verschiedene Recyclingprojekte. In der Nähe der Naval Station Norfolk und des Hafens von Virginia gelegen, profitiert Greenwave von dem Zugang zu Schrottmetallen von Verteidigungsauftragnehmern, Werften und Logistikbetrieben.
- Secured exclusive government contract worth $2 million
- Operates 13 metal recycling facilities across three states
- Strategic location near Naval Station Norfolk providing steady supply
- Recent acquisition of key facility real estate in multiple locations
- Strong barriers to entry through robust portfolio of operational licenses
- None.
Insights
This
The contract solidifies Greenwave's position in the government sector, a important market segment with high barriers to entry and stable revenue streams. Their strategic footprint across three states, combined with robust licensing requirements, creates significant competitive moats. The company's focus on infrastructure projects and military-related operations suggests potential for additional contract wins. The timing is opportune given the increasing emphasis on domestic metal recycling and sustainable practices. The real estate portfolio expansion also adds tangible asset value, potentially improving the company's balance sheet and financing capabilities.
Greenwave to recycle 550,000 pounds of non-ferrous metal, estimated to increase Q4 2024 and Q1 2025 revenues by approximately
Leveraging municipal, state, and federal agreements further establishes Greenwave's leadership in metal recycling
Key Competitive Advantages:
- Extensive Footprint: Greenwave operates a footprint of 13 metal recycling facilities with significant market share, including three hubs – with two focused on processing ferrous metal and one on non-ferrous metal.
- Barriers to Entry: A robust portfolio of operational licenses, safeguarded by municipal regulations, ensures limited competition in this highly regulated market.
- Real Estate Investment: The recent acquisition of key facility real estate in
Carrollton ,Virginia Beach ,Toano , along with four others, fortifies Greenwave's position and prepares the Company for future strategic transactions.
Strategic Growth Trajectory:
Greenwave continues to prioritize government contracts as a cornerstone of its growth strategy, leveraging key relationships across municipal and federal sectors. Notable initiatives include:
- Partnerships for large-scale infrastructure projects such as the Hampton Roads Bridge Tunnel expansion.
- Agreements with numerous municipalities for recycling abandoned vehicles.
- Contracts supporting
U.S. Federal Government operations.
Located near Naval Station Norfolk, the world's largest naval base, and the Port of
Greenwave's Vision:
With unmatched market positioning, a robust contract pipeline, and proximity to key supply chains, Greenwave is poised for long-term, sustainable growth and value creation for its stakeholders.
About Greenwave – One of the Mid Atlantic's Leading Metal Recyclers
As an operator of 13 metal recycling facilities, Greenwave Technology Solutions, Inc. (Nasdaq: GWAV) supplies leading steel mills and industrial conglomerates with ferrous and non-ferrous metal. With steel being one of the most recycled materials worldwide, Greenwave supplies the raw metal utilized in critical infrastructure projects and
For detailed financials and updates, visit www.GWAV.com.
Forward-looking Statements
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These include, without limitation, statements about its revenue growth, opening of additional locations, margin expansion and cashflow projections. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although the Company believes that its plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, the Company can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond the Company's control), assumptions and other factors that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results may differ materially from those in the forward-looking statements and the trading price for the Company's common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company's filings with the SEC. Except as required by law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
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SOURCE Greenwave Technology Solutions
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