Greenwave Technology Solutions, Inc. Wins Exclusive Municipal Contract with Virginia Beach
Greenwave Technology Solutions (Nasdaq: GWAV) has secured an exclusive contract with Virginia Beach for scrap metal recycling services. The contract, estimated to generate over $500,000 in revenues, positions Greenwave as the sole provider in Virginia's largest city. Based on 2023 data, the city generated 800 tons of ferrous metal and 179,000 pounds of non-ferrous scrap metal.
The company operates 13 metal recycling facilities across Virginia, North Carolina, and Ohio, employing 167 people. Greenwave's strategic location near Naval Station Norfolk and the Port of Virginia provides access to scrap metal from defense contractors, shipyards, and logistics operations. Recent real estate acquisitions in Carrollton, Virginia Beach, and Toano strengthen the company's market position.
Greenwave Technology Solutions (Nasdaq: GWAV) ha ottenuto un contratto esclusivo con Virginia Beach per servizi di riciclaggio di metallo rotto. Si prevede che il contratto generi oltre $500,000 di entrate, posizionando Greenwave come fornitore unico nella città più grande della Virginia. Secondo i dati del 2023, la città ha generato 800 tonnellate di metallo ferroso e 179,000 libbre di metallo non ferroso di scarto.
L'azienda gestisce 13 impianti di riciclaggio di metallo in Virginia, Carolina del Nord e Ohio, impiegando 167 persone. La posizione strategica vicino alla Naval Station Norfolk e al Port of Virginia consente l'accesso ai metalli di scarto da appaltatori della difesa, cantieri navali e operazioni logistiche. Recenti acquisizioni immobiliari a Carrollton, Virginia Beach e Toano rafforzano la posizione sul mercato dell'azienda.
Greenwave Technology Solutions (Nasdaq: GWAV) ha conseguido un contrato exclusivo con Virginia Beach para servicios de reciclaje de metales. Se estima que el contrato generará más de $500,000 en ingresos, posicionando a Greenwave como el único proveedor en la ciudad más grande de Virginia. Según datos de 2023, la ciudad generó 800 toneladas de metal ferroso y 179,000 libras de chatarra no ferrosa.
La empresa opera 13 instalaciones de reciclaje de metales en Virginia, Carolina del Norte y Ohio, empleando a 167 personas. La ubicación estratégica cerca de la Naval Station Norfolk y el Puerto de Virginia proporciona acceso a chatarra de contratistas de defensa, astilleros y operaciones logísticas. Recientes adquisiciones inmobiliarias en Carrollton, Virginia Beach y Toano fortalecen la posición de mercado de la empresa.
그린웨이브 테크놀로지 솔루션(나스닥: GWAV)는 버지니아 비치에서 스크랩 금속 재활용 서비스에 대한 독점 계약을 체결했습니다. 이 계약은 $500,000 이상의 수익을 창출할 것으로 예상되며, 버지니아에서 가장 큰 도시의 유일한 공급자로 그린웨이브를 위치시킵니다. 2023년 데이터에 따르면, 이 도시는 800톤의 철금속과 179,000파운드의 비철금속 스크랩을 생성했습니다.
회사는 버지니아, 노스캐롤라이나, 오하이오에 걸쳐 13개의 금속 재활용 시설을 운영하며, 167명을 고용하고 있습니다. 노퍽 해군기지와 버지니아 항구 근처의 전략적 위치는 방위 계약자, 조선소 및 물류 작업에서 스크랩 금속에 접근할 수 있게 합니다. 최근 캐롤튼, 버지니아 비치, 토아노의 부동산 인수는 회사의 시장 위치를 강화합니다.
Greenwave Technology Solutions (Nasdaq: GWAV) a obtenu un contrat exclusif avec Virginia Beach pour des services de recyclage de métaux usagés. Le contrat, estimé à générer plus de $500,000 de revenus, positionne Greenwave comme le seul fournisseur dans la plus grande ville de Virginie. Selon les données de 2023, la ville a généré 800 tonnes de métal ferreux et 179,000 livres de métal non ferreux récupéré.
La société exploite 13 installations de recyclage de métaux en Virginie, en Caroline du Nord et dans l'Ohio, employant 167 personnes. L'emplacement stratégique près de la Naval Station Norfolk et du Port de Virginie fournit un accès aux métaux usagés provenant d'entrepreneurs de défense, de chantiers navals et d'opérations logistiques. Des acquisitions immobilières récentes à Carrollton, Virginia Beach et Toano renforcent la position sur le marché de l'entreprise.
Greenwave Technology Solutions (Nasdaq: GWAV) hat einen exklusiven Vertrag mit Virginia Beach für Recyclingdienstleistungen für Schrottmetall gesichert. Der Vertrag wird voraussichtlich über $500,000 an Einnahmen generieren und positioniert Greenwave als den alleinigen Anbieter in der größten Stadt Virginias. Basierend auf Daten aus 2023 erzeugte die Stadt 800 Tonnen Eisenmetall und 179,000 Pfund Nichteisenmetallschrott.
Das Unternehmen betreibt 13 Recyclinganlagen für Metalle in Virginia, North Carolina und Ohio und beschäftigt 167 Mitarbeiter. Die strategische Lage in der Nähe der Naval Station Norfolk und des Port of Virginia ermöglicht den Zugang zu Schrottmetall von Verteidigungsauftragnehmern, Werften und Logistikbetrieben. Jüngste Immobilienkäufe in Carrollton, Virginia Beach und Toano stärken die Marktposition des Unternehmens.
- Secured exclusive municipal contract worth $500,000 in Virginia Beach
- Strategic location near major naval bases and industrial hubs
- Operating 13 metal recycling facilities across three states
- Recent real estate acquisitions strengthening market position
- Established partnerships for infrastructure projects and government contracts
- None.
Insights
The Virginia Beach municipal contract represents a strategic win for Greenwave Technology Solutions, securing an estimated
The exclusive nature of this agreement creates several strategic advantages:
- Guaranteed minimum volume commitments (800 tons ferrous, 179,000 pounds non-ferrous) provide predictable revenue streams and operational planning stability
- Strategic positioning near Naval Station Norfolk and the Port of Virginia enables efficient logistics and potential contract expansion opportunities
- Regulatory barriers and municipal licensing requirements create substantial entry barriers, protecting GWAV's market position
The company's recent real estate acquisitions in Carrollton, Virginia Beach and Toano demonstrate a forward-thinking approach to infrastructure development. This vertical integration strategy could drive margin expansion through reduced operating costs and increased operational efficiency.
The contract also serves as a proof-of-concept for GWAV's municipal partnership strategy, potentially opening doors to similar agreements in other jurisdictions. With 167 employees across three states and 13 facilities, GWAV has demonstrated the operational scale necessary to service large municipal contracts while maintaining service quality.
The Virginia Beach contract represents a significant operational optimization opportunity. The guaranteed annual processing volume of 800 tons of ferrous and 179,000 pounds of non-ferrous metals enables precise capacity planning and resource allocation, potentially driving improved operational efficiency ratios.
The strategic value of this contract extends beyond immediate revenue implications:
- Proximity to Naval Station Norfolk and major defense contractors provides access to high-quality scrap metal streams, typically commanding premium pricing
- The location within Virginia's largest industrial hub enables efficient collection and processing logistics, potentially reducing transportation costs
- Recent real estate acquisitions suggest preparation for vertical integration, which could lead to improved margins through reduced handling costs and enhanced processing efficiency
The exclusive nature of the agreement provides GWAV with significant market control, enabling optimization of collection routes and processing schedules. This operational leverage, combined with the company's existing network of 13 facilities, creates economies of scale that smaller competitors cannot match.
Initial value estimates at over
Company secures exclusive operations in
Leveraging municipal and federal agreements further establishes Greenwave's leadership in metal recycling
As detailed in the contract's Scope of Services, the
Key Competitive Advantages:
- Exclusive Market Presence: As the only metal recycling facility in
Virginia Beach , Greenwave's operation benefits from strategic proximity to NAS Oceana and the region's industrial hub. - 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 andToano 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
FAQ
How much revenue will GWAV generate from the Virginia Beach contract?
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