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Greenwave Technology Solutions Inc (GWAV) operates a network of metal recycling facilities across Virginia, North Carolina, and Ohio, specializing in processing ferrous and nonferrous scrap into industrial-grade materials. The company combines traditional recycling operations with innovative rare-earth recovery technologies and AI-driven solutions through its Scrap App platform.
This news hub serves as a comprehensive resource for tracking GWAV's corporate developments, including financial announcements, strategic partnerships, and technological advancements. Investors and industry observers will find timely updates on earnings reports, facility expansions, government contracts, and sustainability initiatives.
The curated collection features press releases covering operational milestones, material processing innovations, and market positioning updates. Regular updates ensure stakeholders stay informed about GWAV's role in sustainable metal recovery and its growing influence in domestic industrial supply chains.
Bookmark this page for direct access to verified information from Greenwave Technology Solutions, providing insights into operational efficiencies, rare-earth extraction breakthroughs, and evolving industry regulations impacting the metal recycling sector.
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.
Greenwave Technology Solutions (NASDAQ: GWAV) has announced the launch of an AI-powered operator in its subsidiary, Scrap App, targeting the $32 billion U.S. auto recycling market. The AI system enables autonomous real-time quotes for junk cars, vehicle pickup scheduling, and customer inquiry handling, aimed at reducing operating costs and improving scalability.
Scrap App has already established operations in Hampton Roads, Richmond, Greenville, Elizabeth City, and Cleveland. The company plans to expand into the top 25 U.S. markets by the end of 2025, leveraging its AI-driven, vertically integrated model. The expansion strategy targets a market where a leading competitor reported $130.7 million in FY 2024 revenue.
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) has announced a $4 million registered direct offering and concurrent private placement priced at market. The company will sell 7,544,323 shares of common stock at $0.5302 per share, with accompanying warrants to purchase an equal number of shares at the same price.
The warrants will expire five years from stockholder approval date. The offering, expected to close around January 14, 2025, includes provisions prohibiting participating investors from short selling the company's stock while holding warrants. This financing aims to accelerate the recovery and monetization of rare earth metals, with the company positioning itself in the renewable energy and advanced technology materials market.
Greenwave Technology Solutions (Nasdaq: GWAV) has announced the cancellation of its Special Meeting of Stockholders that was previously scheduled for January 10, 2025. The company operates as one of the Mid Atlantic's leading metal recyclers with 13 metal recycling facilities across Virginia, North Carolina, and Ohio.
Greenwave supplies ferrous and non-ferrous metal to major steel mills and industrial conglomerates. The company plays a significant role in providing raw materials for critical infrastructure projects and U.S. warships. Currently, the company employs 167 employees and is headquartered in Chesapeake, VA.
Greenwave Technology Solutions (NASDAQ: GWAV), a leading metal recycler operating 13 facilities across Virginia, North Carolina, and Ohio, has projected revenue of $43-$45 million for fiscal year 2025. The company's growth is driven by significant contracts, including a $15-$35M hurricane recovery contract through March 2026 and approximately $20M in annual purchases from Sims Metal Management.
The company plans to expand its Scrap App to top 25 U.S. markets in 2025 and expects to increase domestic sales from 41% to 75%. As of September 2024, Greenwave reported $69.58M in assets and $51.27M in shareholder equity, having reduced total liabilities by $32.56M (64%) in the first nine months of 2024. Insiders purchased over 500,000 GWAV shares in December 2024.
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.
