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Greenwave Technology Solutions, Inc. - GWAV STOCK NEWS

Welcome to our dedicated page for Greenwave Technology Solutions news (Ticker: GWAV), a resource for investors and traders seeking the latest updates and insights on Greenwave Technology Solutions stock.

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.

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Greenwave Technology Solutions, Inc. (GWAV) announces the connection of its second automotive shredder to the power grid, expected to double annual shredded ferrous output and boost revenues by $4.8 million. The company aims to increase revenue by 25-30% through shredding steel it currently sells unshredded. With the acquisition of Baltimore Scrap Corp., Greenwave becomes one of the largest independent chains of scrap yards on the East Coast.
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Greenwave Technology Solutions, Inc. (GWAV) successfully restructured its senior secured debt, waiving cash covenants and amortization payments. The company's second automotive shredder is expected to double ferrous metal processing capacity, leading to a 30% revenue increase. Record revenues are anticipated in 2024, with plans to aggressively grow operations.
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Greenwave Technology Solutions, Inc. announces that its subsidiary, Scrap App, is now serving the Richmond Metropolitan Area, generating revenue from end-of-life vehicles. The company plans to expand to new markets, leveraging its expertise in the metal scrap industry.
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Greenwave Technology Solutions, Inc. is set to double its ferrous metal processing capacity with the addition of a second automotive shredder, leading to a projected 30% increase in revenue and significant margins on steel volume. The company aims to achieve record revenues in 2024.
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Greenwave Technology Solutions, Inc. is on track to generate record revenues in FY 2024 with the upcoming full operation of a second shredder expected to double the company's ferrous metal processing capacity. Recent developments include impressive growth in revenues, volumes, and profits at Virginia Beach and Cleveland yards, the commencement of operations at a non-ferrous processing facility, and the acquisition of Baltimore Scrap Corp. for $177 million. The company aims to expand its footprint of metal recycling facilities and scale its technology platform, Scrap App, to new markets.
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Greenwave Technology Solutions, Inc. (
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Greenwave Technology Solutions, Inc. announced that its subsidiary, Empire Metals, is now licensed to purchase end-of-life vehicles in Ohio, a core revenue and profit generator contributing over $5 million to the company's top line in FY 2023. The company's scrap car buying platform, ScrapApp.com, is rapidly scaling in Virginia and Ohio markets, with plans for further expansion. Greenwave believes that its vertical integration of the car scrapping process could create significant competitive advantages.
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Greenwave Technology Solutions, Inc. (GWAV) reports a revenue increase of over 10% in Q3 2023, with more than $9 million generated in the fourth quarter. The company expects significant revenue growth in FY 2024, supported by recent capital expenditures and operational enhancements. With over 20 years of experience, the company's leadership aims to create long-term shareholder value.
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Greenwave Technology Solutions, Inc. (GWAV) has announced the commencement of operations of a metal baler, wire stripper, and three sheers at its non-ferrous processing facility in Portsmouth, VA. The new high capacity metal baler is expected to significantly reduce labor and processing costs, increase profit margins, and potentially grow revenues by tens of thousands of dollars per month. The company has completed a $15 million capex cycle to double its ferrous metal processing capacity and scale to over 20 metal recycling facilities.
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Greenwave Technology Solutions, Inc. (Nasdaq: GWAV) has generated over $100,000 in revenue from cars purchased through its subsidiary, Scrap App, Inc., in its first 90 days. The company is developing artificial intelligence to optimize pricing and automate systems to create efficiencies as it captures market share in the metal recycling industry.
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FAQ

What is the current stock price of Greenwave Technology Solutions (GWAV)?

The current stock price of Greenwave Technology Solutions (GWAV) is $0.6051 as of December 24, 2024.

What is the market cap of Greenwave Technology Solutions (GWAV)?

The market cap of Greenwave Technology Solutions (GWAV) is approximately 13.5M.

What does Greenwave Technology Solutions, Inc. do?

Greenwave operates 13 metal recycling facilities that collect, classify, and process both ferrous and nonferrous scrap metal in Virginia, North Carolina, and Ohio.

What recent achievements has Greenwave Technology Solutions made?

Greenwave connected its second automotive shredder to the power grid, which will double its annual shredded ferrous output.

How has Greenwave strengthened its financial condition?

The company has converted substantial debt to equity, increased shareholder equity by $14.87 million, and retired all its convertible debt and preferred shares.

What are the environmental benefits of Greenwave's operations?

Recycling steel reduces energy use, lowers CO2 emissions, minimizes waste, and conserves natural resources.

What technologies does Greenwave use to enhance its operations?

Greenwave employs a downstream recovery system and a cloud-based ERP system to increase metal processing volumes and operational efficiencies.

Who are Greenwave's customers?

Greenwave’s customers include large corporations, industrial manufacturers, retail customers, and government organizations.

What is Greenwave's strategy for future growth?

Greenwave aims to expand by acquiring independent, profitable scrap yards and increasing its footprint in the metal recycling industry.

How does Greenwave's recent stock split affect current shareholders?

Every 150 shares of issued and outstanding Common Stock will be converted into one share, and no fractional shares will be issued.

What is the significance of Greenwave's downstream processing system?

The downstream processing system enables Greenwave to recover valuable metals from shred residue, significantly boosting revenues.

How has Greenwave improved its shareholder value?

Greenwave has significantly strengthened its balance sheet, invested in infrastructure, and increased processing capacity, all contributing to enhanced shareholder value.

Greenwave Technology Solutions, Inc.

Nasdaq:GWAV

GWAV Rankings

GWAV Stock Data

13.54M
16.72M
12.87%
8.77%
3.36%
Waste Management
Wholesale-metals Service Centers & Offices
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