Greenwave Technology Solutions(GWAV)
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Greenwave Technology Solutions, Inc. Chief Executive Officer Danny Meeks to be Interviewed on BNN Bloomberg at 3:05pm EST Today
Prnewswire· 2025-02-18 18:11
Core Viewpoint - Greenwave Technology Solutions, Inc. is poised to benefit significantly from the recent 25% tariffs on steel and aluminum announced by President Trump, which are expected to drive up demand and prices for U.S. scrap metal [1][3]. Company Overview - Greenwave operates 13 metal recycling facilities and supplies 100% domestically-sourced metals to leading steel mills and industrial partners [4]. - The company is strategically located in Virginia, North Carolina, and Ohio, positioning it at the center of the evolving dynamics in the U.S. steel and metals industry [3][4]. Industry Dynamics - The U.S. steel and metals industry is shifting towards domestic sourcing, which is anticipated to increase demand for recycled metals and expand profit margins for companies like Greenwave throughout fiscal year 2025 [3]. - The surging demand for scrap metal is a direct result of the newly imposed tariffs, which are expected to create a favorable market environment for Greenwave [1][3].
Greenwave Technology Solutions, Inc. Covered by S&P Global Commodity Insights
Prnewswire· 2025-02-14 16:11
Core Insights - Greenwave Technology Solutions, Inc. has been covered by S&P Global Commodity Insights, highlighting its significance in the metal recycling industry [1] - The company provides U.S. manufacturers with 100% domestically-sourced copper, which is particularly relevant given the anticipated tariffs on imported copper [1] - Greenwave operates 13 metal recycling facilities across Virginia, North Carolina, and Ohio, supplying metals to leading steel mills and industrial partners [1] Financial Performance - The company recently raised its revenue guidance for FY 2025 to a range of $47–50 million [4] - Key customers include prominent industry players such as Nucor, Sims Metal Management, Cleveland-Cliffs, and Georgia-Pacific [4] Strategic Focus - In FY 2025, the recovery of rare earth metals will be a primary focus for the company [4]
Greenwave Technology Solutions, Inc. Preparing for Massive Demand Influx Amid 25% Tariffs on Steel and Aluminum Without Exceptions or Exemptions
Prnewswire· 2025-02-11 16:00
Group 1 - Greenwave Technology Solutions, Inc. is preparing for significant demand increases for its 100% domestically-sourced scrap metal products, including steel, aluminum, copper, and zorba, as prices for domestic scrap metal have surged in February 2025 and are expected to rise further [1][7]. - The company is positioned to benefit from the recent 25% tariffs on steel and aluminum imports announced by President Trump, which apply without exceptions or exemptions, thereby enhancing the demand for domestically-sourced materials [2][8]. - Greenwave operates 13 metal recycling facilities and plays a critical role in infrastructure projects and U.S. national security, with operations across Virginia, North Carolina, and Ohio [6][8]. Group 2 - The company raised its revenue guidance for FY 2025 to $47-50 million, indicating strong growth prospects [8]. - The market value of Greenwave's current inventories is estimated to have exceeded $6 million, reflecting the company's robust asset base [8]. - Greenwave has a fleet of over 50 trucks, enabling it to capitalize on market opportunities and fulfill customer orders swiftly during supply chain disruptions [8]. Group 3 - The company has secured numerous government, municipal, and infrastructure contracts, providing a reliable supply of scrap metal and driving revenue growth [8]. - Greenwave completed a multi-year capital expenditure cycle, investing over $20 million in equipment and infrastructure to facilitate rapid expansion [8]. - The company has accelerated the nationwide expansion of its AI-powered scrap car buying platform, Scrap App, and commenced operations in several key markets [8].
Greenwave Technology Solutions, Inc.'s Scrap Metal Inventories Estimated to Surpass $6 Million as Prices Surge, Poised for Further Gains
Prnewswire· 2025-02-07 09:10
Core Insights - Greenwave Technology Solutions, Inc. has reported that its scrap metal inventories have surpassed $6 million in current market value, positioning the company to benefit from rising metal prices and increasing demand [1][2][8] - The company has strategically accumulated high-value steel, aluminum, and copper since President Trump's election, anticipating higher tariffs on imported metals, which is expected to drive revenue growth [3][8] - Greenwave's operational capabilities include a fleet of over 50 trucks, enabling efficient transportation and fulfillment of customer orders, thereby maintaining a robust liquidity position [2][4][8] Inventory and Market Position - The estimated value of Greenwave's inventories is driven by surging metal prices and increasing demand, with domestic scrap steel prices expected to continue climbing [2][8] - The company has completed a multi-year capital expenditure cycle, investing over $20 million in equipment and infrastructure to support its expansion [8] - Greenwave's primary customers remit payment on the same day as metal delivery, ensuring a steady cash flow [4][8] Industry Dynamics - The scrap metal industry is experiencing rapid consolidation, with steelmakers acquiring scrap companies to secure raw material supplies and mitigate operational risks [5] - Greenwave holds exclusive operational licenses for its metal recycling facilities, creating significant barriers to entry for competitors in tightly regulated markets [6][8] - The company operates strategically located facilities in Virginia, benefiting from proximity to major industrial hubs and a steady influx of scrap metal [10][11]
Greenwave's Scrap App Adopted by a Leading U.S. Junk Car Buyer, Powering Expansion to 27 New Markets
Prnewswire· 2025-02-05 13:03
Group 1: Company Overview - Greenwave Technology Solutions, Inc. is a leading innovator in the metal recycling sector, operating 13 metal recycling facilities across Virginia, North Carolina, and Ohio [8] - The company aims to become the 1 junk car buying platform in the $32 billion U.S. auto recycling industry [5][4] - Greenwave's Scrap App is now utilized by one of the largest buyers of junk cars in the industry, indicating strong market penetration [5] Group 2: Product and Technology - Scrap App leverages AI technology to provide real-time, AI-generated quotes for junk vehicles, ensuring competitive pricing [7] - The platform has automated scheduling for vehicle pickups, which increases operational efficiency [7] - An AI Operator was deployed on January 27, 2025, developed at a cost of approximately $20,000, expected to yield significant annual cost savings and boost profit margins [6] Group 3: Market Expansion and Performance - Scrap App has expanded into three new key markets: Charlotte, NC, Winston-Salem, NC, and Columbia, SC, in addition to its five existing markets [4] - The company plans to continue expanding into multiple new markets every week, aiming to capture substantial market share [5] - From January 26 to February 1, 2025, Scrap App set a new weekly record in both the number of cars processed and revenue generated [1]
Greenwave Technology Solutions, Inc. Raises Revenue Guidance to $47-$50 Million for FY 2025
Prnewswire· 2025-02-04 13:08
Tariffs Expected to Drive 10-20% Revenue Growth on Metal Products with 40-45% Gross Profit MarginsGreenwave Supplies 100% Domestically-Sourced Steel, Aluminum, Copper, and Rare-Earth Metals to Industry Titans Company in Active Negotiations with Multiple Entities Seeking Access to its High-Volume Flow of Mill-Ready MetalsCHESAPEAKE, Va., Feb. 4, 2025 /PRNewswire/ -- Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (Nasdaq: GWAV), a leader in metal recycling, is raising revenue guidance to ...
Greenwave Technology Solutions, Inc. Poised for Explosive Growth Amid New Steel, Aluminum, and Copper Tariffs
Prnewswire· 2025-02-03 09:10
Core Viewpoint - President Trump's announcement of significant tariffs on steel, aluminum, and copper imports is expected to drive price increases for domestically sourced metals, positioning Greenwave Technology Solutions, Inc. as a key supplier in the evolving market landscape [1][3][4]. Group 1: Tariff Impact on Revenue - The anticipated tariffs are expected to significantly accelerate revenue growth for Greenwave, with a projected gross profit margin of 40-45% [2]. - Greenwave's operations are entirely domestic, which aligns with the U.S. steel and metals industry's shift towards domestic sourcing [2]. Group 2: Market Position and Demand - Greenwave is strategically positioned in Virginia, North Carolina, and Ohio, making it a dominant supplier of mill-ready shred and recycled metals in the Mid-Atlantic region [2]. - The company is poised to capture a significant share of the expanding domestic metals market due to surging demand for American-sourced steel, aluminum, and copper [4]. Group 3: Strategic Partnerships - Greenwave supplies subsidiaries of major companies such as Nucor Corporation, Cleveland-Cliffs, Inc., Sims Limited, and Georgia-Pacific, ensuring a reliable flow of mill-ready metals [3]. - The company's diverse sourcing network includes corporations, municipalities, and individuals, enhancing its operational capabilities [3]. Group 4: Company Overview - Greenwave Technology Solutions, Inc. operates 13 metal recycling facilities and plays a critical role in infrastructure projects and U.S. national security [5]. - The company is headquartered in Chesapeake, VA, and is focused on sustainably sourced metals [5].
Greenwave Technology Solutions, Inc. Launches AI-Powered Expansion of Scrap App
Prnewswire· 2025-01-27 14:07
Core Insights - Greenwave Technology Solutions, Inc. has launched an advanced AI-powered operator in its subsidiary, Scrap App, aiming to disrupt the $32 billion U.S. auto recycling market [1][8] - The AI operator enhances operational efficiency by providing real-time quotes, scheduling vehicle pickups, and handling customer inquiries [7][8] - Greenwave plans to expand Scrap App into the top 25 U.S. markets by the end of 2025, building on its existing presence in key cities [3][4] Company Overview - Greenwave operates 13 metal recycling facilities and supplies sustainably sourced metals to leading steel mills and industrial partners [5] - The company plays a critical role in infrastructure projects and U.S. national security, with operations across Virginia, North Carolina, and Ohio [5] Market Opportunity - The auto recycling industry is fragmented, presenting a significant market opportunity for Greenwave with a proven, scalable model [8] - A leading competitor in the industry reported $130.7 million in revenue for FY 2024, indicating the potential for Scrap App to capture significant market share [2][8] Strategic Focus - The company's focus on innovation and scalability is aimed at unlocking long-term shareholder value [4] - Automation through AI is expected to reduce operating costs, enhance scalability, and improve customer experience [2][8]
Greenwave Technology Solutions, Inc. Wins Exclusive Municipal Contract with Virginia Beach
Prnewswire· 2025-01-23 18:39
Initial value estimates at over $500,000 in revenues Company secures exclusive operations in Virginia's largest city and industrial hub, home to several military bases, advanced manufacturers, and defense contractors Leveraging municipal and federal agreements further establishes Greenwave's leadership in metal recycling CHESAPEAKE, Va., Jan. 23, 2025 /PRNewswire/ -- Greenwave Technology Solutions, Inc. (Nasdaq: GWAV), a prominent leader in sustainable metal recycling across Virginia, North Carolina, and ...
Greenwave Technology Solutions Announces $4 Million Offering Priced at Market
Prnewswire· 2025-01-13 14:28
Core Viewpoint - Greenwave Technology Solutions, Inc. is accelerating its recovery and monetization of rare earth metals amid global supply chain challenges, particularly due to China's export restrictions on critical materials [7]. Group 1: Financing and Capital Structure - The company has entered into a securities purchase agreement to raise approximately $4 million through a registered direct offering and concurrent private placement [1][2]. - The offering involves the sale of 7,544,323 shares of common stock at a price of $0.5302 per share, along with warrants to purchase an equal number of shares [2]. - Investors have agreed to a prohibition on short selling the company's common stock while holding warrants, aligning their interests with the company's long-term growth [10]. Group 2: Rare Earth Metals Recovery - Greenwave is leveraging advanced technologies to recover rare earth elements from high-value sources such as lithium batteries, solar cells, and electronic components [8]. - The company is evaluating the development of a dedicated rare earth recovery facility to meet the growing domestic demand for these materials [8]. Group 3: Strategic Positioning - Greenwave's recycling facilities are strategically located near Naval Station Norfolk and the Port of Virginia, benefiting from premium scrap metal streams sourced from military bases and defense contractors [9]. - The company plays a critical role in infrastructure projects and U.S. national security, with operations across Virginia, North Carolina, and Ohio [11].