On December 3, 2024, China banned the export of gallium, germanium, and antimony to the United States – vital minerals utilized in the production of semiconductors, solar panels, and electric car batteries The Company expects to generate significant revenue in FY 2025 through the efficient extraction of these rare-earth minerals from vehicles, appliances, equipment, and heavy machinery Greenwave believes its proprietary rare-earth metal recovery initiative is a "catalytic converter-level" opportunity, with ...

Insiders made open market purchases of more than 500,000 GWAV shares in December 2024Company has increased shareholders' equity by approximately $51 million in 2024Greenwave continues to prioritize government contracts as a key driver of revenue and cash flow growthThe Company recently purchased the real estate for seven of its core facilities, reducing annual rent expenses by approximately $1.7 millionNumerous upcoming catalysts expected to benefit Greenwave -- including the opening of Nucor Corporation's  ...

Core Insights - Greenwave Technology Solutions, Inc. has been awarded an exclusive government contract for recycling 550,000 pounds of non-ferrous metal, which is expected to increase revenues by approximately $2 million in Q4 2024 and Q1 2025 [1] - The company operates 13 metal recycling facilities across Virginia, North Carolina, and Ohio, with a significant market share and a focus on both ferrous and non-ferrous metal processing [2][5] - Greenwave's growth strategy emphasizes government contracts, leveraging relationships for large-scale infrastructure projects and agreements for recycling abandoned vehicles [3] Competitive Advantages - Greenwave has established a robust operational footprint with 13 facilities, including three hubs dedicated to metal recycling, which creates barriers to entry in a highly regulated market [2] - The company has a strong portfolio of operational licenses, ensuring limited competition and safeguarding its market position [2] - Recent acquisitions of key facility real estate enhance Greenwave's strategic positioning for future growth [2] Strategic Growth Trajectory - The company prioritizes government contracts as a cornerstone of its growth strategy, with notable partnerships for infrastructure projects and contracts supporting U.S. Federal Government operations [3] - Greenwave's proximity to Naval Station Norfolk and the Port of Virginia provides access to a significant supply of scrap metal from defense contractors and logistics operations [4] - The company is well-positioned for long-term sustainable growth and value creation for stakeholders due to its market positioning and robust contract pipeline [4]

Core Insights - Greenwave Technology Solutions, Inc. has acquired the real estate for seven of its core metal recycling facilities, reducing annual rent expenses by approximately $1.7 million, which enhances cash flow and positions the company for future growth [1] - The company holds a portfolio of operational licenses for its metal recycling facilities, protected by grandfathered municipal codes, creating significant barriers to entry for competitors in regulated markets [2] Facility Highlights - The Norfolk, VA facility is strategically located near the largest U.S. Naval Base, benefiting from a steady influx of prime scrap metal and holding a unique automotive recycler/demolisher license [3] - The Virginia Beach, VA facility is the only metal recycling facility in the state's largest city, positioned near NAS Oceana and the industrial core [3] - The Portsmouth, VA facility serves as a cost-effective hub for shipments due to its proximity to the Port of Virginia, with its license also protected by grandfathered regulations [3] Company Overview - Greenwave operates 13 metal recycling facilities across Virginia, North Carolina, and Ohio, supplying ferrous and non-ferrous metals to steel mills and industrial conglomerates [5] - The company plays a critical role in supplying raw metal for infrastructure projects and U.S. warships, which are vital to national security [5] - Headquartered in Chesapeake, VA, Greenwave employs 167 individuals in its operations [5]

Financial Performance - For the three months ended September 30, 2024, the company generated revenues of $8,505,187, an increase of 3.95% from $8,181,948 in the same period in 2023, primarily due to growth in hauling revenue[204]. - Gross profit for the same period was $3,545,279, reflecting a 20.96% increase from $2,930,947 in 2023, driven by growth in hauling revenue and lower costs of metal revenues[205]. - Revenue for the nine months ended September 30, 2024, was $24,891,859, down from $26,641,644 in 2023, a decrease of $1,749,785, or 6.57%[213]. - Gross profit decreased to $9,093,395 for the nine months ended September 30, 2024, from $10,956,412 in 2023, a decline of $1,863,017, or 17.00%[215]. - Net loss available to common stockholders was $82,065,693 for the nine months ended September 30, 2024, compared to $29,443,909 for the same period in 2023, an increase of $52,621,784, or 178.72%[222]. Operating Expenses - Operating expenses decreased significantly by 51.38% to $7,981,875 in Q3 2024 from $16,416,504 in Q3 2023, primarily due to reduced consulting and legal expenses[206]. - Operating expenses decreased to $25,302,888 for the nine months ended September 30, 2024, from $28,467,422 in 2023, a reduction of $3,164,534, or 11.12%[216]. Other Income and Expenses - Other income (expense) showed a loss of $(361,070) in Q3 2024, a significant improvement from $(3,006,463) in Q3 2023, mainly due to reduced interest expenses[210]. - Other income increased significantly to $10,672,636 for the nine months ended September 30, 2024, compared to a loss of $(5,271,747) in 2023, a change of $15,944,383[220]. Cash Flow and Financial Position - Cash used in operating activities was $14,756,026 for the nine months ended September 30, 2024, compared to $2,587,000 in 2023[223]. - Net cash used in investing activities was $10,302,216 for the nine months ended September 30, 2024, compared to $1,577,768 in 2023[225]. - Net cash provided by financing activities was $38,711,738 for the nine months ended September 30, 2024, compared to cash used of $4,792,304 in 2023[226]. - As of September 30, 2024, the company had cash on hand of $15,199,655 and working capital of $6,766,724[227]. Compliance and Regulatory Matters - The Company received a Nasdaq Staff Deficiency Letter on September 13, 2024, indicating that its common stock bid price had closed below the minimum $1.00 per share requirement for continued listing for the last 30 consecutive business days[234]. - The Company has until March 12, 2025, to regain compliance with the minimum bid price requirement by closing at $1.00 or more for at least ten consecutive business days[235]. - If compliance is not regained by the deadline, the Company may be eligible for an additional 180-day compliance period, contingent on meeting other listing standards[237]. Internal Controls and Governance - As of September 30, 2024, the Company identified a material weakness in internal control over financial reporting due to inadequate review processes, which could lead to material misstatements[242]. - Management plans to enhance internal controls by hiring additional qualified personnel, but this is dependent on securing financing or generating significant revenue[243]. - The Company has begun hiring additional accounting personnel to improve segregation of duties and review processes during the most recent fiscal quarter[250]. - The Company’s disclosure controls and procedures were deemed ineffective as of September 30, 2024, due to identified control deficiencies[238]. - The Company does not expect its internal control over financial reporting to prevent or detect all errors and fraud, acknowledging inherent limitations[240]. Legal Matters - The Company is currently engaged in certain legal matters, with no material developments reported since September 30, 2024[251]. - Legal proceedings are detailed in Note 13 – Commitments and Contingencies of the Company's Condensed Consolidated Financial Statements[251].

Company Launches Trust Pilot reviews to Boost Google Search Ranking and Optimize its Conversion Rate ScrapApp.com is Capturing Market Share and Growing Revenue in Key Markets Primarily Utilizing Cashflows Generated from Operating Activities CHESAPEAKE, Va., Aug. 2, 2024 /PRNewswire/ -- Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (Nasdaq: GWAV), an operator of metal recycling facilities in Virginia, North Carolina, and Ohio, announced today that its wholly-owned subsidiary, Scrap App, ...

Core Insights - The article discusses the increasing demand for metals recycling, particularly copper, driven by the revival of the global economy, investments in green technologies, and AI technologies. It highlights that copper demand could double by 2035, while supply growth is expected to lag behind due to the time required for new mine construction and the aging of existing mines [2][3]. Company Insights - Greenwave Technology Solutions, Inc. (NASDAQ: GWAV) is positioned as a key player in the metals recycling industry, with operations in Virginia, North Carolina, and Ohio. The company has completed its recapitalization and anticipates generating record revenues exceeding $40 million in 2024, primarily from steel and copper processing [3][4]. - Greenwave's second automotive shredder is expected to double its ferrous metal output, generating approximately 25-30% more revenue with profit margins exceeding 60% by selling shredded ferrous metal [4][3]. - The company has invested over $15 million in infrastructure and equipment over the past 18 months, concluding a multi-year capital expenditure cycle aimed at significantly increasing its processing capacity [4][3]. Industry Trends - Major mining companies, including Anglo American, Rio Tinto, and Glencore, are increasingly investing in metals recycling to address supply challenges and capitalize on the growing market [4][5]. - The recycling industry is projected to reach USD 767.9 billion by 2029, driven by environmental concerns, regulations on mining, and rising raw material prices [11]. - The European Union mandates that by 2031, all batteries must contain 6% recycled lithium material, increasing to 12% by 2036, indicating a strong push towards a circular economy in battery production [10].

Core Insights - Greenwave Technology Solutions, Inc. is leveraging artificial intelligence to drive growth and competitive advantage in the $42.3 billion U.S. scrap metal industry [1][5][6] - The company has set a new daily record for cars purchased through its Scrap App platform, indicating strong market adoption [1][5] - Greenwave's vertical integration in the car scrapping process is expected to create significant efficiencies and competitive advantages [2][6] Company Overview - Greenwave operates 13 metal recycling facilities across Virginia, North Carolina, and Ohio, processing both ferrous and nonferrous scrap metal [3] - The Scrap App platform has generated substantial revenue from end-of-life vehicles in limited markets, including Hampton Roads, Richmond, and Cleveland [5][6] - The company plans to enhance Scrap App by listing nearby scrap yards with real-time prices and introducing a points-based rewards system [6] Industry Context - The U.S. scrap metal industry is valued at $42.3 billion, with steel being one of the most recycled products globally [1][7] - Greenwave aims to position Scrap App as a leading technology platform within the multi-billion dollar scrap metal industry, either as a standalone business or as an internal subsidiary [6]

Market Research Future added: "The recycling sector in the United States generates $116.8 billion in economic output while the increase in the construction of buildings owing to the increase in the disposal of building waste into landfills is another factor driving the growth of the metal recycling market revenue. For instance, 30% of all building materials brought to a normal construction site may be wasted. Also, nearly 145 million tonnes of waste were dumped in U.S. landfills in 2018 due to construction ...

Industry Overview - The rising demand for consumer electronics is significantly driving the growth of the metal recycling market, with increased production and consumption of devices leading to higher electronic waste generation [1] - The metal recycling market size is estimated to be USD 551.9 billion in 2024 and projected to reach USD 767.9 billion by 2029, indicating substantial growth potential [5] Company Highlights - Greenwave Technology Solutions, Inc. (NASDAQ: GWAV) has completed its recapitalization, strengthening its balance sheet by approximately $80.5 million since February, achieving the strongest cash position in company history [17][18] - Greenwave anticipates generating record revenues exceeding $40 million in 2024, driven by the volume of steel and copper processed [6] - The company has attracted $45.3 million in new capital infusions since March and has no current need to raise additional capital [12] - Greenwave plans to expand its technology platform, ScrapApp.com, nationwide and continue AI development to optimize pricing and sales [6][22] Market Dynamics - There is an anticipated structural shortage of critical materials such as copper, nickel, and lithium, which is driving demand for recycled metals [8] - Increased metal intensity in lower carbon-based technologies, including electric vehicles and renewable energy, is contributing to the growth of the recycling market [21] - The partnership between Li-Cycle Holdings Corp. and Daimler Truck North America for recycling lithium-ion batteries highlights the industry's focus on sustainability and resource recovery [19] Operational Developments - Greenwave is implementing several technologies to increase metal processing volumes and operating efficiencies, including a cloud-based ERP system [15] - The company is evaluating accretive acquisitions and strategic partnerships to further enhance its growth [12] - Radius Recycling, Inc. operates facilities across 25 states and is one of the largest manufacturers and exporters of recycled metal products in North America, processing millions of long tons of ferrous metals annually [7][20]