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]

Company Strengthens Balance Sheet by $80.5 Million since February Company's Business Plan Fully Funded with No Current Need for Additional Capital Greenwave's Recent Highlights: Strengthened balance sheet by approximately $80.5 million since February Current cash balance of over $26 million Business plan is now fully funded Company is now in full compliance with all Nasdaq listing requirements Anticipates starting operations of its second shredder this summer Plans to enhance margins of its downstream proce ...

Forward-looking Statements CHESAPEAKE, Va., June 18, 2024 /PRNewswire/ -- Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (Nasdaq: GWAV), an operator of metal recycling facilities in Virginia, North Carolina, and Ohio, today announced that on June 17, 2024, the Company received formal notice from The Nasdaq Stock Market LLC ("Nasdaq") that the Company has evidenced compliance for continued listing on The Nasdaq Capital Market. Accordingly, the previously announced listing matter has been ...

Company's Downstream Processing System Generated Record Revenues in May 2024 Greenwave Reiterates its Confidence in Exceeding Revenue Guidance of $40 million Driven by Both Increased Volume and Higher Prices Copper Prices Hit an All-Time High in May 2024 Due to Demand for Electric Vehicles and AI Technologies(1) CHESAPEAKE, Va., June 5, 2024 /PRNewswire/ -- Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (Nasdaq: GWAV), an operator of metal recycling facilities in Virginia, North Carolin ...

Common stock will begin trading on reverse split-adjusted basis on June 3, 2024 CHESAPEAKE, Va., May 29, 2024 /PRNewswire/ -- Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (Nasdaq: GWAV), an operator of metal recycling facilities in Virginia, North Carolina, and Ohio, today announced that it intends to effect a reverse stock split of its common stock, par value $0.001 per share (the "Common Stock") at a ratio of 1 post-reverse split share for every 150 pre-reverse split shares. The rev ...

Final Conversion of $18 Million in Convertible Debt Occurred Today Greenwave Eliminated an Additional $17.2 Million in Debt Held by Chairman Company Now Has No Convertible Debt or Preferred Shares Outstanding Greenwave Bolsters Balance Sheet with $21.8 Million in Cash CHESAPEAKE, Va., May 22, 2024 /PRNewswire/ -- Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (Nasdaq: GWAV), an operator of metal recycling facilities in Virginia, North Carolina, and Ohio, today announced that it has reti ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ACT OF 1934 For the period ended March 31, 2024 Securities registered pursuant to Section 12(b) of the Act: | | | OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ACT OF 1934 For the transition period from ___________to ____________ Commission File Number 001-41452 GREENWAVE TECHNOLOGY SOLUTIONS, INC. (Exact name of business as specifi ...