Greenwave Technology Solutions' Scrap App Sets New Daily Record

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]