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's Scrap App Adopted by a Leading U.S. Junk Car Buyer, Powering Expansion to 27 New Markets