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Greenwave Technology Solutions, Inc. reports developments tied to its metal recycling operations in Virginia, North Carolina and Ohio. Through Empire Services, Inc., the company operates 13 facilities that collect, classify and process ferrous and nonferrous scrap metal, with technology references including a downstream recovery system and a cloud-based ERP system.
Company updates commonly address scrap metal pricing, domestic sourcing conditions, customer and mill-ready recycled-metal activity, Nasdaq continued-listing compliance, delayed periodic reports, capital actions such as reverse stock splits, and finance leadership matters connected to SEC reporting and public-company reporting.
Greenwave Technology Solutions (Nasdaq: GWAV) received a Nasdaq notice on April 20, 2026 for failure to file its 2025 Form 10-K by the due date, citing non-compliance with Nasdaq Listing Rule 5250(c)(1).
The company has 60 calendar days to submit a plan and, if accepted, may receive up to an extension until October 12, 2026. Trading on The Nasdaq Capital Market under symbol GWAV is not currently affected. The company is working to complete and file the 2025 Form 10-K.
Greenwave (Nasdaq: GWAV) appointed Chelsea Pullano as Chief Financial Officer, effective February 5, 2026. The appointment follows a scope of work agreement with MACK Financial Solutions dated January 2, 2026, under which MACK provides bookkeeping, financial reporting and SEC reporting services.
Pullano will serve part-time as CFO, overseeing SEC filing certification, coordination with auditors and legal counsel, and other executive financial duties for the company.
Greenwave (Nasdaq: GWAV) received a Staff Determination Letter from Nasdaq on November 18, 2025 for non‑compliance with Nasdaq Listing Rule 5250(c)(1) after failing to file Form 10‑Q reports for periods ended Mar 31, 2025; Jun 30, 2025; and Sep 30, 2025. The company filed the Mar 31, 2025 Form 10‑Q on Nov 19, 2025 and says it is working to file the Jun 30 and Sep 30, 2025 reports.
The Staff letter granted an exception until Nov 17, 2025, which the company missed, and states trading will be suspended at the open on Nov 28, 2025 unless Greenwave requests an appeal by Nov 25, 2025. The company intends to request a hearing and a stay of suspension; hearings are typically scheduled ~30–45 days after request and an appeal request automatically stays suspension for at least 15 days.
Greenwave Technology Solutions (NASDAQ:GWAV), a metal recycling operator, received an additional delinquency notice from Nasdaq on August 22, 2025, due to failing to file its Q2 2025 Form 10-Q on time. This follows a previous delinquency notice from May 30, 2025, regarding the delayed Q1 2025 Form 10-Q filing.
The company must submit an updated compliance plan to Nasdaq by September 8, 2025. While GWAV's securities continue trading on the Nasdaq Capital Market, the non-compliance could serve as an additional basis for potential delisting. The company states it is working to complete and file both delayed quarterly reports.
Greenwave Technology Solutions (NASDAQ:GWAV), a metal recycling operator, announced a 1-for-110 reverse stock split effective August 22, 2025, to regain Nasdaq compliance with minimum bid price requirements. The company's common stock will begin trading on a split-adjusted basis on August 25, 2025.
The reverse split will reduce outstanding shares from 62,794,283 to approximately 570,858. Stockholders' ownership percentages will remain unchanged, with fractional shares rounded up. The stock will continue trading under symbol GWAV with new CUSIP number 57630J 502. Proportional adjustments will be made to options and warrants.
Greenwave Technology Solutions (NASDAQ: GWAV) announced that CEO Danny Meeks will be interviewed on Good Morning America by ABC News' Rebecca Jarvis regarding the implementation of tariffs on foreign steel and aluminum imports. The company has strategically accumulated inventory valued at $10+ million with 50%+ margins since November 2024.
Scrap steel prices have increased by over 20% in the past month and are expected to rise further. The company operates 13 metal recycling facilities across Virginia, North Carolina, and Ohio, supplying domestic scrap metal to major manufacturers. Greenwave's strategic position near the world's largest naval base and its role in supplying materials for naval shipbuilding positions it to benefit from increased demand and Trump's shipbuilding initiative.
The company supplies Nucor's Hertford facility with steel used in bridges, heavy equipment, and U.S. Navy warships, including the $13 billion USS Gerald Ford aircraft carrier. Greenwave also maintains federal government contracts and operates Virginia Beach's only metal recycling facility.
Greenwave Technology Solutions (NASDAQ: GWAV) reports significant margin expansion due to surging scrap steel prices, which have increased 20% since early February 2025. The company's strategic position is strengthened by upcoming steel and aluminum import tariffs effective March 12, 2025.
Operating 13 metal recycling facilities across Virginia, North Carolina, and Ohio, Greenwave supplies 100% domestically-sourced scrap metal to major industry players including Nucor, Sims, Cleveland-Cliffs, and Georgia-Pacific. The company recently acquired real estate for seven core facilities, reducing annual rent expenses by $1.7 million.
Greenwave's competitive advantage stems from its portfolio of protected operational licenses in regulated markets, including strategic facilities near major naval bases. The company is positioned to benefit from Nucor 's new Lexington steelmaking facility opening in 2025, which will process 430,000 tons annually using nearly 100% recycled materials.
Greenwave Technology Solutions (NASDAQ: GWAV) announced that CEO Danny Meeks will be interviewed on Fox Business Network's Varney & Co. at 11:30am EST. The interview will discuss the impact of upcoming 25% steel and aluminum tariffs, effective March 12, 2025, on U.S. scrap metal prices and demand.
As a leading Mid-Atlantic supplier of mill-ready shred and recycled metals, Greenwave has raised its FY 2025 revenue guidance to $47-50 million. The company, with strategic operations in Virginia, North Carolina, and Ohio, expects to benefit from increased demand and wider profit margins as the U.S. steel industry shifts toward domestic sourcing.
Greenwave Technology Solutions (NASDAQ: GWAV) has selected GreenSpark as its core operating system to enhance operational efficiency and drive growth. GreenSpark, an AI-powered platform backed by BMW i Ventures, will be implemented across Greenwave's operations in early March 2025.
The platform, which has seen its customer base grow over 300% in the past year, has secured approximately $25 million in funding from investors including BMW i Ventures, Zero Infinity Partners, Third Prime, Bienville Capital, and Tiger Global. GreenSpark currently serves 500+ scrap yard locations and is expected to contribute to Greenwave's revenue and margin growth starting March 2025.
Greenwave, a leading scrap metal recycling chain supplying to industry giants like Nucor, Sims Metal, Cleveland-Cliffs, and Georgia-Pacific, has raised its 2025 revenue outlook to $47-$50 million. The company aims to leverage GreenSpark's AI capabilities to capture market share in the multi-billion-dollar scrap metal industry.
Greenwave Technology Solutions (NASDAQ: GWAV) has announced strong financial positioning with approximately $10 million in cash and $7 million in current inventories. The company recently raised its FY 2025 revenue guidance to $47-$50 million, driven by anticipated metal tariffs and growing domestic demand.
The company secured several key contracts, including an exclusive agreement for recycling 550,000 pounds of non-ferrous metal (estimated $2 million revenue boost in Q4 2024/Q1 2025) and a contract with Virginia Beach expected to generate over $500,000 initially. Greenwave's strategic position near Naval Station Norfolk and the Port of Virginia provides access to prime scrap metal sources.
The company expects significant growth from Nucor's new 430,000-ton Lexington facility opening in 2025, which will use 99% recycled inputs. Greenwave's acquisition of seven core facilities is reducing rent by $1.7M annually, while its portfolio of grandfathered operational licenses creates substantial barriers to entry in regulated markets.