Greenwave Technology Solutions, Inc. Chief Executive Officer Danny Meeks to be Interviewed on Fox Business Network's Varney & Co. Today

Rhea-AI Summary

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.

Positive

• Raised FY 2025 revenue guidance to $47-50M
• Expected profit margin expansion from new tariffs
• Strategic positioning in key Mid-Atlantic markets
• Anticipated surge in demand due to 25% steel tariffs

Negative

• None.

CHESAPEAKE, Va., March 6, 2025 /PRNewswire/ -- Greenwave Technology Solutions, Inc. (Nasdaq: GWAV) ("Greenwave" or the "Company"), today announced that its Chairman and Chief Executive Officer, Danny Meeks, is expected to be interviewed on Fox Business Network's Varney & Co. at 11:30am EST today.

$GWAV Positioned to Win Big on Metal Tariffs, Raises Revenue Guidance to $47-50 Million for FY 2025

The interview is expected to focus on surging prices and demand for U.S. scrap metal resulting from President Trump's recently announced 25% steel and aluminum tariffs set to take effect on March 12, 2025.

$GWAV Positioned to Win Big on Metal Tariffs

As one of the Mid-Atlantic's dominant suppliers of mill-ready shred and other recycled metals, Greenwave anticipates surging demand and expanding profit margins throughout fiscal year 2025. With the U.S. steel and metals industry shifting toward domestic sourcing, Greenwave's strategic position in Virginia, North Carolina, and Ohio places it at the epicenter of these game-changing industry dynamics.

About Greenwave Technology Solutions, Inc.
Greenwave Technology Solutions, Inc. (Nasdaq: GWAV) operates 13 metal recycling facilities supplying leading steel mills and industrial partners with 100% domestically-sourced metals. Headquartered in Chesapeake, VA, Greenwave plays a critical role in infrastructure projects and U.S. national security, with operations across Virginia, North Carolina, and Ohio. For more information, visit www.GWAV.com.

For detailed financials and updates, visit www.GWAV.com.

Forward-looking Statements
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These include, without limitation, statements about its revenue growth, opening of additional locations, margin expansion and cashflow projections. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although the Company believes that its plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, the Company can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond the Company's control), assumptions and other factors that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results may differ materially from those in the forward-looking statements and the trading price for the Company's common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company's filings with the SEC. Except as required by law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

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SOURCE Greenwave Technology Solutions

FAQ

What is the new revenue guidance for Greenwave Technology Solutions (GWAV) for FY 2025?

Greenwave Technology Solutions has raised its revenue guidance to $47-50 million for fiscal year 2025.

How will the new 25% steel tariffs impact Greenwave Technology Solutions (GWAV)?

The tariffs are expected to increase demand and profit margins for GWAV as a major Mid-Atlantic supplier of recycled metals due to increased domestic sourcing.

When will the new steel and aluminum tariffs take effect for GWAV operations?

The 25% steel and aluminum tariffs are set to take effect on March 12, 2025.

In which states does Greenwave Technology Solutions (GWAV) operate?

GWAV operates in Virginia, North Carolina, and Ohio.