Greenwave Technology Solutions, Inc. Selects GreenSpark as Operating System to Drive Rapid Growth

Rhea-AI Summary

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.

Positive

• Revenue outlook raised to $47-$50M for 2025
• Implementation of AI-powered platform expected to improve operational efficiency
• Platform integration to begin contributing to revenue and margin growth from March 2025
• Strategic partnerships with major industry clients (Nucor, Sims Metal, Cleveland-Cliffs, Georgia-Pacific)

Negative

• None.

News Market Reaction

-4.64%

1 alert

-4.64% News Effect

On the day this news was published, GWAV declined 4.64%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

GreenSpark – Backed by BMW i Ventures and Gaining Significant Adoption in the Metal Recycling Sector – is Expected to Power $GWAV's Ambitious 2025 Growth Plans

• Greenwave Supplies Industry Titans Nucor, Sims Metal, Cleveland-Cliffs, and Georgia-Pacific with 100% U.S.-Sourced Recycled Metals
• $GWAV Recently Raised 2025 Revenue Outlook to $47-$50 Million, Signaling Robust Growth Resulting from President Trump's Steel and Aluminum Tariffs
• GreenSpark's AI-Driven Platform is Focused on the Multi-Billion-Dollar Scrap Metal Industry

CHESAPEAKE, Va., Feb. 26, 2025 /PRNewswire/ -- Greenwave Technology Solutions, Inc. (Nasdaq: GWAV) ("Greenwave" or the "Company"), a leading scrap metal recycling chain, today selected GreenSpark—the metal recycling industry's fastest-growing, AI-powered operating system—as its core platform. After an exhaustive review of top-tier point-of-sale and ERP systems, Greenwave tapped GreenSpark's cutting-edge technology to supercharge its operational efficiency, accelerate revenue growth, and expand margins.

GreenSpark – Backed by BMW i Ventures – is Expected to Power $GWAV's Ambitious 2025 Growth Plans

Founded by Goldman Sachs veteran Gordon Driscoll, GreenSpark has closed a powerhouse ~$25 million war chest from elite investors like BMW i Ventures, Zero Infinity Partners, Third Prime, Bienville Capital, and Tiger Global. This underscores GreenSpark's considerable momentum, with its customer base surging over 300% in the past year alone. The platform's next-gen AI capabilities are poised to redefine industry standards, unlocking unprecedented value for operators.

Greenwave's adoption of GreenSpark—set to roll out across its operations in early March 2025—positions the Company alongside 500+ top-tier scrap yard locations already thriving on the platform. Serving the leading operators in metals recycling and automotive industries, GreenSpark's scalable ecosystem aligns perfectly with Greenwave's aggressive growth plans. Greenwave expects GreenSpark's platform will begin contributing to revenue and margin growth in March 2025 and compound through the rest of 2025.

"We're incredibly excited to partner with Greenwave as they integrate GreenSpark across their expanding operations," said Gordon Driscoll, Founder and CEO of GreenSpark. "Greenwave's exceptional management team has consistently demonstrated their ability to drive growth and operational excellence in the metal recycling industry. Together, we're not just optimizing recycling operations—we're building a more sustainable and efficient future for the entire metals ecosystem. This partnership represents a significant milestone in our journey to revolutionize how the industry operates, and we look forward to helping Greenwave accelerate their ambitious growth trajectory in 2025 and beyond."

With GreenSpark's AI-driven insights and Greenwave's operational scale, the Company is primed to rapidly capture market share in the multi-billion-dollar scrap metal industry.

About Greenwave Technology Solutions, Inc.
Greenwave Technology Solutions, Inc. (Nasdaq: GWAV) operates 13 metal recycling facilities supplying industry giants with 100% U.S.-sourced steel, aluminum, copper, and other 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. The Company was recently featured in S&P Global Commodity Insights and BNN Bloomberg. For more information, visit www.GWAV.com.

About GreenSpark
GreenSpark provides end-to-end, web-based software solutions to help metal recyclers create stronger relationships with their customers, grow revenue more quickly, and increase profit margins. GreenSpark has raised ~$25 million in venture financing from BMW i Ventures, Zero Infinity Partners, Third Prime, Bienville Capital, Tiger Global, and more. For more information, visit www.greensparksoftware.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 expected revenue outlook for Greenwave Technology Solutions (GWAV) in 2025?

Greenwave Technology Solutions has raised its 2025 revenue outlook to $47-$50 million.

When will GreenSpark's platform be implemented across GWAV's operations?

GreenSpark's platform will be rolled out across Greenwave's operations in early March 2025.

How much funding has GreenSpark secured from investors?

GreenSpark has secured approximately $25 million from investors including BMW i Ventures, Zero Infinity Partners, Third Prime, Bienville Capital, and Tiger Global.

What growth has GreenSpark's customer base experienced in the past year?

GreenSpark's customer base has grown over 300% in the past year, now serving 500+ scrap yard locations.

Who are the major companies that GWAV supplies with recycled metals?

Greenwave supplies 100% U.S.-sourced recycled metals to industry titans including Nucor, Sims Metal, Cleveland-Cliffs, and Georgia-Pacific.