GREENWAVE TECHNOLOGY SOLUTIONS INC Stock Price, News & Analysis

Greenwave Technology Solutions (Nasdaq: GWAV) has secured a contract with Core Tree Care, Inc. valued at $15-$35 million for Hurricane Helene recovery services. The contract, related to an Army Corps of Engineers prime contract, involves tree removal and processing in counties near Asheville, North Carolina. The company is operating advanced equipment including Vermeer and Morbark Wood Grinders valued at $1.4 million each.

This represents a new revenue stream for Greenwave, expanding from its core metal recycling business. The company operates 13 metal recycling facilities across Virginia, North Carolina, and Ohio, with 167 employees. The contract is expected to generate significant revenue and healthy free cashflow by March 31, 2026.

Greenwave Technology Solutions (Nasdaq: GWAV), a metal recycling leader operating 13 facilities across Virginia, North Carolina, and Ohio, has announced strategic developments in the consolidating scrap metal market. The company has achieved $1.7 million in annual cost savings through real estate acquisitions of seven core facilities.

The company reported revenues from Sims Metal of $20.7 million in 2023 and $18.0 million in 2022. With 167 employees, Greenwave supplies ferrous and non-ferrous metal to major steel mills and industrial conglomerates. The announcement highlights recent industry acquisitions, including Sims Metal's $220 million purchase of Baltimore Scrap Corp., demonstrating significant consolidation in the sector.

Greenwave Technology Solutions (Nasdaq: GWAV), a metal recycling leader operating across Virginia, North Carolina, and Ohio, is strategically positioned to benefit from Nucor 's new Lexington steelmaking facility opening in 2025. The facility will process 430,000 tons annually using nearly 100% recycled materials.

Operating 13 metal recycling facilities and employing 167 people, Greenwave supplies critical recycled metals to major steel mills. The company projects domestic sales to reach 75% of revenue in 2025, up from 41% in previous years, driven by anticipated trade policies and infrastructure investments in the South Atlantic Region.

Greenwave currently supplies Nucor's Hertford mill with steel used in bridges, heavy equipment, and military vessels, including components for the $13 billion USS Gerald Ford aircraft carrier.

Greenwave Technology Solutions (Nasdaq: GWAV) has acquired real estate for seven of its core metal recycling facilities from CEO Danny Meeks, reducing annual rent expenses by $1.7 million. The company operates 13 facilities across Virginia, North Carolina, and Ohio, with 167 employees. Key strategic assets include exclusive operational licenses in Norfolk, Virginia Beach, and Portsmouth, protected by grandfathered municipal codes. The Norfolk facility, near the largest U.S. Naval Base, holds one of the city's few VMV automotive recycler licenses, while the Virginia Beach location is the city's only metal recycling facility.

Greenwave Technology Solutions (Nasdaq: GWAV), a metal recycling operator in Virginia, North Carolina, and Ohio, anticipates that U.S. tariffs on steel imports will drive revenue growth and margin expansion in FY 2025. The company bases this expectation on its 20+ years of industry experience, noting significant benefits to U.S. scrap metal recyclers during the previous Trump administration when tariffs increased domestic recycled metal prices. Greenwave supplies mill-ready shred to major companies including Nucor , Cleveland-Cliffs, and Sims subsidiaries, sourcing from hundreds of corporations, municipalities, and individuals across their operating regions.

Investorideas.com has released the second part of its series on the expanding metals recycling industry, highlighting the increasing interest from large mining firms. Greenwave Technology Solutions (NASDAQ: GWAV) has strengthened its infrastructure, anticipating record revenues exceeding $40 million in 2024, driven by its facilities in Cleveland, OH, and Virginia Beach, VA. The company has completed a multi-year capex cycle, investing over $15 million in infrastructure, including a new automotive shredder expected to double its ferrous metal output and enhance revenue by 25-30%. Major mining companies like Anglo American, Rio Tinto, and Glencore are entering the recycling sector, with notable investments in projects like Lifezone Metals' Kabanga Nickel Project. The global market for recycled metals is expected to grow significantly, driven by increasing demand for sustainable practices and regulatory requirements.

On June 18, 2024, Investorideas.com highlighted Greenwave Technology Solutions (NASDAQ: GWAV) in the metal recycling market. The sector is booming due to rising e-waste from consumer electronics. The market is projected to grow from USD 551.9 billion in 2024 to USD 767.9 billion by 2029. Greenwave completed its recapitalization, strengthening its balance sheet by $80.5 million and attracting $45.3 million in new capital since March. The company aims to generate over $40 million in revenue for 2024 and has a current cash balance of $26 million, the highest in its history. Greenwave plans to expand operations, launch a second shredder this summer, and grow its ScrapApp.com platform nationwide. They are also considering acquisitions and strategic partnerships to bolster growth.

Greenwave Technology Solutions has completed a recapitalization, significantly improving its balance sheet by $80.5 million since February. The company has attracted $45.3 million in new capital since March and now holds a cash balance exceeding $26 million. This positions Greenwave with its strongest cash position ever, fully funding its business plan with no need for additional capital.

Greenwave is on track to surpass $40 million in revenue in 2024, driven by increased processing of steel and copper. Key strategic initiatives include initiating operations of a second shredder, expanding its ScrapApp.com platform, enhancing copper extraction technology, and exploring acquisitions and partnerships. The company is now compliant with all Nasdaq listing requirements.

Greenwave Technology Solutions (Nasdaq: GWAV), a company operating metal recycling facilities in Virginia, North Carolina, and Ohio, announced on June 18, 2024, that it has regained full compliance with Nasdaq listing standards. The announcement follows a formal notice from Nasdaq on June 17, 2024, confirming the company's eligibility for continued listing on the Nasdaq Capital Market. The previously announced listing issue has now been resolved.