Welcome to our dedicated page for GREENWAVE TECHNOLOGY SOLUTIONS news (Ticker: GWAV), a resource for investors and traders seeking the latest updates and insights on GREENWAVE TECHNOLOGY SOLUTIONS stock.
Greenwave Technology Solutions Inc (GWAV) operates a network of metal recycling facilities across Virginia, North Carolina, and Ohio, specializing in processing ferrous and nonferrous scrap into industrial-grade materials. The company combines traditional recycling operations with innovative rare-earth recovery technologies and AI-driven solutions through its Scrap App platform.
This news hub serves as a comprehensive resource for tracking GWAV's corporate developments, including financial announcements, strategic partnerships, and technological advancements. Investors and industry observers will find timely updates on earnings reports, facility expansions, government contracts, and sustainability initiatives.
The curated collection features press releases covering operational milestones, material processing innovations, and market positioning updates. Regular updates ensure stakeholders stay informed about GWAV's role in sustainable metal recovery and its growing influence in domestic industrial supply chains.
Bookmark this page for direct access to verified information from Greenwave Technology Solutions, providing insights into operational efficiencies, rare-earth extraction breakthroughs, and evolving industry regulations impacting the metal recycling sector.
Greenwave Technology Solutions (Nasdaq: GWAV) reported record revenues from its downstream processing system in May 2024. This surge was driven by increased volume and higher prices, particularly in the copper market. The record-breaking copper prices are attributed to growing demand from electric vehicles and AI technologies. Greenwave has invested over $500,000 in an Orbcon PTV balling mill at its Kelford, NC facility to optimize copper extraction. The company is confident in surpassing its $40 million revenue guidance for 2024, owing to high steel and copper processing volumes.
Greenwave Technology Solutions, operator of metal recycling facilities in Virginia, North Carolina, and Ohio, announced a reverse stock split at a 1-for-150 ratio. Effective May 31, 2024, the split is intended to regain Nasdaq compliance by boosting the per-share trading price. Post-split trading begins June 3, 2024, under the symbol GWAV with a new CUSIP number 57630J 403. The move reduces outstanding shares from 1,132,490,847 to approximately 7,549,939 and affects all shareholders uniformly without altering their equity percentage, with fractional shares rounded up.
Greenwave Technology Solutions announced the elimination of all its convertible debt and preferred shares, totaling $35.2 million, including $17.2 million held by the Chairman and CEO. The company now holds $21.8 million in cash on its balance sheet. This financial move strengthens Greenwave's position and allows for expansion plans. The company anticipates generating approximately $40 million in revenue for 2024 through increased processing volumes of steel and copper.
Greenwave Technology Solutions, Inc. expects to process record volumes of steel and copper with revenues exceeding $40 million in 2024. Growth is being driven by its Cleveland, OH and Virginia Beach, VA locations, with the Company anticipating positive cashflows and EBITDA once its second American Pulverizer 60x85 Shredder commences operations. Greenwave CEO Danny Meeks believes the investments made in infrastructure will lead to significant growth in copper and steel processing capacity, creating value for shareholders.
Greenwave Technology Solutions, Inc. reports that its CEO exchanged $17.22 million in debt into equity, with $10 million exchanged for Series D Preferred Stock and $7.22 million for common stock. This move aims to strengthen the company's balance sheet and align the CEO's interests with shareholders, reflecting confidence in the business and growth strategy.
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