Greenwave Technology Solutions announced record revenue for Q1 2022 and its intention to uplist to a national exchange. Trading under the ticker GWAV commenced on March 25, 2022. The surge in metal prices due to inflation and geopolitical tensions has created a favorable environment for Greenwave, which operates 11 metal recycling facilities through its subsidiary, Empire Services. The company reported approximately $27.5 million in revenue for fiscal year 2021 and anticipates submitting its uplisting application post its Annual Report filing.
Greenwave Technology Solutions, Inc. (OTCPink: MSRTD) reported significant growth in profit margins due to soaring commodity prices, particularly copper and steel, which have reached all-time highs in 2022. The Russia-Ukraine conflict has intensified demand and depleted inventories, further driving prices upward. In 2021, Empire Services, a subsidiary of Greenwave, generated approximately $27.5 million in revenue. The company plans to uplist to NASDAQ by June 2022 and is enhancing processing capacity with a new shredder.
Greenwave Technology Solutions, Inc. (OTCPink: MSRTD) has announced a strategic focus for 2022 on acquiring profitable metal scrap yards in areas with limited scrap yard licenses. The company operates 11 facilities and plans to enhance operations with a second automotive shredder, potentially boosting revenue by $8-15 million. Furthermore, a new processing system could generate an extra $10-20 million over 18 to 24 months. Greenwave aims to uplist to NASDAQ by June 2022 and is currently trading under a temporary ticker symbol.
Greenwave Technology Solutions (OTCPink:MSRTD) will start trading under the ticker ‘GWAV’ on March 28, 2022. Following a share consolidation on February 28, 2022, the company is expected to submit an application for NASDAQ uplisting in March, aiming for a national exchange listing by June 2022. Greenwave's subsidiary, Empire Services, generated approximately $27.5 million in revenue for fiscal year 2021. The company is relocating its corporate headquarters and anticipates significant expansion opportunities.
Greenwave Technology Solutions (OTCPink:MSRT, MSRTD) announces the installation of a second automotive shredder at its subsidiary Empire Services, aimed at doubling processing capacity. This expansion could generate an additional $8-15 million in revenue over 18 months. In addition, a new downstream processing system is expected to recover metals from shred residue, potentially generating $10-20 million in revenue. Empire aims for $100 million in annual revenue by 2025 and plans to uplist to Nasdaq by mid-2022.