Greenwave

Greenwave Technology Solutions Regains Compliance with Nasdaq Market Value of Listed Securities Requirement

Retrieved on: 
Thursday, April 4, 2024
The Company, Greenwave, Steel, Calendar, Cryptocurrency

CHESAPEAKE, Va., April 4, 2024 /PRNewswire/ -- Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (Nasdaq: GWAV), a leading operator of metal recycling facilities in Virginia, North Carolina, and Ohio, announced that it has received a formal notice from the Nasdaq Stock Market LLC ("Nasdaq") informing the Company that it has regained compliance with the market value of listed securities requirement under Nasdaq Listing Rule 5550(b)(2) for continued listing on the Nasdaq Capital Market. However, if the Company fails to evidence compliance upon filing its next periodic report, it may be subject to delisting.

Key Points: 
  • CHESAPEAKE, Va., April 4, 2024 /PRNewswire/ -- Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (Nasdaq: GWAV), a leading operator of metal recycling facilities in Virginia, North Carolina, and Ohio, announced that it has received a formal notice from the Nasdaq Stock Market LLC ("Nasdaq") informing the Company that it has regained compliance with the market value of listed securities requirement under Nasdaq Listing Rule 5550(b)(2) for continued listing on the Nasdaq Capital Market.
  • However, if the Company fails to evidence compliance upon filing its next periodic report, it may be subject to delisting.
  • Further, Nasdaq provided the Company an additional 180 calendar days, or until September 30, 2024, to regain compliance with the $1.00 minimum bid price requirement for continued listing under Nasdaq Listing Rule 5550(a)(2).
  • If the Company does not regain compliance by September 30, 2024, Nasdaq would notify the Company that its securities would be subject to delisting.

Greenwave Technology Solutions Strengthens Balance Sheet by Approximately $14.87 Million

Retrieved on: 
Monday, April 1, 2024
The Company, Steel, Greenwave, Security (finance)

CHESAPEAKE, Va., April 1, 2024 /PRNewswire/ -- Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (Nasdaq: GWAV), a leading operator of metal recycling facilities in Virginia, North Carolina, and Ohio, today announced that during the first quarter of 2024, it received proceeds from warrant exercises of approximately $2.81 million, converted approximately $2.06 million of third party debt to equity, and exchanged $10 million of related-party debt into equity. As a result of the foregoing, the Company has increased its shareholder's equity by approximately $14.87 million.

Key Points: 
  • CHESAPEAKE, Va., April 1, 2024 /PRNewswire/ -- Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (Nasdaq: GWAV), a leading operator of metal recycling facilities in Virginia, North Carolina, and Ohio, today announced that during the first quarter of 2024, it received proceeds from warrant exercises of approximately $2.81 million, converted approximately $2.06 million of third party debt to equity, and exchanged $10 million of related-party debt into equity.
  • As a result of the foregoing, the Company has increased its shareholder's equity by approximately $14.87 million.
  • The Company believes it has regained compliance with the minimum $2.5 million stockholders' equity requirement and satisfies the minimum $5 million equity requirement for initial listing on The Nasdaq Capital Market.
  • Greenwave believes it is on track to generate record revenues with record volume of steel processed in 2024.

Greenwave Technology Solutions' Scrap App Expands to Richmond, VA Market as it Continues to Capture Market Share

Retrieved on: 
Monday, March 4, 2024
Greater Richmond Region, The Company, Hundred, Greenwave, Hampton Roads

CHESAPEAKE, Va., March 4, 2024 /PRNewswire/ -- Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (Nasdaq: GWAV), a leading operator of metal recycling facilities in Virginia, North Carolina, and Ohio, today announced that its wholly-owned subsidiary, Scrap App, Inc. ("Scrap App") is now serving the Richmond Metropolitan Area, the third largest in the Commonwealth of Virginia. Scrap App is also available in the Hampton Roads, VA and Cleveland, OH markets. Greenwave has generated hundreds of thousands of dollars in revenue from end-of-life vehicles purchased through Scrap App.

Key Points: 
  • Scrap App is also available in the Hampton Roads, VA and Cleveland, OH markets.
  • Greenwave has generated hundreds of thousands of dollars in revenue from end-of-life vehicles purchased through Scrap App.
  • Scrap App has adopted the lean startup methodology, expanding primarily utilizing the cashflows it generates from operating activities.
  • Greenwave intends to utilize its expansive expertise in the $41.4 billion metal scrap industry(2) to develop Scrap App into an industry-leading technology platform.

Greenwave Technology Solutions Generates More than $9 Million Revenue in Q4 2023

Retrieved on: 
Monday, January 22, 2024
Sale, News, Greenwave, The Company, Public expenditure

CHESAPEAKE, Va., Jan. 22, 2024 /PRNewswire/ -- Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (Nasdaq: GWAV), a leading operator of metal recycling facilities in Virginia, North Carolina, and Ohio, today announced that it generated more than $9 million in revenue during the fourth quarter of 2023. The news comes on the heels of the Company commencing operations of a metal baler, wire stripper, and three sheers at its non-ferrous processing facility in Portsmouth, VA last week.

Key Points: 
  • CHESAPEAKE, Va., Jan. 22, 2024 /PRNewswire/ -- Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (Nasdaq: GWAV), a leading operator of metal recycling facilities in Virginia, North Carolina, and Ohio, today announced that it generated more than $9 million in revenue during the fourth quarter of 2023.
  • The news comes on the heels of the Company commencing operations of a metal baler, wire stripper, and three sheers at its non-ferrous processing facility in Portsmouth, VA last week.
  • Greenwave is poised to accelerate its revenue growth in 2024, aided by the significant capital expenditures the Company has made over the past twenty-four months, some of which include additional processing equipment, a fleet of trucks to more efficiently transport materials for processing and sale, and technologies aimed at growing top line sales as well as creating operating efficiencies to enhance margins.
  • With more than 20 years of experience in the metal recycling industry, Empire's leadership has grown the Company through nearly every economic climate and is committed to creating long-term shareholder value.

Greenwave Technology Solutions Commences Operation of Metal Baler, Wire Stripper, and Sheers at Non-Ferrous Processing Facility

Retrieved on: 
Friday, January 19, 2024
Greenwave, The Company, Transport, Recycling

CHESAPEAKE, Va., Jan. 19, 2024 /PRNewswire/ -- Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (Nasdaq: GWAV), a leading operator of metal recycling facilities in Virginia, North Carolina, and Ohio, today announced that it has commenced operation of a metal baler, wire stripper, and three sheers at its non-ferrous processing facility in Portsmouth, VA.

Key Points: 
  • The high capacity metal baler is capable of compacting large amounts of metal into dense bales – significantly reducing the amount of labor and cost required to process, transport, and sell copper and aluminum products.
  • By condensing more material into each load of metal it sells, the Company will be able to reduce transportation costs and realize a greater profit margin.
  • Greenwave recently completed its multi-year capex cycle, under which the Company has invested more than $15 million in its infrastructure and equipment over the past 24 months.
  • This capex cycle is expected to double its ferrous metal processing capacity from fiscal 2022 levels and result in the Company having the infrastructure to accretively scale to over 20 metal recycling facilities.

Second Automotive Shredder at Greenwave Expected to Materially Increase Carrollton Facility's Revenues Beginning in Q4 2023

Retrieved on: 
Thursday, September 28, 2023
The Company, Metal, Recycling, Greenwave

CHESAPEAKE, Va., Sept. 28, 2023 /PRNewswire/ -- Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (Nasdaq: GWAV), a leading operator of metal recycling facilities in Virginia, North Carolina, and Ohio, today announced that it expects its second automotive shredder to materially increase its Carrollton facility's revenue in Q4 2023. The Company's second automotive shredder will double Greenwave's ferrous metal processing capacity and facilitate its planned expansion to more than 20 metal recycling facilities in the coming months.

Key Points: 
  • CHESAPEAKE, Va., Sept. 28, 2023 /PRNewswire/ -- Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (Nasdaq: GWAV), a leading operator of metal recycling facilities in Virginia, North Carolina, and Ohio, today announced that it expects its second automotive shredder to materially increase its Carrollton facility's revenue in Q4 2023.
  • The Company's second automotive shredder will double Greenwave's ferrous metal processing capacity and facilitate its planned expansion to more than 20 metal recycling facilities in the coming months.
  • "Greenwave now boasts some of the most robust and technologically advanced infrastructure for processing scrap metal on the East Coast, positioning the Company for rapid expansion," stated Greenwave Chief Executive Officer, Danny Meeks.
  • "This expansion enables Greenwave to continue meeting our customers' growing demands for mill-ready shred and other recycled metals.

Greenwave Technology Solutions Announces its Shear Baler is Now Fully Operational at its Cleveland Facility

Retrieved on: 
Tuesday, September 26, 2023
The Company, Recycling, Canal, Rail transport, Greenwave

CHESAPEAKE, Va., Sept. 26, 2023 /PRNewswire/ -- Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (Nasdaq: GWAV), a leading operator of metal recycling facilities in Virginia, North Carolina, and Ohio, today announced that its recently installed shear baler is now fully operational at its Cleveland, Ohio facility. The state-of-the-art equipment is expected to significantly expand the facility's metal recycling production capacity, enabling it to significantly increase its revenues. Shear balers are highly sophisticated processing equipment within the industry, designed for efficiently shearing car bodies and heavy metals.

Key Points: 
  • CHESAPEAKE, Va., Sept. 26, 2023 /PRNewswire/ -- Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (Nasdaq: GWAV), a leading operator of metal recycling facilities in Virginia, North Carolina, and Ohio, today announced that its recently installed shear baler is now fully operational at its Cleveland, Ohio facility.
  • The state-of-the-art equipment is expected to significantly expand the facility's metal recycling production capacity, enabling it to significantly increase its revenues.
  • Shear balers are highly sophisticated processing equipment within the industry, designed for efficiently shearing car bodies and heavy metals.
  • "We believe our Cleveland facility has the potential to be one of our highest volume and most profitable facilities.

Greenwave Technology Solutions Launches Scrap App with AI Pricing Engine in Development

Retrieved on: 
Thursday, September 14, 2023
Google Play, App Store (iOS/iPadOS), AI, The Company, Recycling, Online shopping, Greenwave

CHESAPEAKE, Va., Sept. 14, 2023 /PRNewswire/ -- Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (Nasdaq: GWAV), a leading operator of metal recycling facilities in Virginia, North Carolina, and Ohio, today announced the launch of ScrapApp.com. Scrap App's mobile application has been submitted to the App Store and Google Play and Greenwave expects it will be available for download in the near future. Initially focused on junk cars, Greenwave is developing an AI pricing engine to optimize profit margins on the vehicles it purchases.

Key Points: 
  • Scrap App's mobile application has been submitted to the App Store and Google Play and Greenwave expects it will be available for download in the near future.
  • Initially focused on junk cars, Greenwave is developing an AI pricing engine to optimize profit margins on the vehicles it purchases.
  • Greenwave intends to develop Scrap App into the leading technology platform for the multi-billion dollar scrap metal industry.
  • Greenwave has formed Scrap App, Inc. as a wholly-owned subsidiary to develop and manage the Scrap App platform.

Greenwave Technology Solutions' Copper Extraction System Expected to Commence Operations in September 2023

Retrieved on: 
Tuesday, August 29, 2023
Public expenditure, Copper, Recycling, Greenwave

CHESAPEAKE, Va., Aug. 29, 2023 /PRNewswire/ -- Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (NASDAQ: GWAV), a leading operator of metal recycling facilities in Virginia, North Carolina, and Ohio, today announced that its Orbcon PTV balling mill is expected to commence operations in September 2023. The balling mill is expected to significantly increase the copper recovery yields in the downstream processing of Greenwave's automotive shred residue, adding to revenues and gross margins.

Key Points: 
  • The balling mill is expected to significantly increase the copper recovery yields in the downstream processing of Greenwave's automotive shred residue, adding to revenues and gross margins.
  • In July 2023, Greenwave commenced operation of a downstream processing system at its Kelford, NC facility, enabling the Company to recover millimeter-minus pieces of metal from Greenwave's automotive shred residue or "fluff" as it is known in the industry.
  • The shredder is expected to commence operation as soon as the electrical infrastructure is completed this quarter, and will double the Company's ferrous metal processing capacity.
  • By selling its ferrous metal as shredded, rather than unshredded, Greenwave generates approximately 33% more revenue with profit margins in excess of 60%.

Greenwave Technology Solutions Reports Third Highest Quarterly Revenues in Company History

Retrieved on: 
Tuesday, August 15, 2023
Holding, University, Metal, Harvard University, OH, Cornell Law School, Good Company (company), Harvard College, History, Pharmacyclics, Pacific Century Group, Economics, EBITDA, The Company, Intuitive Surgical, Acquisition, AbbVie, Steel, Investment, Legrand (company), Clothing, Bank, Recycling, Security (finance), Management, U.S. Steel, Greenwave

CHESAPEAKE, Va., Aug. 15, 2023 /PRNewswire/ -- Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (NASDAQ: GWAV), a leading operator of metal recycling facilities in Virginia, North Carolina and Cleveland, OH, is pleased to announce that it generated revenues of $9.46 and $18.45 million during the three and six months ended June 30, 2023, respectively, the third highest quarterly revenues in its history. Further, for the six months ended June 30, 2023, Greenwave generated positive cashflows from operating activities of $1.23 million – a new record for the greatest amount of cashflows generated by the Company during a six month period.

Key Points: 
  • "We believe there will continue to be aggressive consolidation in this industry, as demonstrated by yesterday's buyout offer of U.S. Steel.
  • Subsequent to the close of the quarter, Greenwave commenced operation of a downstream processing system at its Kelford, NC facility.
  • Additionally, Mr. Sicignano served as General Manager at NOCO Energy Corp, as well as Vice President at Kittinger Furniture Company, Inc.
  • For more information, please see the Company's Quarterly Report on Form 10-Q filed on August 14, 2023.