CHESAPEAKE, Va., May 9, 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, is pleased to report that it is expecting to generate revenues exceeding $40 million during the year ended December 31, 2024. Growth is being driven by its Cleveland, OH and Virginia Beach, VA locations. The Company expects its second American Pulverizer 60x85 shredder will result in the Company being EBITDA positive and generating positive cashflows from operating activities.
Key Points:
- Growth is being driven by its Cleveland, OH and Virginia Beach, VA locations.
- The Company expects its second American Pulverizer 60x85 shredder will result in the Company being EBITDA positive and generating positive cashflows from operating activities.
- "With a significantly strengthened balance sheet, I believe Greenwave is well positioned for the next phase of growth," stated Greenwave CEO Danny Meeks.
- "The investments we've made in Greenwave's infrastructure will facilitate significant growth in our copper and steel processing capacity, which we anticipate will create significant shareholder value."
CHESAPEAKE, Va., May 7, 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, is pleased to report its Chairman and Chief Executive Officer, has exchanged an aggregate of approximately $17.22 million in debt into equity comprised of (i) $10.00 million in debt exchanged for shares of Series D Preferred Stock and (ii) $7.22 million in debt exchanged into common stock at $0.1167 per share.
Key Points:
- CHESAPEAKE, Va., May 7, 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, is pleased to report its Chairman and Chief Executive Officer, has exchanged an aggregate of approximately $17.22 million in debt into equity comprised of (i) $10.00 million in debt exchanged for shares of Series D Preferred Stock and (ii) $7.22 million in debt exchanged into common stock at $0.1167 per share.
- "Over the past several weeks, we have significantly strengthened Greenwave's balance sheet and positioned the Company for the next phase of its growth," stated Greenwave CEO Danny Meeks.
- "I believe exchanging my debt into equity further aligns me with all shareholders and reflects the confidence I have in our business and growth strategy."
- For more information, please see the Company's Current Reports on Form 8-K filed with the U.S. Securities and Exchange Commission on April 2, 2024 and April 22, 2024.
CHESAPEAKE, Va., April 23, 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 today that on April 22, 2024, it further strengthened its balance sheet by approximately $12 million.
Key Points:
- CHESAPEAKE, Va., April 23, 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 today that on April 22, 2024, it further strengthened its balance sheet by approximately $12 million.
- Plans to expand its wholly-owned technology platform, ScrapApp.com, into new markets and continue AI development
Seeks to accelerate efforts in social media, digital marketing and data analytics
For more information, please see the Company's Current Reports on Form 8-K filed with the U.S. Securities and Exchange Commission on April 22, 2024, April 2, 2024, and March 18, 2024.
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.
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 is one of the first companies to utilize artificial intelligence in the $42.3 billion U.S. scrap metal industry(1). Scrap App has generated hundreds of thousands of dollars in revenue from end-of-life vehicles in the limited markets in which it's currently available -- Hampton Roads, VA, Richmond, VA, and Cleveland, OH.
Key Points:
- Scrap Metal Industry(1)
CHESAPEAKE, Va., March 26, 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 today that its wholly-owned subsidiary, Scrap App, Inc. ("Scrap App") has launched new AI-powered features to optimize pricing and sales.
- Greenwave is one of the first companies to utilize artificial intelligence in the $42.3 billion U.S. scrap metal industry(1).
- "We plan to expand Scrap App to multiple new markets across the United States in the coming weeks," stated Greenwave Chairman and CEO Danny Meeks.
- We believe Scrap App has the potential to generate significant, high-margin revenue and create value for Greenwave shareholders."
CHESAPEAKE, Va., March 25, 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 Dominion Energy is currently in the process of connecting its second automotive shredder to the power grid which is expected to be completed by March 29, 2024. The Company's second automotive shredder is expected to commence operations shortly thereafter and double Greenwave's annual shredded ferrous output.
Key Points:
- The Company's second automotive shredder is expected to commence operations shortly thereafter and double Greenwave's annual shredded ferrous output.
- Greenwave's existing automotive shredder – an American Pulverizer 60x85 – is the same make and model as its second one, providing the Company expertise in its operation and maintenance.
- By shredding the steel Greenwave currently sells unshredded, the Company anticipates that it will be able to generate approximately 25-30% more revenue with significant margins on that steel volume.
- Greenwave is on track to grow it revenues and volume of steel processed from 2023 levels in 2024.
CHESAPEAKE, Va., March 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 successfully restructured its senior secured debt to facilitate growth. The senior secured note holders have waived the quarterly-cash covenants until September 30, 2024, as well as monthly amortization payments until July 31, 2024.
Key Points:
- Company Not Required to Make Cash Payments on Senior Secured Notes until July 31, 2024
Quarterly-Cash Covenants Waived until September 30, 2024
CHESAPEAKE, Va., March 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 successfully restructured its senior secured debt to facilitate growth.
- Greenwave expects to generate record revenues based upon a record volume of steel processed thus far in 2024.
- The Company expects to utilize the additional cashflows from restructuring its debt to aggressively grow its operations.
- "We appreciate the continued support of our shareholders and debtholders at this inflection point in Greenwave's growth," stated Greenwave CEO Danny Meeks.
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.
Retrieved on:
Thursday, February 15, 2024
CHESAPEAKE, Va., Feb. 15, 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 it received notification from Dominion Energy that its second automotive shredder is scheduled to be connected to the power grid no later than April 9, 2024 and will commence operations shortly thereafter. The Company's second automotive shredder is expected to double Greenwave's ferrous metal processing capacity.
Key Points:
- CHESAPEAKE, Va., Feb. 15, 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 it received notification from Dominion Energy that its second automotive shredder is scheduled to be connected to the power grid no later than April 9, 2024 and will commence operations shortly thereafter.
- The Company's second automotive shredder is expected to double Greenwave's ferrous metal processing capacity.
- Greenwave's existing automotive shredder – an American Pulverizer 60x85 – is the same make and model as its second one, providing the Company expertise in its operation and maintenance.
- Greenwave is on track to generate record revenues with record volume of steel processed in 2024.
