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%.
Retrieved on:
Thursday, August 24, 2023
CHESAPEAKE, Va., Aug. 24, 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 notification that it has regained compliance with Nasdaq listing requirements.
Key Points:
- CHESAPEAKE, Va., Aug. 24, 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 notification that it has regained compliance with Nasdaq listing requirements.
- In a letter dated August 18, 2023, Nasdaq informed the Company that it has achieved compliance with the minimum bid price rule required for continued listing on the Nasdaq Capital Market.
CHESAPEAKE, Va., Aug. 21, 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, Ohio, is pleased to announce that it has entered into a definitive agreement with certain institutional and accredited investors for the purchase and sale of 2,511,166 shares of common stock in a registered direct offering priced at $1.27 per share and accompanying warrant, resulting in gross proceeds to the Company of $3.2 million, before deducting the placement agent's fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from this offering for the expansion of its metal recycling operations, accretive acquisitions, and general corporate purposes.
Key Points:
- The Company intends to use the net proceeds from this offering for the expansion of its metal recycling operations, accretive acquisitions, and general corporate purposes.
- The Special Equities Group, a division of Dawson James Securities Inc., is acting as the sole placement agent for this transaction.
- The offering of such shares of common stock in the registered direct offering is being made only by means of a prospectus supplement, forming a part of the effective registration statement.
- A final prospectus supplement and accompanying base prospectus relating to the registered direct offering will be filed with the SEC.
Holding,
University,
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Harvard University,
OH,
Cornell Law School,
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History,
Pharmacyclics,
Pacific Century Group,
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EBITDA,
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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.
Retrieved on:
Thursday, August 10, 2023
Holding,
University,
Harvard University,
OH,
Cornell Law School,
Harvard College,
Pacific Century Group,
Pharmacyclics,
Economics,
The Company,
Intuitive Surgical,
Acquisition,
AbbVie,
Growth,
Investment,
Intuition,
Management,
Greenwave CHESAPEAKE, Va., Aug. 10, 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 has appointed Henry Sicignano III and Jason Adelman to its Board of Directors.
Key Points:
- Jason Adelman has significant experience in corporate governance, mergers and acquisition advisory and emerging growth company investing.
- CHESAPEAKE, Va., Aug. 10, 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 has appointed Henry Sicignano III and Jason Adelman to its Board of Directors.
- Mr. Sicignano currently serves as the President of Charlie's Holdings, Inc., a publicly traded consumer products company with sales in more than 90 countries.
- He currently serves on the board of directors of Kartoon Studios and served on the board of directors of Anandia Laboratories, Inc. until it was acquired in 2018.
CHESAPEAKE, Va., Aug. 3, 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 has commenced operation of a downstream processing system at its Kelford, NC facility. The downstream processing system recovers millimeter-minus pieces of metal from Greenwave's automotive shred residue or "fluff" as it is known in the industry.
Key Points:
- Greenwave expects to generate positive cashflows from operations and positive EBITDA for the year ending December 31, 2023.
- CHESAPEAKE, Va., Aug. 3, 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 has commenced operation of a downstream processing system at its Kelford, NC facility.
- Greenwave formally opened its Cleveland metal recycling facility in April 2023 and is currently generating approximately $100,000 in revenue per month.
- Given these factors, Greenwave expects the monthly revenue generated by its Cleveland facility will ramp to over $500,000 per month in 2024.
CLEVELAND, April 5, 2023 /PRNewswire/ -- Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (NASDAQ: GWAV), a leading operator of metal recycling facilities in Virginia and North Carolina, is pleased to share that it has officially opened its Cleveland, Ohio facility.
Key Points:
- CLEVELAND, April 5, 2023 /PRNewswire/ -- Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (NASDAQ: GWAV), a leading operator of metal recycling facilities in Virginia and North Carolina, is pleased to share that it has officially opened its Cleveland, Ohio facility.
- Greenwave Technology Solutions, Inc. secured the property formerly occupied by JBI Scrap Processors on East 55th Street in Cleveland in February 2023.
- The new scrap metal recycling facility is located on a ten-acre site on Cleveland's east side in the Evergreen neighborhood.
- Greenwave generated over $3 million in revenue for March 2023, and expects to continue generating similar revenue levels for the foreseeable future.
Retrieved on:
Wednesday, February 15, 2023
CHESAPEAKE, Va., Feb. 15, 2023 (GLOBE NEWSWIRE) -- 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 announce that it has secured the property formerly occupied by JBI Scrap Processors on East 55th Street in Cleveland, Ohio to open a scrap metal recycling facility.
Key Points:
- CHESAPEAKE, Va., Feb. 15, 2023 (GLOBE NEWSWIRE) -- 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 announce that it has secured the property formerly occupied by JBI Scrap Processors on East 55th Street in Cleveland, Ohio to open a scrap metal recycling facility.
- The Company expects its Cleveland, Ohio facility will generate significant revenues and positive cashflows from operations during fiscal year 2023.
- The property has access to the adjoining railroad to easily transport the scrap metal it processes and hundreds of local businesses and individuals are accustomed to selling their metal scrap to facilities in the same vicinity on a regular basis.
- Greenwave is currently training employees on its processes and procedures, on-boarding the facility to the cloud-based enterprise resource planning software it utilizes, and expects to begin operations by February 28, 2023.
CHESAPEAKE, Va., Jan. 30, 2023 (GLOBE NEWSWIRE) -- Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (NASDAQ: GWAV), a leading operator of metal recycling facilities in Virginia and North Carolina, is pleased to share that it expects optimal market conditions for scrap metal recycling throughout 2023 and for the foreseeable future, with prices for many of Greenwave’s products near record highs.
Key Points:
- CHESAPEAKE, Va., Jan. 30, 2023 (GLOBE NEWSWIRE) -- Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (NASDAQ: GWAV), a leading operator of metal recycling facilities in Virginia and North Carolina, is pleased to share that it expects optimal market conditions for scrap metal recycling throughout 2023 and for the foreseeable future, with prices for many of Greenwave’s products near record highs.
- Over the past twelve months, Greenwave has invested over $10 million in its scrap metal processing infrastructure, which is expected to double the Company’s scrap metal processing capacity and significantly increase its margins, once all systems are online.
- Greenwave’s second automotive shredder and downstream processing system are on schedule to commence operations during the first quarter of 2023, resulting in the Company having the infrastructure to economically support significant expansion.
- We believe the infrastructure investments we’ve made these past several months will likely create significant shareholder value in 2023.”
Retrieved on:
Thursday, January 26, 2023
During the year ended December 31, 2021, Greenwave received 83% of its revenues from one customer.
Key Points:
- During the year ended December 31, 2021, Greenwave received 83% of its revenues from one customer.
- Further, at the Company’s Chesapeake facility, Greenwave has been optimizing its processes and procedures for loading containers for shipments both international and domestic.
- Further, Greenwave is pleased to announce that an institutional investor has converted the entirety of its shares of Series Z Preferred Stock.
- Mr. Danny Meeks, Chairman and Chief Executive Officer of Greenwave, is the sole holder of the remaining shares of Series Z Preferred Stock, the only class of preferred stock outstanding.
