Greenwave Technology Solutions (NASDAQ: GWAV), a leader in metal recycling across Virginia, North Carolina, and Ohio, announced strategic initiatives aimed at driving shareholder value. The company recently acquired real estate for seven core facilities, cutting annual rent costs by $1.7 million and improving cash flow. With a 20-year relationship with Sims Metal, generating $20.7 million in revenue in 2023 alone, Greenwave remains a trusted player in the consolidating scrap metal industry. Benchmark acquisitions in the sector, such as Sims Metal’s $220 million purchase of Baltimore Scrap Corp., highlight significant valuation potential. Positioned within a growing domestic steel market, Greenwave aims to leverage its strong operational base and industry relationships to capitalize on rising demand and policy shifts favoring sustainable, domestically sourced metals.
To view the full press release, visit https://ibn.fm/gw7u5
About Greenwave Technology Solutions Inc.
Greenwave Technology Solutions, Inc., through its wholly owned subsidiary Empire Services, Inc. (“Empire”), is an operator of 13 metal recycling facilities in Virginia, North Carolina, and Ohio. The Company’s recycling facilities collect, classify, and process raw scrap metal (ferrous and nonferrous).
NOTE TO INVESTORS: The latest news and updates relating to PLG are available in the company’s newsroom at https://ibn.fm/GWAV
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