Government contracts, including agreements
with the U.S. Federal Government, municipalities, and contractors,
drive revenue growth
Greenwave's customers are industry
giants such as Nucor Corporation, Sims Limited, Cleveland-Cliffs,
Inc., and Georgia-Pacific
Expansion of Scrap App and hurricane recovery
contracts position Greenwave for continued growth and
leadership
Over 500,000 GWAV shares
purchased by insiders in December 2024
CHESAPEAKE,
Va., Dec. 30, 2024 /PRNewswire/ -- Greenwave
Technology Solutions, Inc. (Nasdaq: GWAV) ("Greenwave" or
the "Company"), a leading metal recycler in Virginia, North
Carolina, and Ohio, today
released revenue guidance of $43-$45 million for
fiscal year 2025.
Market-Leading Position and Growth
Catalysts:
- Key Customers: Sims Metal Management alone contributes
approximately $20M in scrap metal
purchases annually from Greenwave.
- Hurricane Helene Recovery Efforts: Contract valued at
$15-$35M through March
2026, with Core Tree Care related to a prime contract
awarded by the U.S. Army Corps of Engineers.
- Steel Industry Shift: Rising demand for high-quality
recycled metal, driven by U.S. steel producers targeting 97%
recycled material and consolidation across the sector to meet a 16
million tons capacity increase (1)(2)(3).
- Domestic Market Expansion: Domestic sales projected to
rise from 41% to 75% in 2025, up from 41%, fueled by anticipated
tariffs and trade policies. This greatly reduces the transportation
costs of its product – significantly increasing margins and free
cashflow.
- Exclusive Licenses: Greenwave's portfolio operational
licenses, often protected by grandfathered municipal codes, provide
significant barriers to entry to competitors in Greenwave's tightly
regulated markets.
Cutting-Edge Technology and Resources:
- Tech Platform Expansion: Scrap App rollout to top 25
U.S. markets in 2025; comparable platforms generated $130.7M in FY 2024 (4).
- Rare-Earth Minerals Extraction: Leveraging geopolitical
events, including China's
December 2024 export ban, to profit
from domestic extraction of critical materials like gallium,
germanium, and antimony (5).
- Strategic Location Advantages: Proximity to Naval
Station Norfolk, Port of Virginia,
and key industrial regions ensures consistent access to high-grade
scrap.
Financial Strength:
- Robust Balance Sheet: $69.58M in assets, $51.27M in shareholder equity (as of September 2024).
- De-risked Operations: Company reduced total liabilities
by $32.56M, or 64%, during the first
nine months of 2024.
- Scalable Business Model: An industry-leading American
Pulverizer 60x85 shredder and thirteen facilities supplying
high-demand recycled metals.
Positioned for Sustained Growth:
Greenwave is primed to capitalize on surging
regional infrastructure investment, growing domestic market demand
for a finite supply of recycled metal, and the rapid consolidation
of the scrap metal industry. Its strategic initiatives, combined
with over $30 million in
industry-leading equipment, position the Company to rapidly grow
its revenues and create shareholder value in FY 2025.
(1)
https://ionanalytics.com/insights/mergermarket/trash-to-treasure/
(2) https://assets.ctfassets.net/aax1cfbwhqog/1B2AplzfIpH2aiSws0qoNf/db895286e45c8b18e21b1f7e2496ea8d/NSLexington_Event_Fact_Sheet_4.6.22.pdf
(3) https://www.clevelandcliffs.com/sustainability/environment
(4) https://rocketreach.co/peddle-profile_b5ebd76df42e85ca
(5) https://www.reuters.com/markets/commodities/china-bans-exports-gallium-germanium-antimony-us-2024-12-03/
About Greenwave – One of the Mid Atlantic's
Leading Metal Recyclers
As an operator of 13 metal recycling facilities,
Greenwave Technology Solutions, Inc. (Nasdaq: GWAV) supplies
leading steel mills and industrial conglomerates with ferrous and
non-ferrous metal. With steel being one of the most recycled
materials worldwide, Greenwave supplies the raw metal utilized in
critical infrastructure projects and U.S. warships vital to
American national security interests. Headquartered in Chesapeake, VA, the Company has 167 employees
with metal recycling operations across Virginia, North
Carolina, and Ohio.
For detailed financials and updates, visit
www.GWAV.com.
Forward-looking Statements
This press release contains certain forward-looking statements
within the meaning of the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. These include, without
limitation, statements about its revenue growth, opening of
additional locations, margin expansion and cashflow projections.
These statements are identified by the use of the words "could,"
"believe," "anticipate," "intend," "estimate," "expect," "may,"
"continue," "predict," "potential," "project" and similar
expressions that are intended to identify forward-looking
statements. All forward-looking statements speak only as of the
date of this press release. You should not place undue reliance on
these forward-looking statements. Although the Company believes
that its plans, objectives, expectations and intentions reflected
in or suggested by the forward-looking statements are reasonable,
the Company can give no assurance that these plans, objectives,
expectations or intentions will be achieved. Forward-looking
statements involve significant risks and uncertainties (some of
which are beyond the Company's control), assumptions and other
factors that could cause actual results to differ materially from
historical experience and present expectations or projections.
Actual results may differ materially from those in the
forward-looking statements and the trading price for the Company's
common stock may fluctuate significantly. Forward-looking
statements also are affected by the risk factors described in the
Company's filings with the SEC. Except as required by law, the
Company undertakes no obligation to update or revise publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise, after the date on which the statements
are made or to reflect the occurrence of unanticipated events.
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SOURCE Greenwave Technology Solutions
