CHESAPEAKE, Va., Dec. 5, 2024
/PRNewswire/ -- Greenwave Technology Solutions, Inc.
(Nasdaq: GWAV), a leader in metal recycling operations across
Virginia, North Carolina, and Ohio, is set to benefit from the 2025 opening
of Nucor Corporation's state-of-the-art steelmaking facility
in Lexington, North Carolina. The
facility's staggering 430,000-ton annual processing capacity,
consisting of nearly 100% recycled materials, will significantly
increase regional demand for recycled steel.
Positioned as a Leading Supplier
Greenwave stands as one of North
Carolina's largest suppliers of recycled steel, operating
five metal recycling facilities and an industry-leading American
Pulverizer 60x85 shredder. Greenwave has a proven track record of
supporting Nucor's operations, supplying its Hertford mill with steel for critical
applications, including bridges, heavy equipment, and warships
vital to American national security interests, including the
$13 billion USS Gerald Ford aircraft
carrier.
Key Growth Drivers and Market Opportunities
- Surging Regional Infrastructure Demand: Supported by
recent federal investment, the South Atlantic Region is
experiencing an unprecedented surge in construction projects,
driving demand for recycled metals.
- Domestic Market Shift: Greenwave projects 75% of
revenue will stem from domestic sales in 2025, up from 41% over
the previous four years, as President-elect Trump's anticipated
tariffs and trade policies reshape global steel dynamics. This
transition is expected to result in significant revenue growth
and margin expansion.
- Sustainability Leadership: Operating 13 strategically
located recycling facilities, Greenwave aligns with the growing
emphasis on sustainable, domestically sourced ferrous and
non-ferrous metals vital to the U.S. defense and infrastructure
sectors.
Unlocking Shareholder Value
Greenwave's strong operational footprint and relationships with
industry leaders – Nucor Corporation, Sims Metal Management, and
Cleveland-Cliffs, Inc. – position the Company to capitalize on
robust domestic demand and favorable policy shifts. As regional
steel supply chains pivot toward sustainable and domestically
sourced metals, Greenwave is optimally positioned for rapid
growth.
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