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NEWS TODAY
Greenwave Technology Solutions, Inc. Projects $43-$45 Million Revenue in FY 2025 Driven by Market Expansion, Long-Term Contracts and Industry Demand
Monday, 30th December at 9:09 am
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:
1. Key Customers: Sims Metal Management alone contributes approximately $20M in scrap metal purchases annually from Greenwave.
2. 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.
3. 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).
4. 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.
5. 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.
Monday, 30th December at 9:09 am
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:
1. Key Customers: Sims Metal Management alone contributes approximately $20M in scrap metal purchases annually from Greenwave.
2. 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.
3. 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).
4. 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.
5. 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.
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