Greenwave Technology Solutions, Inc. Projects $43-$45 Million Revenue in FY 2025 Driven by Market Expansion, Long-Term Contracts and Industry Demand
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/
(3) https://www.clevelandcliffs.com/sustainability/environment
(4) https://rocketreach.co/peddle-profile_b5ebd76df42e85ca
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.
SOURCE Greenwave Technology Solutions
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article