Greenwave Technology Solutions (NASDAQ: GWAV) announced it has no immediate plans to raise capital, citing a strong financial position with approximately $10 million in cash and $7 million in current inventories. The company expects surging scrap metal prices ahead of the anticipated 25% tariffs on steel and aluminum imports set to take effect in March 2025. Greenwave has also raised its FY 2025 revenue guidance to $47-$50 million, driven by increasing demand from U.S. steel producers and secured government contracts, including exclusive agreements for recycling non-ferrous metals and municipal scrap programs. Additionally, the company anticipates growth opportunities with Nucor’s new Lexington, N.C., steelmaking facility set to open in 2025.

To view the full press release, visit https://ibn.fm/NIm3d

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

About TechMediaWire

TechMediaWire (“TMW”) is a specialized communications platform with a focus on pioneering public and private companies driving the future of technology. It is one of 70+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, TMW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists, and the general public. By cutting through the overload of information in today’s market, TMW brings its clients unparalleled recognition and brand awareness. TMW is where breaking news, insightful content and actionable information converge.

To receive SMS alerts from TechMediaWire, text “TECH” to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit https://www.TechMediaWire.com

Please see full terms of use and disclaimers on the TechMediaWire website applicable to all content provided by TMW, wherever published or re-published: https://www.TechMediaWire.com/Disclaimer

TechMediaWire
Austin, Texas
www.TechMediaWire.com
512.354.7000 Office
Editor@TechMediaWire.com

TechMediaWire is powered by IBN