Greenwave Technology Solutions, Inc. (NASDAQ: GWAV)

Greenwave Technology Solutions, Inc. operates as a scrap metal recycler that collects, processes, and sells ferrous and nonferrous metal recovered from end of life vehicles, appliances, construction debris, and industrial equipment. The company uses crushing, shearing, shredding, separation, and sorting techniques to convert large metal objects into standardized scrap products that are graded by density and metal type before sale. It runs 2 American Pulverizer 60x85 automotive shredders at facilities in Kelford, North Carolina and Carrollton, Virginia, and maintains 13 recycling sites across Virginia, North Carolina, and Ohio. Headquartered in Chesapeake, Virginia, Greenwave Technology Solutions, Inc. employed 180 people as of April 7, 2025.

Revenue is generated primarily from the sale of processed ferrous metal, which includes heavy melting steel, plate and structural, and shredded scrap grades that are used by steel mills in the production of finished steel. The company also processes and sells nonferrous metals such as aluminum, copper, stainless steel, nickel, brass, titanium, lead, alloys, and mixed metal products, and it recovers catalytic converters from vehicles for resale to processors that extract platinum, palladium, and rhodium. In addition, Greenwave Technology Solutions, Inc. provides metal recycling services to a broad customer base that includes large corporations, industrial manufacturers, retail clients, and government agencies, with purchase prices tied to prevailing market rates for scrap commodities.

Greenwave Technology Solutions, Inc. competes with large well financed scrap metal recyclers, steel mills that operate their own processing facilities, and numerous smaller regional recyclers. The company believes the United States scrap metal market is consolidating and estimates it ranks among the top 25 scrap yard chains nationally, with a strong footprint in the Hampton Roads Virginia region. Its competitive advantages include high capacity shredding equipment that yields denser higher quality ferrous scrap, the ScrapApp platform for direct consumer vehicle purchases, and the recent adoption of the GreenSpark enterprise resource planning system across its facilities.

The company serves a diverse mix of customers that includes large corporations, industrial manufacturers, retail customers, and government organizations that supply end of life vehicles, appliances, construction scrap, and industrial equipment for recycling.