SCRAP IS THE NEW
We’re at an Inflection Point in Greenwave's Growth
Through our subsidiary, Empire Services, Inc. ("Empire") we operate 11 metal recycling facilities in Virginia and North Carolina which collectively generated $27.75 million in revenue during 2021 and $10.70 million in revenue during Q2 2022.
We plan to aggressively expand our footprint of locations by rolling up independent, profitable scrap yards in the coming months.
Greenwave Location Footprint
(as of July 2022)
Application to Uplist
Greenwave Submits Application to Uplist to NASDAQ
OPTIMAL METAL MARKET CONDITIONS
We expect there will continue to be a strong market for recycled metals for the foreseeable future driven by:
Robust domestic and international demand;
Inflationary pressures; and
The recent passage of the Infrastructure Investment and Jobs Act.
We believe this supply/demand imbalance for recycled steel and other metals will create optimal market conditions for Greenwave for the foreseeable future.
PRICE OF COPPER (COMEX)
On May 4, 2022, the Company submitted an application to uplist to NASDAQ and believes it can meet the shareholder equity requirements without any further capital raises.
During Q2 2022, Greenwave reported revenues of $10.70 million, up 56% from Empire's revenues in the same period in 2021 and generated positive cashflows from operations.
UTILIZING TECHNOLOGY TO OPTIMIZE OPERATIONS
We have recently implemented several technologies to increase metal processing volumes and operating efficiencies, including a cloud-based ERP system to manage inventories and operations along with a website with live metal prices for each location.
We believe that these systems will create a solid foundation on which we can rapidly expand our facilities and scale our operations.
Greenwave's management has set aggressive revenue goals for the coming quarters as we begin rolling up independent, profitable metal recycling facilities.
The Company is currently installing a second automotive shredder and downstream system, which are expected to double Empire’s capacity and significantly increase its profit margins. These systems are expected to come online during summer 2022.
We have submitted an application to uplist to NASDAQ and believe we will meet its listing requirements without an additional capital raise.
Significant Environmental Benefits
STEEL IS ONE OF THE WORLD'S MOST RECYCLED MATERIALS
Unlike plastics and other materials, steel is able to be melted and re-cast countless times as it has no structural memory.
Recycling steel, rather than using virgin materials, cuts CO2 emissions by approximately 75% while utilizing approximately 70% less energy.
Currently, two out of every three tons of steel produced comes from recycling, up from one out of every ten tons in 1980.
Greenwave by the Numbers
Locations and Growing
IN NOV 2021
EMPIRE REVENUE GENERATED IN 2021
We have meaningful business relationships with many of the leading companies in the metal recycling industry, some of which have been building for nearly 20 years.
We believe consistent, honest communication with our shareholders is critical to our success.
Greenwave Reports Record Q2 2022 Revenues and Cashflows from Operations and Announces it Will Open Two New Metal Recycling Facilities Following Listing on Nasdaq
August 10, 2022
Company to Ring Nasdaq Opening Bell on August 10, 2022. The Company filed its Quarterly Report on Form 10-Q for the Second Quarter of 2022, reporting record revenues of $10.70 million and cashflows from operations of $566,238 for the 6 months ended June 30, 2022