SCRAP IS THE NEW
We’re at an Inflection Point in Greenwave's Growth
We currently operate 11 metal recycling facilities in Virginia and North Carolina which collectively generated $19.6 million in revenue for the nine months ending September 30, 2021.
We plan to aggressively expand our footprint of locations by rolling up independent, profitable scrap yards over the coming months.
Greenwave Location Footprint
(as of December 2021)
Greenwave Announces $37.7 Million Private Placement
OPTIMAL METAL MARKET CONDITIONS
We believe 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.
RECYCLED STEEL MARKET PRICE (LME)
Greenwave has redeemed all of its Series X and Y preferred shares, retired outstanding debt prior to this offering, and will utilize additional proceeds to accelerate revenue growth.
The Company believes it can meet the shareholder equity requirements of NASDAQ or NYSE without any further capital raises.
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.
In the coming weeks, we plan to apply to uplist to the NASDAQ or NYSE, as we believe a listing on a national exchange would result in a significant increase in visibility, liquidity, and institutional interest for our stock.
Simultaneously, we are rapidly expanding our footprint of metal recycling facilities both through organic growth and, we expect, through the roll-up of independent metal recycling facilities.
We believe this will result in an increase in revenues and the creation of significant shareholder value in fiscal year 2022.
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
PROFORMA REVENUE YEAR TO DATE AS OF
SEPT 30, 2021
IN NOV 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 Technology Solutions Issues 2022 Chairman’s Letter
January 13, 2022
Fully-funded after closing a $37.7 million offering, Greenwave intends to rapidly expand its footprint of metal recycling facilities, aggressively grow its revenues, and create significant shareholder value this year