Greenwave Operating Metal Processing Facility in Chesapeake, VA
January 13, 2023
Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (NASDAQ: GWAV), a leading operator of metal recycling facilities in Virginia and North Carolina, is pleased to announce it is now operating a metal processing and equipment maintenance hub in Chesapeake, VA.
Greenwave expects its profit margins on the metal processed through its Chesapeake facility will increase by 20-25% as a result of the Company preparing metal for steel mills, stripping wire and non-ferrous metals, and cutting metals to the proper size for shipping both international and domestic.
The Company’s Chesapeake location is optimally located in the heart of Hampton Roads’ maritime industry, with access to both the interstate and the Elizabeth River. Greenwave believes this facility provides the Company the infrastructure to continue its rapid expansion.
Greenwave expects to open a 14th metal recycling facility in Richmond, VA in the coming weeks.
Greenwave Technology Solutions, Inc., through its wholly owned subsidiary Empire Services, Inc. (“Empire”), is a leading operator of metal recycling facilities in Virginia and North Carolina. At these facilities, Empire collects, classifies, and processes raw scrap metal (ferrous and nonferrous) for recycling. Steel is one of the world’s most recycled products with the ability to be re-melted and re-cast numerous times while offering significant economic and environmental benefits when compared with virgin materials. For more information, please visit https://www.greenwavetechnologysolutions.com/. Check us out on all social media platforms: https://twitter.com/greenwavegwav, https://www.instagram.com/greenwavegwav and https://www.youtube.com/@greenwavetechnologysolutions.
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