ScrapApp.com is currently richmond National Capital Region – third largest metropolitan area in the Commonwealth of Nations Virginia – Allow people to get paid for their used cars

Currently available in 3 markets – Hampton Roads, Virginia, Richmond, Virginiaand cleveland ohio – Greenwave generates hundreds of thousands of dollars in revenue from used vehicles purchased through the Scrap app

Greenwave plans to release Scrap App to multiple new markets in the coming weeks

Chesapeake, Virginia, March 4, 2024 /PRNewswire/ — Greenwave Technology Solutions, Inc. (“Greenwave” or the “Company”) (Nasdaq: GWAV) is a leading operator of metal recycling facilities in the United States. Virginia, north carolinaand Ohiotoday announced that its wholly owned subsidiary, Scrap App, Inc. (“Scrap App”), richmond Third largest metropolitan area in the British Commonwealth Virginia. The Scrap app is also available in: Hampton Roads, Virginia and cleveland ohio market. Greenwave generates hundreds of thousands of dollars in revenue from used vehicles purchased through the Scrap App.

Greenwave plans to expand into multiple new markets in the coming weeks and believes the efficiencies created by vertical integration of key stages of the auto scrapping process can create a significant competitive advantage. Scrap App's competitors reportedly generated $159 million in annual revenue.(1).

Scrap App uses a lean startup methodology and primarily leverages cash flow generated from operating activities to expand its business. Greenwave plans to leverage its extensive expertise. $41.4 billion metal scrap industry(2) Develop your Scrap App into an industry-leading technology platform.

  1. https://rocketreach.co/peddle-profile_b5ebd76df42e85ca
  2. https://www.ibisworld.com/united-states/market-research-reports/scrap-metal-recycling-industry/

About Green Wave

Greenwave Technology Solutions, Inc., through its wholly owned subsidiary Empire Services, Inc. (“Empire”), is a leading operator of 13 metal recycling facilities in Virginia, North Carolina, and Virginia. Ohio. The company's recycling facilities collect, sort, and process raw scrap metal (ferrous and non-ferrous) and utilize several systems to increase metal throughput and operational efficiency, including a downstream recovery system and a cloud-based ERP system. We have introduced unique technology.

Steel is one of the most recycled products in the world and can be remelted and recast many times. Recycling steel offers important environmental benefits compared to virgin metal, including reduced energy use, reduced CO2 emissions, reduced waste, and conservation of natural resources. Greenwave's customers include large corporations, industrial manufacturers, retail customers, and government agencies. The company plans to aggressively expand its footprint by acquiring independent and profitable scrapyards in the coming months. For more information, please visit www.GWAV.com.

Forward-looking statements

This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These include, but are not limited to, statements regarding revenue growth, opening of additional locations, margin expansion and cash flow projections. These statements include “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” and “forecast.” Identified by the use of words such as ”, “may”, and “could”. “Project” and similar expressions intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or implied by the forward-looking statements are reasonable, we do not believe that these plans, objectives, expectations or intentions will be achieved. We cannot give you that guarantee. Forward-looking statements involve significant risks and uncertainties, some of which are beyond our control, that could cause actual results to differ materially from past experience and current expectations and projections. ), assumptions and other factors. Actual results may differ materially from those in forward-looking statements, and the trading price of our common stock may fluctuate significantly. Forward-looking statements are also affected by the risk factors described in the Company's filings with the SEC. Except as required by law, we do not intend to make any forward-looking statements, whether as a result of new information, future events or otherwise, We undertake no obligation to publicly update or revise it to reflect. An unexpected event.

SOURCE Greenwave Technology Solutions



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