Growth Being Driven by Cleveland, OH and Virginia Beach, VA Locations
Cashflows and EBITDA to be Accelerated Once its Second American Pulverizer 60x85 Shredder Commencing Operations
CHESAPEAKE, Va., May 9, 2024 /PRNewswire/ -- Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (Nasdaq: GWAV), a leading operator of metal recycling facilities in Virginia, North Carolina, and Ohio, is pleased to report that it is expecting to generate revenues exceeding $40 million during the year ended December 31, 2024. Growth is being driven by its Cleveland, OH and Virginia Beach, VA locations. The Company expects its second American Pulverizer 60x85 shredder will result in the Company being EBITDA positive and generating positive cashflows from operating activities.
"With a significantly strengthened balance sheet, I believe Greenwave is well positioned for the next phase of growth," stated Greenwave CEO Danny Meeks. "The investments we've made in Greenwave's infrastructure will facilitate significant growth in our copper and steel processing capacity, which we anticipate will create significant shareholder value."