Tariffs Expected to Drive 10-20% Revenue
Growth on Metal Products with 40-45% Gross Profit Margins
Greenwave Supplies 100% Domestically-Sourced
Steel, Aluminum, Copper, and Rare-Earth Metals to Industry
Titans
Company in Active Negotiations with
Multiple Entities Seeking Access to its High-Volume Flow of
Mill-Ready Metals
CHESAPEAKE, Va.,
Feb. 4,
2025 /PRNewswire/ -- Greenwave Technology Solutions,
Inc. ("Greenwave" or the "Company") (Nasdaq: GWAV), a leader in
metal recycling, is raising revenue guidance to $47–$50 million for
FY 2025 following President Trump's announcement of sweeping
tariffs on steel, aluminum, and copper imports.
GWAV Supplies 100% Domestically-Sourced
Steel, Aluminum, Copper, and Rare-Earth Metals to Industry
Titans
Greenwave supplies 100% domestically-sourced steel, aluminum,
copper, and rare-earth metals to industry titans.
The Company is in active negotiations with multiple entities
seeking access to its high-volume, mill-ready metal supply.
About Greenwave
Greenwave Technology Solutions,
Inc. (Nasdaq: GWAV) operates 13 metal recycling facilities
supplying leading steel mills and industrial partners with
domestically-sourced metals. Headquartered in Chesapeake, VA, Greenwave plays a critical
role in infrastructure projects and U.S. national security, with
operations across Virginia,
North Carolina, and Ohio. For more information,
visit www.GWAV.com.
For detailed financials and updates, 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, without
limitation, statements about its revenue growth, opening of
additional locations, margin expansion and cashflow projections.
These statements are identified by the use of the words "could,"
"believe," "anticipate," "intend," "estimate," "expect," "may,"
"continue," "predict," "potential," "project" and similar
expressions that are 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 the Company believes
that its plans, objectives, expectations and intentions reflected
in or suggested by the forward-looking statements are reasonable,
the Company can give no assurance that these plans, objectives,
expectations or intentions will be achieved. Forward-looking
statements involve significant risks and uncertainties (some of
which are beyond the Company's control), assumptions and other
factors that could cause actual results to differ materially from
historical experience and present expectations or projections.
Actual results may differ materially from those in the
forward-looking statements and the trading price for the Company's
common stock may fluctuate significantly. Forward-looking
statements also are affected by the risk factors described in the
Company's filings with the SEC. Except as required by law, the
Company undertakes no obligation to update or revise publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise, after the date on which the statements
are made or to reflect the occurrence of unanticipated events.
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SOURCE Greenwave Technology Solutions
