On December 3,
2024, China banned the
export of gallium, germanium, and antimony to the United States – vital minerals utilized in
the production of semiconductors, solar panels, and electric car
batteries
The Company expects to generate significant
revenue in FY 2025 through the efficient extraction of these
rare-earth minerals from vehicles, appliances, equipment, and heavy
machinery
Greenwave believes its proprietary
rare-earth metal recovery initiative is a
"catalytic converter-level" opportunity, with breakthrough
technologies unlocking the profitable recovery of rare and
high-value metals historically overlooked by the recycling
industry
CHESAPEAKE, Va., Dec. 18,
2024 /PRNewswire/ -- Greenwave Technology Solutions,
Inc. (Nasdaq: GWAV) ("Greenwave" or the "Company"), a leading metal
recycler in Virginia, North Carolina, and Ohio, announced today it is accelerating the
recovery of rare-earth metals from appliances, equipment, heavy
machinery, and vehicles – capitalizing on surging global demand and
escalating geopolitical tensions.
Greenwave views its proprietary rare-earth metal
recovery initiative as a "catalytic converter-level"
opportunity, with breakthrough technologies unlocking
the profitable recovery of rare and high-value metals
historically overlooked by the recycling industry.
Following China's December 2024 ban on exporting gallium,
germanium, and antimony to the United States—key materials for
semiconductors, solar panels, and EV batteries—Greenwave has
fast-tracked its rare-earth recycling initiatives. Positioned near
Naval Station Norfolk and the Port of Virginia, Greenwave' wholly-owned
recycling facilities leverage access to high-quality scrap
metal sourced from defense contractors, shipyards, and
logistics hubs, securing a strategic advantage in the metals
market.
Market-Leading Differentiation and Revenue Growth
Potential
In addition to the growth projected in the Company's legacy
business lines, Greenwave anticipates robust FY 2025 revenue growth
related to the Company's efficient recycling of rare-earth minerals
from end-of-life vehicles, appliances, heavy machinery, and
industrial equipment. Greenwave's comprehensive recovery processes
target high-demand materials:
- Antimony (for battery alloys and industrial
applications): Recycled from lead-acid batteries, mine tailings,
and flame-retardant plastics.
- Germanium (for optics, semiconductors, and medical
devices): Extracted from infrared systems, lenses, and spent
electronic components.
- Gallium (critical for semiconductors and renewable
energy): Recovered from solar cells, LED manufacturing scrap, and
electronic waste.
Strategic Investments Drive Market Leadership
With cutting-edge technology, robust supply channels, and scalable
processes, Greenwave is positioned to become a market leader in
rare-earth recovery. The Company's strategic investments in
advanced recycling equipment and specialized workforce training aim
to optimize recovery yields and to solidify Greenwave's competitive
edge.
Investor Highlights
- Positioned for sustained growth amid critical material
shortages.
- Strategically located to capitalize on military and industrial
supply chains.
- Uniquely focused on high-value metals with growing global
demand.
Greenwave's twenty years of operating experience in the scrap
metal industry, combined with the Company's extensive footprint,
grandfathered licenses, and strong relationships with key suppliers
provide unique and compelling competitive advantages. The Company
intends to utilize its unique position in the industry to become a
leader in the recovery of rare earth metals.
About Greenwave – One of the Mid Atlantic's Leading
Metal Recyclers
As an operator of 13 metal recycling facilities, Greenwave
Technology Solutions, Inc. (Nasdaq: GWAV) supplies leading steel
mills and industrial conglomerates with ferrous and non-ferrous
metal. With steel being one of the most recycled materials
worldwide, Greenwave supplies the raw metal utilized in critical
infrastructure projects and U.S. warships vital to American
national security interests. Headquartered in Chesapeake, VA, the Company has 167 employees
with metal recycling operations across Virginia, North
Carolina, and Ohio.
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.
Contact Info:
(800) 490-5020
Info@GWAV.com
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SOURCE Greenwave Technology Solutions
