Greenwave Technology Solutions, Inc. Wins Exclusive Government Contract for Metal Recycling

SEATTLE (Waste Advantage): Greenwave Technology Solutions, Inc., a leader in sustainable metal recycling across Virginia, North Carolina, and Ohio, announces it has been awarded an exclusive government contract for the recycling of 550,000 pounds of non-ferrous metal, estimated to boost Q4 2024 and Q1 2025 revenues by approximately $2 million.

Key Competitive Advantages

•          Extensive Footprint: Greenwave operates a footprint of 13 metal recycling facilities with significant market share, including three hubs – with two focused on processing ferrous metal and one on non-ferrous metal.
•          Barriers to Entry: A robust portfolio of operational licenses, safeguarded by municipal regulations, ensures limited competition in this highly regulated market.
•          Real Estate Investment: The recent acquisition of key facility real estate in Carrollton, Virginia Beach, Toano, along with four others, fortifies Greenwave’s position and prepares the Company for future strategic transactions.

Greenwave continues to prioritize government contracts as a cornerstone of its growth strategy, leveraging key relationships across municipal and federal sectors. Notable initiatives include:

•          Partnerships for large-scale infrastructure projects such as the Hampton Roads Bridge Tunnel expansion.
•          Agreements with numerous municipalities for recycling abandoned vehicles.
•          Contracts supporting U.S. Federal Government operations.

Located near Naval Station Norfolk, the world’s largest naval base, and the Port of Virginia, Greenwave taps into an abundant supply of prime scrap metal from defense contractors, shipyards, and logistics operations.

Courtesy: www.wasteadvantagemag.com