Company Launches Trust Pilot
reviews to Boost Google Search Ranking and Optimize its
Conversion Rate
ScrapApp.com is Capturing Market
Share and Growing Revenue in Key Markets Primarily Utilizing
Cashflows Generated from Operating Activities
CHESAPEAKE, Va., Aug. 2, 2024
/PRNewswire/ -- Greenwave Technology Solutions, Inc. ("Greenwave"
or the "Company") (Nasdaq: GWAV), an operator of metal recycling
facilities in Virginia,
North Carolina, and Ohio, announced today that its wholly-owned
subsidiary, Scrap App, Inc., set a new weekly revenue record from
cars purchased through the ScrapApp.com platform from July 21 through and including July 27, 2024. Scrap App recently launched in the
Greenville, NC market as part of
its nationwide expansion.
A competitor to Scrap App reportedly generates $130.7
million in annual revenue(1). Greenwave
believes the efficiencies created by its vertical integration of
key stages of the car scrapping process could lead to significant
competitive advantages.
Scrap App recently launched Trust Pilot reviews to boost its
Google search ranking and optimize its conversion rate. Greenwave
intends to develop Scrap App into a leading technology
platform for the $42.2 billion scrap
metal industry(2).
Greenwave has generated hundreds of thousands of dollars in
revenue from cars purchased through the Scrap App platform. The
Company plans to launch Scrap App in several new markets during the
coming weeks as part of its nationwide expansion.
As of August 2, 2024, Greenwave
has approximately $20 million cash on
hand.
(1) https://rocketreach.co/peddle-profile_b5ebd76df42e85ca
(2)
https://www.ibisworld.com/industry-statistics/market-size/scrap-metal-recycling-united-states/
About Greenwave
Greenwave Technology Solutions, Inc.,
through its wholly owned subsidiary Empire Services,
Inc. ("Empire"), is an operator of 13 metal recycling
facilities in Virginia, North Carolina, and Ohio. The Company's recycling facilities
collect, classify, and process raw scrap metal (ferrous and
nonferrous).
Steel is one of the world's most recycled products with the
ability to be re-melted and re-cast numerous times. 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, 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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/greenwave-technology-solutions-scrap-app-sets-new-weekly-revenue-record-expands-to-greenville-nc-market-302213523.html
SOURCE Greenwave Technology Solutions
