GreenSpark – Backed by BMW i Ventures and Gaining Significant
Adoption in the Metal Recycling Sector – is Expected to Power
$GWAV's Ambitious 2025 Growth Plans
- Greenwave Supplies Industry Titans Nucor, Sims Metal,
Cleveland-Cliffs, and Georgia-Pacific with 100% U.S.-Sourced
Recycled Metals
- $GWAV Recently Raised 2025 Revenue Outlook to $47-$50 Million,
Signaling Robust Growth Resulting from President Trump's Steel and
Aluminum Tariffs
- GreenSpark's AI-Driven Platform is Focused on the
Multi-Billion-Dollar Scrap Metal Industry
CHESAPEAKE, Va., Feb. 26,
2025 /PRNewswire/ -- Greenwave Technology
Solutions, Inc. (Nasdaq: GWAV) ("Greenwave" or the "Company"), a
leading scrap metal recycling chain, today selected GreenSpark—the
metal recycling industry's fastest-growing, AI-powered operating
system—as its core platform. After an exhaustive review of top-tier
point-of-sale and ERP systems, Greenwave tapped GreenSpark's
cutting-edge technology to supercharge its operational efficiency,
accelerate revenue growth, and expand margins.
GreenSpark – Backed by BMW i Ventures – is
Expected to Power $GWAV's Ambitious 2025 Growth Plans
Founded by Goldman Sachs veteran Gordon
Driscoll, GreenSpark has closed a powerhouse ~$25 million war chest from elite investors like
BMW i Ventures, Zero Infinity Partners, Third Prime, Bienville
Capital, and Tiger Global. This underscores GreenSpark's
considerable momentum, with its customer base surging over 300% in
the past year alone. The platform's next-gen AI capabilities are
poised to redefine industry standards, unlocking unprecedented
value for operators.
Greenwave's adoption of GreenSpark—set to roll out across its
operations in early March 2025—positions the Company alongside 500+
top-tier scrap yard locations already thriving on the platform.
Serving the leading operators in metals recycling and automotive
industries, GreenSpark's scalable ecosystem aligns perfectly with
Greenwave's aggressive growth plans. Greenwave expects GreenSpark's
platform will begin contributing to revenue and margin growth in
March 2025 and compound through the
rest of 2025.
"We're incredibly excited to partner with Greenwave as they
integrate GreenSpark across their expanding operations," said
Gordon Driscoll, Founder and CEO of
GreenSpark. "Greenwave's exceptional management team has
consistently demonstrated their ability to drive growth and
operational excellence in the metal recycling industry. Together,
we're not just optimizing recycling operations—we're building a
more sustainable and efficient future for the entire metals
ecosystem. This partnership represents a significant milestone in
our journey to revolutionize how the industry operates, and we look
forward to helping Greenwave accelerate their ambitious growth
trajectory in 2025 and beyond."
With GreenSpark's AI-driven insights and Greenwave's operational
scale, the Company is primed to rapidly capture market share in the
multi-billion-dollar scrap metal industry.
About Greenwave Technology Solutions, Inc.
Greenwave
Technology Solutions, Inc. (Nasdaq: GWAV) operates 13 metal
recycling facilities supplying industry giants with 100%
U.S.-sourced steel, aluminum, copper, and other 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. The
Company was recently featured in S&P Global Commodity Insights
and BNN Bloomberg. For more information,
visit www.GWAV.com.
About GreenSpark
GreenSpark provides end-to-end,
web-based software solutions to help metal recyclers create
stronger relationships with their customers, grow revenue more
quickly, and increase profit margins. GreenSpark has raised
~$25 million in venture financing
from BMW i Ventures, Zero Infinity Partners, Third Prime, Bienville
Capital, Tiger Global, and more. For more information, visit
www.greensparksoftware.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
