The Company has secured the licenses and permits to open its Fairmont, NC facility on or about January 12, 2022 and is expected to immediately contribute to its revenue growth
Greenwave Technology Solutions, Inc. (“Greenwave” or the “Company”) (OTCPink:MSRT) is pleased to report it plans to open its 12th metal recycling facility in Fairmont, NC on or about January 12, 2022. The opening of this new facility will expand the Company’s footprint to southern North Carolina as Greenwave plans to rapidly grow its metal processing volumes and revenue during 2022.
With the recent closing of our $37.7 million offering, Greenwave is fully funded and positioned to rapidly expand the number of metal recycling facilities we operate, both through organic growth and roll-ups,” stated Danny Meeks, Chief Executive Officer of Greenwave. “Demand for steel is expected to continue increasing, especially with the recent passage of the Infrastructure Investment and Jobs Act while supply of prime scrap has been consistently shrinking for several years. We believe this supply/demand imbalance for recycled steel and other metals creates an optimal market environment for Greenwave to continue its expansion.”
Over the coming months, the Company plans to roll-up independent, profitable scrap metal facilities to accelerate its revenue growth and create shareholder value. Greenwave is in the final stages of preparing its formal application to uplist to the NASDAQ or NYSE, as the Company believes a listing on a national exchange would result in a significant increase in visibility, liquidity, and institutional interest for its stock.
Source: Company Press Release