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The Firm’s Norfolk facility – its highest quantity yard – now has the power to buy scrap vehicles immediately from clients
Greenwave’s Norfolk Facility
CHESAPEAKE, Va., Jan. 11, 2023 (GLOBE NEWSWIRE) — Greenwave Expertise Options, Inc. (“Greenwave” or the “Firm”) (NASDAQ: GWAV), via its wholly owned subsidiary Empire Companies, Inc. (“Empire”), a number one operator of 12 metallic recycling services in Virginia and North Carolina, is happy to announce its Norfolk facility has obtained an automotive recycler/demolisher license from the Virginia Division of Motor Autos. This license allows Greenwave’s Norfolk Facility to buy scrap vehicles immediately from clients, one of many solely metallic recycling services in a position to take action within the Metropolis of Norfolk.
Greenwave opened its Norfolk facility in 2012 and has been working for the previous a number of years to acquire this license. The Firm expects that the quantity of vehicles it processes will enhance by 500 to 750 tons per thirty days now that it might buy vehicles immediately from clients at its Norfolk facility.
Additional, Greenwave is revamping its on-line automobile shopping for program, created by repurposing its legacy know-how platform, to extend the quantity of vehicles it processes. The Firm believes that by buying extra scrap automobiles immediately from shoppers, somewhat than via brokers or auctions, it would enhance its margins.
“Acquiring this license allows us to higher serve the a whole lot of firms, municipalities, small enterprise, and people who promote their scrap metallic to our Norfolk facility frequently,” said Danny Meeks, Chief Govt Officer of Greenwave. “Buying and scrapping previous vehicles is one in all Empire’s most worthwhile enterprise traces. By acquiring this license and thru the usage of know-how, we anticipate to proceed to develop the quantity of scrap automobiles we course of. We’re appreciative of Greenwave’s shareholders for his or her continued help and look ahead to reporting again on our progress.”
About Greenwave
Greenwave Expertise Options, Inc., via its wholly owned subsidiary Empire Companies, Inc. (“Empire”), is a number one operator of 12 metallic recycling services in Virginia and North Carolina. At these services, Empire collects, classifies, and processes uncooked scrap metallic (ferrous and nonferrous) for recycling. Metal is without doubt one of the world’s most recycled merchandise with the power to be re-melted and re-cast quite a few instances whereas providing important financial and environmental advantages when put next with virgin supplies. For extra data, please go to https://www.greenwavetechnologysolutions.com/. Verify us out on all social media platforms: https://twitter.com/greenwavegwav, https://www.instagram.com/greenwavegwav and https://www.youtube.com/@greenwavetechnologysolutions.
Ahead-looking Statements
This press launch incorporates sure forward-looking statements throughout the that means of the protected harbor provisions of the Non-public Securities Litigation Reform Act of 1995. These embody, with out limitation, statements about its income development, opening of further places, margin growth and cashflow projections. These statements are recognized by means of the phrases “might,” “imagine,” “anticipate,” “intend,” “estimate,” “anticipate,” “could,” “proceed,” “predict,” “potential,” “mission” and comparable expressions which are meant to determine forward-looking statements. All forward-looking statements converse solely as of the date of this press launch. You shouldn’t place undue reliance on these forward-looking statements. Though we imagine that our plans, aims, expectations and intentions mirrored in or recommended by the forward-looking statements are cheap, we may give no assurance that these plans, aims, expectations or intentions will likely be achieved. Ahead-looking statements contain important dangers and uncertainties (a few of that are past our management) and assumptions that might trigger precise outcomes to vary materially from historic expertise and current expectations or projections. Precise outcomes could differ materially from these within the forward-looking statements and the buying and selling worth for our frequent inventory could fluctuate considerably. Ahead-looking statements are also affected by the danger components described in our filings with the U.S. Securities and Alternate Fee. Besides as required by legislation, we undertake no obligation to replace or revise publicly any forward-looking statements, whether or not because of new data, future occasions or in any other case, after the date on which the statements are made or to replicate the prevalence of unanticipated occasions.
Contact Information:
757-966-1432
[email protected]
A photograph accompanying this announcement is obtainable at https://www.globenewswire.com/NewsRoom/AttachmentNg/568bcc00-3c1e-4b8a-80df-50f49711750f
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