Greenwave Technology Solutions Reports Third Highest Quarterly Revenues in Company History

Key Facts

Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (NASDAQ: GWAV), a leading operator of metal recycling facilities in Virginia, North Carolina and Cleveland, OH, is pleased to announce that it generated revenues of $9.46 and $18.45 million during the three and six months ended June 30, 2023, respectively, the third highest quarterly revenues in its history.
As Greenwave continues to optimize the operation of its downstream processing system, and brings a copper extraction component online, revenues generated by its downstream processing system could exceed $1 million per month by the end of 2023.
- Greenwave no longer has any shares of preferred stock outstanding – in July 2023, the Company issued shares of common stock to fully satisfy and retire the Company's Series Z Preferred Stock, previously owned by Greenwave's Chairman Danny Meeks.
Mr. Adelman was the lead banker in Computer Motion's merger with Intuitive Surgical and was a member of the board of directors of Pharmacyclics prior to its acquisition by Abbvie for over $20 billion.