Greenwave Technology expects optimal market conditions in 2023

Greenwave Technology Solutions shares that it expects optimal market conditions for scrap metal recycling throughout 2023 and for the foreseeable future, with prices for many of Greenwave’s products near record highs. As stated in the Goldman Sachs Research Report 2023 Commodity Outlook: An Underinvested Supercycle dated December 14, 2022, "From a fundamental perspective, the setup for most commodities next year is more bullish than it has been at any point since we first highlighted the supercycle in October 2020." Driven by depleted global inventories, lack of capex investments to create new supply sources, and increasing demand from China, it is widely expected that commodity prices will rise in 2023. Over the past twelve months, Greenwave has invested over $10M in its scrap metal processing infrastructure, which is expected to double the Company’s scrap metal processing capacity and significantly increase its margins, once all systems are online. Greenwave’s second automotive shredder and downstream processing system are on schedule to commence operations during the first quarter of 2023, resulting in the Company having the infrastructure to economically support significant expansion.