Greenwave Technology’s second shredder being connected to power grid

Greenwave Technology Solutions (GWAV) announced that Dominion Energy (D) is currently in the process of connecting its second automotive shredder to the power grid which is expected to be completed by March 29, 2024. The Company’s second automotive shredder is expected to commence operations shortly thereafter and double Greenwave’s annual shredded ferrous output. “Greenwave’s second shredder provides the infrastructure for us to expand our footprint of metal recycling facilities up from 13 currently – significantly growing Greenwave’s revenues, margins, and free cashflow,” stated Greenwave CEO Danny Meeks. “We believe the market is significantly undervaluing Greenwave and firmly believe that by continuing our hub-and-spoke strategy of shredder hubs with feeder yards, we will become an increasingly attractive acquisition target of the major scrap metal conglomerates.”