GWAV Greenwave Technology Solutions Inc

On January 31, 2025, President Trump Stated he will be Placing Significant Tariffs on Steel, Aluminum, and Copper 

Tariffs are Expected to Drive Price Increases on Domestically-Sourced Metal

Greenwave's customers include subsidiaries of Nucor Corporation, Cleveland-Cliffs, Inc., Sims Limited, and Georgia-Pacific

CHESAPEAKE, Va., Feb. 3, 2025 /PRNewswire/ -- Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (Nasdaq: GWAV), a leader in metal recycling, is primed for significant revenue acceleration following President Trump's announcement of sweeping tariffs on steel, aluminum, and copper imports. These aggressive trade measures are expected to drive sharp price increases for domestically sourced metals, positioning Greenwave as a critical supplier in an increasingly protectionist market.

The Higher the Tariff, the More Revenue $GWAV will Likely Generate

As one of the Mid-Atlantic's dominant suppliers of mill-ready shred and other recycled metals, Greenwave anticipates surging demand and expanding profit margins throughout fiscal year 2025. With the U.S. steel and metals industry shifting toward domestic sourcing, Greenwave's strategic position in Virginia, North Carolina, and Ohio places it at the epicenter of this seismic market shift.

President Trump's Tariff Announcement Signals Game-Changing Industry Dynamics

On Friday evening, January 31, 2025, President Trump declared (link to video):

"We're going to put a lot of tariffs on steel. We already have tariffs on steel ... but that was relatively small compared to what it'll be. And ultimately copper… it'll be a great boost for our steel industry. It'll make our steel industry very strong."

Strategic Partnerships with Industry Titans

Greenwave supplies subsidiaries of Nucor Corporation, Cleveland-Cliffs, Inc., Sims Limited, and Georgia-Pacific, among others, with a reliable, high-volume flow of mill-ready metals. Sourced from a diverse, domestic network of corporations, municipalities, and individuals, Greenwave's scrap metal operations are poised to capture a significant share of the expanding domestic metals market.

With demand for American-sourced steel, aluminum, and copper set to skyrocket, Greenwave is perfectly positioned to capitalize on this historic economic shift, reinforcing its role as a key player in the North American metals supply chain.

About Greenwave
Greenwave Technology Solutions, Inc. (Nasdaq: GWAV) operates 13 metal recycling facilities supplying leading steel mills and industrial partners with sustainably sourced metals. Headquartered in Chesapeake, VA, Greenwave plays a critical role in infrastructure projects and U.S. national security, with operations across Virginia, North Carolina, and Ohio. For more information, visit www.GWAV.com.

For detailed financials and updates, visit www.GWAV.com.

Forward-looking Statements
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These include, without limitation, statements about its revenue growth, opening of additional locations, margin expansion and cashflow projections. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although the Company believes that its plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, the Company can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond the Company's control), assumptions and other factors that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results may differ materially from those in the forward-looking statements and the trading price for the Company's common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company's filings with the SEC. Except as required by law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

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SOURCE Greenwave Technology Solutions