
On January 31, 2025, President Trump announced substantial tariffs on steel, aluminum, and copper.
These tariffs are expected to increase prices for domestically produced metals.
Greenwave’s clientele includes subsidiaries of Nucor Corporation, Cleveland-Cliffs, Inc., Sims Limited, and Georgia-Pacific.
CHESAPEAKE, Va., Feb. 3, 2025 — Greenwave Technology Solutions, Inc. (“Greenwave” or the “Company”) (Nasdaq: GWAV), a leading metal recycler, anticipates substantial revenue growth following President Trump’s announcement of significant tariffs on imported steel, aluminum, and copper. These tariffs are anticipated to significantly raise prices for domestically sourced metals, making Greenwave a key supplier in a market increasingly focused on domestic production.
Higher tariffs are likely to increase $GWAV’s revenue.
As a major Mid-Atlantic supplier of mill-ready shredded and other recycled metals, Greenwave expects increased demand and higher profit margins in fiscal year 2025. With the U.S. steel and metals industry turning to domestic sources, Greenwave’s strategic locations in Virginia, North Carolina, and Ohio position it advantageously in this changing market.
President Trump’s Tariff Announcement Signals a Major Market Shift
On Friday evening, January 31, 2025, President Trump stated:
“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.”
Key Partnerships with Industry Leaders
Greenwave supplies subsidiaries of Nucor Corporation, Cleveland-Cliffs, Inc., Sims Limited, and Georgia-Pacific, among others, with a consistent, large supply of mill-ready metals. Sourced from a diverse, domestic network of corporations, municipalities, and individuals, Greenwave’s scrap metal operations are set to capture a significant portion of the expanding domestic metals market.
With demand for American-made steel, aluminum, and copper expected to surge, Greenwave is ideally positioned to benefit from this economic shift, solidifying its position as a major 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 vital role in infrastructure projects and U.S. national security, with operations across Virginia, North Carolina, and Ohio. For more information, visit .
For detailed financials and updates, visit .
Forward-looking Statements
This press release contains forward-looking statements as defined in the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These include, but are not limited to, statements regarding revenue growth, expansion plans, margin improvement, and cash flow projections. These statements are identified by words such as “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project,” and similar terms. All forward-looking statements are current only as of the date of this release. Do not place undue reliance on these forward-looking statements. While the Company believes its plans, objectives, expectations, and intentions reflected in or suggested by the forward-looking statements are reasonable, it cannot guarantee achievement of these plans, objectives, expectations, or intentions. Forward-looking statements involve significant risks and uncertainties (some outside 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 of the Company’s common stock may fluctuate significantly. Forward-looking statements are also subject to the risk factors described in the Company’s SEC filings. Except as required by law, the Company is not obligated to update or revise publicly any forward-looking statements, whether due to new information, future events, or otherwise, after the date the statements are made, or to reflect unforeseen events.
SOURCE Greenwave Technology Solutions
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