Curated News
By: NewsRamp Editorial Staff
March 28, 2024

Greenwave Technology Solutions Driving Growth in Metal Recycling Industry

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Source News Release

TLDR

  • Greenwave Technology Solutions is aggressively expanding its footprint in the metal recycling market, positioning itself for long-term growth and potential acquisition.
  • Recycled steel can be melted and recast over and over, using 70% less energy than manufacturing new materials, and cutting CO2 emissions by about 75%.
  • The use of recycled steel contributes to a greener future, as it reduces CO2 emissions and supports the movement towards sustainable practices in manufacturing.
  • Greenwave Technology's subsidiary, Scrap App, created an AI-based quoting system for metal from construction and demolition projects, generating over $200,000 in revenue within its first 130 days of operations.

Impact - Why it Matters

The increasing demand for recycled steel, coupled with Greenwave's strategic expansion and technological advancements, reflects the broader global shift towards sustainable practices. As the company grows, it presents an opportunity for investors and stakeholders to support and benefit from the transition to a more environmentally-friendly economy. The impact of Greenwave's efforts extends beyond the company itself, contributing to the reduction of CO2 emissions and the promotion of a circular economy.

Summary

Recycling steel is a growing business as the world moves towards a greener future. Greenwave Technology Solutions Inc. is capitalizing on this trend, operating 13 metal recycling facilities in the US and launching an AI-based quoting system for metal from construction and demolition projects. With plans for expansion and aggressive acquisition of profitable scrap yards, the company is positioned for long-term growth and has reported significant revenues and cash flow. By increasing their metal processing capabilities, including the launch of new AI-powered features and the operation of a metal baler, Greenwave is set to become a leader in the recycling industry.

Source Statement

This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Greenwave Technology Solutions Driving Growth in Metal Recycling Industry

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