Greenwave Technology Solutions, Inc.

Greenwave Technology Solutions, Inc. operates in the scrap metal recycling industry. The company was initially formed on April 26, 2013, as a technology platform developer under the name MassRoots, Inc., and changed its corporate name to Greenwave Technology Solutions, Inc. in October 2021. On September 30, 2021, the company acquired Empire Services, Inc., which became effective on October 1, 2021. This acquisition marked Greenwave Technology Solutions' transition into the scrap metal industry. The company collects, classifies, and processes various items, including appliances, construction material, end-of-life vehicles, boats, and industrial machinery. These items are processed through crushing, shearing, shredding, separating, and sorting into smaller pieces. Recycled ferrous, nonferrous, and mixed metal pieces are categorized based on density and metal before sale. For scrap cars, catalytic converters, aluminum wheels, and batteries are removed for separate processing and sale prior to shredding. The company operates 13 metal recycling facilities located in Virginia, North Carolina, and Ohio. It utilizes two American Pulverizer 60x85 automotive shredders, one at its Kelford, North Carolina facility and another at its Carrollton, Virginia yard. These shredders, combined with advanced separation equipment, produce denser and more refined recycled ferrous metals. The process reduces large metal objects into baseball-sized pieces of shredded recycled metal. Magnetized drums separate ferrous metal from mixed nonferrous metal and residue. Nonferrous metals undergo additional mechanical systems for separation and are further sorted by type, grade, and quality before being sold as products like zorba (mainly aluminum), zurik (mainly stainless steel), and shredded insulated wire (mainly copper and aluminum).