Greenwave Technology Solutions Announces its Shear Baler is Now Fully Operational at its Cleveland Facility

27 September 2023

Greenwave Technology Solutions, Inc. (Nasdaq: GWAV), a prominent operator of metal recycling facilities spanning Virginia, North Carolina, and Ohio, has announced the full operational status of its recently installed shear baler at its Cleveland, Ohio facility. This state-of-the-art equipment is poised to dramatically enhance the facility's metal recycling production capacity, leading to a substantial increase in revenue. Shear balers are advanced processing machinery commonly used in the industry for efficiently shearing car bodies and heavy metals.

Danny Meeks, Chief Executive Officer of Greenwave, expressed optimism about the potential of the Cleveland facility, particularly its strategic advantage with proximity to a nearby railroad for convenient product transportation to nearby steel mills. Meeks commented, "We expect our Cleveland facility to be a significant contributor to Greenwave's revenues in the coming quarters. We believe our Cleveland facility has the potential to be one of our highest volume and most profitable facilities. We're grateful to our shareholders for their continued support and look forward to keeping investors updated on our progress."