The Company is on track to open two more metals recycling facilities and complete the installation of its second automotive shredder in Q4 2022 to double its metals processing capacity

CHESAPEAKE, Va., Sept. 19, 2022 (GLOBE NEWSWIRE) — Greenwave Technology Solutions, Inc. (“Greenwave” or the “Company”) GWAV, a leading operator of 11 metals recycling facilities in Virginia and North Carolina, is pleased to announce that it has appointed Ashley Sickles as its Chief Financial Officer. Ms. Sickles previously served as Finance Director at JAWS, Inc., a leading multi-location regional restaurant operator and franchisor, from June 2017 to August 2022.

Greenwave had record revenues of $10.70 million for the quarter ended June 30, 2022, an increase of 56% over the $6.88 million in revenue generated by Empire Services, Inc. for the same period in 2021 . In addition, the Company generated positive cash flows from operations of $566,238 for the six months ended June 30, 2022.

“We are grateful to Mr. Jordan, our former part-time Chief Financial Officer, for his service and professionalism to the Company over the past several months as we successfully climbed the Nasdaq,” said Danny Meeks, Greenwave’s Chief Executive Officer. “Following the conversion of $39.16 million of convertible debentures and accrued interest into common stock at $6.02 per share on July 22, 2022, Greenwave has the strongest balance sheet in its history and we believe that the company is strongly positioned to grow its revenues and profit margins in the coming quarters. We thank Greenwave shareholders for their continued trust and look forward to reporting on our progress.”

The Company is currently installing a second shredder at its Carrollton shipyard to process cars, appliances and industrial products, and a downstream system at its Kelford shipyard to process its recovery of copper, aluminium, brass, steel,…