Scrap App's AI Operator Drives Automation of Quotes,
Scheduling, and Customer Support
Company Accelerates Nationwide Expansion in 2025, Building on
Success in Key Cities
Aims to Dominate $32 Billion
Auto Recycling Industry
CHESAPEAKE, Va., Jan. 27,
2025 /PRNewswire/ -- Greenwave Technology
Solutions, Inc. (Nasdaq: GWAV) ("Greenwave" or the "Company"), a
leader in metal recycling, today announced the launch of an
advanced AI-powered operator in its subsidiary, Scrap App
(www.scrapapp.com). This innovation positions Scrap App as a
disruptive force in the fragmented $32
billion U.S. auto recycling market(1).
Transforming the Junk Car Industry with AI
Scrap App's AI Operator enables it to autonomously:
- Provide real-time quotes for junk cars.
- Schedule vehicle pickups.
- Handle customer inquiries with precision.
This automation reduces operating costs, enhances scalability,
and improves customer experience. Competing in an industry where a
leading player reported $130.7
million in FY 2024 revenue(2), Scrap App is
poised to capture significant market share.
Aggressive National Expansion
Scrap App has already established a strong presence in
Hampton Roads, Richmond, Greenville, Elizabeth City, and Cleveland. Leveraging its AI-driven,
vertically integrated model, Greenwave plans to expand Scrap App
into the top 25 U.S. markets by the end of 2025.
"Scrap App's AI technology is redefining the junk car industry,"
said Danny Meeks, CEO of Greenwave
Technology Solutions. "This innovation not only enhances
operational efficiency but also positions us as a leader capable of
scaling rapidly in a high-growth market."
Investor Takeaways
- $32 Billion Market Opportunity:
Greenwave is targeting a fragmented auto recycling industry with a
proven, scalable model(1).
- AI-Driven Cost Reduction: Automation enhances
profitability and enables rapid geographic expansion.
- Proven Success: Early market penetration validates Scrap
App's growth potential and competitive advantage.
Greenwave's focus on innovation and scalability underscores its
commitment to unlocking long-term shareholder value.
- https://www.a-r-a.org/industry-statistics.html
- https://www.zoominfo.com/c/peddle-llc/357037000
About Greenwave Technology Solutions, Inc.
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
critical role in infrastructure projects and U.S. national
security, with operations across Virginia, North
Carolina, and Ohio. For
more information, visit www.GWAV.com.
For detailed financials and updates, visit www.GWAV.com.
Forward-looking Statements
This press release contains certain forward-looking statements
within the meaning of the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. These include, without
limitation, statements about its revenue growth, opening of
additional locations, margin expansion and cashflow projections.
These statements are identified by the use of the words "could,"
"believe," "anticipate," "intend," "estimate," "expect," "may,"
"continue," "predict," "potential," "project" and similar
expressions that are intended to identify forward-looking
statements. All forward-looking statements speak only as of the
date of this press release. You should not place undue reliance on
these forward-looking statements. Although the Company believes
that its plans, objectives, expectations and intentions reflected
in or suggested by the forward-looking statements are reasonable,
the Company can give no assurance that these plans, objectives,
expectations or intentions will be achieved. Forward-looking
statements involve significant risks and uncertainties (some of
which are beyond 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 for the Company's
common stock may fluctuate significantly. Forward-looking
statements also are affected by the risk factors described in the
Company's filings with the SEC. Except as required by law, the
Company undertakes no obligation to update or revise publicly any
forward-looking statements, whether as a result of new information,
future events or otherwise, after the date on which the statements
are made or to reflect the occurrence of unanticipated events.
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SOURCE Greenwave Technology Solutions
