Greenwave Technology Solutions is a scrap metal recycler operating 13 facilities across Virginia, North Carolina, and Ohio. The company collects and processes ferrous and nonferrous metals sourced from industrial manufacturers, retail customers, and government entities. Primary inputs include end-of-life vehicles, appliances, and construction scrap. Using automotive shredders and separation equipment, Greenwave produces graded shredded steel, aluminum, stainless steel, and copper for sale to domestic steel mills and overseas foundries. The company also extracts catalytic converters for sale to processors of platinum, palladium, and rhodium. Greenwave’s business model relies on the spread between the purchase price of unprocessed scrap and the market price of processed metal. Because both input and output prices are driven by global commodity cycles and market demand, Greenwave focuses on operational efficiency and processing volume to manage margins. The company seeks to acquire facilities with rail or deep-water port connectivity to reduce logistics costs and expand its buyer base. Formerly a cannabis-focused technology firm, Greenwave pivoted to metal recycling in 2021 by acquiring Empire Services. The company has recently faced corporate governance challenges, including recurring delays in filing financial reports and Nasdaq compliance issues.