Greenwave Technology Solutions (GWAV) Completes Recapitalization

Greenwave Technology Solutions, Inc. (Nasdaq: GWAV) announced today the completion of its recapitalization, significantly strengthening its balance sheet.

Greenwave's Recent Highlights:

• On track to generate record revenues exceeding $40 million driven by volume of steel and copper processed in 2024
  
• Strengthened balance sheet by approximately $80.5 million since February
  
• Attracts $45.3 million in new capital infusions since March
  
• Current cash balance of over $26 million
  
• Strongest cash position in Company history
  
• Business plan is now fully funded
  
• No current need to raise additional capital
  
• Company is now in full compliance with all Nasdaq listing requirements
  
• Intends to utilize additional cash flow from operations to aggressively grow and increase processing volume
  
• Anticipates starting operations of its second shredder this summer
  
• Plans to expand its wholly-owned technology platform, ScrapApp.com, nationwide and continue AI development
  
• Plans to enhance margins of its downstream processing system with implementation of new copper extraction technology
  
• Evaluating accretive acquisitions and strategic partnerships
  
• Chairman and CEO exchanged approximately $17.2 million of debt into equity

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