Greenwave Expanding Metal Recycling Capabilities

Greenwave Technology Solutions Inc. is significantly expanding its operations with two new metal recycling facilities, new trucks, and an online car buying program.

 The Suffolk, Va.-based recycler currently operates 11 facilities in Virginia and North Carolina through its subsidiary Empire Services Inc.

This month, its 12th facility will open in Fairmont, N.C., and in December, a 13th facility will open in Richmond, Va.

Additionally, Greenwave’s second automotive shredder in Norfolk, Va., is expected to become operational next month.

Greenwave is also expanding its truck fleet with the purchase of 23 new vehicles to haul scrap directly to its steel mill clients. An additional 20 trucks are expected to be delivered in February, bringing its fleet total to 57 trucks.

The company is repurposing an existing technology platform to launch an online car buying program, which it says will increase its buying power in the automotive market. “Less auto auctions and more direct consumer purchases will yield higher net profits,” Greenwave stated.

Greenwave’s website lists Nucor Corp. and Sims Metal Management as two companies with which it has “meaningful business relationships.”

By Laura Miller, Laura@SteelMarketUpdate.com