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Press Release

Greenwave Technology Solutions Regains Compliance with Nasdaq Listing Standards

Published by Todd Bush on August 24, 2023

CHESAPEAKE, Va., Aug. 24, 2023 /PRNewswire/ -- Greenwave Technology Solutions, Inc. ("Greenwave" or the "Company") (NASDAQ: GWAV), a leading operator of metal recycling facilities in Virginia, North Carolina, and Ohio, today announced notification that it has regained compliance with Nasdaq listing requirements.

In a letter dated August 18, 2023, Nasdaq informed the Company that it has achieved compliance with the minimum bid price rule required for continued listing on the Nasdaq Capital Market.

>> Additional Reading: B.C. Government and Industry Partners Working to Develop Hydrogen as a Low-carbon Energy Option for Families and Businesses

About Greenwave

Greenwave Technology Solutions, Inc., through its wholly owned subsidiary Empire Services, Inc. ("Empire"), is a leading operator of 13 metal recycling facilities in Virginia, North Carolina, and Ohio. The Company's recycling facilities collects, classifies, and processes raw scrap metal (ferrous and nonferrous) and implements several unique technologies to increase metal processing volumes and operating efficiencies, including a cloud-based ERP system to manage inventories and operations. Steel is one of the world'ss most recycled products with the ability to be re-melted and re-cast numerous times.

Greenwave's approach to steel recycling provides key environmental benefits over virgin metals, including reduced energy use, lower CO2 emissions, lower waste, and conserving natural resources. Greenwave's customers include large corporations, industrial manufacturers, retail customers, and government organizations. The Company plans to aggressively expand its footprint of locations by acquiring independent, profitable scrap yards in the coming months. For more information, please visit www.GWAV.com.

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