Greenwave Technology Solutions, Inc., a prominent player in the U.S. scrap metal recycling industry, has announced its optimistic outlook for fiscal year 2025, expecting substantial growth in revenue and profit margins. Based on its two-decade-long history in metal recycling and the significant impact of trade policies during President-elect Trump’s first term, Greenwave anticipates that ongoing tariffs on U.S. steel imports will continue to benefit its operations in the coming year. These tariffs, which increase the cost of foreign steel, have already contributed to significant price hikes for domestic recycled metals, a trend that Greenwave aims to leverage for expanded market share.
The company, which operates multiple metal recycling facilities across Virginia, North Carolina, and Ohio, sees the tariffs as a key driver of revenue growth. The U.S. scrap metal recycling industry, in which Greenwave plays a central role, witnessed considerable benefits during President Trump’s tenure, especially as his administration’s trade policies raised the cost of imported steel. As a result, the prices of domestically recycled metals surged, boosting the profitability of companies like Greenwave that supply critical materials to the steel industry.
Danny Meeks, Greenwave’s CEO, who has firsthand experience of these policies, has long understood the value of strategic market positioning. Under his leadership, Greenwave has become a significant supplier to some of the largest steel producers in the U.S., including Nucor Corporation, Cleveland-Cliffs, Inc., Sims Limited, and Georgia-Pacific. These partnerships highlight the company’s vital role in providing mill-ready shred, a processed form of scrap metal used in steel production. By sourcing scrap metal from hundreds of corporations, municipalities, and individuals across its operational regions, Greenwave ensures a reliable and consistent supply chain, which strengthens its competitive advantage.
Greenwave’s ability to consistently meet the growing demand for high-quality recycled metal is one of the reasons for its optimistic growth outlook. With the U.S. steel industry increasingly relying on domestic scrap for production, the demand for recycled ferrous and nonferrous metals has risen sharply. Greenwave’s facilities are well-equipped to meet this demand, processing raw scrap metal and turning it into materials ready for use in steel mills. As a result, the company’s operations are not only crucial to the steel industry but are also positioned to capitalize on the ongoing shift toward increased reliance on recycled materials, a key factor in reducing the industry’s environmental footprint.
The company’s recent growth is also reflective of broader industry trends. In 2024, Sims Limited, a major global recycling and resource recovery company, made a strategic move by acquiring Baltimore Steel for $220 million, signaling the value of established recycling operations with proprietary supply channels. The acquisition highlights the growing importance of companies like Greenwave that possess seasoned leadership, long-term operational experience, and reliable sources of scrap metal. Greenwave, with its experience and regional market presence, is well-positioned to benefit from these industry dynamics, which value firms with strong supply chains and expertise in the recycling process.
Greenwave’s success also lies in its diversified portfolio of subsidiaries, including its wholly owned recycling unit, Empire Services, Inc. These subsidiaries operate 13 metal recycling facilities spread across key industrial regions in the U.S., further strengthening Greenwave’s presence in the market. The company’s focus on sustainability and its contribution to a circular economy by reprocessing metal scrap into usable materials positions it as an environmentally conscious leader in the sector. As steel producers continue to prioritize the use of recycled metals to meet environmental standards and reduce production costs, Greenwave’s role becomes even more critical.
The company’s strategic position is enhanced by its consistent and reliable service to major steel producers, a key factor in maintaining long-term relationships with top-tier customers. By providing mill-ready scrap, Greenwave ensures that its partners have the materials needed to maintain high levels of steel production. As the steel industry grapples with fluctuating material costs and regulatory changes, Greenwave’s predictable supply chain and established customer base help shield the company from market volatility.
Looking ahead, Greenwave Technology Solutions is poised to continue benefiting from the favorable market conditions set in motion by U.S. trade policies. With its robust infrastructure, established leadership, and ability to respond to changing market demands, the company is well-equipped to meet the challenges and opportunities of 2025 and beyond. As demand for recycled metals continues to rise, Greenwave’s commitment to sustainability and operational excellence ensures that it will remain a key player in the U.S. recycling industry.
