Recycling Metal Stocks – (NASDAQ: $GWAV) (NYSE: $LICY)
(NASDAQ: $RDUS) (NASDAQ: $STLD) @GreenwaveGWAV @li_cycle @radiusrecycling
The Opportunities and the Players in Recycling
Metal
June 18, 2024 – (Investorideas.com Newswire) Investorideas.com, a go-to platform for
big investing ideas issues the first of a two-part series looking at the
benefits, opportunities and the players in metals recycling, featuring Greenwave Technology Solutions, Inc. (Nasdaq:GWAV),
an operator of metal recycling facilities in Virginia, North Carolina, and
Ohio.
Research and Markets reports,
“The rising demand for consumer electronics is significantly driving the growth
of the metal recycling market. As the production and consumption of devices
such as smartphones, laptops, tablets, and household appliances increase, so
does the generation of electronic waste (e-waste). These devices contain
valuable metals like copper, aluminum, gold, and silver, which can be recovered
and recycled. Recycling metals from e-waste is crucial for conserving natural
resources and reducing the environmental impact of mining and processing new
metals.”
How big is the opportunity? Research and Markets says the metal recycling
market size is estimated to be USD 551.9 billion in 2024, and it is projected
to reach USD 767.9 billion by 2029.
Tapping into the growth story, Greenwave Technology
Solutions, Inc. (Nasdaq:GWAV), an operator of metal recycling
facilities in Virginia, North Carolina and Ohio announced today that it has
completed its recapitalization.
This article featuring Greenwave Technology
Solutions, Inc. is paid for news dissemination.
Read this article, featuring GWAV in full at https://www.investorideas.com/news/2024/renewable-energy/06181Recycling-Metal-Stocks.asp
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
Another recycler, Li-Cycle Holdings Corp. (NYSE: LICY),
a leading global lithium-ion battery resource recovery company announced
at the end of May that it had entered into a partnership with Daimler Truck
North America for recycling lithium-ion batteries.
From
the news: Li-Cycle and DTNA have a partnership
to recycle lithium-ion batteries from DTNA electric vehicles that reach the end
of their life cycle. Recycling lithium-ion batteries is part of DTNA’s plans to
maximize battery lifespans and reduce material waste to tackle global
sustainability challenges. DTNA’s strategy emphasizes repairing,
remanufacturing, repurposing, and recycling lithium-ion battery materials.
“We are proud to partner with companies such as DTNA
to support their sustainability and carbon reduction goals,” said Ajay
Kochhar, Li-Cycle President and CEO. “Our environmentally friendly and
safe recycling technologies can recover critical materials to help create a
domestic closed-loop battery supply chain, giving new life to these battery
materials and helping power the world’s transition to clean energy.”
Radius Recycling, Inc.
(NASDAQ: RDUS),
is one of the largest manufacturers and exporters of recycled metal products in
North America with operating facilities located in 25 states, Puerto Rico, and
Western Canada. Radius has seven deep water export facilities located on both
the East and West Coasts and in Hawaii and Puerto Rico.
As one of North America’s largest metals recyclers, Radius
facilities acquire, process, and recycle millions of long tons of ferrous
metals and hundreds of millions of pounds of nonferrous metals every single
year. These recycled metals represent critical feedstock in the global economy,
supporting production of bridges, buildings, cars, public transit and passenger
rail systems, and appliances, as well as more metal-intensive technologies,
such as wind turbines, hydropower dams, advanced battery storage systems,
upgraded electricity lines and electric vehicle charging stations, new
broadband and reliable high-speed internet technology, and data centers.
In their May investor presentation they note the Drivers for Recycled Metals Demand:
Increased
metal intensity, including copper and aluminum, of lower carbon-based
technologies (e.g., EVs, renewable energy, development of“smart grids”)
Anticipated
structural shortage of critical materials (e.g., copper, nickel and lithium)
Global
EAF steelmaking production growth
Domestic
investments related to Infrastructure
Investment
and Jobs Act, Inflation Reduction Act, and Buy Clean provisions
Steel Dynamics, Inc. (NASDAQ:STLD), is one of the largest domestic
steel producers and metals recyclers in North America, based on estimated annual
steelmaking and metals recycling capability, with facilities located throughout
the United States, and in Mexico.
In the first quarter earnings they reported,
“Compared to the sequential fourth quarter, first quarter 2024 operating income
from the company’s metals recycling operations increased to $23 million, based
on increased demand supporting higher volume and metal spread expansion.
Domestic steel production utilization increased from 74 percent in the
sequential fourth quarter to 77 percent in the first quarter 2024. The team did
an excellent job executing in a falling price environment since December 2023
before prices stabilized in April.”
Looking ahead to its potential growth, Greenwave Technology Solutions, Inc. (Nasdaq: GWAV), says on its site, “ We have recently implemented several technologies to
increase metal processing volumes and operating efficiencies, including a
cloud-based ERP system to manage inventories and operations along with a
website with live metal prices for each location.”
“We believe that these systems will create a solid
foundation on which we can rapidly expand our facilities and scale our
operations.”
Also as part of its strategy, GreenWave’s wholly-owned
subsidiary, Scrap App, Inc.
(“Scrap App”) previously announced
it launched new AI-powered features to optimize pricing and sales. Greenwave
anticipates Scrap App’s planned national expansion, coupled with its AI
strategy, will accelerate growth.
From
the news: Greenwave is one of the first
companies to utilize artificial intelligence in the $42.3 billion U.S. scrap
metal industry (1). Scrap App has generated hundreds of thousands of dollars in
revenue from end-of-life vehicles in the limited markets in which it’s
currently available — Hampton Roads, VA, Richmond, VA, and Cleveland, OH.
American
Recycler says,”There
is indication that the metals recycling market is on the brink of substantial
expansion, driven by the urgent need for an increased supply of critical
minerals essential for the clean energy transition.”
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