Greenwave Technology Solutions, Inc. announced its 12th metal recycling facility is expected to open in Fairmont, NC in November 2022 and its 13th metal recycling facility is expected to open in Richmond, VA in December 2022. Further, the Company's second automotive shredder is nearly fully assembled and is on track to come online in December 2022. The company is also announced it is expanding into the sports facility market with the opening of Greenwave Elite Sports Facility in Portsmouth, VA.

With an indoor baseball/softball turfed field, batting cages, workout and speed/agility equipment, Greenwave Elite Sports Facility is one of the highest caliber facilities in the Hampton Roads area and will offer a wide variety of individual and team training packages. The Company intends to focus on its growing membership base to create a strong stream of monthly recurring revenue. Additionally, the company is releasing an online car buying program, created by repurposing its existing technology platform, to increase its buying power in the automobile market.

This is a high-margin, scalable, cloud-based tech revenue stream for the Company. The Company believes less auto auctions and more direct consumer purchases will yield higher net profits. Lastly, the company is significantly expanding its fleet with an order of 23 new trucks to bring its total to 37 trucks to better facilitate the sale of its metal directly to steel mills and to offer hauling services to corporate clients.

Further, an additional 20 trucks are on order to be delivered in February 2023 to bring its fleet size to 57 trucks. The company will be utilizing the logistics infrastructure it already has in place to minimize costs and believes its hauling service line could generate hundreds of thousands of dollars in additional revenue per month for the Company. The general freight/trucking industry is estimated to be a $269.7 billion industry in 2022.

The Company is working towards receiving its own authority to pick up and drop off containers to send overseas at the Port of Virginia.