Greenwave Technology Solutions, Inc. announced its Norfolk facility has obtained an automotive recycler/demolisher license from the Virginia Department of Motor Vehicles. This license enables Greenwave's Norfolk Facility to purchase scrap cars directly from customers, one of the only metal recycling facilities able to do so in the City of Norfolk. Greenwave opened its Norfolk facility in 2012 and has been working for the past several years to obtain this license.

The Company expects that the volume of cars it processes will increase by 500 to 750 tons per month now that it can purchase cars directly from customers at its Norfolk facility. Further, Greenwave is revamping its online car buying program, created by repurposing its legacy technology platform, to increase the volume of cars it processes. The Company believes that by purchasing more scrap vehicles directly from consumers, rather than through brokers or auctions, it will increase its margins.