HOUSTON, TEXAS (Editors at Energy Analytics Institute, 21.Feb.2025) — Greenwave Technology Solutions, Inc., despite receiving numerous inquiries from investors, has no immediate plans to raise capital.
Greenwave currently has $10mn in cash and current inventories of $7mn, the company said 21 Feb. 2025 in an official statement. This, as scrap prices are starting to surge ahead of US president Donald Trump’s 25% tariffs on steel and aluminum imports set to take effect in Mar. 2025, while eliminating all exceptions and exclusions.
“Unlike tariffs on countries – which are often used as a negotiating tactic – the tariffs on steel, aluminum, and ultimately copper are intended to strengthen America’s steel industry to de-risk in our supply chain,” Greenwave said.
Greenwave said the administration of former US president Joe Biden did not reverse the tariffs on steel implemented during Trump’s first term.
Greenwave expects the tariffs on metals to be perpetual.
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By Editors at Energy Analytics Institute. © 2025 Energy Analytics Institute (EAI). All Rights Reserved.
