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Dive into Summer Travel Bliss: St. Kitts Could be Your Ultimate Vacation Destination!

YourUpdateTV

A video accompanying this announcement is available at: https://youtu.be/5C_u2YNtlTA With its captivating blend of rich history, breathtaking landscapes, and vibrant culture, St. Kitts offers a remarkable experience for travelers seeking an authentic and unforgettable getaway. With an abundance of opportunities to explore the island's rich heritage, the “Summer of Fun” offers a chance to experience the very best of what makes St. Kitts stand out from other Caribbean destinations. From music and adventure to culture and cuisine, visitors can delight in the myriads of ways to soak up all St. Kitts has to offer. The “Summer of Fun” events include the St. Kitts Music Festival (June 22-30), St. Kitts and Nevis Restaurant Week (July 11-21), and CPL 20 Cricket (August 21-September 8). Traveler’s who visit St. Kitts during the Summer of Fun will no doubt feel the rich heritage and culture of the Federation. Beautiful views, friendly locals, delicious food, and a rich history are all waiting to be experienced. There is something for everyone, from history buffs who can view UNESCO-recognized sites to adventure lovers who can find scuba diving, extreme hiking, and ziplining. A country this thrilling has to be seen to be believed. “The essence of our Summer of Fun extends beyond the exceptional events. It encapsulates the Kittitian spirit that defines the culture and shares it with incoming travelers,” said Ellison “Tommy” Thompson, CEO of the St. Kitts Tourism Authority. “We're eager to welcome visitors from across the globe into our vibrant community, where they can immerse themselves in an array of enriching experiences.” “We are thrilled with the ongoing success that St. Kitts has received over the past year,” said Honorable Marsha Henderson, Minister of Tourism, International Transport, Civil Aviation, Urban Development, Employment, and Labor. “Our new campaigns and promotions will help keep the momentum going throughout 2024 and beyond. We look forward to increasing awareness, sharing the beauty of the island, and providing a memorable travel experience to those visiting St. Kitts.” Visitors are reminded to regularly check the St. Kitts Tourism Authority website ( www.visitstkitts.com ) for updates and information Contact Details YourUpdateTV +1 212-736-2727 yourupdatetv@gmail.com

June 26, 2024 10:32 AM Eastern Daylight Time

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News Release

Promising Developments from OKYO Pharma on Dry Eye Disease and Neuropathic Pain Treatment

OKYO Pharma Ltd

OKYO Pharma Ltd CEO Gary Jacobs joined Steve Darling from Proactive to share additional key findings from the Phase 2 clinical trial evaluating the safety and efficacy of OK-101 (0.05%) ophthalmic solution in patients with dry eye disease (DED). This trial involved 240 patients in a randomized, double-masked, placebo-controlled study. OK-101, developed using a membrane-anchored-peptide technology, is a novel long-acting drug candidate designed to treat dry eye disease. It has shown anti-inflammatory and pain-reducing efficacy in mouse models of dry eye disease and corneal neuropathic pain. Jacobs highlighted that the findings include a statistically significant and durable reduction in ocular pain and a statistically significant improvement in Tear Film Break-Up Time throughout the study, which is a clinically important endpoint. Additionally, multiple symptomatic improvements were observed through both data obtained from patient clinic visits and daily symptom diaries. Jacob explained that OK-101 targets a receptor called Chemerin 23, present on both immune and nerve cells, including those in the spinal cord and ocular nerves. Preclinical animal studies indicated that OK-101 could reduce neuropathic pain, which can be particularly severe and debilitating in affected patients. The company is preparing to launch a Phase II trial for OK-101 specifically targeting neuropathic corneal pain. This trial will be a placebo-controlled, randomized study involving 48 patients diagnosed with ocular nerve damage through confocal microscopy, with top-line data anticipated by mid-2025.The significance of this development is underscored by the lack of FDA-approved treatments for neuropathic corneal pain, a condition recognised by the National Organization of Rare Diseases. The upcoming trial aims to fill this therapeutic gap, potentially offering relief to patients suffering from this excruciating condition. Contact Details Proactive North America +1 604-688-8158 na-editorial@proactiveinvestors.com

June 26, 2024 10:29 AM Eastern Daylight Time

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Ocean Power Technologies Selected as Preferred Supplier for PowerBuoy with Merrows in Middle East

Ocean Power Technologies Inc

Ocean Power Technologies CEO Philipp Stratmann joined Steve Darling from Proactive to announce that the company has been selected as a preferred supplier for a PowerBuoy equipped with Merrows, its Artificial Intelligence-capable Maritime Domain Awareness Solution. This selection is for an immediate delivery opportunity in the Middle East. The contract, once finalized, is expected to generate revenues in the current quarter. The company had previously announced the completion of engineering for Merrows to operate in hot climates. Stratmann highlighted that this development is another example of the company's growth in its PowerBuoy business. He emphasized that the Middle East presents significant opportunities for Merrows and the potential to integrate additional Wave Adaptive Modular Vessels (WAM-Vs) into their operations. This strategic move underscores Ocean Power Technologies' commitment to expanding its market presence and leveraging its advanced maritime technologies to meet the growing demand in the Middle East. Contact Details Proactive North America +1 604-688-8158 NA-editorial@proactiveinvestors.com

June 26, 2024 10:27 AM Eastern Daylight Time

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DMP & PARTNERS Shortlisted for Prestigious Allica Bank Great British Entrepreneur Awards 2024

500NewsWire

London, June 26, 2024 - David Dolce Managing Director at Dmp & Partners is thrilled to announce that it has been shortlisted for the 2024 Allica Bank Great British Entrepreneur Awards. Recognised in the Global Entrepreneur of the Year category sponsored by Airwallex. The Great British Entrepreneur Awards, often referred to as the “Grammys of Entrepreneurship,” celebrates the achievements of the UK's most dynamic and innovative businesses. Each year, the awards receive thousands of applications, underscoring the competitive nature and high standard of the competition. This year’s shortlist showcases a combined turnover of nearly £2.9 billion and employs approximately 20,000 people, highlighting the critical role these businesses play in driving economic growth and innovation. Dmp & Partners, based in London, is recognised for its outstanding contributions to Legal and Business Consulting. We are incredibly honoured to be shortlisted for such a prestigious award. This recognition is a testament to the hard work and dedication of our team, and we are excited to celebrate this achievement with the wider entrepreneurial community,” said David Dolce,Global Managing Director at Dmp & Partners. "We're thrilled to sponsor the Great British Entrepreneur Awards and congratulate the exceptional entrepreneurs who have made it to the shortlist. Their innovation, resilience, and passion embody the spirit of British entrepreneurship. At Airwallex, we're committed to supporting and celebrating these visionaries who are creating step-change in their businesses and industries." Natalie Williams, Marketing Director, at Airwallex EMEA. Previous winners of the Great British Entrepreneur Awards include the founders of BrewDog, MyEnergi, Zilch, Grenade, and ClearScore, who have gone on to become household names. It is with thanks to national and regional sponsors Allica Bank, Airwallex, Basket, Caudwell Children, de Novo Solutions, GiftRound, GS Verde Group, GS1 UK, Home Grown, JF Growth Menzies, Quidos, Randal Charitable Foundation, ScoreApp, TikTok, UBS Wealth Management and Vestd that the Great British Entrepreneur Awards has been able to celebrate the very best of Great British entrepreneurs for 12 years. The awards ceremony will take place on Monday, 18th November, at London’s prestigious Grosvenor House, where winners for each category in each region will be announced. This event is the largest entrepreneurial celebration in the UK, providing a platform for businesses to connect, celebrate, and champion the spirit of entrepreneurship. Francesca James, Founder of the Great British Entrepreneur Awards, stated, “The calibre of entries this year is truly outstanding. These entrepreneurs are the backbone of our economy, and their stories are a testament to the incredible resilience and creativity of the UK's business community. We are thrilled to recognise their achievements and support their continued growth.” Allica Bank, the headline sponsor for this year’s awards, shares this commitment to fostering entrepreneurial success. “It has been a real honour to sponsor this year’s Great British Entrepreneur Awards. Hearing the inspiring stories from the incredible businesses that these awards champion really brings to life the important contribution that British entrepreneurs make to our economy” says Conrad Ford, Chief Product & Strategy Officer at Allica Bank. For more information about Dmp & Partners, please visit www.ddmpco.com. To learn more about the Great British Entrepreneur Awards, visit www.greatbritishentrepreneurawards.com. About Dmp & Partners: DMP & Partners offers cutting-edge legal and consultancy services since 2015, empowering global businesses with tailored solutions for sustainable growth. Recognized for excellence, we have earned accolades such as International M&A Advisory Firm of the Year 2023 and the Business Consultancy Awards 2024 - Advisory Team for the Year 2024. Our mission is to redefine legal consultancy by delivering strategic insights and proactive client service, ensuring success across corporate finance, private equity, international tax, and more. About the Great British Entrepreneur Awards: The Great British Entrepreneur Awards celebrate the inspiring stories of entrepreneurs from across the UK. With a rich history of recognising businesses that have gone on to become household names, the awards are a beacon for entrepreneurial success and innovation. Each year, thousands of businesses apply, showcasing the immense talent and diversity in the UK's entrepreneurial ecosystem. Contact Details Dmp & Partners David Dolce, Managing Director +44 20 7663 7380 david.d@ddmpco.com

June 26, 2024 09:51 AM Eastern Daylight Time

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Direxion Unveils URAA: A Bold Move for Traders Seeking 200% Exposure to Uranium and Nuclear Energy Industry

Direxion

Direxion, a leading provider of tradeable and thematic ETFs, today announced the launch of the Direxion Daily Uranium Industry Bull 2X Shares (Ticker: URAA). URAA seeks to achieve 200%, before fees and expenses, of the daily performance of the Solactive United States Uranium and Nuclear Energy ETF Select Index. “Uranium prices have reached the highest levels in over 15 years, and the uranium market is seeing incredible growth. But there’s a significant gap between supply and demand, that begs further development and investment,” said Direxion Managing Director, Edward Egilinsky. “As public sentiment and government support shifts in favor of further expansion, URAA offers traders a unique way to make short-term bets on the nuclear energy industry.” The global markets landscape is rapidly evolving, presenting new challenges and opportunities. As the uranium and nuclear energy industry continues to show promising growth, Direxion is committed to providing traders with timely vehicles to align with the shifting dynamics of the financial markets. All Direxion Daily Leveraged and Inverse ETFs are intended only for investors with an in-depth understanding of the risks associated with seeking leveraged investment results, and who plan to actively monitor and manage their positions. There is no guarantee these ETFs will meet their objective. Please visit the Direxion Leveraged and Inverse ETF Education Center, where you will find educational brochures, videos, and a self-paced online course to help you understand if leveraged ETFs are right for you. About Direxion: Direxion equips investors who are driven by conviction with ETF solutions built for purpose and fine-tuned for precision. These solutions are available for a broad spectrum of investors, whether executing short-term tactical trades, or investing in thematic strategies. Direxion’s reputation is founded on developing products that precisely express market perspectives and allow investors to manage their risk exposure. Founded in 1997, the company has approximately $42.3 billion in assets under management as of March 31, 2024. For more information, please visit www.direxion.com. There is no guarantee that the Funds will achieve their investment objectives. For more information on all Direxion Shares ETFs, go to www.direxion.com, or call us at 866.301.9214. Leveraged and Inverse ETFs pursue daily leveraged investment objectives which means they are riskier than alternatives which do not use leverage. They seek daily goals and should not be expected to track the underlying index over periods longer than one day. They are not suitable for all investors and should be utilized only by sophisticated investors who understand leverage risk and who actively manage their investments. An investor should carefully consider a Fund’s investment objective, risks, charges, and expenses before investing. A Fund’s prospectus and summary prospectus contain this and other information about the Direxion Shares. To obtain a prospectus and summary prospectus call 866-476-7523 or visit our website at direxion.com. A Fund’s prospectus and summary prospectus should be read carefully before investing. Direxion Shares Risks - An investment in the Fund involves risk, including the possible loss of principal. The Fund is non-diversified and includes risks associated with the Fund concentrating its investments in a particular industry, sector, or geographic region which can result in increased volatility. The use of derivatives such as futures contracts and swaps are subject to market risks that may cause their price to fluctuate over time. Risks of the Fund include Effects of Compounding and Market Volatility Risk, Leverage Risk, Market Risk, Counterparty Risk, Rebalancing Risk, Intra-Day Investment Risk, Daily Index Correlation Risk, Other Investment Companies (including ETFs) Risk, Passive Investment and Index Performance Risk, Cash Transaction Risk and risks specific to the nuclear energy and uranium mining companies and the energy sector. Please see the summary and full prospectus for a more complete description of these and other risks of the Fund. Distributor: Foreside Fund Services, LLC. Contact Details Ditto Public Relations Danielle Black, SAE direxion@dittopr.co Company Website https://www.direxion.com/

June 26, 2024 09:00 AM Eastern Daylight Time

Rack Room Shoes Announces Dr. Heinz-Horst Deichmann Scholarship Program Winners

Rack Room Shoes

Rack Room Shoes recently held its annual Dr. Heinz-Horst Deichmann Scholarship Program in partnership with Scholarship America. This program is exclusively for Rack Room Shoes associates, selecting five students who receive a $2,000 renewable scholarship to support their educational goals. The scholarship recipients for the 2024-2025 academic year are: Marwan Abdelgawad – Sr. Sales Associate – Store #618, Morrisville, N.C. Bessie Brown – Sales Associate – Store #376, Ashland, Ky. Diego Martinez – Assistant Store Manager 2nd – Store #3069, Murfreesboro, Tenn. Kayla Rickman – Assistant Store Manager Lead – Store #499, Concord, N.C. Tara Shivji – Sr. Sales Associate – Store #73, Knoxville, Tenn. The exceptional individuals have demonstrated their dedication, commitment and leadership in both their academic studies and their communities. By investing in these young scholars' education, Rack Room Shoes aims to empower and support their valued associates’ personal and professional development. "Investing in the next generation of talent is essential," said Mark Lardie, president and chief executive officer of Rack Room Shoes. "Congratulations to our scholarship winners and their commitment to furthering their education, we're excited to see what the future holds for these bright minds.” Additionally, scholarship winners from the previous year were renewed for another year of scholarship support, bringing the total to 10 scholarship recipients awarded for the 2024-2025 school year. Through initiatives like the Dr. Heinz-Horst Deichmann Scholarship Program, Rack Room Shoes remains committed to fostering a positive work environment and providing opportunities for the growth and success of its associates. About Rack Room Shoes Headquartered in Charlotte, N.C., Rack Room Shoes is known as an innovator in the shoe industry for over 100 years. Rack Room Shoes operates more than 520 locations nationwide under the Rack Room Shoes and Off Broadway Shoe Warehouse brands. Both brands offer a great variety of on-trend styles for women, men and children in athletic, comfort and dress categories, while providing a delightful and trusted shopping experience for our valued customers. Through Rack Room Shoes Gives, our ongoing philanthropic program, we provide ways in which customers and employees can seek support for charitable organizations, instilling trust and inspiration in the communities we serve. Contact Details Rack Room Shoes Dejah Gilliam +1 704-501-4567 dejah.gilliam@rackroom.com Brenda Christmon +1 704-491-1850 brenda.christmon@rackroom.com

June 26, 2024 09:00 AM Eastern Daylight Time

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Enhance Your Retirement Portfolio: The Benefits Of Adding Cryptocurrency

Benzinga

By Kyle Anthony, Benzinga The term ‘investment opportunity set’ is defined as the universe of investable assets available to investors from which they can construct a portfolio. For most investors, these investable assets include stocks, bonds, real estate and even precious metals, such as gold. However, for many investors, digital assets such as cryptocurrencies are not top-of-mind as investable assets due to their public perception or the limited knowledge individuals may have of the asset class. However, cryptocurrencies present an opportunity for investors, such as retirement savers, to bolster their portfolio with an asset class that has compelling diversification qualities and strong return generation capabilities. Why Retirement Savers Should Consider Cryptocurrencies A primary rationale for adding crypto to retirement savings is the diversification benefit of an asset class largely uncorrelated to traditional assets. Across the investment landscape, performance leadership and the degree to which one asset class outperforms the other changes every year. But instead of trying to guess and gauge which asset class will be the best, diversification encourages broad exposure to all of them. By taking a multi-asset approach to investing, retirement savers can spread risk and enhance potential returns by including a mix of different asset types in a portfolio. Thus, a small allocation to cryptocurrency in a diversified portfolio may be able to increase expected returns without materially increasing overall portfolio risk. During bull runs, the rapid appreciation of crypto assets can boost the value of a retirement fund, providing a high-reward opportunity for investors. However, it is essential to manage these investments responsibly, considering the inherent risks and employing a balanced approach to ensure long-term financial security. How Much Should One Allocate To Their Portfolio? Every individual’s personal investment situation is different; as such, how much of a particular asset class they are exposed to will vary depending on their circumstances, such as age, experience, income level and risk tolerance. Because crypto is a high-risk/high-return-potential asset class with a low correlation to stocks, crypto assets can potentially help investors overcome some of the portfolio construction challenges they face today. A moderate allocation can have a material impact on their portfolio’s performance. With allocation comes periodic rebalancing. Crypto allocation must be routinely tweaked to align with investment goals. Choosing Which Cryptocurrency Is Suitable For One’s Portfolio The cryptocurrency investment landscape is broad, so the investment options that investors can choose from are diverse. For retirement savers, cryptocurrencies such as Bitcoin and Ethereum would be a natural fit due to the existence of an established investor base and market. However, their established nature doesn’t preclude them from being susceptible to swings in market price. While there are less established cryptocurrencies, it is incumbent upon investors to understand their value proposition and the protocols underpinning them before they invest. How Can One Add Cryptocurrencies To Their Portfolios? The unitization of Bitcoin and Ethereum in the form of exchange-traded funds (ETFs) has made adding cryptocurrencies to one’s portfolio relatively easy in recent years. However, for investors who desire to have direct ownership of their cryptocurrency, Caleb & Brown, the crypto investor’s expert partner, provides personalized service for beginner and advanced investors alike, with Bitcoin and hundreds of other crypto assets readily available for one’s portfolio. With 24/7 access to a personal relationship manager, investors can buy crypto with fiat currency and no deposit fees. Since Caleb & Brown doesn’t need to deal with network latency issues which sometimes plague exchanges, clients will have access to a pool of interchangeable assets. This not only makes crypto acquisition easier, but it also makes other difficult-to-access tokens easier to acquire. With over 20,000 crypto assets in existence, each with its own uses and applications, Caleb & Brown can provide resources and insights on the cryptocurrency landscape that can aid their clients in their decision-making and give them the confidence needed to navigate the world of crypto. Click here to learn more. Featured photo by Daniel Dan on Unsplash. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

June 26, 2024 08:50 AM Eastern Daylight Time

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DentalPlans.com: Empowering Families To Live Healthier Lives Through Affordable And Flexible Dental Savings Plans

DentalPlans.com

By Mangeet Kaur Bouns, Benzinga Oral health plays a vital role in our daily lives, impacting our ability to speak, smile and eat comfortably. Maintaining good dental hygiene not only enhances our appearance and self-esteem but also significantly influences overall well-being. Research has linked poor oral health to serious health issues such as heart disease, respiratory infections, stroke, diabetes and certain cancers. Finding affordable dental care is crucial for families. Traditional insurance has long been the standard, but dental savings plans are a flexible, cost-effective alternative. DentalPlans.com, a leader in dental savings plans, has transformed access to dental care in the U.S. over the past 25 years, making it easier for families to access affordable dental care without sacrificing quality. Understanding The Differences: Traditional Insurance Vs. Dental Savings Plans Traditional dental insurance typically involves paying monthly premiums in exchange for coverage that includes a percentage of costs for various services. These plans often come with annual spending caps, deductibles and waiting periods, which can limit immediate access to certain treatments. Additionally, there may be exclusions for pre-existing conditions and network restrictions that confine patients to a specific group of providers. In contrast, the dental savings plans available on DentalPlans.com do away with these limitations. By offering membership-based access to discounted rates from a vast network of over 140,000 dentists and specialists, these plans provide substantial savings without deductibles or annual limits. Plan members can receive care for existing dental conditions and enjoy flexibility in choosing their providers nationwide. Simply show your membership card at the dentist to receive savings. No Limits, No Restrictions: A Key Advantage One of traditional insurance's most significant drawbacks is the cap on coverage. Annual limits for a PPO plan are typically between $1,000 and $1,500 and can be quickly exhausted, especially when you need major dental procedures like root canals or crowns, which can cost between $750 and $2,000 per tooth. Once these limits are reached, patients must cover the remaining costs out-of-pocket while continuing to pay their insurance premiums. The dental savings plans on DentalPlans.com eliminate these restrictions, allowing plan members to access necessary dental care without worrying about annual limits. This includes treatments for existing dental conditions. Families can see as many participating providers as needed–for any number of reasons – including virtually all treatments, from cleanings to braces to root canals and dental implants. Extensive Network With Flexibility And Inclusivity The dental savings plans on DentalPlans.com are accepted by over 140,000 dentists and specialists nationwide, including pediatric dentists, orthodontists and endodontists, so choosing a dental savings plan doesn’t sacrifice network size. This broad network ensures that all family dental needs are met. The company offers more than 25 dental plans from top healthcare brands like Cigna, Aetna, Careington, United Concordia and Dentegra, ensuring your family will find a plan that fits its needs and budget. Dental savings plans also provide the flexibility to switch plans. Whether your family needs preventive care, braces for a child, or a root canal for an adult, DentalPlans.com allows for a seamless transition between plans, maximizing savings and maintaining continuous care. Ease Of Use And Significant Savings DentalPlans.com simplifies getting dental care with dental savings plans, which are easy to use and activate quickly (within 1-3 business days of signup). There is no paperwork to navigate and plan members can immediately save with reduced rates at the time of treatment. This straightforward approach not only saves time but also provides peace of mind when it comes to managing dental expenses. Dental savings plan members report saving an average of 50%* on their dental care, highlighting the cost-effectiveness of dental savings plans. Whether you're traveling and need to visit a dentist or simply require regular dental services, DentalPlans.com ensures continuous, affordable care. DentalPlans.com Leads The Way In Providing Quality, Affordable Dental Care For Families While traditional dental insurance has its benefits, the dental savings plans from DentalPlans.com offer a compelling alternative or complement with distinct advantages, such as no annual limits, no restrictions on existing dental conditions, an extensive network of providers, flexibility, ease of use and significant savings. The company's innovative and customer-focused approach continues to drive it toward achieving dental care equality, ensuring that everyone has the opportunity to access high-quality dental services. As DentalPlans.com celebrates its 25th anniversary, its commitment to making dental care accessible and affordable for everyone remains unwavering. Visit DentalPlans.com to learn more about dental savings plans and see how much you can save today. Featured photo by MonkeyBusinessImages at Shutterstock DentalPlans.com, founded in 1999, is a leading online marketplace for dental savings plans in the U.S., helping more than a million people to affordably access quality healthcare services. Our mission is to empower consumers with the tools, information, and services that they need to live happier, healthier lives. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. *Discount Health Program consumer & provider surveys indicate average savings of 50%. Savings may vary by provider, location and plan. Sample savings are based on zip code 43614, actual costs and savings may vary service and geographical area. Contact Details Matthew Wong matthew.wong@wpromote.com Company Website https://www.dentalplans.com/

June 26, 2024 08:45 AM Eastern Daylight Time

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With Enough Cash In The Coffers, Greenwave Is Putting Its Growth Plans To Work

Benzinga

By Meg Flippin, Benzinga From shoring up capital to building out its popular Scrap App, Greenwave Technology Solutions Inc. (NASDAQ: GWAV), has been making a lot of progress in the past few months, including the company’s recapitalization, which it announced in May. The operator of 13 metal recycling facilities in Virginia, North Carolina and Ohio recently completed that, exchanging $17.22 million in debt for shares. All told, in the past few months, Greenwave says it has attracted $45.3 million in new capital infusions. The company is also shoring up its balance sheet, which now stands at $80.5 million, with a cash balance of over $26 million, a record for Greenwave. It is now operating a fully funded business with no need to raise any more capital. Greenwave is also still on track to generate record revenues of more than $40 million driven by volume of steel and copper processed in 2024. The new cash position gives Greenwave firepower “to aggressively grow and increase processing volume.” To that end, Greenwave said it plans to open a second shredder this summer. Looking For Buys The metal recycling company is also looking for acquisition and strategic partnerships. That shouldn’t be too hard since Greenwave operates in a growing and fragmented industry; one example of which is recycled steel. Using recycled steel instead of new material can cut CO2 emissions by about 75% as it uses about 70% less energy than manufacturing new materials. As it stands, two out of every three tons of steel produced come from recycling. In 1980, it was just one out of every ten tons produced. It's also a big market. In 2019, the metal recycling industry was valued at $52.1 billion and is projected to reach $76.1 billion by 2025, growing at a CAGR of 7.8% during the forecast period. Greenwave says it is focused on scrap yard deals that don’t have a lot of dilution or impact cash flow. It is also committed to not overpaying, aiming to utilize seller’s notes as its preferred form of consideration. Scrap App Expanding Nationwide In addition to doubling down on buys, Greenwave plans to use its newfound cash flow to expand ScrapApp.com, its artificial intelligence-powered quoting system for metal from construction and demolition projects, nationwide. The app lists the nearest scrap yards with real-time pricing. Greenwave says it is one of the first companies to utilize artificial intelligence (AI) in the $42.3 billion U.S. scrap metal industry. Since launching Scrap App, it has generated hundreds of thousands of dollars in revenue from end-of-life vehicles. That’s only from the limited markets it currently operates in, which include Hampton Roads and Richmond, Virginia, and Cleveland, Ohio. Scrap App recently set a new daily record for cars purchased through the Scrap App platform. With its strengthened cash position, Greenwave wants to morph Scrap App into a leading AI-driven technology platform for the multi-billion dollar scrap metal industry; either as a stand-alone business serving the whole industry or as an internal subsidiary giving Greenwave a competitive edge. In the coming months, the company plans to list nearby scrap yards with their real-time prices and introduce a points-based rewards system. Scrap App has adopted the lean startup methodology – expanding primarily utilizing the cashflows it generates from operating activities, while focusing on utilizing AI-powered systems it expects will enable it to scale in a capital-efficient manner. “A competitor to Scrap App reportedly generated $159 million in annual revenue during 2022,” said Greenwave. “Greenwave believes the efficiencies created by its vertical integration of key stages of the car scrapping process could lead to significant competitive advantages.” With more cash in the coffers and no need to raise additional capital, Greenwave is fully focused on bringing its growth strategies to life by making more buys and expanding its popular Scrap App. With recycled steel in demand, stay tuned for more news coming out of this smelter operator. Featured photo by Ben Wicks on Unsplash Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

June 26, 2024 08:45 AM Eastern Daylight Time

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