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Nuvve Holding Corp. (NVVE), a green energy technology company, released its Q1 2024 financial update. Key highlights include the deployment of their 500th electric school bus EVSE, increased managed megawatts by 6.0% to 26.6 MW, and selection for Fresno EOC's $16M fleet project. However, Q1 revenue fell 58% to $0.78M from $1.85M in Q1 2023, primarily due to lower product and services sales. Operating expenses excluding cost of sales fell to $7.5M from $8.3M in Q1 2023. The net loss decreased 12.2% to $6.7M from $7.7M. Cash reserves stood at $5.3M as of March 31, 2024.
Nuvve Holding Corp. (Nasdaq: NVVE) will provide a first quarter 2024 financial update on May 14, 2024. The company specializes in green energy technology, offering a commercial vehicle-to-grid (V2G) platform for electric vehicles to store and resell energy to the grid. Investors can join the conference call to review financial results and company developments.
Nuvve Holding Corp. and Great Power Energy and Technology announced a strategic partnership to accelerate stationary storage battery deployments and integration with the grid. By combining their expertise in battery technology and energy management, the partnership aims to offer cost-effective solutions for electric vehicle charging and renewable energy integration, ultimately supporting the electrification of transport and the advancement of sustainable energy practices worldwide.