Nuvve Engages Cappello Global Investment Bank to Enhance Nuvve's Strategic Partnership and Growth Strategy

Rhea-AI Summary

Nuvve Holding Corp. (Nasdaq: NVVE) has engaged Cappello Global as its strategic financial advisor to identify and evaluate potential strategic transactions. This collaboration aims to support Nuvve's capital requirements and enhance its growth strategy, particularly in strengthening its balance sheet and accelerating business development. The focus areas include scaling up operations in the K-12 channel, V2G hubs, and stationary battery storage. CEO Gregory Poilasne emphasized the importance of these initiatives for Nuvve's long-term vision. However, there is no assurance that any specific transaction will occur, and no timeline for completion has been set.

Positive

• Engagement with Cappello Global aims to support both near-term and long-term growth objectives.
• Focus on scaling operations in key areas like K-12 channels, V2G hubs, and stationary battery storage.
• Potential for strengthening Nuvve's balance sheet through strategic transactions.

Negative

• No assurance that any specific strategic transaction opportunities will be pursued or completed.
• No timeline has been set for the completion of the strategic review process.
• Uncertainty regarding the outcome of the engagement with Cappello Global could cause investor hesitation.

SAN DIEGO, May 23, 2024 /PRNewswire/ -- Nuvve Holding Corp. ("Nuvve") (Nasdaq: NVVE), a green energy technology company that provides a globally-available, commercial vehicle-to-grid (V2G) technology platform designed to enable electric vehicle (EV) batteries to store and resell unused energy back to the local electric grid and provides other grid services, today announced that it has engaged Cappello Global, LLC ("Cappello Global") as its strategic financial advisor to identify potential strategic transaction opportunities to assist with Nuvve's capital needs that will support both its near term and long term growth objectives.

During this engagement, the Company expects to review various potential strategic transaction opportunities aimed at strengthening Nuvve's balance sheet to support growth acceleration and asset development in line with Nuvve's forward trajectory as a leading global V2G green technology company.

There can be no assurance that this process will result in Nuvve pursuing or consummating any particular transaction or strategic opportunity. Nuvve has not set a timetable for the completion of this process and does not intend to comment further unless or until it is determined that other disclosure is necessary or appropriate.

Gregory Poilasne, Chief Executive Officer of Nuvve, stated, "Accelerating our opportunities to scale the business across our K-12 channel, V2G hubs, and stationary battery storage is a top priority for us. As such, we are tightening our focus on key strategic initiatives and considering options that optimally support our long-term vision. We believe the Cappello Global team has the right tools and expertise to help Nuvve transition into this next phase of our development."

About Cappello Global

Cappello Global's seasoned team of professionals have advised on hundreds of successful strategic and financing transactions, ranging in value from tens of millions to billions of dollars, for both public and privately-held companies. For over 51 years, the founder-owned and operated firm has served businesses in the U.S. and internationally, ranging from middle market companies to global corporations encompassing a broad range of industries.

For further details about Nuvve and Cappello Global please visit www.nuvve.com and www.cappellocorp.com, respectively.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements or forward-looking information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of forward-looking terms such as "may," "will," "expects," "believes," "aims," "anticipates," "plans," "looking forward to," "estimates," "projects," "assumes," "guides," "targets," "forecasts," "continue," "seeks" or the negatives of such terms or other variations on such terms or comparable terminology, although not all forward-looking statements contain such identifying words. Forward-looking statements include, but are not limited to, statements concerning Nuvve's expectation that Cappello Global will assist Nuvve in evaluating strategic transaction opportunities, the expected timing of any such transactions or opportunities, the outcome of potential future strategic transactions and the terms thereof, Nuvve's, plans, intentions, strategies, prospects, business plans, product and service offerings, new deployments, potential project successes, expected timing of recently announced projects, anticipated growth of various business areas and other statements that are not historical facts. Nuvve cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Nuvve. Such statements are based upon the current beliefs and expectations of management and are subject to significant risks and uncertainties that could cause actual outcomes and results to differ materially.  Some of these risks and uncertainties can be found in Nuvve's most recent Annual Report on Form 10-K and subsequent periodic reports filed with the Securities and Exchange Commission (SEC). Copies of these filings are available online at www.sec.gov, https://investors.nuvve.com or on request from Nuvve. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in the Nuvve's filings with the SEC. Such forward-looking statements speak only as of the date made, and Nuvve disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers of this press release are cautioned not to place undue reliance on these forward-looking statements, since there can be no assurance that these forward-looking statements will prove to be accurate. This cautionary statement is applicable to all forward-looking statements contained in this press release.

Trademarks

This press release contains trademarks, service marks, trade names and copyrights of Nuvve and other companies, which are the property of their respective owners.

Nuvve Investor Contact
investorrelations@nuvve.com
+1 (619) 483-3448

Nuvve Press Contacts
press@nuvve.com
+1 (619) 483-3448

 

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SOURCE Nuvve Holding Corp.

FAQ

What recent strategic step has Nuvve (NVVE) taken to enhance its growth strategy?

Nuvve has engaged Cappello Global as its strategic financial advisor to identify and evaluate potential strategic transactions.

What is the primary goal of Nuvve's engagement with Cappello Global?

The primary goal is to support Nuvve's capital needs and enhance both its near-term and long-term growth objectives.

What are the key focus areas for Nuvve's growth strategy?

Nuvve is focusing on scaling operations in the K-12 channel, V2G hubs, and stationary battery storage.

Is there a set timeline for Nuvve to complete its strategic review process?

No, Nuvve has not set a timeline for the completion of this process.

What did Nuvve's CEO say about the engagement with Cappello Global?

CEO Gregory Poilasne emphasized the importance of focusing on key strategic initiatives to support Nuvve's long-term vision.