Nuvve Joins EVVE Project to Accelerate Bidirectional Charging in Europe

SAN DIEGO--(BUSINESS WIRE)-- Nuvve (Nasdaq: NVVE), a global pioneer in Vehicle-to-Grid (V2G) technology, today announced its participation in the EVVE (Environmental Valorization of Virtual Energy storage) project alongside key partners, aiming to speed up the rollout of bidirectional charging stations for electric vehicles across Europe. Nuvve joins the consortium to bring its V2G expertise and offer solutions in countries such as Denmark, France and Spain.

Nuvve (Nasdaq: NVVE), a global pioneer in Vehicle-to-Grid (V2G) technology, is joining the EVVE (Environmental Valorization of Virtual Energy storage) project alongside key partners, aiming to speed up the rollout of bidirectional charging stations for electric vehicles across Europe. (Photo: Business Wire)

Launched in 2021 under the leadership of EDF Group and Dreev, a joint venture of EDF and Nuvve, the EVVE project is a groundbreaking initiative to deploy 800 V2G charging stations across Europe. The project aims to significantly reduce CO2 emissions by leveraging the power of electric vehicles to store low-carbon electricity, paving the way for new V2G functionalities using the Combo CCS European charging standard.

“Nuvve’s focus is to deploy its V2G technology to help Europe as it prepares to scale its power system,” said Xavier Moreau, EVP of Strategy at Nuvve. “With this EVVE project, Nuvve is among the first to use the Combo CCS standard for V2G. Aggregate pools of electric vehicles will become a valuable resource for grid operators to manage a system with a higher share of decarbonized yet variable energy sources.”

As part of this consortium, Nuvve will install approximately 100 charging stations, utilizing both CHAdeMO and CCS standards, which is another megawatt under management for Nuvve and represents a $400,000 capital expenditure. Nuvve is a leader in providing turnkey “V2G as a Service” solutions to corporate and public sector fleets, ensuring electric vehicles can seamlessly integrate into the energy grid to store and discharge electricity based on grid demands. Nuvve has operated the world’s first commercial V2G service for over eight years, providing Frequency Containment Reserve (FCR) services to the Danish TSO Energinet, and now brings this experience to the EVVE project.

Alongside Nuvve, six other new partners are now part of the EVVE project, including Altra (IVECO Group), BNP Paribas Mobility (represented by Arval and BNP Paribas Leasing Solutions), Enedis, IZIVIA, Stellantis, and Volkswagen Group France. Together, these companies are working to deploy a total of 800 bidirectional charging points for various applications across Europe. Supported by the European Union's Innovation Fund, EVVE aims to be a catalyst for V2G industrialization, giving proper signals to V2G value chain stakeholders, especially EV manufacturers, enabling massive deployment of large-scale V2G schemes in Europe.

This collaboration allows partners to test cutting-edge V2G technology, evaluate its benefits for customers like fleet operators, and contribute to a more flexible, sustainable energy system. To date, 250 V2G chargers have already been deployed, primarily in France and Denmark, showcasing the project’s ongoing progress.

About Nuvve

Founded in 2010, Nuvve Holding Corp. (Nasdaq: NVVE) has successfully deployed vehicle-to-grid (V2G) on five continents, offering turnkey electrification solutions for fleets of all types. Nuvve combines the world’s most advanced V2G technology and an ecosystem of electrification partners, delivering new value to electric vehicle (EV) owners, accelerating the adoption of EVs, and supporting a global transition to clean energy. Nuvve is making the grid more resilient, transforming EVs into mobile energy storage assets, enhancing sustainable transportation, and supporting energy equity in an electrified world. Nuvve is headquartered in San Diego, Calif., and can be found online at nuvve.com.

About EDF

A major player in the energy transition, the EDF Group is an integrated energy company, active in all business lines: generation, transmission, distribution, trading, energy sales and energy services. As the world leader in low-carbon energies, the Group has developed a diversified production mix based mainly on nuclear and renewable energy (including hydropower) and is investing in new technologies to support the energy transition. EDF's raison d'être is to build a CO2-neutral energy future that reconciles preservation of the planet, well-being and development, thanks to electricity and innovative solutions and services. The Group is involved in supplying energy and services to around 40.3 million customers (1), including 30.3 million in France (2). By 2022, it will have generated consolidated sales of €143.5 billion. EDF is listed on the Paris stock exchange.

(1) Since 2018, customers have been counted by delivery site; a customer may have two delivery points: one for electricity and another for gas.
(2) Including ÉS (Électricité de Strasbourg) and SEI.

DISCLAIMER: Funded by the European Union. Views and opinions expressed are however those of the author(s) only and do not necessarily reflect those of the European Union or the European Climate, Infrastructure and Environment Executive Agency (CINEA). Neither the European Union nor the granting authority can be held responsible for them.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241010702593/en/

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Source: Nuvve