Nuvve Revealed As Next Big Thing in Tech by Fast Company

Rhea-AI Summary

Nuvve Holding Corp (Nasdaq: NVVE) has been selected as one of Fast Company's inaugural Next Big Things in Tech honorees for its innovative vehicle-to-grid (V2G) technology. This recognition highlights Nuvve's role in enhancing electric vehicle (EV) adoption and supporting the transition to clean energy through its intelligent energy platform. The V2G platform integrates EV batteries with the power grid, optimizing renewable energy use and providing economic benefits for EV owners. Nuvve's joint venture with Stonepeak Partners also offers a fleet-as-a-service model to lower financial barriers for electric fleet adoption.

Positive

• Recognized by Fast Company as a Next Big Things in Tech honoree.
• Innovative V2G technology enhances EV adoption and supports clean energy transition.
• Economic benefits for EV owners through energy savings and new revenue streams.

Negative

• Dependency on widespread adoption of EVs and V2G technology.
• Current business model heavily reliant on sales of charging stations.
• Potential revenue impact from reduced government incentives for EV adoption.

SAN DIEGO, Nov. 18, 2021 /PRNewswire/ -- Nuvve Holding Corp. (Nuvve) (Nasdaq: NVVE), a global cleantech company electrifying the planet at the intersection of energy and transportation through its intelligent energy platform, today announced Fast Company has selected Nuvve to be among the inaugural Next Big Things in Tech honorees. Judged against entries from around the world, Nuvve was acknowledged for its intelligent energy platform that dynamically manages power among electric vehicle (EV) batteries and the grid. Through its advanced vehicle-to-grid (V2G) technology and ecosystem partners, Nuvve delivers new value to EV owners, accelerating the adoption of EVs and the world's transition to clean energy.

As a Next Big Things in Tech honoree, Nuvve's V2G technology is recognized as a breakthrough energy platform that promises to define the future of the transportation industry, as it's on its way to having a positive impact on consumers, businesses, and society at large, especially in the next five years. It's one of the best new tech innovations certain to shape and accelerate our lives, work, culture, and more.

"We're honored to receive this recognition from Fast Company. We know our V2G platform is a much-needed solution to help the world move to a carbon-neutral future by accelerating EV adoption and offsetting the strains that EVs can place on the power grid," said Gregory Poilasne, chairman and CEO of Nuvve. "As the electrification of the world continues, we need to be strategic with how we manage and optimize that electrification. Nuvve is at the nexus of a connected energy ecosystem, and we're proud to be recognized for our work bringing together energy production, grid management, and transportation."

Nuvve has found a way to solve two major global problems—the need to introduce electric transportation to the grid in an intelligent, reliable way and the importance of integrating more renewable power into the grid. Nuvve accomplishes both through its leading V2G platform that makes electric fleet ownership and operation reliable, easy, and more affordable. Owners benefit from savings by charging at times when utility rates are low and new revenue streams through grid services that enable them to sell unused capacity from EV batteries on the energy market. And, through its joint venture with Stonepeak Partners, Levo, Nuvve has removed the upfront financial barrier by using a fleet-as-a-service (FaaS) model to make electric fleet adoption turnkey and affordable.

By aggregating energy capacity through a networked system of EV batteries that serve as a sophisticated virtual power plant (VPP), Nuvve helps optimize the utilization of renewable energy while delivering services that make the grid more stable and resilient. Nuvve is making renewable energy sources and capacity more viable in a way that ensures energy equity, empowers prosumers, and shares the benefits of clean energy with everyone.

About Nuvve Holding Corp. 
Nuvve Holding Corp. (Nasdaq: NVVE) is leading the electrification of the planet, beginning with transportation, through its intelligent energy platform. Combining the world's most advanced vehicle-to-grid (V2G) technology and an ecosystem of electrification partners, Nuvve dynamically manages power among electric vehicle (EV) batteries and the grid to deliver new value to EV owners, accelerate the adoption of EVs, and support the world's transition to clean energy. By transforming EVs into mobile energy storage assets and networking battery capacity to support shifting energy needs, Nuvve is making the grid more resilient, enhancing sustainable transportation, and supporting energy equity in an electrified world. Since its founding in 2010, Nuvve has successfully deployed V2G on five continents and offers turnkey electrification solutions for fleets of all types. Nuvve is headquartered in San Diego, California, and can be found online at nuvve.com.

Nuvve and associated logos are among the trademarks of Nuvve and/or its affiliates in the United States, certain other countries and/or the EU. Any other trademarks or trade names mentioned are the property of their respective owners.

Media Contact 
(W)right On Communications 
Chance Shay 
cshay@wrightoncomm.com 
+1 619-980-5556

Investor Relations 
ICR Inc. 
nuvve@icrinc.com  
+1 646-200-8872

Forward Looking Statements 
The information in this press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact, regarding the Nuvve's strategy, future operations, estimated and projected financial performance, prospects, plans and objectives are forward-looking statements. When used in this press release, the words "could," "should," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Nuvve disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. 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, including the following factors: (i) Nuvve's dependence on widespread acceptance and adoption of electric vehicles, V2G, and increased installation of charging stations; (ii) Nuvve's current dependence on sales of charging stations for most of its revenues; (iii) overall demand for electric vehicle charging and the potential for reduced demand if governmental rebates, tax credits and other financial incentives are reduced, modified or eliminated or governmental mandates to increase the use of electric vehicles or decrease the use of vehicles powered by fossil fuels, either directly or indirectly through mandated limits on carbon emissions, are reduced, modified or eliminated; (iv) potential adverse effects on Nuvve's revenue and gross margins if customers increasingly claim clean energy credits and, as a result, they are no longer available to be claimed by Nuvve; (v) the effects of competition on Nuvve's future business; (vi) risks related to Nuvve's dependence on its intellectual property and the risk that Nuvve's technology could have undetected defects or errors; (vii) changes in applicable laws or regulations; (viii) the COVID-19 pandemic and its effect directly on Nuvve and the economy generally; (ix) risks relating to privacy and data protection laws, privacy or data breaches, or the loss of data; and (x) the possibility that Nuvve may be adversely affected by other economic, business, and/or competitive factors. Should one or more of the risks or uncertainties described in this press release materialize or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the quarterly report on Form 10-Q filed by Nuvve with the U.S. Securities and Exchange Commission (SEC) on May 21, 2021; in the proxy statement/prospectus filed with the SEC under Rule 424(b)(3) on February 17, 2021, and in the other reports that Nuvve has filed and will file from time to time with the SEC. Nuvve's SEC filings are available publicly on the SEC's website at www.sec.gov.

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SOURCE Nuvve Holding Corp.

FAQ

What recognition did Nuvve (NVVE) receive in November 2021?

Nuvve was honored as one of Fast Company's Next Big Things in Tech for its innovative vehicle-to-grid technology.

How does Nuvve's vehicle-to-grid technology benefit EV owners?

Nuvve's V2G technology allows EV owners to save on charging costs and earn income through grid services.

What challenges does Nuvve face in its business model?

Nuvve is dependent on the widespread adoption of electric vehicles and the sales of charging stations for revenue.

What is the significance of Nuvve's joint venture with Stonepeak Partners?

The partnership has created a fleet-as-a-service model, reducing financial barriers for electric fleet adoption.