Nuvve Holding Corp. - NVVE STOCK NEWS

Nuvve Holding Corp. (Nasdaq: NVVE) released its fourth quarter and full-year 2021 update, reporting a 14.6% decline in total revenue to $1.2 million compared to $1.5 million in Q4 2020. The decrease stemmed from lower grants revenue. Significant increases in selling, general, and administrative expenses rose by 172.3% to $6.5 million, primarily due to compensation and governance costs. The net loss surged 238.9% to $8.6 million. Despite challenges, Nuvve launched key V2G partnerships and reported $32.4 million in cash reserves as of December 31, 2021. A conference call is scheduled for today.

Nuvve Holding Corp (Nasdaq: NVVE), a leader in electrification, will report its Q4 and full-year 2021 financial results on March 31, 2022, at 5 PM ET. The results will be available post-market close, followed by an investor conference call. Nuvve's intelligent energy platform supports the transition to clean energy by leveraging vehicle-to-grid technology to manage electric vehicle (EV) batteries and integrate them with the grid. The company has operations across five continents, driving the adoption of EVs and enhancing energy resilience.

Nuvve Holding Corp. (Nasdaq: NVVE) and Swell Energy Inc. have announced a strategic partnership to enhance opportunities for electric vehicle (EV) integration into Swell's virtual power plant (VPP) network. This collaboration aims to optimize battery storage, solar energy, and intelligent EV charging in both residential and commercial sectors. Nuvve's GIVe™ platform will facilitate bidirectional vehicle-to-grid (V2G) charging, providing grid services and revenue opportunities. The partnership intends to deliver significant energy efficiency and cost savings while expanding Nuvve's reach into the residential market.

Levo Mobility LLC, a joint venture of Nuvve Holding Corp. (Nasdaq: NVVE), Stonepeak Partners, and Evolve Transition Infrastructure LP (NYSE: SNMP), has secured a 10-year contract with Troy Community Consolidated School District 30-C in Illinois. This partnership aims to convert the district's fleet of 64 school buses to zero-emission vehicles within five years. Levo will provide comprehensive services including site planning, infrastructure installation, and energy management, facilitating a sustainable electrification effort while minimizing costs through available rebates.

Levo Mobility LLC, a joint venture of Nuvve Holding Corp. (Nasdaq: NVVE) and others, has appointed Maggie Clancy as Chief Commercial Officer and Walter Watson as Chief Operating Officer to enhance its leadership. Clancy, with 23 years of experience, previously led the EV strategy at National Express, while Watson has 15 years in operations and finance roles. Their addition aims to strengthen Levo's position in the electric vehicle (EV) market and support its mission to electrify transportation across the U.S.

Nuvve Holding Corp. (Nasdaq: NVVE) has announced a joint venture with 2021.AI Aps to enhance its Grid Integrated Vehicle (GIVe) V2G platform by integrating the AI platform Grace. Named Astrea AI^TM, this collaboration aims to optimize services offered by Nuvve's V2G technology by leveraging advanced predictive analytics and machine learning. The partnership will help forecast fleet behavior, enhancing efficiency and grid services. The joint venture aims to benefit municipalities, energy cooperatives, and utilities amidst increasing EV adoption.

Fairfax School District in Vermont has introduced two electric-powered school buses from Blue Bird to its fleet this school year. Funded by the Volkswagen Environmental Mitigation Trust, this pilot program aims to evaluate electric bus performance in Vermont's climate. The Blue Bird buses are equipped with the Cummins PowerDrive EV system and utilize charging solutions from Nuvve Holdings. The initiative could save up to $36,000 in fuel costs annually per bus while significantly reducing greenhouse gas emissions.

Nuvve Holding Corp (Nasdaq: NVVE) announced the appointment of Rashida La Lande to its Board of Directors, effective January 14, 2022. La Lande, currently with Kraft Heinz, brings extensive experience in ESG initiatives and government relations, which Nuvve believes will bolster its strategic direction. Her background includes corporate law, mergers and acquisitions, and a strong focus on sustainability. Nuvve aims to leverage her expertise to enhance its intelligent energy platform, promoting the electrification of transportation and supporting clean energy transitions.

Nuvve Holding Corp. and Colorado/West Equipment announced the deployment of Colorado's first vehicle-to-grid (V2G) electric school bus in Durango School District 9-R. Supported by a Volkswagen Diesel Emissions Settlement grant of $68.7 million, the project integrates Nuvve's V2G technology with Blue Bird's electric buses, allowing bidirectional charging. The bus, operating on a 75-mile daily route, will provide energy to the grid at peak hours and charge overnight. This initiative aims to lower costs and support the transition to cleaner energy for schools and local communities.