Welcome to our dedicated page for Nuvve Holding news (Ticker: NVVE), a resource for investors and traders seeking the latest updates and insights on Nuvve Holding stock.
Nuvve Holding Corp. (Nasdaq: NVVE) is an energy technology company that focuses on intelligent energy management, vehicle-to-grid (V2G) capabilities, and energy storage. News about Nuvve frequently covers its efforts to turn batteries, electric vehicles, buildings, and distributed assets into dynamic grid resources using its advanced platform for flexible energy.
Investors and observers following NVVE news can expect regular updates on the company’s strategic focus on energy storage and microgrids, as described in its letter to stockholders. Recent announcements highlight a shift toward stationary energy storage systems and microgrids in regions such as Northern Europe, the United States, Japan, and South Korea, while continuing to support V2G innovation.
Nuvve’s news flow also includes project and partnership announcements. Examples include Nuvve New Mexico’s Battery-as-a-Service projects with Kit Carson Electric Cooperative in northern New Mexico, a memorandum of understanding with the City of Socorro and Socorro Electric Cooperative to advance electrification and grid resilience, and Nuvve Japan’s grid-scale battery energy storage project in Mino City, Gifu Prefecture. In Europe, Nuvve Denmark’s collaboration with E&B Renewables to develop battery energy storage systems in Denmark and the Nordic and Baltic countries is another recurring topic.
Capital markets and listing-related developments are another important category of NVVE news. Press releases describe Nuvve’s reverse stock split, private placements of Series A Convertible Preferred Stock and warrants, an equity line of credit facility, and subsequent confirmation from Nasdaq that the company has regained compliance with minimum bid price and stockholders’ equity rules. Readers can also find coverage of Nuvve’s participation in Korea’s national-scale energy storage systems auction through the NuvveVolt consortium.
This news page aggregates these types of updates so that users can review Nuvve’s project pipeline, regional initiatives, financing actions, and regulatory milestones in one place.
Nuvve Holding Corp (Nasdaq: NVVE) and Blue Bird Corporation (Nasdaq: BLBD) have launched the largest vehicle-to-grid (V2G) project for electric school buses in Ramona Unified School District, California. Eight electric school buses, equipped with Nuvve's GIVe™ technology, will sell stored energy back to the grid during peak demand, generating potential savings of up to $7,200 per bus annually through SDG&E's Emergency Load Reduction Program. This initiative supports the transition to zero-emission transportation, bolstered by the Biden-Harris Administration's Clean School Bus Rebate program, which allocates nearly $1 billion for such projects.
Nuvve Holding Corp. (Nasdaq: NVVE) reported a second quarter 2022 revenue of $1.3 million, up 32.6% from the previous year. Key developments included partnerships with Switch and the U.S. Department of Energy to enhance vehicle-to-grid (V2G) technology. However, the company faced a net loss of $53.4 million, a 762.3% increase year-over-year, attributed to rising operating and other expenses. Cash reserves stand at $14.9 million as of June 30, 2022. Nuvve is optimistic about future growth, leveraging federal support for electric school buses and expanding utility partnerships.
Nuvve Holding Corp. (NVVE) has partnered with Maine Maritime Academy to establish a Center for Maritime Vehicle-to-Grid (V2G) solutions. This initiative aims to enhance capabilities in data science, cybersecurity, and artificial intelligence, specifically for maritime applications. The collaboration will explore V2G technologies in ports and waterways, transforming marine vessels into grid resources. The partnership also includes workforce training programs related to V2G technology, enhancing both academic and practical skills for students. This strategic move is positioned to support the transition to cleaner energy in maritime operations.
Nuvve (Nasdaq: NVVE) has partnered with Vistra (NYSE: VST) to assist U.S. school districts in electrifying their bus fleets. The collaboration aids districts in accessing over $4.5M in grant funding to replace older diesel buses with electric ones. This initiative not only reduces greenhouse gas emissions but also leverages Nuvve's vehicle-to-grid (V2G) technology for energy management. This innovative approach allows schools to potentially earn revenue by returning energy to the grid, while benefiting from reduced maintenance costs and enhanced fleet management.
Nuvve Holding Corp. (NASDAQ: NVVE) announced a registered direct offering of 2.15 million shares at $3.50 per share, along with pre-funded warrants for 1.85 million shares priced at $3.4999 each, and warrants for 4 million shares at an exercise price of $3.75. The gross proceeds are estimated at $14 million, to be used for working capital and general corporate purposes. The offering is expected to close around July 29, 2022, pending customary conditions. Craig-Hallum Capital Group LLC is the exclusive placement agent.
San Diego Gas & Electric (SDG&E) has launched a pioneering vehicle-to-grid (V2G) project, allowing eight electric school buses to supply electricity back to the grid, particularly during peak demand. This initiative, a collaboration with Nuvve and Cajon Valley Union School District, is the first of its kind in Southern California and follows the U.S. Department of Energy’s V2X initiative. With the installation of six 60kW bi-directional chargers, this pilot project aims to enhance energy security while promoting eco-friendly solutions.
Nuvve Holding Corp. (Nasdaq: NVVE) has partnered with San Diego Gas and Electric (SDG&E) to implement an Emergency Load Reduction Program (ELRP) utilizing its Vehicle-to-Grid (V2G) technology. This initiative enables electric school buses to return energy to the grid during peak demands, generating revenue of $2 per kWh for verified load reductions. The collaboration aims to alleviate stress on California's energy grid and support school districts in offsetting electric fleet costs while ensuring buses remain charged for their routes.
Nuvve Holding Corp. (Nasdaq: NVVE) has partnered with Switch to integrate its vehicle-to-grid (V2G) technology with Switch's electric vehicle charging management platform. This strategic investment aims to enhance interoperability among EV charging stations, vehicles, and the grid, ultimately increasing the Megawatts Under Management. By combining both companies' technologies, the partnership seeks to optimize fleet performance, reduce costs of EV ownership, and improve the overall customer experience, facilitating global EV adoption.
Nuvve Holding Corp. (Nasdaq: NVVE) reported a significant increase in revenue for Q1 2022, reaching $2.4 million, up 196.7% from $0.8 million in Q1 2021. The company attributed this growth to a $1.9 million rise in products and services revenue. However, the cost of services increased by $2.0 million, leading to a margin decline to 4.9%. Total cash and equivalents stood at $23.7 million. Despite the revenue growth, Nuvve posted a net loss of $9.1 million, a 69.2% year-over-year increase compared to $5.4 million in 2021.
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