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Nuvve Holding Corp. (Nasdaq: NVVE) is a pioneering green energy technology company specializing in vehicle-to-grid (V2G) technology. Nuvve's innovative Grid Integrated Vehicle (GIVe) platform enables bidirectional energy flow, allowing electric vehicle (EV) batteries to store and resell unused energy back to the grid. This technology not only supports the integration of renewable energy sources like solar and wind but also significantly reduces the cost of EV ownership.
Headquartered in San Diego, California, Nuvve operates globally, with a presence in the United States, United Kingdom, and Denmark. The company has amassed 18.3 megawatts under management, demonstrating its capability to transform electric fleets into mobile storage resources. Nuvve's platform offers a flexible suite of V2G, charge management, and grid services that bolster grid resilience and generate recurring revenue to offset fleet operation costs.
Recent achievements include regaining compliance with Nasdaq Listing Rule 5550(a)(2) and anticipating 2023 revenues to exceed $8 million. Nuvve continues to expand its market presence, forecasting revenues of $15 million to $20 million for 2024. The company is actively securing fleet electrification partners, evidenced by its partnership with Guangzhou Great Power Energy and Technology Corporation to accelerate stationary storage battery deployments.
Nuvve's commitment to a net-zero future is reflected in its strategic initiatives, such as launching the NuvveV2GHubs website, providing centralized information on its V2G Hub projects. These hubs aim to reduce electric fleet costs, improve grid resiliency, and speed up the transition to a decarbonized transportation sector. Nuvve is also exploring strategic transaction opportunities with Cappello Global to support its growth and financial objectives.
Stay updated with Nuvve’s latest developments, including financial results, strategic partnerships, and future projects, by visiting nuvve.com.
Nuvve Holding Corp. (Nasdaq: NVVE) showcased a breakthrough in AC Vehicle-to-Grid (V2G) technology at an Exelon-hosted event. The demonstration featured Nuvve's PowerPort3 Ultra chargers enabling Ford Mach-E EVs to provide grid services using SAE J3068/2 standards. This innovation aligns with safety and regulatory requirements, positioning Nuvve as a leader in V2G technology.
The global V2G market is projected to reach $34.7 billion by 2034, growing at a CAGR of 22.7% from 2024 to 2034. Nuvve's GIVe™ aggregator software plays a important role in integrating EVs into the grid efficiently. The company's compliance with FERC Order 2222 strengthens its position to capture value from distributed energy resources.
The event demonstrated Nuvve's ability to provide scalable solutions for grid stabilization, a critical component in the transition to clean energy. Over the coming year, the performance of V2G-enabled Ford Mach-E vehicles will be monitored to assess their value as both fleet vehicles and grid assets.
Nuvve Holding Corp. (Nasdaq: NVVE), a leader in vehicle-to-grid (V2G) technology, has issued a letter to shareholders regarding actions taken to regain compliance with Nasdaq's Bid Price Rule. The company recently executed a 1-for-10 reverse stock split, resulting in 652,727 shares outstanding. Nuvve encourages shareholders to protect their shares against market manipulation through measures such as holding shares in cash accounts and requesting "no loan" status.
The company has provided a link to the full shareholder letter on their website and offered an investor relations contact for further information. This update demonstrates Nuvve's efforts to maintain its Nasdaq listing and address potential market manipulation concerns.
Nuvve Holding Corp. (Nasdaq: NVVE) has announced its first deployment in New Mexico in partnership with Las Cruces Public Schools. The project involves the installation of 5 Vehicle-to-Grid (V2G)-capable DC Fast Chargers and 7 Nuvve Level II PowerPorts to support the school district's transition to electric school buses and other electric vehicles. This collaboration aims to expand electric vehicle infrastructure within the educational sector and marks a significant milestone for both parties.
The partnership leverages Nuvve's GIVe™ platform for bidirectional energy management, transforming the school district's electric vehicles into grid-integrated energy storage resources. This initiative is expected to optimize energy usage, reduce costs, and support the integration of renewable energy sources. The project represents the first commissioned Nuvve chargers with Thomas buses in New Mexico, potentially paving the way for broader adoption of electric school buses across the state.
Nuvve Holding Corp. (Nasdaq: NVVE) has announced a 1-for-10 reverse stock split effective September 16, 2024, at 5:00 p.m. Eastern Time. Trading on a split-adjusted basis will begin on September 17, 2024. This move will reduce the number of issued and outstanding shares from approximately 6.5 million to 0.7 million. The company's stock will continue trading under the symbol 'NVVE' with a new CUSIP number.
The reverse split aims to help Nuvve regain compliance with Nasdaq's minimum bid price requirement of $1.00 per share. Proportional adjustments will be made to outstanding stock options, restricted stock units, and warrants. No fractional shares will be issued, and fractional shares will be rounded up to the nearest whole share.
Nuvve Holding Corp. (Nasdaq: NVVE) and WISE EV have partnered to create a network of public high-speed EV charging stations across the US. The initiative aims to install chargers at over 100 high-traffic locations, addressing range anxiety and promoting EV adoption. These stations will integrate Nuvve's vehicle-to-grid (V2G) technology, providing essential grid services and stability during peak usage times.
The partnership's first wave of charging stations will be unveiled at the Minority Business Enterprise Input Committee Open House in Las Vegas. This collaboration between Nuvve, a leader in V2G technology, and WISE EV, a sustainable energy solutions provider, represents a significant step towards expanding EV infrastructure and supporting the growing electric vehicle market.
Nuvve Holding Corp. (Nasdaq: NVVE) released its Q2 2024 financial update. Key highlights include:
- Revenue decreased 62.2% to $0.80 million
- Net loss decreased 50.5% to $3.9 million
- Operating expenses reduced to $6.0 million from $8.5 million in Q2 2023
- Cash and cash equivalents of $1.4 million as of June 30, 2024
- Megawatts under management increased 8.0% to 27.1 megawatts
Nuvve partnered with Great Power, broke ground on Fresno EOC's $16M 50-shuttle fleet project, and completed installation of chargers at Chinle Unified School District. The company highlighted its V2G solutions at various tradeshows and conferences, focusing on total cost of ownership benefits for fleet operators.
Nuvve Holding Corp. (Nasdaq: NVVE), a green energy technology company specializing in vehicle-to-grid (V2G) solutions, has announced its upcoming second quarter 2024 financial update. The company will host an investor conference call on Tuesday, August 13, 2024, at 5:00 PM Eastern Time (2:00 PM PT) to discuss its financial results and other company developments.
Investors and interested parties can participate in the call by registering for a live webcast available in the 'Events' section of Nuvve's investor relations website. A replay of the call will also be made available for future access. This update provides an opportunity for stakeholders to gain insights into Nuvve's financial performance and recent progress in the rapidly evolving V2G technology sector.
Nuvve Holding Corp. (Nasdaq: NVVE) has been awarded a $16 million contract by Fresno Economic Opportunities Commission (EOC) for a groundbreaking energy project in Fresno, California. The project aims to improve air quality, reduce operational costs, and supply additional electricity to the grid during peak hours.
Key components of the project include:
- A three-acre solar farm
- Solar canopies
- 56 charging stations
- Transition of Fresno EOC's fleet to 50 electric shuttles
- Implementation of Nuvve's vehicle-to-grid (V2G) technology
The project is expected to take 24 months to complete and will employ about 80% of the required workforce from the Fresno area. This initiative marks a significant step towards reducing Fresno's carbon footprint and creating local job opportunities in the green energy sector.
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.
Nuvve Holding Corp. (NVVE), a green energy technology company, released its Q1 2024 financial update. Key highlights include the deployment of their 500th electric school bus EVSE, increased managed megawatts by 6.0% to 26.6 MW, and selection for Fresno EOC's $16M fleet project. However, Q1 revenue fell 58% to $0.78M from $1.85M in Q1 2023, primarily due to lower product and services sales. Operating expenses excluding cost of sales fell to $7.5M from $8.3M in Q1 2023. The net loss decreased 12.2% to $6.7M from $7.7M. Cash reserves stood at $5.3M as of March 31, 2024.
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