Nuvve Holding Corp. - NVVE STOCK NEWS

Nuvve Holding Corp (Nasdaq: NVVE) CEO Gregory Poilasne testified in support of California's SB 233, which mandates bidirectional charging capability in new EVs sold by 2027. This legislation aims to facilitate vehicle-to-grid (V2G) integration, enhancing grid resiliency by allowing EV batteries to serve as mobile energy storage. By leveraging V2G technology, EV owners could earn revenue during peak grid stress periods, potentially lowering overall ownership costs. The bill, authored by Sen. Nancy Skinner, aligns with California's goal to make all new cars electric by 2035. Nuvve is recognized as a leader in V2G technology, providing cloud-based software that transforms electric fleets into utility-scale energy resources. The bill received committee approval with amendments.

Nuvve Holding Corp. (Nasdaq: NVVE) reported its fourth quarter and full-year 2022 results, highlighting a 7% increase in megawatts under management to 17.4 megawatts and a backlog of $4.1 million. The company expanded its participation in California's Emergency Load Reduction Program, assisting school districts in securing $24.2 million in EPA funding for 61 V2G-capable electric school buses. Q4 revenue decreased 8.2% to $1.15 million, attributed to a decline in products and services revenue. Despite this, Nuvve reduced operating costs to $7.7 million and anticipates record DC fast charger orders for Q1 2023.

Nuvve Holding Corp. (NASDAQ: NVVE), a leader in vehicle-to-grid (V2G) technology, is set to unveil its financial results for Q4 and the full year of 2022 on March 31, 2023, at 10 AM ET. Prior to the call, a detailed press release will be issued. The company's innovative Nuvve GIVe™ software aims to convert electric vehicles (EVs) into assets that generate revenue while enhancing grid resilience. Currently, Nuvve manages 17.4 megawatts in V2G services globally. The upcoming call will provide insights into the company's overall financial performance and strategic objectives.

Nuvve Holding Corp. (Nasdaq: NVVE) and Circle K AS have launched a groundbreaking project to provide grid services using electric vehicle fast chargers at 50 Circle K service stations in Norway and Denmark. The GIVe™ platform will manage an initial 40 megawatts of charging and storage capacity, expected to generate revenue from services such as frequency regulation starting in 2023. This collaboration will allow Circle K to monetize its EV charging assets, enhancing the grid's stability while promoting renewable energy sources.

Nuvve has been active in Denmark for six years, providing frequency regulation, showcasing its expertise in this sector.

Nuvve Holding Corp. (Nasdaq: NVVE) has engaged Shareholder Intelligence Services, LLC (ShareIntel) to combat suspected illegal naked short selling activities that may have depressed its stock price. ShareIntel will monitor trading patterns to protect shareholders and ensure Nuvve is not targeted by abusive trading. CFO David Robson expressed concerns over market manipulation schemes impacting shareholder value. Utilizing ShareIntel's DRIL-Down™ process, Nuvve aims to track ownership and identify unusual trading activity, reaffirming its commitment to safeguarding shareholder interests and restoring fair market conditions.

Nuvve Holding Corp. (Nasdaq: NVVE) is reminding shareholders to vote at the rescheduled 2022 Annual Meeting on January 25, 2023, at 4:00 p.m. Eastern. The record date for voting is October 31, 2022. Shareholders who already voted do not need to act again. The company encourages all shareholders to read the Proxy Statement filed on November 3, 2022, for detailed information about the meeting. Nuvve focuses on electrification solutions, particularly through vehicle-to-grid technology, supporting the transition to clean energy. Shareholders can contact Advantage Proxy for assistance with voting.

Nuvve Holding Corp. (Nasdaq: NVVE) has strengthened its partnership with Chubu Electric Power by adding three stationary lithium-ion batteries in Japan, increasing its grid service capabilities. This addition contributes 3.74 megawatts, marking over a 20% increase compared to Q3 2022. For the first time, Nuvve's megawatts under management surpass 20. These batteries will enhance the Japanese market by serving as a power source and enabling demand response services, aligning with Japan's goal of achieving net-zero emissions by 2050.