Nuvve and Power Electronics Reach an Agreement to Expand High-Powered V2G Charging Station Line-Up in North America and Europe
Multinational world storage leader to integrate Nuvve’s GIVeTM platform into charging stations for customers around the world
SAN DIEGO, CA and VALENCIA, SPAIN – May 10, 2022 – Nuvve Holding Corp. (Nasdaq: NVVE), a global cleantech company electrifying the planet at the intersection of energy and transportation through its intelligent energy platform, and Power Electronics, first manufacturer of solar inverters for utility-scale photovoltaic plants in America, Oceania and Europe, today announced an agreement to integrate Nuvve’s vehicle-to-grid (V2G) GIVeTM platform with Power Electronics charging station technology to help intelligently electrify vehicles and help achieve global decarbonization goals. Through the partnership, Power Electronics will add Nuvve V2G-certified capabilities to their existing bidirectional chargers.
Nuvve’s cloud-based software allows Power Electronics to go beyond bidirectional charging – that is, allowing an electric vehicle (EV) to send energy back to the grid – by enabling EVs to provide capacity and services that help stabilize the grid and prevent blackouts. By allowing EVs to store energy, including that from intermittent sources such as solar and wind, Nuvve’s system helps increase renewable energy integration, while always prioritizing the mobility needs of the driver.
“By working with a global company like Power Electronics, we are diversifying the high-powered V2G charging offerings for our customers around the world,” said Lynn Ames, vice president of Partnerships at Nuvve. “Through our integration, electric fleets can be integrated in a way that makes the grid more flexible, reliable, and resilient. This is critical to further reduce greenhouse gas emissions and slow climate change.”
Power Electronics has the most advanced technology in its production plant, where the vertical integration of the entire process is one of its main features. Through its main divisions: solar energy, energy storage and electrical mobility, Power Electronics promotes renewable energies across the globe.
“By integrating Nuvve’s technology, we will achieve a solution that will have a direct impact on decarbonization, allowing both companies to continue to pioneer the V2G market,” said Ron Puryear, vice president and general manager of Power Electronics in the United States.
Integration between the companies is targeted to be complete by the end of the year to provide unidirectional and bidirectional charging with Nuvve’s V2G-certified options for customers first in Europe, followed by a steady rollout into a global alliance. The high-powered solution expands Nuvve’s existing line-up of to medium- and heavy-duty charging station offerings for fleet customers, including school buses, work trucks, and more.
Nuvve sits at the center of an ecosystem of electrification partners it has assembled including automakers, EV dealers, charging infrastructure providers, technology solutions, and utilities to offer turnkey energy management solutions for different types of fleets throughout Europe, Asia, and North America. Through its platform, Nuvve helps lower the total cost of ownership of EVs while creating a more sustainable grid.
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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.
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About Power Electronics
Power Electronics is the world energy storage leader and the first manufacturer of solar inverters for utility-scale photovoltaic plants in America, Oceania, Asia and Europe. With a presence in more than 1600 renewable energy projects around the world, and more than 60GW of installed AC power, it has avoided the emission of more than 60.5 million tons of CO2 into the environment. www.power-electronics.com
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