Nuvve Selected as Collaboration Partner with United States Department of Energy to Accelerate V2G Technology
Nuvve joins government, labor, and other industry leaders to ensure EVs are intelligently integrated into the grid
SAN DIEGO, CA – April 20, 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, took part in a press event earlier today led by the U.S. Department of Energy (DOE) to sign a Memorandum of Understanding (MOU) to work with government agencies, utilities, and electrification industry leaders to accelerate the commercialization of vehicle-to-grid (V2G), vehicle-to-building (V2B), vehicle-to-home (V2H), and other vehicle-grid integration (VGI) technologies. The DOE initiated this agreement to bring together a mix of public entities and private companies to ensure the electrification of electric vehicle (EV) fleets incorporates bidirectional charging that can send power back to the grid, thereby reducing building loads, providing grid services, and creating revenue opportunities for EV owners.
Nuvve was selected for its many years of experience commercially deploying V2G around the world, including solutions to electrify school buses and commercial fleets here in the U.S. The company has extensive experience working with transmission system operators (TSOs) around the world, including a recent approval from the TSO in Japan, to provide capacity and flexibility services to the grid. Nuvve’s intelligent energy management platform enables VGI at all levels – from smart charging and V1G to V2B/V2H and V2G – and acts as an “aggregator” to combine the power from a fleet of EV batteries to form virtual power plants (VPPs) that help stabilize the grid and prevent blackouts. Nuvve’s solution also utilizes energy stored in EVs to lower the energy demanded by buildings and homes and provide emergency back-up capabilities while meeting the mobility needs of drivers.
“Nuvve is honored to be recognized by the DOE as an industry leader and believes our proven VGI technology and long-standing experience working with automakers, charging station manufacturers, and utilities will add value to the ecosystem needed to intelligently integrate EVs into the grid here in the U.S.,” said Gregory Poilasne, chairman and CEO of Nuvve. “We look forward to collaborating with the DOE to make V2G and V2B/V2H more ubiquitous and available to fleets and EV owners across the country.”
Nuvve has already assembled an ecosystem of electrification partners including automakers, EV dealers, charging infrastructure providers, technology solutions, and utilities to offer turnkey energy management solutions for different types of fleets, from school buses to municipal and last-mile delivery vehicles. Nuvve also recently announced a partnership with Swell Energy to combine V2G with solar generation and battery storage for both residential and commercial applications. Through its platform, Nuvve offers cost savings and new revenue opportunities to EV owners, helping to 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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