Nuvve’s cloud-based software enables Power Electronics to go beyond bi-directional charging, i.e. allowing an electric vehicle (EV) to send power back to the grid, by enabling EVs to provide capacity and services that help stabilize the network and prevent outages. By enabling electric vehicles to store energy, including that from intermittent sources such as solar and wind, Nuvve’s system helps increase the integration of renewables, while always prioritizing needs. driver mobility.
“By working with a global company like Power Electronics, we are diversifying high-power V2G charging offerings for our customers around the world,” said Lynn Ames, Vice President of Partnerships at Nuvve. “Through this collaboration, electric fleets can be integrated in a way that makes the grid more flexible, reliable and resilient. This is essential 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 whole process is one of its main characteristics. Through its main divisions: solar energy, energy storage and electric mobility, Power Electronics promotes renewable energies throughout the world.
“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 PuryearVice President and General Manager of Power Electronics at United States.
Integration between the companies is expected to be completed by the end of the year to provide one-way and two-way charging with Nuvve’s V2G-certified options for customers first in Europe, followed by regular deployment in a global alliance. The high-power solution extends the existing range of Nuvve charging stations to medium and heavy-duty charging station offerings for fleet customers, including school buses, work trucks, and more.
Nuvve is at the center of an ecosystem of electrification partners it has brought together, including automakers, electric vehicle dealers, charging infrastructure providers, technology solutions and utilities to deliver turnkey energy management for different types of fleets around the world. Europe, Asiaand North America. Through its platform, Nuvve helps reduce the total cost of ownership of electric vehicles while creating a more sustainable network.
About Nuvve Holding Corp.
Nuvve Holding Corp. (Nasdaq: NVVE) is leading the electrification of the planet, starting with transportation, through its smart energy platform. Combining the world’s most advanced vehicle-to-grid (V2G) technology and an ecosystem of electrification partners, Nuvve dynamically manages power between electric vehicle (EV) batteries and the grid to deliver new value to owners technology, accelerate EV adoption and support the global transition to clean energy. By transforming electric vehicles into mobile energy storage assets and networking battery capacity to meet changing energy needs, Nuvve makes the grid more resilient, improves sustainable transportation, and supports energy equity in an electrified world. Since its inception in 2010, Nuvve has successfully deployed V2G across five continents and offers turnkey electrification solutions for fleets of all types. Nuvve is headquartered in San Diego, Californiaand can be viewed online at nuvve.com.
Nuvve and associated logos are among the trademarks of Nuvve and/or its affiliates in United States, certain other countries and/or the EU. All other trademarks or trade names mentioned are the property of their respective owners.
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About power electronics
Power Electronics is the world leader in energy storage and the leading manufacturer of solar inverters for large-scale photovoltaic power plants in America, Oceania, Asia and Europe. With a presence in more than 1600 renewable energy projects around the world and more than 60 GW of installed alternating current, it has avoided the emission of more than 60.5 million tons of CO2 into the environment.
Nuvve Forward-Looking Statements
The information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding Nuvve and Nuvve’s strategy, future operations, estimated and projected financial performance, outlook, plans and objectives are statements prospective. When used in this press release, the words “could”, “should”, “will”, “could”, “believe”, “anticipate”, “intend”, “estimate”, ” expect, “project”, the negative of these terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions regarding future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Nuvve disclaims any obligation to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. . Nuvve cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond Nuvve’s control. In addition, Nuvve cautions you that the forward-looking statements contained in this press release are subject to the following factors: (i) risks relating to the deployment of Nuvve’s business and the timing of expected business milestones; (ii) Nuvve’s dependence on the widespread acceptance and adoption of electric vehicles and the increased installation of charging stations; (iii) Nuvve’s ability to maintain effective internal controls over financial reporting; (iv) Nuvve’s current reliance on charging station sales for most of its revenue; (v) the overall demand for electric vehicle charging and the potential for demand reduction if government rebates, tax credits and other financial incentives are reduced, modified or eliminated or if government mandates increase vehicle use electric vehicles or decrease the use of fossil fuel-powered vehicles the fuels, directly or indirectly through mandatory limits on carbon emissions, are reduced, modified or eliminated; (vi) potential negative effects on Nuvve’s backlog, revenues and gross margins if customers increasingly claim clean energy credits and as a result they are no longer available for claim by Nuvve ; (vii) the effects of competition on Nuvve’s future business; (viii) risks relating to Nuvve’s reliance on its intellectual property and the risk that Nuvve’s technology may have undetected defects or errors; (ix) the risk that we conduct part of our business through a joint venture exposes us to risks and uncertainties, many of which are beyond our control; (x) that our joint venture with Levo Mobility LLC may not generate the expected financial results, and the return may be insufficient to justify our investment of effort and/or funds; (xi) changes in applicable laws or regulations; (xii) the COVID-19 pandemic and its direct effects on Nuvve and the economy generally; (xiii) risks related to disruption of ongoing business operations management time due to our joint ventures; (xiv) risks relating to privacy and data protection laws, breaches of privacy or data, or loss of data; (xv) the possibility that Nuvve may be adversely affected by 3 other economic, business and/or competitive factors, including rising inflation and interest rates, and the Russian invasion of Ukraine; and (xvi) risks related to the expected benefits of the $1.2 trillion infrastructure bill passed by the US House of Representatives (HR 3684). Should one or more of the risks or uncertainties described in this press release materialize, or should underlying assumptions prove incorrect, actual results and plans may differ materially from those expressed in the forward-looking statements. Additional information regarding these and other factors that may affect the operations and projections described in this document is available in Nuvve’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC ) the March 31, 2022, and in other reports that Nuvve has and will file from time to time with the SEC. Nuvve’s filings with the SEC are publicly available on the SEC’s website at www.sec.gov.
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