SAN
DIEGO, Nov. 2, 2023 /PRNewswire/ -- Nuvve
Holding Corp. ("Nuvve" or the "Company") (Nasdaq: NVVE), a
global technology leader accelerating the electrification of
transportation through its proprietary vehicle-to-grid (V2G)
platform, announced today that in October it achieved a record
number of 38 AC and DC bidirectional charging station connections —
all linked to its V2G GIVe™ software platform to provide charging
services to an additional 38 electric school buses (or 1.42 MW of
capacity).
The implementation of these new charging stations increases
Nuvve's megawatts under management by 1.4 and brings the total to
22.7 as of October 31, 2023, which is
30% above Nuvve's 17.4 megawatts under management at year-end 2022.
Nuvve's K-12 business unit, which the Company launched in
June 2023 to focus on turnkey
electrification services for student transportation, performed
these deployments. The prior monthly record was 24 chargers
representing 1.1 MW, and with a planned acceleration in connections
in November and December, Nuvve expects to surpass its prior
quarterly record in the fourth quarter of 2023.
"We are thrilled by the momentum Nuvve has gained in the pace of
deployments of our V2G software-equipped fast chargers," said
Nuvve CEO Gregory
Poilasne. "Nuvve's value proposition lies in its
AI-assisted GIVe™ software platform. Through our FleetBox® charge
management app, EV fleet owners can manage many aspects of their
vehicles, including optimizing the readiness of their vehicles,
monitor and optimize the energy used to power their vehicles, and
provide grid services and manage the battery state of health. As we
bring more and more customers onto our GIVe™ platform, we
expect a boost in market awareness and receptivity to Nuvve's
offering, driving continued improvement in growth."
Fleet electrification has been hampered by tightness and
challenges across supply chains that arose in 2021 and continued
through 2022 and into 2023 with fleet owners frequently needing to
wait many quarters between making their initial purchase and having
their electric vehicles and all of the necessary infrastructure in
place and ready for connection. The increased growth rate in
Nuvve's charging station connections signals the beginning stages
of potentially exponential growth and improvement in fleet owner
readiness for their electrification plans as vehicles and
associated electric vehicle supply equipment (EVSE) are delivered
and utility interconnections are established.
About Nuvve Holding Corp.
Nuvve (Nasdaq: NVVE) is a global technology leader accelerating
the electrification of transportation through its proprietary
vehicle-to-grid (V2G) platform. Nuvve's mission is to lower the
cost of electric vehicle ownership while supporting the integration
of renewable energy sources, including solar and wind. For more
information please visit nuvve.com.
Nuvve Investor Contact
ICR
nuvve@icrinc.com | +1 646-200-8872
Nuvve Press Contact
(W)right On Communications
Larry Smalheiser |
lsmalheiser@wrightoncomm.com | +1 925-413-3137
Nuvve Forward Looking Statements
This press release contains forward-looking statements or
forward-looking information within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of forward-looking terms
such as "may," "will," "expects," "believes," "aims,"
"anticipates," "plans," "looking forward to," "estimates,"
"projects," "assumes," "guides," "targets," "forecasts,"
"continue," "seeks" or the negatives of such terms or other
variations on such terms or comparable terminology, although not
all forward-looking statements contain such identifying words.
Forward-looking statements include, but are not limited to,
statements concerning the Company's expectations, plans,
intentions, strategies, prospects, business plans, product and
service offerings, new product launches, potential clinical
successes, and other statements that are not historical facts.
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 the control of
Nuvve. Such statements are based upon the current beliefs and
expectations of management and are subject to significant risks and
uncertainties that could cause actual outcomes and results to
differ materially. Some of these risks and uncertainties can
be found in Nuvve's most recent Annual Report on Form 10-K and
subsequent periodic reports filed with the Securities and Exchange
Commission (SEC). Copies of these filings are available online at
www.sec.gov, https://investors.nuvve.com/ or on request from Nuvve.
These factors should not be construed as exhaustive and should be
read in conjunction with the other cautionary statements that are
included in the Nuvve's filings with the SEC. Such forward-looking
statements speak only as of the date made, and Nuvve disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise. Readers of this press release are cautioned not to
place undue reliance on these forward-looking statements, since
there can be no assurance that these forward-looking statements
will prove to be accurate. This cautionary statement is applicable
to all forward-looking statements contained in this press
release.
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SOURCE Nuvve Corporation