SAN DIEGO, Calif.— Nuvve Holding Corp. (Nuvve) (Nasdaq: NVVE), a global cleantech company electrifying the planet at the intersection of energy and transportation through its intelligent energy platform, today announced an agreement with New Hampshire Electric Cooperative (NHEC), a member-owned, not-for-profit electric co-op, to provide first-of-its-kind storage capabilities to the Plymouth-based utility for a fixed yearly fee. The agreement demonstrates the value utilities such as NHEC are starting to place in vehicle-to-grid (V2G) solutions.
Nuvve’s V2G technology allows EV batteries to serve as distributed energy resources (DERs) that can deliver added capacity to the grid at critical times and integrate renewables in a more reliable way. This helps utilities manage shifting energy needs and balances the grid through services such as reducing peak demand. This can result in lower utility bills for ratepayers while contributing to local decarbonization.
“We are proud to further our strategic planning objectives by partnering with Nuvve in this innovative solution using an electric bus,” said Brian Callnan, NHEC’s vice president of power resources and access. “Helping to electrify our members’ transportation needs with a more efficient and cleaner technology while providing much-needed services to our distribution grid is a win-win for all our members.”
In recent months, vehicle-to-grid (V2G) has received increased attention, including funding in the $1.2 trillion Infrastructure and Jobs Act and Build Back Better Framework to be considered by the U.S. Senate. Lawmakers understand how critical it is to invest in technology that helps reduce the stress that added demand from electric vehicles (EVs) will place on the grid. Utilities are also starting to understand V2G benefits for their stakeholders and communities.
“The potential impact of V2G technology for forward-thinking utilities like NHEC is immense,” said Gregory Poilasne, chairman and CEO of Nuvve. “By using EVs to store energy and provide grid services, we can help lower utility costs, create grid resiliency, mitigate the need for costly grid upgrades, and share the benefits with everyone to create energy equity. We want to thank the team at NHEC for this ground-breaking partnership and look forward to advancing the energy transition in the region together.”
Co-ops like NHEC exist to serve their members and enhance their communities. With Nuvve as a partner, NHEC can help ensure their members have access to energy when they need it, at prices that remain consistent and equitable while working to decarbonize the grid.
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.
