Nuvve Achieves Record Month and Record Quarter for Charging Station Deployments

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Dec 07, 2023, 09:00 ET

SAN DIEGO, Dec. 7, 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 it achieved another record month in November for the addition of chargers connected to its V2G GIVe™ software platform, with the addition of 43 AC and DC bidirectional charging station connections which represents 1.42 MW of additional capacity.

Through the first two months of the fourth quarter 2023 Nuvve added 81 chargers to its proprietary vehicle-to-grid (V2G) platform, which compares to 18 chargers deployed for the first two months of the fourth quarter 2022, an increase of 350%. With one month remaining in the fourth quarter of 2023, Nuvve has already surpassed its prior quarterly record for chargers added to its V2G GIVe™ software platform. Year to date through November 2023, megawatts under management have increased by 39% to 24.2.

"We are delighted with the continued acceleration of deployments of V2G software-equipped fast chargers to Nuvve's GIVe™ software platform," 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
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