Nuvve Selected by Energinet.dk to Be the First Electric Vehicle Aggregator to Support the Danish Grid

SAN DIEGO, May 17, 2016 /PRNewswire/ -- Nuvve's GIVe™ Platform, the first electric vehicle aggregator to be approved by different Transmission/Independent System Operators (TSO/ISO) in order to support the transmission of electric power also known as Ancillary Services, is adding one more TSO. Denmark-based TSO Energinet.dk, recently selected GIVeTM to support Ancillary Services, specifically Primary Reserve.

The GIVe platform utilizes electric vehicles with bidirectional capabilities to control the flow of energy either from the grid to the car or from the car back to grid. It does this by continuously monitoring and controlling any instantaneous difference that occurs between the energy production and the energy consumption. This service requires a system that is fast, accurate, secured and auditable.

"The qualification by Energinet.dk will open the door to a full commercialization in collaboration with other partners that will be announced very soon" shared Marc Trahand, Nuvve COO in Europe. "The commercialization of such a system benefits the Danish grid by better integrating renewable energy sources and also benefits electric vehicle owners by the reducing the cost of ownership," added Trahand. Indeed, Nuvve's business model is to share the revenue generated by the participation in the Ancillary Services markets with the car owners. Various service plans will soon be presented in Denmark.

"The Primary Reserve is the first service that electric vehicles can perform," shared Bjoern Christensen, Danish born and in charge of Strategy at Nuvve. "In our work with different partners during the Nikola project, we developed many other energy services that will be rolled out over time.  These services will continue to bring more value to electric vehicle owners," added Christensen.

About Nuvve: NuvveCorp. is a San Diego based company, whose mission is to lower the cost of electrical vehicle (EV) ownership while supporting the integration of renewable energy sources, such as wind and solar. Our Grid Integrated Vehicle platform GIVe™transforms EVsinto grid assets when charging while guaranteeing the expected level of charge when the vehicle owner needs it. The aggregation of thousands of electric vehicles into a virtual power plant using the GIVeplatform, allows Nuvveto participate in electricity markets with a power capacity comparable to traditional generators. Based on "Vehicle To Grid" technology or "v2g" the GIVeplatform benefits public organizations, businesses and homes by reducing the cost of electric infrastructure and reducing CO2 emissions.  www.nuvve.com

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SOURCE Nuvve Corp.

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