| Market Capitalization (Millions $) |
1 |
| Shares
Outstanding (Millions) |
0 |
| Employees |
45 |
| Revenues (TTM) (Millions $) |
6 |
| Net Income (TTM) (Millions $) |
-24 |
| Cash Flow (TTM) (Millions $) |
4 |
| Capital Exp. (TTM) (Millions $) |
0 |
Business Description
Nuvve is spearheading the worlds electrification, beginning with transportation. We think that electrification will unlock the benefits of clean energy and the tremendous influence it will have on our society and the world, based on the need to store and maximize renewable energy sources.
Via our intelligent energy platform, Nuvve has established a new paradigm for electrification. Nuvve provides extensive experience and technology solutions that improve the sophistication, efficiency, and cost-effectiveness of electric cars. Nuvve dynamically regulates electricity between EV batteries and the grid by combining the worlds most advanced vehicle-to-grid (V2G) technology with our community of partners. These networked batteries work together to augment altering energy requirements and contribute to a more robust grid. When all of the worlds batteries are intelligently linked, everyone has an opportunity to share in the benefits of an electrified world. Nuvve is delivering new value to owners, accelerating the adoption of EVs and the world's transition to clean energy.
Nuvve's longest running commercial operation is in Denmark, where it has provided V2G services for more than five years with daily bidding on energy markets. Specifically, this operation aggregates a coalition of EV batteries to provide a primary frequency containment reserve ('FCR') service to the local transmission system operator. The frequency of the current transmitted on an electrical grid is affected by the demand placed on the grid. By acting as a reserve to store or release energy into the grid in order to offset variations in demand, the FCR service provided by Nuvve's GIVe platform assists the local system operator in the critical task of frequency regulation.
The V2G services revenue gives Nuvve's customers a lower total cost of EVs ownership through benefits such as reduced charger costs, low or free energy costs to drive, fleet management tools, and yearly maintenance. This Denmark deployment showcases Nuvve's ability to adapt its V2G software to match requirements for market participation and interconnection to the grid ' vehicles in this commercial V2G operation are each connected to 10kW bidirectional DC chargers that are controlled by Nuvve's V2G GIVe platform. As each vehicle is plugged in, Nuvve's software automatically takes control of each vehicle's charging and discharging. Nuvve aggregates multiple EVs into a VPP. The total available capacity from a coalition of aggregated EVs is bid onto the frequency-controlled reserve market. It is the design of Nuvve's V2G platform that enables it to aggregate EVs into a VPP to provide services to the grid bidirectionally. This design incorporates (1) aggregation capabilities for available vehicles, charging stations and stationary batteries; (2) the ability to receive signals from and thereby know the needs of the grid at generation, transmission, distribution and behind-the-meter regions; and (3) real-time optimization that matches available coalition capacity onto grid needs on a second-by-second basis, all while ensuring the desired EV battery charge level at drive time.
Electric vehicles are inherently unreliable grid resources because their primary transportation function can cause them to be plugged in or unplugged at any time with varying states of charge. Nuvve's platform transforms these unreliable resources into reliable, dispatchable and monetizable assets; this helps stabilize the grid, enables increased renewables penetration, reduces the total cost of EV ownership and encourages EV adoption. From the user perspective, the V2G operation is seamless as Nuvve's V2G platform reduces the cost of ownership and ensures EVs are sufficiently charged to meet their primary transportation functions. Vehicle operators can use Nuvve's fleet management app and set driving needs for any given day to fulfill their driving duties.
Company Address: 2488 Historic Decatur Road, Suite 230 San Diego, 92106 CA
Company Phone Number: 456-5161 Stock Exchange / Ticker: NASDAQ NVVE
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