SAN
DIEGO and HSINCHU, Taiwan, Jan. 30,
2024 /PRNewswire/ -- Nuvve Holding Corp.
(Nasdaq: NVVE), a global technology leader accelerating the
electrification of transportation through its proprietary
vehicle-to-grid (V2G) platform, in collaboration with
e-Formula, a prominent Taiwanese energy solutions provider, is
pleased to announce the potential to launch the first V2G hub
project in Taiwan.
e-Formula, known for its expertise in microgrid management and
battery technologies, would serve as the project lead for this 95
EV V2G Hub project, and Nuvve is expected to be the technical
project manager and service provider. Nuvve currently
anticipates completion of contract negotiation for this project in
March, with underlying business assumptions allowing for Nuvve to
deploy a mix of unidirectional and bidirectional charging stations
ranging from 11kW to 150kW. Nuvve will contract with Taipower
to be compensated for grid services through the combination of
EVSEs provided by Nuvve and stationary storage provided by
e-Formula. By combining Nuvve's world-class V2G technology
with e-Formula's extensive experience in energy solutions, this
project would set a new standard for sustainable urban transit.
Gregory Poilasne, CEO of Nuvve, expressed his enthusiasm: "This
project is not just a milestone for Nuvve and e-Formula but a leap
forward for Taiwan's EV
infrastructure. Our GIVe™ platform stands at the heart of this
endeavor, showcasing the immense potential of V2G technology in
revolutionizing energy management and EV integration. We are eager
to work together in support of the important efforts already
underway in Taiwan to combat air
pollution."
"This project marks our second V2G Hub win since the beginning
of 2024, a testament to our strong forward momentum and our role as
a partner of choice," Poilasne continued. "We look forward to
collaborating with e-Formula on this effort and to the many future
V2G projects we see on the horizon as we continue to win."
Nuvve plans to leverage its acclaimed GIVe™ platform to manage
the V2G and V1G chargers, Solar PV Systems, and Battery Energy
Storage Systems (BESS). Its proprietary platform is key to
providing advanced grid services, including dynamic power
management between EV batteries and the grid.
e-Formula brings invaluable experience from its involvement in
high-profile projects like Chiayi Xinyi, the first service station
operated by 100% renewable energy in Taiwan, Project Tainan Qianfeng, a 100%
renewable energy service station with multi-source energy storage
integration, and project Hualien Guangfu, which featured a service
station with energy storage mobility for emergency rescue.
Taiwan Power Company (TPC) has allocated land in Zhongxiao Road,
Hsinchu, for the development of a state-of-the-art smart parking
structure. This facility is anticipated to feature 325 parking
spaces, some equipped with a mix of V2G and V1G charging stations,
underscoring Taiwan's commitment
to sustainable energy and smart infrastructure development.
The V2G Hub project is expected to offer numerous benefits,
including:
- EV charging facilities for the Hsinchu metro area.
- Advanced infrastructure for electric vehicle and EVSE
certification by Taipower.
- Generation of valuable real-time market data for policymakers
and the Taiwanese government.
- Utilization of green energy from solar and battery storage for
charging services.
- Involvement of RACEV (Taiwan-based electric bus OEM/operator), with
its advanced eBus/eCoach fleet powered by Nuvve's V2G
solution.
- An intuitive mobile app for EV owners to manage parking and
charging spaces.
Upon the successful negotiation of a final contract, this
project is intended to span over 20 years and has the potential to
become a benchmark in the industry. It would combine Nuvve's
world-class V2G technology with e-Formula's extensive experience in
energy solutions, setting a new standard for sustainable urban
transit.
For more information on Nuvve's innovative solutions and the V2G
Hub project, please visit nuvve.com. Details about e-Formula's
diverse energy services can be found on its official website.
About e-Formula
Established in 1996, e-Formula specializes in intelligence,
energy, and communications. The company offers comprehensive
solutions in energy creation, conservation, and storage, and has
pioneered energy-saving performance insurance in Taiwan.
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 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 Holding Corp.