Aging electric grids face unprecedented demand around the world as electric vehicles continue to hit the roads at record numbers. This strain may only grow with vehicle electrification.
What if electric vehicles (EVs) could ease the burden by returning power to the grid?
The concept is called vehicle-to-grid, or V2G — and it envisions fleets of EVs providing battery power to reinforce electric grids, particularly during peak demand.
WHAT IS VEHICLE-TO-GRID (V2G)?
V2G is a technology that enables energy to be pushed back to the power grid from the battery of an electric vehicle (EV). It helps solve the grid issues EV growth creates.
NVVE achieved a record number of 38 AC and DC bidirectional charging station connections in October 2023 — all linked to its V2G GIVe™ software platform to provide charging services to an additional 38 electric school buses (or 1.42 MW of capacity).
The Our GIVeTM platform enables a parked EV to charge its battery and discharge stored energy back to the grid in response to real-time requests from a remote entity such as a systems operator.
“We came into 2023 with optimism that this year would mark an inflection point for our company, and so far, results across a variety of metrics have supported our optimism. Beyond our results, we have seen a significant increase in interest in our technology and our IP as well as our integrated solution.”
NVVE CEO Gregory Poilasne
Nuvve (Nasdaq: NVVE) is a global technology leader accelerating the electrification of transportation through its proprietary vehicle-to-grid (V2G) platform.
The company’s mission is to lower the cost of electric vehicle ownership while supporting the integration of renewable energy sources, including solar and wind.
NVVE is introducing a new model for electrification through its intelligent energy platform by increasing the utilization of electric vehicles (EVs) and turning them into valuable earning assets, thereby reducing their total cost of ownership (TCO).
This helps the grid become more resilient while accelerating the world’s transition to clean energy.
Improve EV performance and reliability with the ONLY electric fleet service featuring high-powered, vehicle-to-grid (V2G) charging with 24/7 maintenance and intelligent energy management on a global, commercially available platform.
V2G Hubs… Turning EVs into Power Plants
NVVE’s platform aggregates energy and power capacity from multiple EV batteries to form a virtual power plant (VPP).
The VPP can provide services to the grid that add capacity, help stabilize it, and prevents blackouts.
Fleet-as-a-Service: All-in-one electrification solution for a flat monthly fee.
100% electrification of school buses could increase U.S. electric power generation capacity by nearly 3%. (Source: EIA; US power generation capacity as of the end of 2020.) Assuming all electric buses are powered by Nuvve’s proprietary V2G!
NVVE and Blue Bird Corporation (Nasdaq: BLBD), the leader in electric and low-emission school buses, recently replaced the Martinsville Independent School District (ISD)'s diesel fleet with five Blue Bird Vision electric buses, five Nuvve Level II chargers and the innovative AI-powered Nuvve FleetBox 2.0 charge management software.
NVVE has introduced a new business unit dedicated to helping school transportation departments across North America electrify their fleets.
Drawing on its years of experience developing bidirectional charging solutions, the company’s specialists bring their technical and operational expertise to help transportation directors with the electrification process.
To date, NVVE has worked with over 68 school districts and has facilitated the installation of over 331 charging stations, and seeks to help more schools electrify their fleets.
When partnering with Nuvve K-12, school districts are never alone in their electrification journey. The company provides comprehensive solutions to seamlessly electrify school bus fleets, while keeping in mind our shared goal: to transport children safely and on time.
An EPA announcement said that the Biden-Harris Administration will double clean school bus rebate awards from $500M to nearly $1B!
By 2030, just seven years from now, S&P Global forecasts that one out of every four new cars sold will be electric. By 2035, the European Union and Japan are planning to ban sales of most traditional internal combustion engines, as are several American states. The world’s goal is ambitious to go electric.
While the commotion in the EV world centers around companies like Tesla, what NVVE is doing is game-changing and it is the future of helping the world go electric!
Renewable energy sources need storage. EVs have a built-in energy storage system. V2G technology bridges the gap between these two sectors and also helps regulate energy on the grid.
By combining the world’s most advanced vehicle-to-grid (V2G) technology and the company’s ecosystem of partners, NNVE dynamically manages power among EV batteries and the grid. This is a game-changing innovation and the company is ahead of the crowd.
The recent $1.2T Bipartisan Infrastructure Bill in the U.S. has also presented NVVE with many opportunities: $7.5B in electric vehicle charges. $2.5B in electric buses. $3B in tech to enhance grid flexibility.
There’s no doubt about it. A flood of money is going into the EV space, and the companies on the receiving end of that flood are worth a good look.
To reiterate… NVVE has a $2.55 price target!
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