- EUROPE GRANTS NUVVE
"VEHICLE-TO-VEHICLE" PATENT
- NUVVE'S PATENTS DISCLOSE MULTIPLE V2G INNOVATIONS FROM VARYING
SYSTEM-LEVEL PERSPECTIVES
SAN
DIEGO, Oct. 13, 2023 /PRNewswire/ -- Nuvve
Holding Corp. (Nasdaq: NVVE) ("Nuvve"), a global technology
leader accelerating the electrification of transportation through
its proprietary vehicle-to-grid (V2G) platform, today commented on
its newly granted European patent.
Nuvve, which has seen strong growth and forged significant
partnerships, is the only pure-play public company today with a
proven track record in deploying commercially available and
scalable V2G technology worldwide. With increasing demand for its
technology, Nuvve is uniquely positioned to lead this sector.
The company's V2G patents, which include some of the first in
the industry, disclose comprehensive vehicle-to-grid solutions that
include combinations of some or all of the following
attributes:
i. The control of power flow to electric
vehicles (EVs) responsive to, among other things, anticipated usage
of vehicle and/or grid data.
ii. The management of EV charging by Electric Vehicle Equipment
(EVE) responsive to, among other things, charger attributes and/or
aggregation server requests.
iii. The calculation of available power capacity of aggregated EVs
responsive to, among other things, EVE, charger operational
parameters, and/or dispatching to the grid.
iv. The control of power flow to the grid from an EV,
responsive to, among other things, charger attributes sent to EVE
and/or instructions received from EVE.
Gregory Poilasne, Nuvve's CEO, commented, "Nuvve is proud of the
development of its patents, including the disclosure of V2G
innovations from multiple system-level perspectives, including the
electric vehicle, electric vehicle equipment, charging stations,
and an entirely new and innovative aggregation server. In addition,
since our founding, our patent portfolio has undergone extensive
due diligence by sophisticated and heavily-resourced infrastructure
investors and automotive OEMs."
Since its inception in 2010, Nuvve has invested significant
resources in growing its V2G patent portfolio – and continues to do
so today. During the span from 2011 to 2017, the company expanded
its patent holdings to include four early-industry V2G patents in
the U.S. Today, Nuvve has numerous later-filed U.S. patent
applications pending. Outside the U.S., Nuvve holds an additional
nine V2G patents– one of which was just granted by the EPO for
"Vehicle-to-Vehicle" applications – and is eagerly awaiting
the approval of numerous foreign patent applications. According to
CEO Poilasne, "the disclosure of European Patent (EP4033632B1)
includes groundbreaking innovations essential in a world where
electrified transportation will be the norm. For example, stranded
electric vehicles must provide solutions for vehicle-to-vehicle
energy transfer without the requirement of a connection to the
electric grid."
Nuvve's V2G patent portfolio extends globally, with coverage
across a wide array of European countries, including, but not
limited to, Belgium, France, Germany, Ireland, the United
Kingdom, Denmark,
Finland, Norway, Sweden, Italy, Portugal, Spain, and various countries in Eastern Europe. As such, Nuvve's V2G patent
portfolio serves as a solid foundation that is deeply rooted in the
intelligent integration of EVs into the grid from a wide variety of
system-level perspectives.
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 www.nuvve.com.
This press release contains forward-looking statements as
defined in the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are information of a non-historical
nature or which relate to future events and are subject to risks
and uncertainties. In many cases, you can identify forward-looking
statements by terminology such as "may," "will," "should,"
"expects," "plans," "anticipates," "believes," "estimates,"
"predicts," "potential," or "continue," or the negative of these
terms and other comparable terminology. These statements are only
predictions. Actual results could differ materially from those
anticipated in these forward-looking statements as a result of a
number of factors. The forward-looking statements made in this
press release relate only to events as of the date of this release.
We undertake no ongoing obligation to update these statements.
Nuvve Press Contact
(W)right On Communications,
Larry Smalheiser
lsmalheiser@wrightoncomm.com, +1 925-413-3137
Nuvve Investor Contact
ICR
Inc.
nuvve@icrinc.com, +1 646-200-8872
Forward-Looking Statements
The information in
this press release includes "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
All statements, other than statements of present or historical fact
included in this press release, regarding Nuvve
and Nuvve's strategy, future operations,
estimated and projected financial performance, prospects, plans and
objectives are forward looking statements. When used in this press
release, the words "could," "should," "will," "may," "believe,"
"anticipate," "intend," "estimate," "expect," "project," the
negative of such terms and other similar expressions are intended
to identify forward-looking statements, although not all
forward-looking statements contain such identifying words. These
forward-looking statements are based on management's current
expectations and assumptions about future events and are based on
currently available information as to the outcome and timing of
future events. Except as otherwise required by applicable
law, Nuvve disclaims any duty to update any
forward-looking statements, all of which are expressly qualified by
the statements in this section, to reflect events or circumstances
after the date of this press release. 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. In
addition, Nuvve cautions you that the forward-looking
statements contained in this press release are subject to the
following factors: (i) risks related to the rollout
of Nuvve's business and the timing of expected
business milestones; (ii) Nuvve's dependence on
widespread acceptance and adoption of electric vehicles and
increased installation of charging stations; (iii) Nuvve's
ability to maintain effective internal controls over
financial reporting, including the remediation of identified
material weaknesses in internal control over financial reporting
relating to segregation of duties with respect to, and access
controls to, its financial record keeping system, and
Nuvve's accounting staffing levels; (iv)
Nuvve's current dependence on sales of charging stations for
most of its revenues; (v) any impact of the analysis
of the accounting and reporting of warrants related to the
extension of filing the Form 10-Q for the first quarter;
(vi) overall demand for electric vehicle charging and
the potential for reduced demand if governmental rebates, tax
credits and other financial incentives are reduced, modified or
eliminated or governmental mandates to increase the use of electric
vehicles or decrease the use of vehicles powered by fossil fuels,
either directly or indirectly through mandated limits on carbon
emissions, are reduced, modified or eliminated; (vii) potential
adverse effects on Nuvve's backlog, revenue and gross
margins if customers increasingly claim clean energy credits and,
as a result, they are no longer available to be claimed by
Nuvve; (viii) the effects of competition on Nuvve's
future business; (ix) risks related to Nuvve's
dependence on its intellectual property and the risk
that Nuvve's technology could have undetected defects
or errors; (x) the risk that we conduct a portion of
our operations through a joint venture exposes us to risks and
uncertainties, many of which are outside of our control;
(xi) that our joint venture with Levo
Mobility LLC may fail to generate the expected financial
results, and the return may be insufficient to justify our
investment of effort and/or funds; (xii) changes in
applicable laws or regulations; (xiii) the COVID-19
pandemic and its effect directly on Nuvve and the
economy generally; (xiv) risks related to disruption
of management time from ongoing business operations due to our
joint ventures; (xv) risks relating to privacy and
data protection laws, privacy or data breaches, or the loss of
data; (xvi) the possibility that Nuvve
may be adversely affected by 3 other economic, business,
and/or competitive factors, including increased inflation and
interest rates, and the Russian invasion of Ukraine; and (xvii) risks related
to the benefits expected from the $1.2
trillion dollar infrastructure bill passed by the U.S. House
of Representatives (H.R. 3684). Should one or more of
the risks or uncertainties described in this press release
materialize or should underlying assumptions prove incorrect,
actual results and plans could differ materially from those
expressed in any forward-looking statements. Additional information
concerning these and other factors that may impact the operations
and projections discussed herein can be found in the Annual Report
on Form 10- K filed by Nuvve with the
Securities and Exchange Commission (SEC) on March 31, 2022, and in the other reports
that Nuvve has, and will file from time to time with
the SEC. Nuvve's SEC filings are available publicly on
the SEC's website at
www.sec.gov.
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SOURCE Nuvve Holding Corp.