SAN DIEGO, June 24, 2021 /PRNewswire/ -- Nuvve Holding
Corp. ("Nuvve") (Nasdaq: NVVE), a global technology leader
accelerating the electrification of transportation through its
proprietary vehicle-to-grid ("V2G") platform, announced today that
the company was selected to join the Russell
Microcap® Index effective after the U.S. market
opens on June 28, 2021, when Russell
Investments reconstitutes its comprehensive set of U.S. and global
equity indexes. Russell indexes are part of FTSE Russell, a leading
global index provider.
"Joining the Russell Microcap® Index is an important milestone
for Nuvve as we receive recognition from one of the most prominent
index providers followed by investment managers across the
country," said Gregory Poilasne, chairman and CEO of Nuvve. "We
believe our addition to this index will expand the participation of
institutional investors and benefit our shareholders with improved
liquidity and visibility within the investment community. We
believe 2021 will be an important year for Nuvve, as we seek to
reach our strategic objectives and create additional value for our
shareholders."
Nuvve is helping develop, deploy, and manage electric fleets
worldwide enabled with its V2G technology. Nuvve's V2G provides
fleet owners with the lowest total cost of ownership, while
simultaneously creating energy storage solutions for the grid using
electric vehicle (EV) batteries. Complete offers that include EV
leasing with V2G charging enable Nuvve customers to electrify and
operate EV fleets in a cost-effective and efficient way that
benefits the grid. Nuvve has operated commercial V2G charging
solutions in Europe for over four
years and is launching V2G solutions with fleets, including school
buses, across the U.S.
About Russell Microcap Index
The
Russell Microcap Index measures the performance of the microcap
segment of the U.S. equity market and is constructed to provide a
comprehensive and unbiased barometer for the microcap segment
trading on national exchanges. The Index is completely
reconstituted annually to ensure that new and growing equities like
Nuvve are reflected, and companies continue to reflect appropriate
capitalization and value characteristics.
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for
active investment strategies. Approximately $10.6 trillion in assets are benchmarked against
Russell's U.S. indexes.
For more information on the Russell Microcap® Index and the
Russell U.S. Indexes reconstitution, go to the "Russell
Reconstitution" section on the FTSE Russell website.
About FTSE Russell
FTSE Russell is a global
index leader that provides innovative benchmarking, analytics and
data solutions for investors worldwide. FTSE Russell calculates
thousands of indexes that measure and benchmark markets and asset
classes in more than 70 countries, covering 98% of the investable
market globally.
FTSE Russell index expertise and products are used extensively
by institutional and retail investors globally. Approximately
$17.9 trillion is currently
benchmarked to FTSE Russell indexes. For over 30 years, leading
asset owners, asset managers, exchange traded
fund (ETF) providers and investment banks have chosen
FTSE Russell indexes to benchmark their investment performance and
create ETFs, structured products and index-based derivatives.
A core set of universal principles guides FTSE Russell index
design and management: a transparent rules-based methodology is
informed by independent committees of leading market participants.
FTSE Russell is focused on applying the highest industry standards
in index design and governance and embraces the IOSCO Principles.
FTSE Russell is also focused on index innovation and customer
partnerships as it seeks to enhance the breadth, depth and reach of
its offering. FTSE Russell is wholly owned by London Stock Exchange
Group. For more information, visit www.ftserussell.com.
About Nuvve Holding Corp.
Nuvve (Nasdaq: NVVE) is accelerating the electrification of
transportation through its proprietary vehicle-to-grid ("V2G")
technology. Its mission is to lower the cost of electric vehicle
ownership while supporting the integration of renewable energy
sources, including solar and wind. Nuvve's Grid Integrated Vehicle,
GIVe™, platform is refueling the next generation of electric
vehicle fleets through intelligent, bidirectional charging
solutions. Since its founding in 2010, Nuvve has launched
successful V2G projects on five continents and is deploying
commercial services worldwide by developing partnerships with
utilities, automakers, and electric vehicle fleets. Nuvve is
headquartered in San Diego,
California, and can be found online
at www.nuvve.com.
Nuvve and associated logos are among the trademarks of Nuvve
and/or its affiliates in the United
States, certain other countries and/or the EU. Any other
trademarks or trade names mentioned are the property of their
respective owners.
Nuvve Press Contact
Marc Trahand, EVP Marketing
marc@nuvve.com
858-250-9740
Nuvve Investor Contact
Lytham Partners
Robert Blum or Joe Dorame
nuvve@lythampartners.com
602-889-9700
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, regarding the 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, including the following
factors: (i) Nuvve's dependence on widespread acceptance and
adoption of electric vehicles, V2G, and increased installation of
charging stations; ((ii) Nuvve's current dependence on sales of
charging stations for most of its revenues; (iii) 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; (iv) potential adverse effects on Nuvve's 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; (v) the effects of competition on Nuvve's future
business; (vi) risks related to Nuvve's dependence on its
intellectual property and the risk that Nuvve's technology could
have undetected defects or errors; (vii) changes in applicable laws
or regulations; (viii) the COVID-19 pandemic and its effect
directly on Nuvve and the economy generally; (ix) risks relating
to privacy and data protection laws, privacy or data breaches,
or the loss of data; and (x) the possibility that Nuvve may be
adversely affected by other economic, business, and/or competitive
factors. 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
quarterly report on Form 10-Q filed by Nuvve with the U.S.
Securities and Exchange Commission ("SEC") on May 21, 2021, and in the other reports that Nuvve
has filed 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.