SAN
DIEGO, Aug. 9, 2022 /PRNewswire/ -- Nuvve
(Nasdaq: NVVE), a leader in electrifying transportation, and Vistra
(NYSE: VST), one of the largest competitive power generators and
retail electricity providers in the country, have announced the
first step in their partnership to help school districts modernize
bus fleets.
Vistra and Nuvve have helped school
districts served by Vistra to apply for more than $4.5M in grant funding.
The partnership between Nuvve and Vistra will help school
districts access available grant funding, from both federal and
state agencies. These grants will make the transition
cost-effective while also helping districts save on long-term
transportation costs. Thus far, Vistra and Nuvve have helped school
districts served by Vistra to apply for more than $4.5M in grant funding to replace older, diesel
school buses.
"We know transportation is the top source of greenhouse gas
emissions in the U.S., which is why electrifying school bus fleets
makes a noticeable, positive impact," said Gregory Poilasne,
chairman and CEO of Nuvve. "The transition to zero-emissions
electric school buses (ESBs) does more than clean the air. With
large batteries on-board and predictable operation times, ESBs are
a perfect use-case for vehicle-to-grid (V2G) technology, especially
in those markets where energy costs have shown significant
volatility."
Nuvve's V2G technology allows districts to manage charging of
their buses to ensure they are ready for their designated route.
This advanced charging solution also allows districts to put energy
back on the grid, providing an additional revenue source. Nuvve
also offers smart fleet-management tools, helping transportation
teams monitor battery levels by intelligently scheduling bus
operation times and ensuring the bus has enough energy to complete
its daily routes.
Electric buses also include fewer parts, leading to lower
maintenance costs. The benefits extend to drivers as well, with
quiet rides and more responsive performance.
"In order for this country to achieve its climate goals, it is
going to take creative ideas and partnerships, and a collective
effort across sectors," said Scott
Hudson, president of Vistra's retail division. "Our
customers know we offer more than just reliable power. We're all
about innovative solutions. We are proud to join Nuvve to help
school districts provide safer, cleaner transportation."
Media
Nuvve:
(W)right On Communications
David Cumpston
dcumpston@wrightoncomm.com
415-902-4461
Vistra:
Meranda Cohn
Media.Relations@vistracorp.com
214-875-8004
Nuvve Investor Contact
ICR Inc.
Eduardo Royes
nuvve@icrinc.com
646-200-8872
About Nuvve
Nuvve Holding Corp. (Nasdaq: NVVE) is leading the electrification
of the planet, beginning with transportation, through its
intelligent energy platform. Combining the world's most advanced
vehicle-to-grid (V2G) technology and an ecosystem of
electrification partners, Nuvve dynamically manages power among
electric vehicle (EV) batteries and the grid to deliver new value
to EV owners, accelerate the adoption of EVs, and support the
world's transition to clean energy. By transforming EVs into mobile
energy storage assets and networking battery capacity to support
shifting energy needs, Nuvve is making the grid more resilient,
enhancing sustainable transportation, and supporting energy equity
in an electrified world. Since its founding in 2010, Nuvve has
successfully deployed V2G on five continents and offers turnkey
electrification solutions for fleets of all types. Nuvve is
headquartered in San Diego, Calif.
and can be found online at 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.
About Vistra
Vistra (NYSE: VST) is a leading Fortune 500 integrated retail
electricity and power generation company based in Irving, Texas, providing essential resources
for customers, commerce, and communities. Vistra combines an
innovative, customer-centric approach to retail with safe,
reliable, diverse, and efficient power generation. The company
brings its products and services to market in 20 states and the
District of Columbia, including
six of the seven competitive wholesale markets in the U.S. Serving
approximately 4 million residential, commercial, and industrial
retail customers with electricity and natural gas, Vistra is one of
the largest competitive electricity providers in the country and
offers over 50 renewable energy plans. The company is also the
largest competitive power generator in the U.S. with a capacity of
approximately 39,000 megawatts powered by a diverse portfolio,
including natural gas, nuclear, solar, and battery energy storage
facilities. In addition, Vistra is a large purchaser of wind power.
The company owns and operates the 400-MW/1,600-MWh battery energy
storage system in Moss Landing,
California, the largest of its kind in the world. Vistra is
guided by four core principles: we do business the right way, we
work as a team, we compete to win, and we care about our
stakeholders, including our customers, our communities where we
work and live, our employees, and our investors. Learn more about
our environmental, social, and governance efforts and read the
company's sustainability report at
https://www.vistracorp.com/sustainability/.
Nuvve 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 (iv) Nuvve's current dependence on sales of
charging stations for most of its revenues; (v) 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; (vi) 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; (vii) the effects of competition on Nuvve's
future business; (viii) risks related to Nuvve's dependence on its
intellectual property and the risk that Nuvve's technology could
have undetected defects or errors; (ix) 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;
(x) 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; (xi)
changes in applicable laws or regulations; (xii) the COVID-19
pandemic and its effect directly on Nuvve and the economy
generally; (xiii) risks related to disruption of management time
from ongoing business operations due to our joint ventures; (xiv)
risks relating to privacy and data protection laws, privacy or data
breaches, or the loss of data; (xv) 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 (xvi) 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 Corporation