Beacon Mobility subsidiary NRT Bus will use 25
Nuvve DC Rapid HD Charging Stations for new electric school buses
in Lawrence, Mass.
SAN
DIEGO, July 13, 2023 /PRNewswire/ -- Nuvve
Holding Corp. (Nasdaq: NVVE), a global leader in vehicle-to-grid
technology and deployments, will supply NRT Bus, a member of the
Beacon Mobility family of companies, with 25 bi-directional Nuvve
DC Rapid HD Charging Stations for Lawrence Public Schools in Lawrence, Mass.
![Nuvve Corporation logo (PRNewsfoto/Nuvve Corporation) Nuvve Corporation logo (PRNewsfoto/Nuvve Corporation)](https://mma.prnewswire.com/media/620095/nuvve__Logo.jpg)
Designed specifically for vehicle-to-grid (V2G) operations, the
Nuvve chargers will power a fleet of 25 new electric school buses
manufactured by Thomas Built Buses and secured under the largest
Environmental Protection Agency (EPA) Clean School Bus Grant
awarded in Massachusetts last
year. New England Transit Sales and strategic partner Beacon
Mobility helped NRT Bus secure funding during the first round of
EPA grants. The Nuvve K-12 division will support the deployment
from site planning at the district's transportation yard through
utility interconnection and commissioning. The charger order was
disclosed earlier in the second quarter of 2023, with the units
expected to be delivered by December while the buses arrive later
in 2024.
"Leaders like Beacon Mobility and other electric school bus
operators across the Northeast are embracing V2G to reduce the cost
of operation, and we're honored to help make their switch to
cleaner, quieter and healthier mobility as seamless and financially
attractive as possible," said Gregory Poilasne, CEO, Nuvve.
"Nuvve and New England Transit Sales have demonstrated that
they're as committed as we are to Lawrence Public Schools and student health.
We're excited to bring this clean transportation breakthrough which
benefits our drivers, students and the wider Lawrence community," said Beacon Senior Vice
President of Fleet & Facilities Bill
Griffiths.
The Nuvve DC Rapid HD Charging Stations come preconfigured to
work with Nuvve's GIVe™ platform for intelligently charging and
discharging to the grid. The solution enables buses to charge when
rates are low and discharge when rates are high and the grid is
strained. The V2G services are supported under National Grid's
ConnectedSolutions battery program. DC fast-charging comes standard
with the Thomas Built Jouley model with each bus capable of a
138-mile operating range on a single charge.
The Lawrence Public Schools
serve 13,000 students from K-12 and NRT Bus transports them via its
current fleet of 21 full-size diesel buses and 55 minibuses. The
community is vulnerable to poor air quality due to its high
population density and location near three interstate highways. The
fleet of 25 electric school buses could reduce carbon emissions by
an estimated 1.35 million pounds per year which is equal to more
than 10,000 trees growing for 10 years or taking 136 gas-powered
passenger cars off the road for a year.
About Nuvve Holding Corp.
Nuvve Holding Corp.
(Nasdaq: NVVE) is a global leader in
vehicle-to-grid (V2G) technology serving the mission-critical needs
of commercial fleets. The company's intelligent, cloud-based
software, Nuvve GIVe™, is a platform that transforms
electric fleets into mobile storage resources allowing them to
contribute, and not just consume, electricity. It enables a
flexible suite of V2G, charge management and grid services that
provide electric grid resilience while also generating recurring
revenues to offset fleet operation costs. Committed to accelerating
the planet's transition to a net-zero future, Nuvve is
securing fleet electrification partners across the
e-mobility and grid value chain and supports active
deployments around the world with 18.3 megawatts currently under
management. Nuvve is headquartered in San Diego, Calif., USA. To learn more about
the value of V2G, futureproofing EV infrastructure and
using EVs for grid resilience, visit
nuvve.com.
Nuvve Press Contact
(W)right On Communications,
David Cumpston
dcumpston@wrightoncomm.com, +1 415-902-4461
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.