SAN
DIEGO and GUANGZHOU, China, April 30,
2024 /PRNewswire/ -- Nuvve Holding Corp.
("Nuvve") (Nasdaq: NVVE), a global technology leader accelerating
the electrification of transportation through its proprietary
energy management and aggregation platform, and Guangzhou
Great Power Energy and Technology Corporation ("Great Power)" (NCY:
300438.SZ), a global leader in lithium-ion battery manufacturing
and research and development, are pleased to announce a strategic
partnership to accelerate stationary storage battery deployments
and their integration with the grid.
Great Power, established in 2001 with a vision to become a
global leader in battery storage technology, recognizes the
potential of combining its stationary batteries with electric
vehicle charging infrastructure to offer significant product
differentiation and market advantage. By leveraging Nuvve's
expertise in energy management, flexibility, monetization, and
aggregation platforms, Great Power aims to expand its global
footprint while enabling savings and new revenue streams for its
customers.
Gregory Poilasne, CEO of Nuvve, states, "We're excited about the
partnership with Great Power, a leading global battery
manufacturer, and their alignment with our energy management
approach to electrification. By integrating stationary
storage solutions at the edge of the grid where it is the weakest,
we're able to strengthen it while enabling a smarter integration of
EVs and renewables."
Yang Xia, Head of Great Power
global ESS of Great Power, states, "I am thrilled to announce our
partnership with Nuvve to deploy advanced battery systems for
electric vehicle (EV) charging solutions. Great Power's
state-of-the-art battery technology, powered by Nuvve's industry
leading software platform will significantly reduce cost and
charging times, helping to eliminate one of the main barriers to EV
adoption and paving the way towards a more sustainable future and
asserting our leadership in global battery technology."
Nuvve's GIVe™ platform, known for its bidirectional energy
management capabilities and energy management solutions, will play
a pivotal role in transforming electric vehicles and stationary
batteries into grid-integrated energy storage resources. This
partnership will enable consumers, fleet operators, utilities,
municipalities, and public organizations to optimize energy usage,
reduce costs, and support the integration of renewable energy
sources such as solar and wind.
Some of the key aspects of this partnership include:
- Nuvve serving as the preferred energy manager and flexibility
aggregator for Great Power solutions.
- Great Power supplying Nuvve-branded pre-validated Battery
Energy Storage Systems (BESS) that are pre-integrated with Nuvve's
GIVe™ platform, enhancing the value proposition for customers
seeking optimized energy solutions.
- Mutual interests in accelerating the electrification of
vehicles, providing energy management and aggregation software
platforms, enhancing smart charging and V2G services, and unlocking
new sources of savings and revenues for customers.
The Nuvve-Great Power integrated solution will enable lower
energy costs, resiliency via microgrid, and system control of
charging and discharging to utility service limitations. "Our
techno-economic modeling demonstrates significant energy savings
from Nuvve's total energy management for customers, particularly in
areas with high energy rates or demand charges. In the
San Diego area, a typical school
district purchasing energy from the local utility could save up to
40% or more on their bill by adding in a single Nuvve 400
kilowatt-hour (kWh) BESS. V2G technology and grid services
like Demand Response increase those savings." said Hamza Lemsaddek,
Nuvve's Vice President of Technology and Astrea AI.
A key milestone of this partnership will be the completion of
the integration of the Great Power battery solutions with Nuvve's
EMS and GIVe platform, in Q3 2024. Nuvve and Great Power will
solidify the commitment of both organizations in a long-term
relationship aimed at driving innovation and sustainability in the
electric vehicle and renewable energy sectors by packaging a joint
offer, including EV infrastructure, stationary storage, and energy
management.
"We are witnessing a remarkable era of growth in the sectors of
energy storage and electric vehicle (EV) charging, pivotal to
advancing the clean energy transitions," said Dr. Evan Bierman, President of Great Power North
America. "By collaborating with local partners, we aim to tailor
our cutting-edge solutions to better meet the unique needs of the
American market and ensure that the infrastructure for EVs is both
robust and resilient. This strategic move not only enhances
the US supply chain but significantly bolsters the local economies
and supports the U.S. in maintaining its competitive edge in green
technology on the global stage."
Initial deployments include Nuvve's RESCHOOL and Fresno projects, as well as deployments at
other select school districts. The two companies are also working
on a combined project pipeline throughout North America, Europe, and Asia.
For more information about Nuvve and Great Power, please visit
www.nuvve.com. Details about Great Power's battery
manufacturing can be found on its official website
www.greatpower.net.
About Great Power
Established in 2001 and listed
on the stock market in 2015 (stock code: 300438), Great Power
is a pioneer in manufacturing stationary energy storage system
(ESS) batteries. With a focus on innovation and
a long-term commitment to providing products and solutions, the
company has over 20 years of experience specializing in lithium-ion
battery manufacturing, research, and development.
About Nuvve
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.
Nuvve Sales Contact
sales@nuvve.com
Nuvve Investor
Contact
investorrelations@nuvve.com
+1 (619) 483-3448
Nuvve Press Contacts
press@nuvve.com
+1 (619) 483-3448
Nuvve Forward Looking Statements
This press release contains forward-looking statements or
forward-looking information within the meaning of the
U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements may be identified by the use of
forward-looking terms such as "may," "will," "expects," "believes,"
"aims," "anticipates," "plans," "looking forward to," "estimates,"
"projects," "assumes," "guides," "targets," "forecasts,"
"continue," "seeks" or the negatives of such terms or other
variations on such terms or comparable terminology, although not
all forward-looking statements contain such identifying words.
Forward-looking statements include, but are not limited to,
statements concerning the Company's expectations, plans,
intentions, strategies, prospects, business plans, product and
service offerings, new product launches, potential clinical
successes, and other statements that are not historical
facts. 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. Such statements are based upon the
current beliefs and expectations of management and are subject to
significant risks and uncertainties that could cause actual
outcomes and results to differ materially. Some of these
risks and uncertainties can be found in Nuvve's most
recent Annual Report on Form 10-K and subsequent periodic reports
filed with the Securities and Exchange Commission (SEC). Copies of
these filings are available online at
www.sec.gov,
https://investors.nuvve.com/ or on request from
Nuvve. These factors should not be construed as exhaustive
and should be read in conjunction with the other cautionary
statements that are included in the Nuvve's filings
with the SEC. Such forward-looking statements speak only as of the
date made, and Nuvve disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
Readers of this press release are cautioned not to place undue
reliance on these forward-looking statements, since there can be no
assurance that these forward-looking statements will prove to be
accurate. This cautionary statement is applicable to all
forward-looking statements contained in this press
release.
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SOURCE Nuvve Holding Corp.