Nuvve Announces V2G Electric Vehicle Charging Hubs and Transportation as a Service Offering
Enhanced model will further reduce electric fleet costs, improve grid resiliency, better integrate renewable energy sources, and speed-up America’s transition to a decarbonized transportation sector.
SAN DIEGO : 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 it has aligned industry stakeholders behind a vision for V2G electric vehicle (EV) charging hubs (“V2G hubs”) that delivers transportation as a service (TaaS) for commercial EV fleets and enhances grid resiliency.
This V2G hub model centralizes renewable energy generation, bidirectional EV charging stations, and a suite of EV services while providing financing options to purchase EVs.
This combination of centralized charging infrastructure and end-to-end fleet support services makes it easier for light-, medium- and heavy-duty fleets to electrify by reducing large upfront capital costs, while Nuvve’s V2G technology reduces the cost of fleet ownership by enabling fleet vehicle batteries to store and sell energy, including from renewable sources, back into the grid.
The V2G hubs and associated TaaS offering will initially focus on fleets such as last-mile delivery, ride hailing and ride sharing, municipal services, and student transportation.
The first application is expected to serve electric school buses based on existing commercial deployments and agreements between Nuvve and its V2G ecosystem partners to help achieve the objectives of President Biden’s infrastructure plan, including its commitment to electrifying America’s diesel school buses.
Nuvve’s TaaS offering will allow organizations to electrify their transportation by paying a monthly fee that covers leasing EVs, charging infrastructure, energy costs, vehicle storage, and vehicle maintenance.
The V2G hubs also resolve limitations with utilities related to multiple interconnections to the electric grid by small energy storage systems, such as V2G EVs.
By creating a set of hubs within a geographic area with large connections to the grid – of the order of two to 50 megawatts – Nuvve will enable access to energy for its customers while delivering services to energy markets in a more efficient manner thanks to their virtual power plant and grid experience.
“Electrifying fleets is critical to achieving our nation’s net-zero energy goals as the sector accounts for 20 percent of all transportation GHG emissions while comprising less than 10 percent of vehicles on the road,” said Gregory Poilasne, chairman and CEO of Nuvve.
“Many fleet owners want to electrify, but high upfront cost and concerns about charging infrastructure are slowing down adoption. Our global V2G hubs and TaaS model is a strategic way of resolving both of those challenges while maximizing the value of these vehicles by better harnessing renewable energy and reducing load on the grid.”
The V2G hubs will feature Nuvve’s proven V2G EV charging technology that precisely manages the charging and discharging of parked EV batteries while also prioritizing vehicle and driver considerations including battery health and charge needs for driving duties. Nuvve’s system can combine the energy from multiple EV batteries to form virtual power plants (VPPs) to sell energy back to the grid and provide services that help with grid stability, predictability and resiliency.
These centers will be capable of serving multi-modal electric vehicle fleets from ride-share services to delivery fleets and school buses while supporting grid stakeholders from utilities to transmission system operators.
“Our vision is to have an initial deployment near our headquarters in Southern California,” Poilasne added.
