TAAS Stock – Nuvve (NVVE) Stock Dips After Announcing V2G Electric Vehicle Charging Hubs
What’s Going On With Nuvve?
Nuvve (NVVE) stock dipped on Wednesday after it announcing V2G electric vehicle (EV) charging hubs that deliver transportation as a service (TaaS) for commercial EV fleets and enhances grid resiliency. Shares of the company were trading lower -5.88% to $10.08 a share on Wednesday.
The service offering centralizes renewable energy generation, bidirectional EV charging stations, and a suite of EV services while providing financing options to purchase EVs. Better yet, the V2G hubs resolve limitations with utilities related to multiple interconnections to the electric grid by small energy storage systems, such as V2G EVs.
What Does This Mean For Nuvve?
In its efforts to align itself with the clean energy goals being sought out by the Biden Administration for infrastructure, the initial application will serve electric school buses based on existing commercial deployments and agreements between Nuvve and its V2G ecosystem partners.
This improved model is designed to continue reducing electric fleet costs, improve grid resiliency, better integrate renewable energy sources, and expedite America’s transition to a less carbon reliant transportation sector.
NUVVE Corporation develops vehicle-to-grid (V2G) software technology. The company’s Grid Integrated Vehicle platform, GIVe, transforms electric vehicles into grid assets when charging and uses electric vehicles to store and resell energy to the electric grid. The company’s technology is a cloud-connected application that ensures each vehicle has sufficient charge for its next trip before calculating how much remaining capacity is available to sell to the grid. It serves public organizations, businesses, and homes by reducing the cost of electric infrastructure and reducing CO2 emissions through its programs of workplace vehicle charging and campus fleet vehicle charging, commercial delivery fleet charging, and multi-unit dwelling car sharing and charging.
NVVE has an Overall Score of 37. Find out what this means to you and get the rest of the rankings on NVVE!
Nuvve Holding Corp is accelerating the electrification of transportation through its proprietary vehicle-to-grid (V2G) technology. It helps to support the integration of renewable energy sources, including solar and wind. Its Grid Integrated Vehicle (GIV) platform is refueling the next generation of electric vehicle fleets through bidirectional charging solutions.