Business
Nuvve and Blue Bird Announce Plans to Expand Partnership and Utilize Levo's Fleet-as-a-Service Leasing Model to Make Electric School Buses More Affordable
Expanded partnership utilizes Nuvve's vehicle-to-grid technology in Blue Bird electric buses to make electrification of student transportation more accessible
About this update from Blue Bird Corporation
[{"type":"text","content":"Expanded partnership utilizes Nuvve's vehicle-to-grid technology in Blue Bird electric buses to make electrification of student transportation more accessible and affordable\n\n\nSAN DIEGO and FORT VALLEY, Ga., Aug. 11, 2021 /PRNewswire/ -- Nuvve Holding Corp. (Nuvve) (Nasdaq: NVVE), a global technology leader accelerating the electrification of transportation through its proprietary vehicle-to-grid (V2G) platform, and Blue Bird Corporation (Nasdaq: BLBD), the leading American-made independent designer and manufacturer of school buses, announced today their plan to deploy the extensive financing capabilities from Levo Mobility LLC (Levo), Nuvve's recently formed joint venture with Stonepeak Partners LP, across Blue Bird's distribution network, allowing customers to lease V2G electric school buses, related charging infrastructure, and energy management for an attractive flat monthly fee with no upfront costs. The Nuvve and Blue Bird partnership expansion also makes V2G ubiquitous in the electric school bus market by integrating Nuvve V2G charging infrastructure within the Blue Bird manufacturing and distribution network. \n\n \n \n \n \n \n \n\n \nNuvve and Blue Bird previously announced their collaboration to introduce V2G-compatible electric buses to the U.S. market and more intelligently integrate electric vehicles (EVs) into the grid using Nuvve's V2G platform. All Blue Bird Type C and D electric buses are manufactured with Nuvve's V2G integration which, when combined with a Nuvve V2G charging station, are able to store and discharge energy. The excess stored energy across multiple buses can be combined to form virtual power plants (VPPs) offering valuable grid services that earn revenue. Blue Bird's V2G capability provides a significant advantage over other electric buses to school districts, by providing a way to leverage the buses when parked and connected to help stabilize the grid and prevent blackouts.\nLevo will offer its Fleet-as-a-Service (FaaS) model through Blue Bird's nationwide distribution network, providing fully financed electric school buses along with associated charging infrastructure, service, and energy management to qualified Blue Bird customers and dealers. Levo has a capital commitment of up to $750 million with the potential to electrify up to 3,500 school buses. By providing multiple paths to acquire...