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Fresno EOC Taps Nuvve (NASDAQ: NVVE) To Transition To An EV Fleet Without Taxing The Powergrid In $16 Million Deal
SAN DIEGO, CA / ACCESSWIRE / January 30, 2024 / From cars to buses, the electrification of vehicles is taking off. But powering all that green energy is
About this update from Nuvve Holding Corp.
[{"type":"text","content":"SAN DIEGO, CA / ACCESSWIRE / January 30, 2024 / From cars to buses, the electrification of vehicles is taking off. But powering all that green energy is expected to tax the power grid, an aging system long in need of an overhaul. That is making the transition to an EV future more difficult. After all, what is the point of having a fleet of EV cars or buses if it causes outages or over-taxes the grid? Meeting the future demand requires major changes from adding more high-voltage transmission lines to transformers for last-mile delivery, which can be expensive. Take California for one example. One study pegs the cost of updating the state's power grid at $50 billion by 2035. Until that happens, Nuvve Holding Corp. (NASDAQ:NVVE), the cleantech company from San Diego, has a solution. The clean energy company has found a way to electrify fleets of cars and buses without overloading the power grid thanks to its vehicle-to-grid (V2G) technology. The cutting-edge and potentially game-changing technology turns EVs into moving storage systems, reducing the cost of ownership and bringing stability to the power grid, turning parking lots into v2g hubs.Nuvve's New DealThat technology was on display this week when Nuvve won a contract from the Board of the Fresno Economic Opportunities Commission (Fresno EOC) to implement the company's turnkey fleet electrification program for Fresno EOC's 50-shuttle fleet.Fresno EOC, one of the country's biggest nonprofits, oversees more than 35 human services programs to help underserved populations in California's Fresno County become more self-sufficient. It uses its bus fleet to transport community members to and from work, school and medical appointments, deliver meals and fill other transportation needs to support its mission. The non-profit also operates a large kitchen, which requires a lot of energy. Transitioning to an EV fleet will not only save the non-profit money but help improve the air quality in the community.\"Fresno as a community has historically endured poor air quality due to tailpipe emissions from the Los Angeles basin and gas-fired peaker power plants,\" said Nuvve co-founder and CEO Gregory Poilasne. \"With the adoption of our cutting-edge electric vehicle-to-grid software and infrastructure, that allows us to turn parking lots into power plants, this project can serve as a model ap...