Business
NUVVE AND CIRCLE K DEPLOY LARGE-SCALE GRID SERVICES USING EV FAST CHARGERS IN NORWAY AND DENMARK
Nuvve's GIVe™ platform is expected to manage an initial 40 megawatts of electric vehicle (EV) fast charging and stationary storage capacity at 50 Circle K
About this update from Nuvve Holding Corp.
[{"type":"text","content":"Nuvve's GIVe™ platform is expected to manage an initial 40 megawatts of electric vehicle (EV) fast charging and stationary storage capacity at 50 Circle K service stations with roll out beginning early 2023Nuvve's cloud-based software will allow fast chargers to provide a variety of grid services including frequency regulation, generating revenue for Circle K and Nuvve by stabilizing deviations in the Norwegian and Danish electric grid Partnership exemplifies flexibility, diversity and reach of Nuvve's technology applicationSAN DIEGO, Feb. 16, 2023 /PRNewswire/ -- Nuvve Holding Corp. (Nasdaq: NVVE) and Circle K AS are partnering on a first-of-its-kind project that brings grid services, including frequency regulation, to electric vehicle fast chargers at 50 of Circle K's service stations and three to five stationary storage sites in Norway and Denmark. The partnership is expected to generate grid services revenues for both Nuvve and Circle K in 2023.\n\n \n \n \n \n \n \n\n \nThe partnership is expected to generate grid services revenues for both Nuvve and Circle K in 2023.Through its GIVe™ platform, Nuvve's V1G unidirectional smart charging technology is expected to manage an initial 40 megawatts of fast chargers and stationary storage for Circle K, with Nuvve's platform expected to begin in early 2023. Assuming that both parties determine the project to be a success, the partnership is expected to expand across Circle K's Nordic high-speed charging network and potentially additional markets around the world.\nNuvve's ability to provide grid services will allow Circle K to monetize its EV charging assets through market participation, helping system operators Statnett in Norway and Energinet in Denmark keep electricity supply and demand in balance at all times. \nWhile stationary battery electric storage systems (BESS) are widely used in Europe for frequency regulation, Circle K and Nuvve are understood to be the first to use fast chargers for the provision of these services.\nCircle K's Alpitronic Hyperchargers, and three to five storage systems will be remotely connected to the Nuvve GIVe™ platform. The software will allow them to respond to market signals in real-time and make instantaneous micro adjustments to their electricity flow.\n\"Circle K will always optimize and grasp opportunities to make it easier for all to grow su...