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Nuvve and Wallbox Chargers Announce the First of Its Kind V2G Collaboration in Iberia
The vehicle-to-grid (V2G) partnership incorporates Wallbox’s multi-CES winning bidirectional charger, Quasar, and Nuvve’s state-of-the-art GIVe™ energy
About this update from Nuvve Holding Corp.
[{"type":"text","content":"\nThe vehicle-to-grid (V2G) partnership incorporates Wallbox’s multi-CES winning bidirectional charger, Quasar, and Nuvve’s state-of-the-art GIVe™ energy management platform.\n\nThe combined technology is expected to be available to consumers in early 2022 in Spain and Portugal and to follow thereafter in the U.S. and other leading markets.\n\n BARCELONA, Spain & SAN DIEGO--(BUSINESS WIRE)--\nWallbox N.V. (NYSE: WBX) and Nuvve Holding Corp. (Nasdaq: NVVE), announced a first of its kind vehicle-to-grid (V2G) partnership in Iberia designed to reduce mounting pressure on the grid and offer users significant financial incentives.\n\nThe partnership will incorporate Wallbox’s pioneering hardware, Quasar, the world’s first DC bidirectional home charger, into Nuvve’s patented V2G software technology, GIVe™. The partnership comes at an opportune time, when pressure on the grid is rapidly rising in the Iberian peninsula, where household energy prices have risen by 35% over the past year.\n\nNuvve’s GIVe™ platform intelligently tracks and identifies the optimal time for a user to charge their electric vehicle (EV), prioritizing charging during low tariff periods. The integration with Wallbox’s two-way charger is designed to give the added flexibility to store energy and discharge excess energy from an EV’s battery back to the grid and assist in reducing rising grid pressure. Cooperating in V2G can provide users access to significant financial incentives, which can be worth upwards of 500 Euros a year.\n\nIn addition to reducing energy costs, Nuvve’s V2G technology can help users transition to a more sustainable lifestyle by helping minimize their carbon footprint. By optimizing the charge and discharge based off the CO2 intensity, users can help offset CO2 emission by an average of 250kg per car per year. To put this in perspective, regular one-way charging with no time of use optimization can result in approximately 1000kg of CO2 emissions per vehicle per year to be emitted, compared to an actual savings achieved through V2G charging. The delta is significant and allows customers participating in V2G to be net negative in their CO2 emissions.\n\n“Quasar was engineered to transform electric vehicles into powerful energy sources to both reduce mounting pressure on the grid and to give EV drivers more control over how they consume power - o...