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Nuvve Expands Vehicle-to-Grid Footprint to Help Electrify School Buses
New V2G projects with school districts and utilities in California and Colorado will lower the cost of electric school bus ownership SAN DIEGO, July 7, 2021
About this update from Nuvve Holding Corp.
[{"type":"text","content":"New V2G projects with school districts and utilities in California and Colorado will lower the cost of electric school bus ownership\n\n\nSAN DIEGO, July 7, 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, announced today that it has been selected as the energy technology provider that will enable school districts and utilities in San Diego, Calif. and Durango, Colo. to accelerate the electrification of their school buses, further expanding Nuvve's growing V2G network. Reinforcing its leadership in this market, Nuvve's proprietary V2G technology will create value for the customers of these deployments by lowering the total cost of ownership of electric school buses (ESBs) to be equal to or less than that of diesel school buses.\n\n \n \n \n \n \n \n\n \nElectrifying school buses is a top priority for the Biden administration. The $1.2 trillion infrastructure plan supported by the administration includes $7.5 billion to replace thousands of diesel-powered school and transit buses with zero-emission electric vehicles. However, with approximately 480,000 school buses across the nation, the $7.5 billion split across both sectors represents only a fraction of the funding needed to electrify all school buses across the country. Nuvve's V2G technology and the company's recently announced plans to form a joint venture (\"Levo\") to provide fully financed options for customers will help bridge the gap between the need to electrify the nation's transportation fleet and the funding available to do so. \n\"We're helping pave the way for more schools to rapidly electrify their fleets and for more regions to leverage EVs as distributed energy resources,\" said Gregory Poilasne, chairman and CEO of Nuvve. \"These school districts aren't just electrifying their fleets; they're demonstrating that their immediate needs and budget constraints can be addressed through our V2G technology and intelligent bidirectional energy management to create cleaner and healthier rides for students.\"\nBy using Nuvve's V2G platform, schools and other fleet customers can realize cost benefits by allowing Nuvve to use the excess energy in their EVs to perform services that help stabilize the grid. In applicable ma...