Nuvve Holding Corp. Secures New Contract with Sourcewell to Propel Fleet Electrification

Nuvve Holding Corp. (NASDAQ: NVVE), a prominent player in the electrification of transportation through its innovative vehicle-to-grid (V2G) platform, announced today the re-award of a significant contract with Sourcewell. This cooperative purchasing organization facilitates access to essential services for over 75,000 public agencies across North America, aiming to enhance the efficiency of public service delivery. The renewed partnership underscores the growing collaboration between Nuvve and Sourcewell as they continue to work towards fleet electrification for public sector clients.

Gregory Poilasne, CEO and Co-Founder of Nuvve, commented on the contract's significance, stating, “This second award proves the ongoing value Nuvve delivers to the government market and is a testament to the shared vision and trust between our organizations.” The contract not only streamlines the procurement process for government entities but also facilitates a more efficient transition to electrified fleets. Poilasne expressed optimism about the benefits this partnership will bring to communities and their transportation infrastructures.

Nuvve’s collaboration with Sourcewell simplifies the transition process for various public entities, including school districts and municipalities, looking to adopt electric vehicle (EV) fleets. Traditionally, these agencies faced extensive and often cumbersome bidding processes before they could initiate electrification efforts. The contract with Sourcewell alleviates these burdens, allowing immediate access to Nuvve's comprehensive charging solutions.

These solutions encompass Level 2 AC chargers, unidirectional and bidirectional (V2G) DC fast chargers, and the company’s energy management software, Nuvve FLEETBOX™. With these tools, public agencies can effectively manage their energy resources while contributing to a cleaner environment.

The re-award of this contract marks a pivotal milestone in Nuvve's mission to enhance the adoption of clean transportation solutions across the United States. By equipping public sector clients with advanced electrification tools, Nuvve aims to support the broader transition towards sustainable energy and transportation systems.

This initiative aligns with the growing global emphasis on reducing carbon emissions and fostering greener cities, highlighting Nuvve’s commitment to driving meaningful change in the transportation sector.

Nuvve Holding Corp. stands at the forefront of the electrification movement, leveraging its proprietary V2G technology to transform electric vehicles into mobile energy resources. By allowing EVs to store and discharge energy back to the grid, Nuvve plays a crucial role in stabilizing the energy supply while reducing the cost of EV ownership. The company’s overarching goal is to foster a cleaner, more resilient energy infrastructure, facilitating a shift towards sustainable transportation solutions.

Sourcewell serves as a vital resource for public agencies, delivering dynamic solutions that enhance operational efficiency and effectiveness. By providing cooperative contracts and a suite of related services, Sourcewell aids thousands of public agencies in overcoming the challenges they face daily, all while promoting community success.

In conclusion, the renewed partnership between Nuvve and Sourcewell marks a significant advancement in the electrification of public transportation fleets, promising enhanced efficiency and sustainability for communities across North America. As the demand for clean energy solutions continues to rise, Nuvve is poised to lead the charge in this transformative shift.