Revenue Performance - Total revenue for Q2 2024 was $0.80 million, a decrease of 62.2% from $2.12 million in Q2 2023, primarily due to a $1.18 million drop in product revenue [188]. - For the six months ended June 30, 2024, total revenue was $1.6 million, down 60.2% from $4.0 million in the same period of 2023, with a $2.1 million decrease in product revenue [189]. - Grants revenue increased by 85% to $0.13 million in Q2 2024 compared to $0.07 million in Q2 2023 [186]. Cost and Margin Analysis - Cost of products and services revenue for Q2 2024 decreased by 69.1% to $0.6 million compared to $2.0 million in Q2 2023, leading to a margin increase to 10.1% from 4.8% [190]. - For the six months ended June 30, 2024, cost of products and services revenue decreased by $2.3 million to $1.1 million, with a margin increase to 18.6% from 10.9% [191]. Loss and Improvement Metrics - Operating loss for Q2 2024 was $5.76 million, a 31% improvement from a loss of $8.32 million in Q2 2023 [186]. - Net loss attributable to Nuvve Holding Corp. for Q2 2024 was $3.94 million, a 51% improvement from a loss of $7.99 million in Q2 2023 [186]. - Net loss decreased by $4.0 million, or 50.5%, to $3.9 million for the three months ended June 30, 2024, compared to $8.0 million for the same period in 2023 [200]. Operational Expenses - Selling, general and administrative expenses decreased by $1.7 million, or 26.4%, to $4.5 million for the three months ended June 30, 2024, compared to $6.1 million for the same period in 2023 [192]. - Research and development expenses decreased by $0.9 million, or 38.3%, to $1.5 million for the three months ended June 30, 2024, compared to $2.4 million for the same period in 2023 [195]. Cash Flow and Financing - Cash used in operations was $8.7 million for the six months ended June 30, 2024, compared to $21.3 million for the year ended December 31, 2023 [204]. - The company completed a public offering on February 2, 2024, raising gross proceeds of approximately $9.6 million [206]. - Net cash provided by financing activities for the six months ended June 30, 2024, was $8.7 million, primarily from $8.5 million in proceeds from a public offering of common stock [222]. Future Outlook and Backlog - The estimated backlog as of June 30, 2024, was $18.2 million, expected to be recognized as revenue from 2024 through 2026 [184]. - The company expects growth in company-owned charging stations, although these projects will constitute a declining percentage of future business as commercial operations expand [180]. Subsidiary and Business Model - Levo Mobility LLC, a consolidated subsidiary, focuses on electrifying transportation and reducing barriers to EV fleet adoption through a Fleet-as-a-Service model [182]. - Levo was formed with conditional capital contribution commitments of $750 million to fund electric fleet acquisitions and infrastructure construction [215]. Debt and Interest Obligations - The Term Loan requires weekly payments of $50,750 for thirty weeks, totaling $522,501 in expected interest payments [214]. - The weighted weekly average interest rate on the term loan is 2.96% [216]. Cash Position and Changes - The net decrease in cash and restricted cash for the six months ended June 30, 2024, was $103,246, compared to a decrease of $4.7 million in the same period of 2023 [220]. - Net cash used in operating activities for the six months ended June 30, 2024, was $8.7 million, a decrease of $0.3 million compared to $9.0 million for the same period in 2023 [220]. - Cash used for investing activities was $0.05 million for the six months ended June 30, 2024, compared to net cash provided of $1.2 million in the same period of 2023 [221]. Regulatory and Compliance - The company has no off-balance sheet arrangements [224]. - There has been no change in internal control over financial reporting that materially affected the company during the quarter ended June 30, 2024 [234]. - The company is classified as an "emerging growth company" under the JOBS Act and intends to rely on the exemptions provided [230]. - The company expects to remain an emerging growth company until at least December 31, 2025, unless certain revenue or securities thresholds are met [231].

Financial Performance - Total revenue for Q2 2024 was $0.80 million, a decrease of 62.2% from $2.12 million in Q2 2023, primarily due to a $1.18 million decrease in products revenue[4] - Net loss decreased by 50.5% to $3.9 million in Q2 2024 from $8.0 million in Q2 2023, driven by an increase in other income and a decrease in operating expenses[8] - Operating loss for Q2 2024 was $(5,763,874), compared to $(8,315,540) in Q2 2023, showing an improvement of 30.8%[20] - Net loss attributable to Nuvve Holding Corp. common stockholders for Q2 2024 was $(4,176,717), a decrease from $(8,224,707) in Q2 2023, representing a 49.1% improvement[20] - The company reported a comprehensive loss attributable to Nuvve Holding Corp. of $(3,946,840) for Q2 2024, compared to $(7,991,264) in Q2 2023[23] Operating Expenses - Operating expenses excluding cost of sales were reduced to $6.0 million in Q2 2024 from $8.5 million in Q2 2023, a decrease of 29.4%[2] - Total operating expenses for Q2 2024 were $6,566,054, down from $10,435,667 in Q2 2023, a reduction of 37.1%[20] - Selling, general and administrative expenses decreased by 26.4% to $4.5 million in Q2 2024 from $6.1 million in Q2 2023[5] - Research and development expenses decreased by 38.3% to $1.5 million in Q2 2024 from $2.4 million in Q2 2023[7] - Research and development expenses for Q2 2024 were $1,473,567, compared to $2,387,215 in Q2 2023, a decrease of 38.2%[20] Cash and Equity - Cash and cash equivalents were $1.4 million as of June 30, 2024[2] - Cash and restricted cash at the end of Q2 2024 was $1,911,414, down from $11,539,004 at the end of Q2 2023[25] - Total stockholders' equity as of June 30, 2024, was $(2,062,490), a decline from $2,580,605 at the end of 2023[19] - Total liabilities and equity as of June 30, 2024, amounted to $18,527,025, down from $20,950,506 at the end of 2023[19] Business Developments - The company completed the installation of AC and DC chargers at Chinle Unified School District, marking it as the first and largest electric school district in the Navajo Nation[2] - The partnership with Great Power aims to combine advanced batteries with V2G solutions for more efficient EVs[2] - Megawatts under management increased by 8.0% to 27.1 megawatts as of June 30, 2024, up from 25.1 megawatts on December 31, 2023[2] Other Income - Other income increased by $1.5 million to $1.8 million in Q2 2024, primarily due to changes in fair value of warrants liability[7]

Core Insights - Nuvve Holding Corp. reported a significant decrease in total revenue for Q2 2024, amounting to $0.80 million, down 62.2% from $2.12 million in Q2 2023, primarily due to lower product and service sales [3] - The company has made strategic partnerships and advancements in its vehicle-to-grid (V2G) technology, including a collaboration with Great Power and the electrification of the Fresno EOC's shuttle fleet [2][3] - Operating expenses were reduced to $6.0 million in Q2 2024 from $8.5 million in Q2 2023, contributing to a net loss decrease of 50.5% to $3.9 million [3] Financial Performance - Total revenue for Q2 2024 was $0.80 million, a decrease of $1.32 million from the previous year, with product revenue dropping by $1.18 million and service revenue by $0.2 million [3] - The cost of products and services revenue decreased by 69.1% to $0.6 million, leading to an increase in products and services margin to 10.1% from 4.8% year-over-year [3] - Selling, general, and administrative expenses fell by 26.4% to $4.5 million, driven by reductions in various expense categories [3] Operational Highlights - Nuvve increased megawatts under management by 8.0% to 27.1 megawatts as of June 30, 2024, compared to 25.1 megawatts at the end of 2023 [1] - The company completed the installation of AC and DC chargers at Chinle Unified School District, marking it as the first and largest electric school district in the Navajo Nation [1][2] - A groundbreaking event for the Fresno EOC's $16 million shuttle fleet project was held, which will include electric shuttles and a solar generation system [2] Strategic Partnerships - Nuvve partnered with Great Power to enhance its V2G technology with advanced battery solutions, aiming to improve efficiency and affordability for electric vehicles [1][2] - The company highlighted its proprietary GIVeTM smart-charging software platform at various industry conferences, emphasizing its impact on total cost of ownership for fleet operators [2]

Investor Conference Call to be Held Tuesday, August 13, 2024 at 5:00 PM Eastern Time (2:00 PM PT)SAN DIEGO, Aug. 6, 2024 /PRNewswire/ -- Nuvve Holding Corp. (Nuvve) (Nasdaq: NVVE), a green energy technology company that provides a globally-available, commercial vehicle-to-grid (V2G) technology platform designed to enable electric vehicle (EV) batteries to store and resell unused energy back to the local electric grid and provides other grid services, will provide second quarter 2024 update on Tuesday, Augus ...

SAN DIEGO, May 23, 2024 /PRNewswire/ -- Nuvve Holding Corp. ("Nuvve") (Nasdaq: NVVE), a green energy technology company that provides a globally-available, commercial vehicle-to-grid (V2G) technology platform designed to enable electric vehicle (EV) batteries to store and resell unused energy back to the local electric grid and provides other grid services, today announced that it has engaged Cappello Global, LLC ("Cappello Global") as its strategic financial advisor to identify potential strategic transact ...

Nuvve Holding Corp. (NASDAQ:NVVE) Q1 2024 Earnings Conference Call May 14, 2024 5:00 PM ET Company Participants Gregory Poilasne – Chief Executive Officer David Robson – Chief Financial Officer Conference Call Participants Greg Pendy – Chardan Operator Good morning, and welcome to the Nuvve Holding Corporation First Quarter 2024 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation there will be an opportunity to ask questions. [Operator I ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission file number: 001-40296 NUVVE HOLDING CORP. (Exact Name of Registrant as Specified in Its Charter) | --- | --- | --- | --- | ...

Exhibit 99.1 Nuvve Provides First Quarter 2024 Financial Update Investor Conference Call to be Held Today at 5:00 PM Eastern Time (2:00 PM PT) SAN DIEGO, May 14, 2024 /PRNewswire/— Nuvve Holding Corp. (Nuvve) (Nasdaq: NVVE), a green energy technology company that provides a globally-available, commercial vehicle-to-grid (V2G) technology platform that enables electric vehicle (EV) batteries to store and resell unused energy back to the local electric grid and provides other grid services, today provided a fi ...

Investor Conference Call to be Held Today at 5:00 PM Eastern Time (2:00 PM PT) SAN DIEGO, May 14, 2024 /PRNewswire/ -- Nuvve Holding Corp. (Nuvve) (Nasdaq: NVVE), a green energy technology company that provides a globally-available, commercial vehicle-to-grid (V2G) technology platform that enables electric vehicle (EV) batteries to store and resell unused energy back to the local electric grid and provides other grid services, today provided a first quarter 2024 update.   First Quarter Highlights and Recen ...

Investor Conference Call to be Held Tuesday, May 14, 2024 at 5:00 PM Eastern Time (2:00 PM PT) SAN DIEGO, May 7, 2024 /PRNewswire/ -- Nuvve Holding Corp. (Nuvve) (Nasdaq: NVVE), a green energy technology company that provides a globally-available, commercial vehicle-to-grid (V2G) technology platform designed to enable electric vehicle (EV) batteries to store and resell unused energy back to the local electric grid and provides other grid services, will provide first quarter 2024 update on Tuesday, May 14, ...