Nuvve and Great Power Announce Strategic Partnership to Accelerate Electric Vehicle Integration and Renewable Energy Adoption

Core Viewpoint - Nuvve Holding Corp and Guangzhou Great Power Energy and Technology Corporation have formed a strategic partnership to enhance stationary storage battery deployments and their integration with the grid, aiming to accelerate the electrification of transportation and improve energy management solutions [1][2]. Group 1: Partnership Objectives - The partnership aims to combine Great Power's stationary batteries with electric vehicle charging infrastructure to create significant product differentiation and market advantage [2]. - Nuvve will serve as the preferred energy manager and flexibility aggregator for Great Power solutions, enhancing the value proposition for customers [3]. - Both companies share mutual interests in accelerating vehicle electrification, providing energy management software, and unlocking new savings and revenue sources for customers [3]. Group 2: Technological Integration - Nuvve's GIVe™ platform will transform electric vehicles and stationary batteries into grid-integrated energy storage resources, optimizing energy usage and supporting renewable energy integration [2][4]. - The integration of Great Power battery solutions with Nuvve's energy management system (EMS) and GIVe platform is expected to be completed by Q3 2024 [5]. Group 3: Economic Impact - The partnership is projected to enhance the US supply chain and bolster local economies, supporting the U.S. in maintaining a competitive edge in green technology globally [6]. - Initial deployments include projects in San Diego and Fresno, with plans for a combined project pipeline across North America, Europe, and Asia [6]. Group 4: Cost Savings and Efficiency - Nuvve's techno-economic modeling indicates that customers, particularly in high energy rate areas, could save up to 40% or more on their energy bills by utilizing Nuvve's battery energy storage systems [4].