City of Socorro Awarded $610,000 for Grid Modernization in New Mexico
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 23 2026
0mins
Should l Buy NVVE?
The City of Socorro has been awarded $610,000 in funding from the State of New Mexico's Energy Conservation and Management Division, ECAM, to advance a grid modernization initiative aimed at improving reliability, resilience, and long-term energy infrastructure planning. The funding allows Socorro Electric Cooperative, SEC, and Nuvve New Mexico to design and engineer a utility-scale battery energy storage system, BESS, and associated grid upgrades. "This is an important step forward for grid modernization in New Mexico," said Ted Smith, CEO of Nuvve New Mexico. "We are creating a clear and practical pathway toward deploying advanced battery storage in a way that improves reliability and reduces costs for the community through peak demand management, improved system efficiency and enhanced grid resilience. This project is structured to be replicable across other rural co-ops and municipalities throughout the state."
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Analyst Views on NVVE
About NVVE
Nuvve Holding Corp. is a green energy technology company. The Company provides a commercial vehicle-to-grid (V2G) technology platform that enables electric vehicle (EV) and stationary batteries to store and resell unused energy back to the local electric grid and provide other grid services. Its proprietary vehicle to grid (V2G) technology, including the Company's Grid Integrated Vehicle (GIVe) cloud-based software platform that enables it to link multiple electric vehicle (EV) batteries into a virtual power plant (VPP) to provide bi-directional energy to the electrical grid in a qualified and secure manner. It offers networked charging stations, infrastructure, software, professional services, support, monitoring and parts and labor warranties required to run electric vehicle fleets, as well as low or free energy costs. It also operates a small number of company owned charging stations, serving as demonstration projects funded by government grants.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
NUVVE JAPAN Secures 200 Million JPY Funding Round
- Funding Amount: NUVVE JAPAN K.K. has successfully raised 200 million JPY, which will be utilized to strengthen personnel structures and expand office facilities, thereby enhancing operational efficiency and accelerating market penetration.
- Talent Acquisition: The new capital will be directed towards recruiting engineers and business development professionals to support the company's expansion in the Japanese market, ensuring the ability to meet increasing customer demands and enhance technical capabilities.
- IPO Preparation: NUVVE JAPAN plans to accelerate its public listing in the Japanese market by establishing a dedicated IPO preparatory office, aiming to further strengthen the company's financial position and market influence through capital markets.
- Regional Expansion: By scaling regional bases, NUVVE JAPAN will optimize its organizational structure to accommodate business growth, enhancing competitiveness in the Japanese market and driving the achievement of sustainability goals.
See More
Nuvve Holding Corp. Q4 2025 Earnings Call Insights
- Strategic Shift: CEO Gregory Poilasne framed 2025 as a transition year for Nuvve Holding, pivoting from vehicle-to-grid deployments to stationary storage, emphasizing the transformative partnership with OMNIA, which aims to deploy over 1 gigawatt of battery projects across Europe within the next 24 months, showcasing the company's adaptability in a rapidly evolving energy market.
- Financial Performance: CFO David Robson reported fourth-quarter revenues of $1.93 million, up from $1.79 million in Q4 2024, driven by higher product sales and increased grant revenues, although partially offset by the absence of management fees from the Fresno EV infrastructure project, reflecting the company's efforts in revenue diversification.
- Cost Control: Robson highlighted a significant reduction in operating costs to $3.7 million in Q4, down from $5.9 million in Q3, primarily due to lower payroll expenses, indicating proactive measures in enhancing operational efficiency and reducing costs.
- Inventory Impairment: The company recognized a $3.47 million inventory impairment related to certain 125-kilowatt V2G DC chargers that did not meet commercial reliability standards, leading to a decision to cease domestic sales, which underscores challenges in product quality management and its impact on future sales strategies.
See More
Nuvve Reports Q4 Financial Results
- Financial Overview: Nuvve reported a GAAP EPS of -$6.38 for Q4, indicating significant challenges in profitability that may impact investor confidence.
- Revenue Growth: Despite the negative EPS, Nuvve achieved revenue of $1.9 million, reflecting a 6.1% year-over-year increase, suggesting that the company still has growth potential in the market, which could attract investors with a positive outlook.
- Market Reaction: The ongoing losses and negative EPS may lead to stock price volatility, prompting investors to carefully assess Nuvve's long-term investment value amidst these challenges.
- Future Outlook: Nuvve must implement effective strategies to improve profitability in order to remain competitive in the rapidly evolving electric vehicle charging market and ensure sustainable growth moving forward.
See More
Nuvve Reports Q4 2025 Financial Results and Strategic Shift
- Funding Situation: In Q4 2025, Nuvve raised $8.1 million through a private preferred stock offering, warrant exercises, and debt obligations, aimed at supporting operations and growth initiatives, despite facing a slowdown in the EV market.
- Revenue and Profit: Total revenue for Q4 2025 was $1.95 million, up from $1.79 million in Q4 2024, primarily driven by increased product sales; however, the decline in service revenue highlights challenges in diversifying income sources.
- Operating Loss: The net loss for Q4 2025 was $6.31 million, an increase of 23.7% from $5.10 million in Q4 2024, mainly due to rising operating expenses, indicating pressure on the company to control costs and improve profitability.
- Inventory Impairment: The company recognized a $3.47 million inventory impairment loss in Q4 due to certain 125 kW V2G DC chargers failing to meet reliability standards, significantly impacting financial performance and underscoring the importance of product quality management.
See More
Nuvve Launches 60 MW Battery Storage Project in Romania
- Rapid Project Expansion: Nuvve's collaboration with OMNIA Global has activated three European projects in under two weeks, with the 60 MW battery energy storage system in Romania bringing its total European capacity to over 150 MW, showcasing the company's execution capabilities in a fast-growing market.
- High Revenue Potential: Nuvve's European battery storage platform has an annual revenue potential ranging from $250,000 to $500,000 per MW, with Romania expected to be a significant contributor due to its high-yield market characteristics, reflecting the region's lucrative revenue dynamics.
- Strong Market Demand: The Romanian battery storage project is set to commence commercial operations in Q4 2026, aimed at addressing the country's increasing demand for balancing and ancillary services, further solidifying Nuvve's market position in Europe.
- Deepened Strategic Cooperation: Through its partnership with OMNIA Global, Nuvve has secured a development pipeline of over 700 MW, ensuring grid access and signing EPC contracts, demonstrating its strategic positioning and foresight in the European energy infrastructure sector.
See More
Nuvve Secures 40 MW Battery Storage Project in Austria
- Project Scale and Revenue: Nuvve's newly added 40 MW / 80 MWh battery energy storage system in Austria is projected to generate approximately $10.8 million in annual revenue, and combined with the Swedish project, the annual revenue potential exceeds four times Nuvve's FY2024 revenues, indicating strong growth potential in the European market.
- Strategic Cooperation Framework: This project is the second asset activated under the cooperation agreement with OMNIA Group, demonstrating Nuvve's rapid expansion strategy in the European market and enhancing its position as a multi-country grid aggregation operator.
- Acquisition Rights: Nuvve holds a right of first refusal to acquire the project at an independently assessed valuation, further strengthening its long-term asset ownership options in the European market and supporting the transition from a fee-based operator to full asset owner.
- Market Optimization and Compliance: The project is designed in accordance with Austrian electricity laws, with a projected EBITDA margin exceeding 80%, optimizing revenue structures through participation in various market services, thereby enhancing Nuvve's competitiveness in the European energy market.
See More
NUVVE JAPAN Secures 200 Million JPY Funding Round
- Funding Amount: NUVVE JAPAN K.K. has successfully raised 200 million JPY, which will be utilized to strengthen personnel structures and expand office facilities, thereby enhancing operational efficiency and accelerating market penetration.
- Talent Acquisition: The new capital will be directed towards recruiting engineers and business development professionals to support the company's expansion in the Japanese market, ensuring the ability to meet increasing customer demands and enhance technical capabilities.
- IPO Preparation: NUVVE JAPAN plans to accelerate its public listing in the Japanese market by establishing a dedicated IPO preparatory office, aiming to further strengthen the company's financial position and market influence through capital markets.
- Regional Expansion: By scaling regional bases, NUVVE JAPAN will optimize its organizational structure to accommodate business growth, enhancing competitiveness in the Japanese market and driving the achievement of sustainability goals.
See More
Nuvve Holding Corp. Q4 2025 Earnings Call Insights
- Strategic Shift: CEO Gregory Poilasne framed 2025 as a transition year for Nuvve Holding, pivoting from vehicle-to-grid deployments to stationary storage, emphasizing the transformative partnership with OMNIA, which aims to deploy over 1 gigawatt of battery projects across Europe within the next 24 months, showcasing the company's adaptability in a rapidly evolving energy market.
- Financial Performance: CFO David Robson reported fourth-quarter revenues of $1.93 million, up from $1.79 million in Q4 2024, driven by higher product sales and increased grant revenues, although partially offset by the absence of management fees from the Fresno EV infrastructure project, reflecting the company's efforts in revenue diversification.
- Cost Control: Robson highlighted a significant reduction in operating costs to $3.7 million in Q4, down from $5.9 million in Q3, primarily due to lower payroll expenses, indicating proactive measures in enhancing operational efficiency and reducing costs.
- Inventory Impairment: The company recognized a $3.47 million inventory impairment related to certain 125-kilowatt V2G DC chargers that did not meet commercial reliability standards, leading to a decision to cease domestic sales, which underscores challenges in product quality management and its impact on future sales strategies.
See More
Nuvve Reports Q4 Financial Results
- Financial Overview: Nuvve reported a GAAP EPS of -$6.38 for Q4, indicating significant challenges in profitability that may impact investor confidence.
- Revenue Growth: Despite the negative EPS, Nuvve achieved revenue of $1.9 million, reflecting a 6.1% year-over-year increase, suggesting that the company still has growth potential in the market, which could attract investors with a positive outlook.
- Market Reaction: The ongoing losses and negative EPS may lead to stock price volatility, prompting investors to carefully assess Nuvve's long-term investment value amidst these challenges.
- Future Outlook: Nuvve must implement effective strategies to improve profitability in order to remain competitive in the rapidly evolving electric vehicle charging market and ensure sustainable growth moving forward.
See More
Nuvve Reports Q4 2025 Financial Results and Strategic Shift
- Funding Situation: In Q4 2025, Nuvve raised $8.1 million through a private preferred stock offering, warrant exercises, and debt obligations, aimed at supporting operations and growth initiatives, despite facing a slowdown in the EV market.
- Revenue and Profit: Total revenue for Q4 2025 was $1.95 million, up from $1.79 million in Q4 2024, primarily driven by increased product sales; however, the decline in service revenue highlights challenges in diversifying income sources.
- Operating Loss: The net loss for Q4 2025 was $6.31 million, an increase of 23.7% from $5.10 million in Q4 2024, mainly due to rising operating expenses, indicating pressure on the company to control costs and improve profitability.
- Inventory Impairment: The company recognized a $3.47 million inventory impairment loss in Q4 due to certain 125 kW V2G DC chargers failing to meet reliability standards, significantly impacting financial performance and underscoring the importance of product quality management.
See More
Nuvve Launches 60 MW Battery Storage Project in Romania
- Rapid Project Expansion: Nuvve's collaboration with OMNIA Global has activated three European projects in under two weeks, with the 60 MW battery energy storage system in Romania bringing its total European capacity to over 150 MW, showcasing the company's execution capabilities in a fast-growing market.
- High Revenue Potential: Nuvve's European battery storage platform has an annual revenue potential ranging from $250,000 to $500,000 per MW, with Romania expected to be a significant contributor due to its high-yield market characteristics, reflecting the region's lucrative revenue dynamics.
- Strong Market Demand: The Romanian battery storage project is set to commence commercial operations in Q4 2026, aimed at addressing the country's increasing demand for balancing and ancillary services, further solidifying Nuvve's market position in Europe.
- Deepened Strategic Cooperation: Through its partnership with OMNIA Global, Nuvve has secured a development pipeline of over 700 MW, ensuring grid access and signing EPC contracts, demonstrating its strategic positioning and foresight in the European energy infrastructure sector.
See More
Nuvve Secures 40 MW Battery Storage Project in Austria
- Project Scale and Revenue: Nuvve's newly added 40 MW / 80 MWh battery energy storage system in Austria is projected to generate approximately $10.8 million in annual revenue, and combined with the Swedish project, the annual revenue potential exceeds four times Nuvve's FY2024 revenues, indicating strong growth potential in the European market.
- Strategic Cooperation Framework: This project is the second asset activated under the cooperation agreement with OMNIA Group, demonstrating Nuvve's rapid expansion strategy in the European market and enhancing its position as a multi-country grid aggregation operator.
- Acquisition Rights: Nuvve holds a right of first refusal to acquire the project at an independently assessed valuation, further strengthening its long-term asset ownership options in the European market and supporting the transition from a fee-based operator to full asset owner.
- Market Optimization and Compliance: The project is designed in accordance with Austrian electricity laws, with a projected EBITDA margin exceeding 80%, optimizing revenue structures through participation in various market services, thereby enhancing Nuvve's competitiveness in the European energy market.
See More
