Nuvve and Capture Energy Sign Framework Agreement for BESS
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3d ago
0mins
Source: Yahoo Finance
- Framework Agreement Signed: Nuvve Denmark ApS and Capture Energy AB have signed a framework agreement formalizing a long-term collaboration on Battery Energy Storage Systems (BESS) in Europe, marking a significant deepening of their relationship and laying the groundwork for future projects.
- Initial Sales Contracts: Under this agreement, Nuvve has secured nearly $5 million in sales contracts for three projects with E&B Renewables, with Capture Energy responsible for design, delivery, and installation, ensuring timely project completion and providing 10 years of maintenance services.
- Modular Solutions: Nuvve CEO Gregory Poilasne stated that this agreement will streamline the sourcing of BESS, enabling a modular approach to scaling virtual power plants, thereby enhancing overall operational efficiency and flexibility.
- Market Expansion Potential: The parties intend to explore additional opportunities beyond the initial projects and are currently negotiating three more 10MW projects, indicating Capture Energy's strong growth potential in the European market and Nuvve's strategic positioning.
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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 and Capture Energy Sign Framework Agreement for BESS
- Framework Agreement Signed: Nuvve Denmark ApS and Capture Energy AB have signed a framework agreement formalizing a long-term collaboration on Battery Energy Storage Systems (BESS) in Europe, marking a significant deepening of their relationship and laying the groundwork for future projects.
- Initial Sales Contracts: Under this agreement, Nuvve has secured nearly $5 million in sales contracts for three projects with E&B Renewables, with Capture Energy responsible for design, delivery, and installation, ensuring timely project completion and providing 10 years of maintenance services.
- Modular Solutions: Nuvve CEO Gregory Poilasne stated that this agreement will streamline the sourcing of BESS, enabling a modular approach to scaling virtual power plants, thereby enhancing overall operational efficiency and flexibility.
- Market Expansion Potential: The parties intend to explore additional opportunities beyond the initial projects and are currently negotiating three more 10MW projects, indicating Capture Energy's strong growth potential in the European market and Nuvve's strategic positioning.
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Nuvve Holding Regains Compliance with $5.4M Private Placement and Expands into Energy Storage
- Successful Financing: Nuvve Holding regained compliance with the minimum bid rule by raising $5.4 million through the issuance of 6,000 Series A shares at the end of December, despite a staggering 96% decline in stock value over the past year, which aids in stabilizing its financial position.
- Business Expansion: The company announced a strategic shift towards stationary energy storage systems and microgrids, with its Denmark arm signing an MOU expected to generate at least $1.5 million annually, indicating significant growth potential in new markets.
- New Project Partnerships: Nuvve has entered into battery-as-a-service projects in New Mexico and battery storage initiatives in Japan, further enhancing its global energy solutions portfolio and aiming to improve its competitive edge in the market.
- Stock Price Volatility: Despite advancements in financing and business expansion, Nuvve's stock continues to decline, trading at $3.77 with a 19.96% drop, reflecting market concerns regarding its long-term outlook.
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