Nuvve Partners With Swell Energy On EV Charging Solution

Nuvve Holding Corp NVVE has partnered with Swell Energy Inc to advance opportunities for electric vehicle (EV) participation in Swell's virtual power plant (VPP) network.
Nuvve expects the integration of its EV resources with Swell's VPPs to allow it to earn valuable grid service revenue.
The parties aim to advance distributed energy resource (DER) management technology in residential and commercial markets.
The collaboration will expand opportunities for residential customers to combine battery storage, solar, and smart EV charging into a home energy system.
As an initial target, 2 MW of capacity from existing Swell utility contracts will be made available for Nuvve to access in 2022.
Price Action: NVVE shares are trading lower by 2.57% at $6.82 on the last check Friday.