Nuvve Vehicle-to-Grid Tech Receives IEEE Certification for Utility-Scale Communications

IEEE CSIP 2030.5 standard is relied upon by utilities to allow communication between Distributed Energy Resources Management Systems (DERMS) 

SAN DIEGO, Nov. 3, 2022 /PRNewswire/ -- Nuvve Holding Corp.'s GIVe™ (Grid Integrated Vehicle) vehicle-to-grid (V2G) platform is now a certified product compliant with the IEEE™ 2030.5 SunSpec Common Smart Inverter Profile (CSIP) standard. This certification is the most widely adopted communications standard between Distributed Energy Resources (DER) and enables Nuvve's GIVe V2G platform to connect and communicate with the leading Distributed Energy Resources Management Systems (DERMS). Nuvve chose to utilize Congruence.IQ (C.IQ) software by Tantalus Systems, a smart grid technology company, focused on helping build sustainable utilities, to assist with this certification process.

Nuvve chose Tantalus to facilitate the SunSpec certification process of their innovative V2G bi-directional charging solution due to Tantalus' extensive and proven experience with utility data interoperability. Nuvve's V2G technology works by allowing vehicle batteries to charge during the day when energy—particularly renewable energy such as solar—is abundant and discharge during times of high demand or when sources of renewable power are less available. 

SunSpec Alliance is the information standards and certification organization for the DER industry. SunSpec communication standards address operational requirements of solar and energy storage on the smart grid. Products certified by SunSpec to the 2030.5 standard for wide-area communication can be installed on sites connected to California Investor-Owned Utilities and can have confidence in their compatibility with local area communication protocols like the freely available SunSpec Modbus Standards.

"As the global leader in V2G, this certification lets our utility partners and customers know that our technology and mobile energy storage sources can be trusted to provide the reliability and responsiveness they need," said Nuvve Co-founder and CEO, Gregory Poilasne.

School buses are an excellent use case for V2G integration. Given their larger batteries, the joint solution provides utility command and control of this valuable storage asset which can become a tool for utilities to manage peak demand and enhance grid resiliency.

Nuvve's GIVe platform aggregates electric vehicle batteries across multiple sites and fleets to form a virtual power plant. Utilities and other Load Serving Entities (LSEs) can now draw upon the excess stored electricity in Nuvve-managed EV batteries during periods of peak load. Fleet operators can also offset their fleet electrification costs through revenues from their electricity exports; utilities and transmission system operators can maintain grid reliability as millions of electric vehicles come online as storage resources and not just additional load.

"Nuvve GIVe can now communicate with other utility-level DERMS, receive signals when the grid is stressed and send data back to the utility about forecasted electricity capacity or kilowatts exported to the grid," said Nuvve Director of Embedded Solutions, Hamza Lemsaddek. "In addition, our platform also performs other important functions for fleet operators, including balancing the mobility requirements of each electric vehicle in a fleet."

Nuvve GIVe's ability to aggregate distributed energy resources across multiple electric vehicle batteries was successfully tested for compliance with the networking standard in July, with certification awarded in August.

"As we saw during the recent heat waves in California and Texas, utilities are struggling to manage peak load and are relying on outreaches to customers to voluntarily conserve energy to mitigate the risk of blackouts," said Peter Londa, president & CEO of Tantalus Systems. "As the demand for electricity increases due to the adoption of electric vehicles, we're excited to collaborate with Nuvve by leveraging our expertise with the IEEE™ 2030.5-2018 networking standard to enable utilities to improve their resiliency by converting vehicle batteries into dispatchable assets through innovative V2G solutions."

About Nuvve Holding Corp.  
Nuvve Holding Corp. (Nasdaq: NVVE) is leading the electrification of the planet, beginning with transportation, through its intelligent energy platform. Combining the world's most advanced vehicle-to-grid (V2G) technology and an ecosystem of electrification partners, Nuvve dynamically manages power among electric vehicle (EV) batteries and the grid to deliver new value to EV owners, accelerate the adoption of EVs, and support the world's transition to clean energy. By transforming EVs into mobile energy storage assets and networking battery capacity to support shifting energy needs, Nuvve is making the grid more resilient, enhancing sustainable transportation, and supporting energy equity in an electrified world. Since its founding in 2010, Nuvve has successfully deployed V2G on five continents and offers turnkey electrification solutions for fleets of all types. Nuvve is headquartered in San Diego, Calif. and can be found online at nuvve.com.

Nuvve and associated logos are among the trademarks of Nuvve and/or its affiliates in the United States, certain other countries and/or the EU. Any other trademarks or trade names mentioned are the property of their respective owners.

Nuvve Press Contact
(W)right On Communications
David Cumpston | dcumpston@wrightoncomm.com | 415-902-4461

Nuvve Investor Contact
ICR Inc.
nuvve@icrinc.com | 646-200-8872

Nuvve Forward-Looking Statements  
The information in this press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding Nuvve and Nuvve's strategy, future operations, estimated and projected financial performance, prospects, plans and objectives are forward-looking statements. When used in this press release, the words "could," "should," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Nuvve disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Nuvve cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Nuvve. In addition, Nuvve cautions you that the forward-looking statements contained in this press release are subject to the following factors: (i) risks related to the rollout of Nuvve's business and the timing of expected business milestones; (ii) Nuvve's dependence on widespread acceptance and adoption of electric vehicles and increased installation of charging stations; (iii) Nuvve's ability to maintain effective internal controls over financial reporting (iv) Nuvve's current dependence on sales of charging stations for most of its revenues; (v) overall demand for electric vehicle charging and the potential for reduced demand if governmental rebates, tax credits and other financial incentives are reduced, modified or eliminated or governmental mandates to increase the use of electric vehicles or decrease the use of vehicles powered by fossil fuels, either directly or indirectly through mandated limits on carbon emissions, are reduced, modified or eliminated; (vi) potential adverse effects on Nuvve's backlog, revenue and gross margins if customers increasingly claim clean energy credits and, as a result, they are no longer available to be claimed by Nuvve; (vii) the effects of competition on Nuvve's future business; (viii) risks related to Nuvve's dependence on its intellectual property and the risk that Nuvve's technology could have undetected defects or errors; (ix) the risk that we conduct a portion of our operations through a joint venture exposes us to risks and uncertainties, many of which are outside of our control; (x) that our joint venture with Levo Mobility LLC may fail to generate the expected financial results, and the return may be insufficient to justify our investment of effort and/or funds; (xi) changes in applicable laws or regulations; (xii) the COVID-19 pandemic and its effect directly on Nuvve and the economy generally; (xiii) risks related to disruption of management time from ongoing business operations due to our joint ventures; (xiv) risks relating to privacy and data protection laws, privacy or data breaches, or the loss of data; (xv) the possibility that Nuvve may be adversely affected by 3 other economic, business, and/or competitive factors, including increased inflation and interest rates, and the Russian invasion of Ukraine; and (xvi) risks related to the benefits expected from the $1.2 trillion dollar infrastructure bill passed by the U.S. House of Representatives (H.R. 3684). Should one or more of the risks or uncertainties described in this press release materialize or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the Annual Report on Form 10-K filed by Nuvve with the Securities and Exchange Commission (SEC) on March 31, 2022, and in the other reports that Nuvve has, and will file from time to time with the SEC. Nuvve's SEC filings are available publicly on the SEC's website at www.sec.gov.

View original content to download multimedia:https://www.prnewswire.com/news-releases/nuvve-vehicle-to-grid-tech-receives-ieee-certification-for-utility-scale-communications-301667244.html

SOURCE Nuvve Holding Corp.