Nuvve partners with Roth Capital for strategic growth

SAN DIEGO - Nuvve Holding Corp. (NASDAQ:NVVE), recognized for its vehicle-to-grid (V2G) technology, has partnered with Roth Capital Partners (WA:CPAP) to bolster its strategic growth initiatives and enhance its position in grid modernization. This collaboration, announced Monday, is set to support Nuvve’s market expansion and deployment of its V2G ecosystem. According to InvestingPro data, the company faces significant financial challenges with a weak overall health score of 1.41 out of 5, highlighting the strategic importance of this partnership.

Roth Capital Partners, with its extensive experience in the cleantech and energy sectors, will guide Nuvve in exploring potential acquisitions, strategic partnerships, and market expansion opportunities. This move aligns with Nuvve’s objective to scale its operations and deliver innovative energy solutions, aiming to lead in grid modernization with its advanced AI-based energy management technologies. With analysts forecasting sales growth of 195% for FY2024, despite the company’s current revenue of $5.14 million, this partnership could prove crucial for Nuvve’s expansion plans.

Gregory Poilasne, CEO and Founder of Nuvve, highlighted the partnership’s importance in identifying and executing opportunities to accelerate the growth and adoption of Nuvve’s platform. Poilasne emphasized the company’s commitment to maintaining energy cost equity through optimized energy storage and transforming electric vehicle interactions with the grid. Nuvve continues to grow its portfolio of V2G solutions and partnerships with utilities, fleet operators, and energy providers. InvestingPro analysis suggests the stock is currently undervalued, though investors should note the company’s significant debt burden, with a debt-to-equity ratio of 2.62.

Nuvve’s V2G technology enables electric vehicles to store and distribute energy, integrating with renewable energy sources to foster a sustainable and efficient grid. The company’s engagement with Roth is expected to further its growth and capitalize on strategic opportunities.

This press release contains forward-looking statements, including Nuvve’s projected revenue growth, expansion in new markets, and the potential benefits and outcomes of its engagement with Roth Capital Partners. However, these statements are subject to risks and uncertainties that could cause actual results to differ materially. For a comprehensive analysis of Nuvve’s financial health, growth prospects, and risk factors, access the detailed Pro Research Report available exclusively on InvestingPro, which covers over 1,400 US stocks with expert insights and actionable intelligence.

The information provided is based on a press release statement from Nuvve Holding Corp.

In other recent news, Nuvve Holding Corp. has been active in various financial and strategic moves. The company successfully closed two registered direct offerings of its common stock, selling a total of 213,428 shares, as disclosed in its recent SEC filings. This capital-raising strategy involved issuing shares directly to investors, with Baker & Hostetler LLP providing legal opinions on the validity of the share issuances.

Nuvve also entered into a Task Order Agreement with Resource Innovations and ComEd to explore the potential of bidirectional charging using electric school buses, a project that could yield an estimated $0.6 million in professional service revenues. This initiative aims to assess the societal impacts and the integration of vehicle-to-grid (V2G) technology into clean transportation efforts.

The company has made some administrative adjustments, including extending a crucial stockholder meeting deadline from February 3 to February 21, 2025, according to another SEC filing. This extension allows Nuvve more time to secure stockholder approval for issuing shares exceeding 19.99% of its outstanding common stock.

Lastly, Nuvve has terminated its License and Escrow Agreements with Switch (NYSE:SWCH) EV Ltd. As part of the termination conditions, Switch EV Ltd. has agreed to make a one-time payment of $600,000 to Nuvve, with the potential for an additional $400,000 payment contingent upon certain conditions. These recent developments reflect Nuvve’s ongoing efforts to manage its financial and strategic operations effectively.

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