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Investing.com -- Nuvve Holding Corp (NASDAQ:NVVE) stock skyrocketed over 180% in premarket trading Thursday after the company announced its Japanese subsidiary secured an aggregation agreement for existing stationary storage batteries in Japan.
The agreement involves a high-voltage storage battery in Tainai City, Niigata Prefecture, with an output of 1,999 kW and a capacity of 8,170 MWh. The operation is expected to commence in the first half of 2026, according to the company.
As the aggregator, NUVVE Japan will handle market operation and control, primarily participating in the supply-demand adjustment market and wholesale electricity market. This arrangement aims to generate revenue for the client while contributing to regional power stabilization.
"This scale is standard for grid-scale storage batteries in Japan and is capable of absorbing the peak power consumption of hundreds of households throughout the year," said Gregory Poilasne, CEO and Founder of Nuvve.
Nuvve, which specializes in vehicle-to-grid (V2G) technology, views this agreement as an expansion of its energy management capabilities beyond electric vehicles. The company’s technology integrates distributed storage assets to improve power system efficiency and reliability.
"This contract is the first step, demonstrating new possibilities for utilizing storage resources in Japan," Poilasne added.
NUVVE Japan plans to expand this distributed operation model to other regions in Japan, leveraging existing storage assets to support stable power delivery and grid modernization efforts.
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