Nuvve Holding Corp., a vehicle-to-grid (V2G) platform company, and Blue Bird Corp. are deploying the financing capabilities from Levo Mobility LLC, Nuvve’s joint venture with Stonepeak Partners LP, across Blue Bird’s distribution network. It allows customers to lease V2G electric school buses, related charging infrastructure and energy management for a flat monthly fee with no upfront costs.
Levo will offer its fleet-as-a-service model through Blue Bird’s nationwide distribution network, providing fully financed electric school buses along with associated charging infrastructure, service and energy management to qualified Blue Bird customers and dealers. Levo has a capital commitment of up to $750 million, with the potential to electrify up to 3,500 school buses.
Nuvve and Blue Bird previously announced their collaboration to introduce V2G-compatible electric buses to the U.S. market and integrate electric vehicles into the grid using Nuvve’s V2G platform. All Blue Bird Type C and D electric buses are manufactured with Nuvve’s V2G integration which, when combined with a Nuvve V2G charging station, are able to store and discharge energy. The excess stored energy across multiple buses can be combined to form virtual power plants.
“We are always looking at innovative ways to reduce our customers’ cost of ownership for their school buses,” states Phil Horlock, CEO of Blue Bird Corporation. “By incorporating the cost of charging infrastructure and the benefits from lower operating costs and V2G revenue into the lease price, the total value of zero-emission Blue Bird school buses becomes very attractive. We are excited to collaborate with Nuvve and look forward to continuing to advance our positions as market leaders in the V2G-enabled electric school bus segment.”
Nuvve’s V2G platform and charging infrastructure will also be installed at Blue Bird’s manufacturing facility to allow all new electric buses to quickly charge before delivery. The two companies also plan to deploy Nuvve V2G charging stations along with electric buses at select Blue Bird dealers in multiple states across the U.S.
Seems this lease program should be too good to pass up if the numbers prove out? Take into consideration that repairs will be far less, cost to fuel(electricity) is eliminated and even a revenue source to reduce the cost of leasing while helping the environment.