Nuvve Holding Corp. has earned a competitively awarded contract with Sourcewell, a cooperative purchasing organization, making it quicker and easier for participating agencies to transition to electric vehicle (EV) fleets while taking advantage of the economic and sustainability benefits of Nuvve’s intelligent energy platform.
Through this contract, government, education and nonprofit entities can also leverage Nuvve technology and expertise to better manage their EV assets and future-proof their investments.
Normally, government, education and nonprofit agencies looking to electrify their transportation need to go through a burdensome bidding process before receiving approval to begin the electrification of their fleets. Through Nuvve’s contract with Sourcewell, the bidding process has already been completed and awarded, thereby affording Sourcewell clients immediate access to Nuvve’s V2G platform and EV charging solutions, including Level 2 AC chargers and V2G DC fast chargers.
“Electrifying fleet vehicles using Nuvve’s technology presents a fantastic opportunity to slash greenhouse gas emissions within the transportation sector while also making our energy grid cleaner and more resilient,” says Gregory Poilasne, chairman and CEO of Nuvve. “Now, the 50,000 Sourcewell users can take advantage of our proprietary, industry-leading turnkey electrification solutions and expertise in transitioning fleets to electric now while optimizing their EV investments for the future.”
Nuvve’s software platform always prioritizes vehicles having enough charge to perform daily driving duties and work within OEM battery warranty limits. It also creates cost savings by precisely controlling the flow of energy between EV batteries and charging stations, and by charging when utility rates are lower.
Additionally, Nuvve’s V2G technology allows EV batteries to store and discharge energy and then use this excess, stored energy to perform services that help stabilize the grid. Nuvve can earn revenue from these services that vary by region but start at $2,000 per vehicle per year for light-duty vans. The combination of charging savings and revenue generation reduces the total cost of ownership of an EV to be on par with their combustion engine counterparts over the lifetime of the vehicle. Furthermore, the technology enables EVs to act as “storage on wheels” for renewable energy, including solar and wind that is intermittent by nature, and helps integrate these resources into the grid in a more reliable way.