Nuvve Holding Corp. and Swell Energy Inc. are launching a strategic engagement to advance opportunities for electric vehicle (EV) participation in Swell’s virtual power plant (VPP) network. Together, the companies aim to advance distributed energy resource (DER) management technology in both residential and commercial markets.
This collaboration will expand opportunities for residential customers to combine battery storage, solar and smart EV charging into a comprehensive home energy system. These advanced optimization capabilities cater to both residential consumer energy use and EV transportation needs. Nuvve’s cloud-based software platform, GIVe (grid integrated vehicle), enables EVs to perform intelligent, bidirectional vehicle-to-grid (V2G) charging, transforming EVs into reliable DERs that can provide grid services, vehicle-level service and grid-connected building load management.
Swell’s GridAmp distributed energy resource management system maximizes DER value for utilities by simultaneously delivering multiple grid services to the utilities in its VPP networks and offering utility customers GridRevenue payments for participating in the virtual power plants.
“Integrating intelligent EV charging operations into Swell’s smart home energy system is a necessary next step in bridging to an increasingly electrified future where customers have greater control of their assets, opportunities to transact with the power grid, and have dependable energy resources available around the clock,” says Suleman Khan, CEO of Swell Energy. “By working with Nuvve we are accelerating the technologies necessary for that future and enabling EVs to be net contributors to the grid.”
Beyond the residential segment, Swell’s strengths in managing stationary DERs and VPPs will be combined with Nuvve’s strengths in managing EV fleets and V2G solutions to create comprehensive offerings to owners and operators of both commercial buildings and commercial EV fleets.
“By working with Swell to integrate with solar and stationary storage, we are creating a comprehensive solution for our commercial customers and expanding Nuvve’s business to the residential market, including single-family homes,” states Gregory Poilasne, CEO and chairman of Nuvve. “This is one more way we are catalyzing the adoption of EVs, creating a more resilient grid, and fulfilling our vision to accelerate the transition to clean energy.”
As an initial target of the strategic engagement, 2 MW of capacity from existing Swell utility contracts will be made available for Nuvve to access in 2022 with opportunities for significant growth in the near future.
