Fresno EOC to implement Nuvve's turnkey fleet
electrification program including vehicle-to-grid capability, in
ambitious step toward a cleaner community via green
transportation
SAN
DIEGO and FRESNO,
Calif., Jan. 23, 2024 /PRNewswire/ -- Nuvve
Holding Corp. (Nasdaq: NVVE), a global technology leader
accelerating the electrification of transportation through its
proprietary vehicle-to-grid (V2G) platform, today was selected
and approved by the Board of the Fresno Economic Opportunities
Commission (Fresno EOC) to implement its turnkey fleet
electrification program for Fresno EOC's 50-shuttle fleet. Nuvve
assisted Fresno EOC, one of the largest nonprofit community action
agencies in the U.S., in securing grant funding through the
Carl Moyer Memorial Air Quality
Standards Attainment Program ("Carl Moyer Program") and Pacific Gas
& Electric ("PG&E"). This groundbreaking initiative
underscores Fresno EOC's commitment to sustainable transportation
and marks a significant step towards reducing the city's carbon
footprint.
Fresno EOC Transit Systems, renowned for its dedication to
community service and environmental stewardship, is embarking on a
mission to transition its fleet to electric vehicles. This
initiative is at the heart of Fresno EOC's strategy to offer
the Fresno community cleaner, more
efficient, and sustainable transportation options. This project
aims to contribute significantly to the city's environmental goals
by reducing reliance on fossil fuels.
Nuvve has taken the lead in the Fresno EOC Fleet Electrification
Project, with a vision to create a sustainable and thriving
community. The project is driven by a commitment to empowering the
local workforce, by providing opportunities for workforce
development and fostering economic growth in Fresno. Nuvve's strategy centers around a
symbiotic relationship with the Fresno community, prioritizing local hiring
initiatives and partnerships with Fresno-based suppliers. Through targeted
recruitment and workforce training, Nuvve aims to promote a diverse
and skilled workforce, while upholding quality and safety
standards. By working together, Nuvve and the Fresno community are paving the way for
excellence in fleet electrification, while enhancing local skill
sets and economic prosperity.
Project partner Molle Energy, through its Révis Dynamics
division, will contribute infrastructure support as Fresno EOC
acquires and deploys 50 electric Class-A shuttles at a rate of 10
per year over five years and installs a 2.5-megawatt on-site solar
generation and battery energy storage system to charge the new
electric shuttle fleet. Nuvve will provide its proprietary Nuvve
GIVe™ software platform and V2G technology. Nuvve's expertise
ensures a seamless transition to an electrified fleet, offering
Fresno EOC Transit Systems the tools to manage energy
efficiently, reduce operational costs, and embrace renewable energy
solutions. Nuvve's technology supports Fresno's vision of a greener future and
enhances transportation services' overall reliability and
effectiveness.
"Fresno as a community has
historically endured poor air quality due to tailpipe emissions
from the Los Angeles basin and
gas-fired peaker power plants," said Nuvve co-founder and CEO
Gregory Poilasne. "With the adoption
of our cutting-edge electric vehicle software
and infrastructure, this project can serve as a model approach
for modern, efficient, and eco-friendly public transportation."
Fresno EOC oversees more than 35 human services programs to help
underserved populations in California's Fresno
County become more self-sufficient. It uses its bus fleet to
transport community members to and from work, school and medical
appointments, deliver meals, and fill other transportation needs to
support its mission.
"This project is crucial, and it's important for the community
to understand our commitment to lowering carbon emissions and
advocating for renewable energy. It's also about raising awareness
on energy conservation and tackling climate change," remarked
Thomas Dulin, Director of Fresno EOC
Transit Systems. "There's no better method to showcase the
financial and environmental benefits than through the
implementation of an electrified fleet that exemplifies
cutting-edge energy conservation."
This electrification project places Fresno at the forefront of sustainable urban
transit in the nation. While Nuvve brings a wealth of global
experience and technological know-how, the focus of this
collaboration is firmly rooted in meeting the unique needs and
aspirations of the Fresno
community. The successful implementation of this project is poised
to serve as a model for other cities looking to embark on similar
sustainability journeys.
For more information on Nuvve, available charging solutions, or
V2G technology, visit nuvve.com. For more information on Fresno
EOC, visit fresnoeoc.org.
About Fresno Economic Opportunities Commission
(EOC)
Established in 1965, Fresno EOC is a non-profit
Community Action Agency that provides opportunities, strengthens
self-sufficiency, and offers support for all people. We listen to
the needs of the communities we serve to create effective programs
and services. Fresno EOC is at the forefront, continuing the war on
poverty with more than 35 programs dedicated to getting people the
help they need to achieve their goals.
About Nuvve Holding Corp.
Nuvve (Nasdaq: NVVE) is a
global technology leader accelerating the electrification of
transportation through its proprietary vehicle-to-grid (V2G)
platform. Nuvve's mission is to lower the cost of electric vehicle
ownership while supporting the integration of renewable energy
sources, including solar and wind. For more information, please
visit nuvve.com.
Fresno EOC Press Contact
Cedric Hood |
Cedric.hood@fresnoeoc.org | +1 559-475-3714
https://www.blue-bird.com/buses/allamerican/all-american-re-electric-bus
Nuvve Investor Contact
ICR
nuvve@icrinc.com | +1 646-200-8872
Nuvve Press Contact
(W)right On Communications
Larry Smalheiser |
lsmalheiser@wrightoncomm.com | +1 925-413-3137
Nuvve Forward Looking Statements
This press release
contains forward-looking statements or forward-looking information
within the meaning of the U.S. Private Securities Litigation Reform
Act of 1995. Forward-looking statements may be identified by the
use of forward-looking terms such as "may," "will," "expects,"
"believes," "aims," "anticipates," "plans," "looking forward to,"
"estimates," "projects," "assumes," "guides," "targets,"
"forecasts," "continue," "seeks" or the negatives of such terms or
other variations on such terms or comparable terminology, although
not all forward-looking statements contain such identifying words.
Forward-looking statements include, but are not limited to,
statements concerning the Company's expectations, plans,
intentions, strategies, prospects, business plans, product and
service offerings, new product launches, potential clinical
successes, and other statements that are not historical facts.
Nuvve cautions you that these forward-looking statements are
subject to numerous risks and uncertainties, most of which are
difficult to predict and many of which are beyond the control of
Nuvve. Such statements are based upon the current beliefs and
expectations of management and are subject to significant risks and
uncertainties that could cause actual outcomes and results to
differ materially. Some of these risks and uncertainties can
be found in Nuvve's most recent Annual Report on Form 10-K and
subsequent periodic reports filed with the Securities and Exchange
Commission (SEC). Copies of these filings are available online at
www.sec.gov, https://investors.nuvve.com/ or on request from
Nuvve. These factors should not be construed as exhaustive and
should be read in conjunction with the other cautionary statements
that are included in the Nuvve's filings with the SEC. Such
forward-looking statements speak only as of the date made, and
Nuvve disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. Readers of this press release are
cautioned not to place undue reliance on these forward-looking
statements, since there can be no assurance that these
forward-looking statements will prove to be accurate. This
cautionary statement is applicable to all forward-looking
statements contained in this press release.
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SOURCE Nuvve Holding Corp.