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Benzinga
Benzinga
Business
Shivani Kumaresan

Nuvve Partners With Swell Energy On EV Charging Solution

Swell
  • Nuvve Holding Corp (NASDAQ:NVVE) has partnered with Swell Energy Inc to advance opportunities for electric vehicle (EV) participation in Swell's virtual power plant (VPP) network.
  • Nuvve expects the integration of its EV resources with Swell's VPPs to allow it to earn valuable grid service revenue.
  • The parties aim to advance distributed energy resource (DER) management technology in residential and commercial markets.
  • The collaboration will expand opportunities for residential customers to combine battery storage, solar, and smart EV charging into a home energy system.
  • As an initial target, 2 MW of capacity from existing Swell utility contracts will be made available for Nuvve to access in 2022.
  • Price Action: NVVE shares are trading lower by 2.57% at $6.82 on the last check Friday.
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