Sourcewell Re-Awards Contract with Leading V2G Provider, Nuvve

Nuvve brings comprehensive charging solutions as public agencies seek to electrify fleets

SAN DIEGO--(BUSINESS WIRE)--Nuvve Holding Corp. (NASDAQ: NVVE), a global technology leader accelerating the electrification of transportation through its proprietary vehicle-to-grid (V2G) platform, today announced they were awarded another contract with Sourcewell, a hub that empowers over 75,000 public agencies with cooperative contracts to meet the evolving needs of their communities. This reinforces a valued and growing partnership focused on fleet electrification for public sector clients.

“This second award proves the ongoing value Nuvve delivers to the government market and is a testament to the shared vision and trust between our organizations,” said Gregory Poilasne, CEO and Co-Founder of Nuvve. “The contract creates a streamlined procurement process for public sector customers, which in turn enables more efficient and seamless electrification. We look forward to delivering even greater electrification benefits to their customers and communities.”

Nuvve’s work with Sourcewell provides school districts, municipalities, and other public entities a transition to electric vehicle fleets with V2G services through a smooth, streamlined process.

Government, education, and nonprofit agencies looking to electrify their transportation typically had to go through a burdensome bidding process before receiving approval to begin the electrification of their fleets.

Through Sourcewell, these agencies have immediate access to Nuvve’s charging solutions including Level 2 AC chargers, unidirectional and bidirectional (V2G) DC fast chargers and Nuvve’s energy management software Nuvve FLEETBOX^TM.

This contract marks another milestone in Nuvve’s mission to accelerate the adoption of clean transportation solutions across communities nationwide. For more information about Nuvve and its cutting-edge energy solutions, visit www.nuvve.com.

About Nuvve Holding Corp.

Nuvve Holding Corp. is a global leader accelerating the electrification of transportation through its proprietary vehicle-to-grid (V2G) technology. Nuvve’s platform enables electric vehicles to store and discharge energy, transforming EVs into mobile energy resources and helping to stabilize the grid. Nuvve’s mission is to lower the cost of EV ownership while supporting the transition to a cleaner, more resilient energy infrastructure.

About Sourcewell

Sourcewell empowers public employees through dynamic solutions and services that drive efficiency and impact. As a government organization serving thousands of public agencies across the United States and Canada, Sourcewell understands the day-to-day challenges public employees face. From cooperative contracts and related solutions, to education and community resources, Sourcewell is committed to providing high-quality service while supporting community success. Visit sourcewell-mn.gov to learn more. See current job openings at sourcewell-mn.gov/careers.

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 regarding Nuvve’s anticipated public offering, including the completion of the public offering on the anticipated terms and the use of proceeds therefrom, expected timing of recently announced projects, anticipated growth of various business areas, anticipated benefits of its digital treasury strategy, the potential benefits from including HYPE in such policy, 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). 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.