Nuvve Continues Scaling Effort Into Japanese Stationary Battery Segment
Portfolio Pulse from Benzinga Newsdesk
Nuvve Holding Corp. (NASDAQ:NVVE), in partnership with Toyota Tsusho and Chubu Electric Power Miraiz, is expanding its V2G capabilities in Japan by integrating stationary lithium-ion batteries produced by Nissin Electric Company. These batteries, totaling 30MWh in the Chubu area, will provide additional capacity and stabilizing services to the grid. The integration with Nuvve's GIVe platform allows for complex grid services and demand response, supporting Japan's 2050 carbon neutral goal and green transformation initiatives. Japan's grid expansion plan estimates a cost of $45 to $55 billion by 2050, with the battery market expected to grow significantly. Nuvve's CEO highlights the advanced AI-driven platform's ability to manage EVs and stationary storage batteries, enhancing grid services and Nuvve's growth.
December 12, 2023 | 2:16 pm
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Nuvve's expansion into Japan's stationary battery segment, in partnership with Toyota Tsusho and Chubu, and integration with Nissin Electric's batteries, positions the company to benefit from Japan's growing energy market and grid service revenues.
The news directly involves Nuvve's business expansion and technology deployment in a growing market, which is likely to be viewed positively by investors. The partnership with established companies and alignment with government initiatives suggest potential for increased revenue and market presence, likely leading to a positive short-term impact on NVVE's stock price.
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