Thursday, April 21, 2022

Nuuve In MOU With DOE On Vehicle-to-Grid Efforts

San Diego-based cleantech developer Nuvve Holding Corp., which is working on vehicle-to-grid (V2G) technology to store energy in things like bus fleets to help supply the grid in overnight hours with clean energy, said it has signed a Memorandum of Understanding (MOU) with the U.S. Department of Energy (DOE). The company said the MOU calls for it to government agencies, utilities, and electrification industry leaders to accelerate the commercialization of vehicle-to-grid (V2G), vehicle-to-building (V2B), vehicle-to-home (V2H), and other vehicle-grid integration (VGI) technologies. Financial details of the deal were not announced. The company said the DOE is working on an effort to allow electric vehicle fleets to incorporate bidirectional charging, allowing EV owners to send power back to the grid. Nuuve is one of a number of clean technology and other companies which are pre-product but who have gone public via special purpose acquisition companies (SPACs) in the last few years.