On Wednesday, Nuvve Holding Corp (NASDAQ:NVVE) announced that it showcased a breakthrough in AC V2G solutions at an exclusive event hosted by Exelon at the Delmarva Power New Castle Regional Office.

The event demonstrated Nuvve’s ability to provide scalable and practical solutions that meet the growing demand for grid-stabilizing technologies, a critical component for the global transition to clean energy.  

Nuvve deployed its 3-phase Nuvve PowerPort3 Ultra chargers, allowing Ford Mach-E EVs to deliver grid services while parked.

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This highlights the practical benefits of AC bidirectional power flow as defined by SAE J3068/2. The innovations align with stringent safety and regulatory requirements, setting Nuvve ahead of industry peers in terms of technological capability and compliance.

“The ability to harness EVs for grid support provides both revenue opportunities through energy markets and positions Nuvve as a key player in transforming the global energy landscape,” said Gregory Poilasne, CEO of Nuvve.

“Our leadership in this space continues to unlock new value for Nuvve as we pave the way for scalable V2G deployments worldwide.”  

According to Future Market Insights Inc., the global Vehicle-to-Grid (V2G) market will likely grow significantly, reaching $34.7 billion by 2034, with a compound annual growth rate (CAGR) of 22.7% from 2024 to 2034, the company said.

Nuvve can capture a significant market share through innovative, scalable solutions.  

Nuvve’s proprietary GIVe aggregator software plays a pivotal role in combining multiple EVs into a unified V2G power resource, ensuring the integration of EVs into the grid is seamless and efficient.

The project highlights Nuvve’s ability to scale, with significant opportunities for Nuvve and its customers to generate recurring revenue streams while contributing to grid stability.

Nuvve’s strategic leadership in complying with FERC Order 2222 further solidifies its position to capture value from distributed energy resources (DERs).

The event featured a demonstration led by Hamza Lemsaddek and Gregory Poilasne, showcasing how this AC V2G technology works in real-world conditions.

Price Action: NVVE stock traded higher by 8.33% to $5.33 at the last check on Wednesday.