Nuvve Corporation, a San Diego, CA-based company focused on vehicle-to-grid (V2G) solutions, completed its Series A financing of undisclosed amount.
The round was led by two strategic investors, EDF Renewable Energy (EDF RE) and Toyota Tsusho Corporation (TTC), with additional participation from a private equity fund.
The company intends to use the funds to acquire full rights to the V2G intellectual property to accelerate the commercialization of its NUVVEgivesTM solutions.
Led by Gregory Poilasne, CEO, and Chief Technology Officer, Willett Kempton, PhD, Nuvve offers a commercially available V2G solution enabling select electric vehicles to store and resell energy to the electric grid. The NUVVEgives™ aggregation technology is a cloud connected application that ensures each vehicle has sufficient charge for its next trip before calculating how much remaining capacity is available to sell to the grid.