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Nuvve, ComEd, and Resource Innovations Launch Pilot Partnership to Advance V2G Technology Using Electric School Buses

1. Nuvve collaborates with ComEd for a V2G pilot program using electric school buses. 2. The initiative targets grid stability and cost reduction for ComEd's 4.3 million customers. 3. Nuvve's V2G technology transforms vehicles into energy storage assets for peak energy usage. 4. Illinois aims for 1 million EVs by 2030, supporting clear demand for EV infrastructure. 5. ComEd's EV rebate programs have launched 3,500 charging ports and increased EV vehicles.

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FAQ

Why Bullish?

Nuvve’s advanced V2G technology and collaboration position it well in the growing EV market, mirroring past success seen in similar initiatives that boosted stock prices.

How important is it?

The partnership enhances Nuvve's visibility and could significantly impact future contracts and revenue, indicative of strategic industry movements.

Why Long Term?

The pilot program's outcomes may take time to materialize, impacting long-term adoption and relevance in clean energy markets.

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CHICAGO & SAN DIEGO & HALF MOON BAY, Calif.--(BUSINESS WIRE)--Nuvve Holding Corp. (Nasdaq: NVVE) today announced a new collaborative pilot program with Resource Innovations led by ComEd to explore the benefits of bidirectional charging using electric school buses within ComEd’s service area powering more than 4.3 million customers across northern Illinois. Scheduled to run through the end of Q4 2025, the initiative will assess the environmental, societal, and grid impacts of integrating vehicle-to-grid (V2G) technology into clean transportation. “Nuvve’s cutting-edge V2G technology transforms electric vehicles into reliable, dispatchable, and monetizable mobile energy storage assets, and our continued innovation—evidenced by our recent groundbreaking AC V2G project with Exelon—positions us at the forefront of this industry,” said Hamza Lemsaddek, Vice President of Technology and Astrea AI at Nuvve. “This pilot will evaluate the value electric school buses can deliver to ComEd and its customers.” The pilot will evaluate ways to deploy energy stored in the batteries of electric school buses to enhance grid stability and reduce energy costs. Three school districts, all of which are Nuvve customers within ComEd’s service area, are anticipated to join the pilot this year. This pilot in northern Illinois will help demonstrate the versatility of Nuvve’s V2G technology, offering the utility the opportunity to study how to harness energy stored in vehicle’s battery for use during peak times, and bolster energy efficiency for school districts and local communities. “ComEd is excited to launch the Vehicle-to-Grid pilot program in 2025 as we continue with our mission of delivering best in class reliability and customer solutions to advance the equitable adoption of EVs here in northern Illinois,” said Scott Vogt, Vice President of Strategy and Energy Policy for ComEd. “V2G is the next frontier in our work to support local school districts on developing plans that will help lower emissions, upgrade their fleets, and implement the benefits of EVs and their related infrastructure affordably. We look forward to working with Nuvve, Resource Innovations, and various stakeholders in the region to deploy new technologies that will help bring the environmental and economic benefits of electric school buses into more communities.” ComEd’s V2G pilot comes as part of the company’s Beneficial Electrification investments, setting forward a number of customer EV rebate and education programs and innovative pilots to help inform future planning and support a growing customer demand for EVs and their related infrastructure. ComEd’s EV programs include tens of millions in customer rebate programs aimed at lowering the upfront costs of charging infrastructure and fleet projects. Since last year, these programs have helped catalyze the addition of 3,500 EV charging ports across the region, and 200 added EV fleet vehicles, including numerous school buses. ComEd’s EV programs are mandated by the state of Illinois’ forward-looking Climate and Equitable Jobs Act (CEJA), which includes a goal of reaching 1 million EVs on the roads by 2030. With ComEd’s support powering the advancement of EVs, there are currently over 126,000 EVs in Illinois, more than double the number registered in 2022. “Resource Innovations brings its extensive expertise in sustainable energy solutions to this initiative,” said Kelly Helfrich, Vice President, Transportation Electrification Practice at Resource Innovations. “This three-way collaboration exemplifies our commitment to innovative, forward-thinking solutions that address today’s energy challenges while preparing for a more resilient and sustainable future.” This pilot, together with previous high-impact projects with Exelon, underscores a joint commitment to advancing clean energy solutions and transforming the role of electric vehicles in grid management. For more information on the pilot, visit ComEd’s Innovation Hub. About Nuvve Founded in 2010, Nuvve Holding Corp. (Nasdaq: NVVE) has successfully deployed vehicle-to-grid (V2G) on five continents, offering turnkey electrification solutions for fleets of all types. Nuvve combines the world’s most advanced V2G technology and an ecosystem of electrification partners, delivering new value to electric vehicle (EV) owners, accelerating the adoption of EVs, and supporting a global transition to clean energy. Nuvve is making the grid more resilient, transforming EVs into mobile energy storage assets, enhancing sustainable transportation, and supporting energy equity in an electrified world. Nuvve is headquartered in San Diego, California. About ComEd ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state's population. For more information visit ComEd.com, and connect with the company on Facebook, Instagram, LinkedIn, X, and YouTube. About Resource Innovations Resource Innovations (RI) is a women-led energy transformation firm focused on impact. Building on our expertise in energy efficiency, we’re constantly expanding our portfolio of clean energy solutions to guide utilities through increasingly complex, connected challenges. We are a portfolio company of Morgan Stanley Capital Partners. Visit resource-innovations.com to learn more about how we are accelerating the clean energy transition and leading the charge to power change.

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