Market Opportunities and Growth - Nuvve's GIVe platform has generated approximately $2,800 per car per year in market revenue on average from V2G services in Denmark [23]. - The monthly electricity exchanges revenue per bid EV in Denmark peaked at $5,455 in 2022, with a forecast of $1,150 for 2024 [24]. - The global EV market is projected to reach 720 million vehicles by 2040, driving the need for extensive charging infrastructure [31]. - An estimated $150-200 billion in capital investments will be required to deploy over 13 million public chargers globally by 2030 [33]. - Nuvve anticipates tripling its charging station unit sales and doubling hardware revenues in 2025 compared to 2023 [52]. - The addressable energy and capacity markets for targeted grid services are estimated to range from $3 billion to $250 billion per year [47]. - Nuvve's strategy includes capturing opportunities in the North American school bus market, with approximately 600,000 buses needing replacement [52]. - Revenue generation is expected primarily from services provided via the GIVe software platform and sales of V2G-enabled charging stations, with potential recurring mobility fees from fleet customers [57]. - The company anticipates expanding revenues by selling EV charging equipment to various customers, including school bus operators and municipal locations [89]. Technology and Innovation - Nuvve's GIVe platform transforms EVs into reliable, dispatchable, and monetizable assets, addressing grid service demands [52]. - The company is investing in expanding the GIVe software platform and V2G service capabilities, focusing on research and development, marketing, and sales [58]. - The company is focused on developing V2G technology, which aims to balance energy demand for electric transportation and improve grid resiliency [104]. - The company must continue to innovate and develop new products to keep pace with rapid technological changes in the EV charging market, as delays could adversely affect market adoption [170]. - The company may need to upgrade or adapt its V2G technology and services due to changes in EV technologies, which could involve substantial costs [172]. Financial Performance and Challenges - The company has a history of net losses and expects losses to continue in the future, indicating challenges in achieving sustained profitability [125]. - The company incurred operating losses of approximately $20.5 million and $32.1 million for the years ended December 31, 2024 and 2023, respectively, with an accumulated deficit of approximately $165.6 million as of December 31, 2024 [126]. - The company expects to continue incurring significant costs, particularly in research and development and commercialization related to its GIVe platform, which may negatively impact short-term profitability [126]. - The company has not yet demonstrated a sustained ability to generate sufficient revenue from its technology and services, impacting its financial condition [125]. - The company may need to raise additional capital in the future, and there is uncertainty regarding the availability of funds on favorable terms [218]. Competition and Market Position - The company primarily competes with less advanced charge point operator platforms, such as ChargePoint and Blink [94]. - The company believes it is a "first-mover" in the V2G space, leveraging its patent portfolio and experience to capture significant market opportunities as fleet EVs increase [59][62]. - The company faces intense competition in the EV charging market, primarily competing with companies like ChargePoint and Blink, and anticipates increased competition as new entrants emerge [135]. - The company faces intense competition for qualified personnel, which could hinder its ability to execute its global business strategy [155]. Customer and Revenue Concentration - For the years ended December 31, 2024 and 2023, three customers accounted for 33.2% and 30.3% of total revenue, respectively [91]. - The company expects customer concentration to vary based on large orders, a trend anticipated to continue in the near term [92]. - A significant portion of revenue has historically been derived from government grant-funded projects to demonstrate V2G technology and services [90]. - Three customers accounted for 33.2% and 30.3% of total revenue for the years ended December 31, 2024 and 2023, respectively, indicating a reliance on a limited customer base [212]. Risks and Regulatory Environment - The company is subject to various risks, including competition in the EV charging market and the need for effective management of growth [113]. - The company may encounter significant costs and distractions from litigation related to intellectual property claims, impacting its financial condition [191]. - The company may face increased risks related to audits or examinations by taxing authorities due to its multinational operations [225]. - The company is highly dependent on key personnel, including the CEO and COO, and the loss of these individuals could adversely affect business operations [154]. - The company may need to borrow additional funds or equity securities to support operations if cash flow levels are not achieved, which may not be available on commercially reasonable terms [127]. Employee and Governance - The company offers a total rewards package to attract and retain highly skilled employees, including base salary, cash bonuses, and equity compensation [99]. - The company has implemented several safety programs to support the well-being of its employees, including an Employee Assistance Program [101]. - The company has a corporate governance structure that includes independent directors, ensuring compliance with Nasdaq's listing standards [103]. Environmental and Social Responsibility - The company is committed to environmental sustainability and aims to mitigate the negative impact of its operations [104]. - The company continues to advocate for policies that support electric mobility and reduce barriers to V2G-capable infrastructure deployment [60].

Revenue and Financial Performance - Total revenue for Q4 2024 was $1.79 million, flat compared to $1.64 million in Q4 2023[4] - Total revenue for Q4 2024 was $1,786,075, a 8.6% increase from $1,644,677 in Q4 2023[22] - The company reported a total comprehensive loss of $5,126,469 for Q4 2024, compared to a loss of $7,330,103 in Q4 2023, reflecting a 30.1% improvement[24] - Net loss decreased by $2.2 million to $5.1 million in Q4 2024, compared to a net loss of $7.3 million in Q4 2023[9] - Net loss for Q4 2024 was $5,098,817, compared to a net loss of $7,319,240 in Q4 2023, representing a 30.3% improvement[22] - The net loss for 2024 was $17,426,412, a significant improvement from the net loss of $31,296,787 in 2023, representing a reduction of approximately 44%[26] - Operating loss for the year 2024 was $20,460,431, down from $32,105,275 in 2023, indicating a 36.3% reduction[22] Expenses and Cost Management - Operating expenses, excluding cost of sales, decreased by $2.0 million to $5.9 million in Q4 2024, down from $7.9 million in Q4 2023[3] - Research and development expenses decreased by 61.3% to $0.8 million in Q4 2024, down from $2.0 million in Q4 2023[7] - Selling, general and administrative expenses decreased by 13.7% to $5.1 million in Q4 2024, compared to $5.9 million in Q4 2023[6] - Research and development expenses for Q4 2024 were $767,558, a decrease of 61.3% from $1,981,189 in Q4 2023[22] - The company reported a depreciation and amortization expense of $337,971 in 2024, down from $396,210 in 2023, a decrease of approximately 15%[26] Assets and Liabilities - Total assets decreased to $16,797,812 in 2024 from $20,950,506 in 2023, a decline of 19.7%[20] - Total liabilities increased to $18,087,459 in 2024 from $13,960,043 in 2023, an increase of 29.5%[20] - Cash and cash equivalents decreased significantly to $371,497 in 2024 from $1,534,660 in 2023, a drop of 75.8%[20] - Accounts receivable increased to $2,148,198 in 2024 from $1,724,899 in 2023, an increase of 24.6%[20] Cash Flow and Financing - Net cash used in operating activities decreased to $15,734,334 in 2024 from $21,254,328 in 2023, indicating a 26% improvement[26] - Cash and restricted cash at the end of 2024 was $691,497, down from $2,014,660 at the end of 2023, reflecting a decrease of 66%[26] - The company raised $8,502,086 from common stock offerings in 2024, compared to $884,586 in 2023, marking an increase of over 867%[26] - The net cash provided by financing activities in 2024 was $14,462,917, a substantial increase from $5,862,746 in 2023, reflecting enhanced financing efforts[26] Operational Metrics - Customer backlog exceeded $18 million at the start of 2025, supporting growth prospects[3] - Megawatts under management increased by 22.3% to 30.7 megawatts as of December 31, 2024[3] - Cost of product and service revenues increased by 28.8% to $1.5 million in Q4 2024, up from $1.2 million in Q4 2023[5] - Other income (expense) shifted from $0.13 million of income in Q4 2023 to $0.52 million of expense in Q4 2024[8] - Inventory increased by $1,297,551 in 2024, contrasting with a decrease of $5,445,390 in 2023, indicating a shift in inventory management strategy[26] - The change in fair value of warrants liability resulted in a gain of $3,263,697 in 2024, compared to a loss of $216,263 in 2023[26] - The effect of exchange rate on cash resulted in a loss of $6,351 in 2024, compared to a gain of $35,624 in 2023, indicating potential currency risk[26] Ownership and Acquisitions - Nuvve became the 100% owner of Levo after acquiring the remaining 49% membership interest in October 2024[12] Shareholder Information - The weighted-average shares used in computing net loss per share increased to 881,144 in Q4 2024 from 107,711 in Q4 2023[22]

Core Viewpoint - Nuvve Holding Corp. will provide an update on its financial results for the fourth quarter ended December 31, 2024, during a conference call scheduled for March 31, 2025 [1][2]. Company Overview - Nuvve is a global technology leader focused on accelerating the electrification of transportation through its proprietary vehicle-to-grid (V2G) platform [3]. - The company's mission is to reduce the cost of electric vehicle ownership while facilitating the integration of renewable energy sources such as solar and wind [3]. Conference Call Details - The conference call will take place at 5:00 PM Eastern Time (2:00 PM PT) on March 31, 2025, and will cover financial results and other company developments [2]. - Participants can register and listen to the call via a live webcast available on Nuvve's investor relations website, with a replay accessible for future reference [2].

Core Points - Nuvve Holding Corp. has scheduled a Special Meeting of Stockholders on January 13, 2025, at 1:00 p.m. Eastern Time [1] - The record date for the Special Meeting is December 6, 2024 [2] - Shareholders are encouraged to vote their proxies and read the definitive proxy statement filed with the SEC on December 16, 2025 [3] Company Overview - Nuvve is a global technology leader focused on accelerating the electrification of transportation through its proprietary vehicle-to-grid (V2G) platform [4] - The company's mission is to reduce the cost of electric vehicle ownership while facilitating the integration of renewable energy sources such as solar and wind [4]

Group 1 - Nuvve Holding Corp. held a conference call on November 12, 2024, to discuss its financial results for Q3 2024 and other company developments [1] - The conference call replay is available on Nuvve's investor relations website for future access [1] - Nuvve is a global technology leader focused on accelerating the electrification of transportation through its proprietary vehicle-to-grid (V2G) platform [2] Group 2 - The company's mission is to lower the cost of electric vehicle ownership while supporting the integration of renewable energy sources such as solar and wind [2] - Nuvve provides contact information for investor and press inquiries, indicating a commitment to transparency and communication [2]

Financial Data and Key Metrics Changes - In Q3 2024, total revenues were $1.9 million, up from $0.8 million in Q2 2024 but down from $2.7 million in Q3 2023, indicating a quarter-over-quarter increase of $1.1 million driven by service revenues and hardware revenue [10][11] - Year-to-date revenues through September 30, 2024, were $3.5 million, a decline of $3.2 million compared to $6.7 million in the prior year period, primarily due to reduced charger hardware sales and non-recurring EV bus sales [11] - Gross margins improved to $1 million in Q3 2024 from $0.3 million in Q3 2023, with year-to-date gross margins at $1.5 million compared to $0.9 million last year, attributed to better pricing and a higher mix of service revenues [12][16] Business Line Data and Key Metrics Changes - The school bus business is seeing a recovery after a slow start, with revenue expected to benefit from EPA funding in Q4 but anticipated to slide into 2025 [5] - Revenue recognition from the Fresno EOC project began in Q3, contributing significantly to cash flow and establishing a revenue baseline for 2025 [6] - The hardware and service backlog decreased to $17.5 million from $18.2 million at the end of Q2 2024, but increased significantly from $3.9 million at the end of 2023, driven by the Fresno hub project [21] Market Data and Key Metrics Changes - Megawatts under management increased by 7.7% from Q2 2024 to 29.2 megawatts, a 37.3% increase compared to Q3 2023, indicating growth in both stationary batteries and EV chargers [20] - The company is actively engaging in multiple projects in Taiwan and the U.S., with a focus on public infrastructure and energy cost savings for EV drivers [7][8] Company Strategy and Development Direction - The company is positioning its GIVe platform as a key tool for grid modernization, emphasizing the importance of renewable generation and storage mandates in the U.S. and Europe [9][24] - Management is focused on diversifying revenue sources and improving cash management, with personal support from executives during challenging periods [23] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges faced in Q3 2024 but viewed it as a turning point, with significant projects closing and revenue certification for 2025 [23] - The company anticipates further growth in megawatts under management and improved cash burn due to lower operating costs and enhanced gross margins [21][24] Other Important Information - The company reported a net loss of $1.6 million in Q3 2024, a significant improvement from a net loss of $8.6 million in Q3 2023, driven by higher gross margins and lower operating expenses [16] - Cash as of September 30, 2024, was approximately $0.3 million, reflecting a decrease due to operating losses and negative working capital, but was bolstered by cash received from short-term promissory notes [17] Q&A Session Summary - No specific questions or answers were documented in the provided content, indicating that the call concluded without a Q&A segment [25][26]

Revenue Performance - Total revenue for Q3 2024 was $1.92 million, a decrease of 29% compared to $2.71 million in Q3 2023[214]. - Revenue from products dropped by 69% to $543,834 in Q3 2024, down from $1.77 million in Q3 2023[214]. - Revenue from services increased by 46% to $1.27 million in Q3 2024, compared to $866,477 in Q3 2023[214]. - Total revenue for Q3 2024 was $1.92 million, a decrease of $0.79 million or 29.3% compared to Q3 2023, primarily due to a $1.23 million decrease in product revenue[216]. - For the nine months ended September 30, 2024, total revenue was $3.5 million, down $3.2 million or 47.7% from $6.7 million in the same period of 2023, mainly due to a $3.4 million decrease in product revenue[217]. Operating Loss and Expenses - Operating loss for Q3 2024 was $1.84 million, an improvement of 78% from an operating loss of $8.46 million in Q3 2023[214]. - Total operating expenses decreased by 66% to $3.76 million in Q3 2024, down from $11.18 million in Q3 2023[214]. - Selling, general and administrative expenses for Q3 2024 were $2.1 million, a decrease of $4.4 million or 67.2% compared to Q3 2023[220]. - Research and development expenses decreased by $1.6 million or 69.0% for Q3 2024, totaling $0.7 million compared to $2.3 million in Q3 2023[224]. Net Loss - Net loss attributable to Nuvve Holding Corp. for Q3 2024 was $1.65 million, a reduction of 80% from $8.34 million in Q3 2023[214]. - Net loss for Q3 2024 decreased by $6.7 million or 80.2%, amounting to $1.6 million compared to $8.3 million in Q3 2023[228]. - Net loss for the nine months ended September 30, 2024, was $12.3 million, a decrease of $11.6 million or 48.6% from $24.0 million in the same period of 2023[229]. Cash and Financing Activities - As of September 30, 2024, the company had a cash balance of $0.3 million and total equity of $3.0 million[234]. - The company completed a public offering on February 2, 2024, raising approximately $9.6 million before expenses[236]. - The Company raised $11.1 million in net cash from financing activities for the nine months ended September 30, 2024, compared to $3.2 million for the same period in 2023[257]. - Cash used in operating activities for the nine months ended September 30, 2024, was $12.2 million, an increase from $6.2 million in the prior year[255]. Debt and Loan Information - The Term Loan originated on August 9, 2024, with a principal amount borrowed of $1,000,000 and a maturity date of March 6, 2025[246]. - Weekly principal and interest payments of $50,750 are due on the Term Loan for thirty weeks, totaling expected interest of $522,501 over the loan period[246]. - Interest expense paid on the Term Loan for the nine months ended September 30, 2024, was $219,159, compared to no interest expense for the same period in 2023[247]. - Total outstanding principal balance as of September 30, 2024, is $2,504,063, with total debt net of current portion at $100,000[249]. Strategic Initiatives - The company expects growth in company-owned charging stations and related government grant funding to continue, although these projects will constitute a declining percentage of future business[200]. - A master services agreement was signed with Fresno Economic Opportunities Commission for a fleet electrification program, covering design and construction of a parking lot and electrification system[241][242]. - Total estimated fees and expenses payable to the Company by Fresno EOC for services related to the Project is approximately $15.7 million[243]. - The Company formed Levo to accelerate the deployment of electric fleets with conditional capital commitments of $750 million from Stonepeak and Evolve[252]. - On October 15, 2024, the Company acquired a 100% ownership of Levo by purchasing the 49% membership interest from Stonepeak and Evolve[253]. Company Classification - The Company is classified as an emerging growth company and intends to rely on the exemptions provided by the JOBS Act until certain conditions are met[265].

Financial Performance - Total revenue for Q3 2024 was $1.92 million, a decrease of $0.79 million or 29.3% compared to $2.71 million in Q3 2023[4] - Net loss decreased by $6.7 million, or 80.2%, from $8.3 million in Q3 2023 to $1.6 million in Q3 2024[10] - Total revenue for the three months ended September 30, 2024, was $1,918,218, a decrease from $2,712,572 in the same period last year, representing a decline of approximately 29.3%[23] - Net loss for the three months ended September 30, 2024, was $(1,649,843), compared to a net loss of $(8,333,345) for the same period in 2023, indicating an improvement of approximately 80.2%[23] - Operating loss for the nine months ended September 30, 2024, was $(14,848,090), a reduction from $(24,657,090) for the same period in 2023, showing an improvement of about 39.9%[23] - The net loss for the nine months ended September 30, 2024, was $12,327,595, an improvement from a net loss of $23,977,547 in the same period of 2023, representing a reduction of approximately 48%[27] Operating Expenses - Operating expenses excluding cost of sales were reduced by $5.9 million to $2.8 million in Q3 2024, a decrease of 67.2% compared to $6.5 million in Q3 2023[6][10] - Research and development expenses decreased by $1.6 million, or 69.0%, from $2.3 million in Q3 2023 to $0.7 million in Q3 2024[8] - The company reported total operating expenses of $3,755,059 for the three months ended September 30, 2024, compared to $11,175,892 for the same period in 2023, a reduction of approximately 66.5%[23] - Stock-based compensation decreased to $1,991,884 from $3,197,471, a reduction of approximately 38%[27] - The company reported a depreciation and amortization expense of $254,275, up from $237,043 in the previous year, marking an increase of about 7%[27] - The company reported a noncash lease expense of $223,892, down from $355,133, representing a decrease of about 37%[27] Assets and Liabilities - Total current assets decreased to $10,400,439 as of September 30, 2024, down from $12,520,751 as of December 31, 2023, reflecting a decline of about 16.9%[21] - Total liabilities increased to $15,330,160 as of September 30, 2024, compared to $13,960,043 as of December 31, 2023, marking an increase of approximately 9.8%[21] - The total stockholders' equity as of September 30, 2024, was $3,004,987, down from $6,990,463 as of December 31, 2023, reflecting a decrease of about 57.0%[21] Cash Flow - Cash and cash equivalents decreased significantly to $325,245 as of September 30, 2024, down from $1,534,660 as of December 31, 2023, a decline of approximately 78.8%[21] - Net cash used in operating activities increased to $12,242,822 compared to $6,200,232 in the prior year, indicating a rise of about 97%[27] - Cash and restricted cash at the end of the period was $805,245, down from $14,344,646 at the end of the previous year, reflecting a decrease of approximately 94%[27] - Net cash provided in financing activities was $11,085,523, significantly higher than $3,226,403 in the same period last year, indicating an increase of approximately 243%[27] Business Developments - The company launched its first V2G-capable electric school bus deployment in New Mexico[2] - The company unveiled groundbreaking AC V2G technology at an Exelon event in Delaware[2] - The company partnered with WISE EV to create public EV charging station infrastructure in select markets[2] - The company became the 100% owner of Levo after acquiring a 49% membership interest from Stonepeak and Evolve[12] Management of Resources - Megawatts under management increased by 16.3% to 29.2 megawatts as of September 30, 2024, up from 25.1 megawatts as of December 31, 2023[2] - Products and services margin increased by 40.2% to 49.3% in Q3 2024, compared to 9.0% in the same prior year period[5] - The company experienced a change in fair value of warrants liability, resulting in a loss of $2,642,424 compared to a loss of $144,609 in the previous year[27] - The company had a significant change in accounts receivable, with a positive adjustment of $56,361 compared to a negative adjustment of $1,547,575 in the prior year[27]

Core Insights - Nuvve Holding Corp. reported a decrease in total revenue for Q3 2024, amounting to $1.92 million, down 29.3% from $2.71 million in Q3 2023, primarily due to a decline in product sales orders and shipments [4][3] - The company launched its first V2G-capable electric school bus in New Mexico and unveiled new AC V2G technology, indicating progress in its technology deployment [2][3] - Nuvve's management expressed optimism about continued revenue improvements into Q4 2024, attributing this to better expense controls and operational efficiencies [3] Financial Performance - Total revenue for Q3 2024 was $1.92 million, a decrease of $0.79 million from the previous year [4] - Products revenue decreased by $1.23 million, while services revenue increased by $0.4 million [4] - Operating expenses, excluding cost of sales, were reduced by $5.9 million to $2.8 million compared to Q3 2023 [4] - The net loss for Q3 2024 was $1.6 million, down 80.2% from $8.3 million in Q3 2023 [4][5] Operational Highlights - Nuvve increased megawatts under management by 16.3% to 29.2 megawatts as of September 30, 2024, from 25.1 megawatts at the end of 2023 [2] - The company partnered with WISE EV to enhance public EV charging infrastructure in select markets [2] - Selling, general, and administrative expenses decreased by 67.2% to $2.1 million in Q3 2024 [4] Strategic Developments - Nuvve became the 100% owner of Levo after acquiring the remaining 49% membership interest from Stonepeak and Evolve [6] - The company continues to focus on its vehicle-to-grid (V2G) technology, which allows EV batteries to store and resell unused energy back to the grid [1][9]

Core Viewpoint - Nuvve Holding Corp. is set to provide an update on its third quarter 2024 financial results and company developments during a conference call scheduled for November 12, 2024 [1][2]. Group 1: Company Overview - Nuvve is a green energy technology company that specializes in vehicle-to-grid (V2G) technology, allowing electric vehicle (EV) batteries to store and resell unused energy back to the local electric grid [1][3]. - The company's mission focuses on reducing the cost of electric vehicle ownership while facilitating the integration of renewable energy sources such as solar and wind [3]. Group 2: Conference Call Details - The conference call will take place at 5:00 PM Eastern Time (2:00 PM PT) on November 12, 2024, and will be accessible via a live webcast on Nuvve's investor relations website [2]. - A replay of the conference call will be available for future access [2].