SAN DIEGO and HSINCHU, Taiwan (Jan. 30, 2024) —Nuvve Holding Corp. (Nasdaq: NVVE), in collaboration with e-Formula is launching V2G hub project in Taiwan.
Nuvve Holding Corp is a San Diego-based company that specializes in vehicle-to-grid (V2G) technology and grid services. The company is focused on providing solutions for the energy grid by enabling electric vehicles to store and discharge energy, thereby supporting the grid’s stability and sustainability. This approach can help utilities manage peak energy demand and integrate renewable energy sources more effectively. (~Merlin)
e-Formula is a system integration company based in Taiwan, specializing in renewable energy system integration, telecom solutions, and AIoT services. It is known for its expertise in microgrid management and battery technologies, would serve as the project lead for this 95 EV V2G Hub project. Nuvve is expected to be the technical project manager and service provider. Nuvve currently anticipates completion of contract negotiation for this project in March. Underlying business assumptions allow for Nuvve to deploy a mix of unidirectional and bidirectional charging stations ranging from 11kW to 150kW. Nuvve will contract with Taipower to compensate for grid services. Nuvve will facilitate this compensation through the combination of EVSEs, while e-Formula will provide stationary storage. By combining Nuvve’s world-class V2G technology with e-Formula’s extensive experience in energy solutions, this project would set a new standard for sustainable urban transit.
Gregory Poilasne, CEO of Nuvve, expressed his enthusiasm: “This project is not just a milestone for Nuvve and e-Formula but a leap forward for Taiwan’s EV infrastructure. Our GIVe™ platform stands at the heart of this endeavor. It showcases the immense potential of V2G technology in revolutionizing energy management and EV integration. We are eager to work together in support of the important efforts already underway in Taiwan to combat air pollution.”
“This project marks our second V2G Hub win since the beginning of 2024. It serves as a testament to our strong forward momentum and our role as a partner of choice,” Poilasne continued. “We look forward to collaborating with e-Formula on this effort and to the many future V2G projects we see on the horizon as we continue to win.”
Nuvve plans to leverage its acclaimed GIVe™ platform to manage the V2G and V1G chargers, Solar PV Systems, and Battery Energy Storage Systems (BESS). Its proprietary platform is key to providing advanced grid services, including dynamic power management between EV batteries and the grid.
e-Formula contributes invaluable experience gained through its participation in high-profile projects such as Chiayi Xinyi, the first service station to operate solely on 100% renewable energy in Taiwan. Project Tainan Qianfeng is another notable endeavor, showcasing a 100% renewable energy service station with multi-source energy storage integration. Additionally, project Hualien Guangfu stands out, featuring a service station with energy storage mobility designed for emergency rescue situations.
Taiwan Power Company (TPC) has allocated land in Zhongxiao Road, Hsinchu, for the development of a state-of-the-art smart parking structure. Anticipate this facility to include 325 parking spaces, with some featuring a mix of V2G and V1G charging stations. This underscores Taiwan’s commitment to sustainable energy and smart infrastructure development.
The V2G Hub project is expected to offer numerous benefits, including:
- EV charging facilities for the Hsinchu metro area.
- Advanced infrastructure for electric vehicle and EVSE certification by Taipower.
- Generation of valuable real-time market data for policymakers and the Taiwanese government.
- Utilization of green energy from solar and battery storage for charging services.
- Involvement of RACEV (Taiwan-based electric bus OEM/operator), with its advanced eBus/eCoach fleet powered by Nuvve’s V2G solution.
- An intuitive mobile app for EV owners to manage parking and charging spaces.
Upon successfully negotiating a final contract, the project intends to span over 20 years and has the potential to become a benchmark in the industry. It would combine Nuvve’s world-class V2G technology with e-Formula’s extensive experience in energy solutions. This collaboration aims to set a new standard for sustainable urban transit.
News related to Nuvve –
