In the USA, the California-based V2G specialist Nuvve and private equity firm Stonepeak have formed a joint venture called Levo Mobility. In Europe, Nuvve and the provider of EV charging solutions Spirii will collaborate on vehicle-grid integration (VGI) technology, mostly in the Nordics.
Firstly, in the USA, the joint venture between Nuvve and Stonepeak aims to deploy zero-emission electric vehicles using ‘V2G hubs’ and Transportation as a Service ‘Taas’. With the signing of definitive documents for the new joint venture, Levo Mobility will utilise Nuvve’s proprietary V2G technology and Stonepeak’s capital to help accelerate the deployment of electric fleets, including what Nuvve says will be “thousands” of zero-emission electric school buses.
Stonepeak, along with its portfolio company Evolve Transition Infrastructure, plans to deploy up to an aggregate $750 million capital commitment to the Levo Mobility joint venture. The joint venture will initially focus on electrifying school buses and associated charging infrastructure plus V2G services in the USA. Levo Mobility also plans to work with commercial fleets such as last-mile delivery, ride-hailing and ride-sharing, and municipal services.
Beyond intelligent charging, Nuvve’s V2G platform allows EV batteries to store renewable energy such as solar and wind and safely discharge some of this stored energy back to the grid while parked and plugged in. Additionally, V2G allows EVs to earn revenue by combining energy from multiple batteries to form virtual power plants (‘VPPs’), access energy markets, sell energy back to the grid, and perform services that stabilise the grid.
Levo Mobility starts with electric school buses in the USA
The joint venture’s initial focus on school buses comes at a time when the Biden-Harris Administration has prioritised electrification of the 480,000 school buses in the U.S. through its Infrastructure Plan. US lawmakers recently announced a $25 billion bill to electrify school buses whereby school districts are seeking to convert to zero-emission vehicles to provide cleaner rides for students.
Gregory Poilasne, Chairman and CEO of Nuvve, said, “We are thrilled to be working with Stonepeak, a leading infrastructure investor with significant expertise investing in energy, transportation, and logistics.” The duo plans to enable school districts and other fleet operators to convert to electric vehicles. “At the same time, we are expanding the use of Nuvve’s V2G technology to lower the total cost of ownership for end-users,” Poilasne explains. “We look forward to working closely with the team at Stonepeak and our other partners in the EV ecosystem to continue delivering our technology and solutions to fleet customers, grid operators, electric utilities, and other stakeholders around the world.”
In November last year, the Californian Vehicle-to-Grid specialist Nuvve announced its intention to go public through a merger with the investment company Newborn Acquisition. Just two months before this, Nuvve and electric school bus manufacturer Blue Bird announced the launch of Blue Bird’s ‘Vision Type C’ and ‘All American Type D’ electric school buses compatible with Nuvve’s V2G technology across the USA.
Further expansion of V2G activities in Northern Europe
Over the Atlantic, Nuvve is entering similarly comprehensive infrastructure plans with EV charging solutions provider Spirii. Here, the two companies have agreed to deploy vehicle-grid integration (VGI) technology in Denmark and other countries in the Nordic and Northern European regions. The agreement will allow integration of both company’s platforms to provide V1G (unidirectional) grid services, and V2G (bidirectional) customer offers for electric vehicle fleets.
Until now, Nuvve says its operations in Denmark have utilised V2G operations in Europe with multiple EV fleets. Over the last four years, Nuvve has provided frequency regulation for Energinet, the Danish grid system operator, based on the Nuvve GIVe V2G software platform. The Californian company says its platform complements the high percentage of offshore wind generation produced in Denmark. The company also utilises services such as smart charging and tariff management to ensure that V2G always provides fleets with the lowest operational costs.
Nuvve says it has established strong local relationships in Denmark with the Technical University of Denmark (DTU), gained from participation in local projects with Nikola, Parker, and ACES. Here Nuvve says these projects have demonstrated the capabilities and advantages of bidirectional V2G charging since 2013.
“The partnership with Spirii is a strategic step to fulfil the rising demand for VGI solutions in Northern Europe,” says Mogens Løkke, Nuvve director of business development in the Nordics. “V2G is providing grid operators and energy retailers with precise solutions to anticipate the growth of electric vehicles. Spirii’s dynamism combined with Nuvve’s technology leadership will bring much-needed energy flexibility across the region.”
Already active elsewhere in Europe, in 2019, Nuvve founded a joint venture with Électricité de France (EDF) called DREEV for the development of V2G charging solutions. The focus is on the main European markets of France, Belgium, Italy and Great Britain. In 2018 the British government earmarked almost 10 million pounds for a large-scale vehicle-to-grid project whereby 1,000 V2G charging points were set up across the UK with Nissan, Nuvve, the National Grid as well as UK Power Networks and Northern Powergrid.