Fermata Energy may be taken over by Nuvve

The bidirectional charging company Fermata Energy is in dire straits: It has already laid off most of its staff, and talks have been launched with the rival company Nuvve over a potential takeover.

Fermata Energy, a developer of bidirectional charging tech for electric vehicles, has laid off most of its staff and entered into talks to be acquired by rival Nuvve, a source familiar with the situation told the journal Axios.

The reason why Nuvve intends to take over Fermata is that the company is interested in acquiring Fermata’s software, as the Axios source explained: “They’re focused on the core IPs. Fermata clearly wasn’t going to sell its way out of this moment. So it trimmed the sails and they’re doing more of an IP-based merger.”

Nuvve has responded to the allegations denying anything firm: “We do not currently have any deal with Fermata,” said Nuvve CEO Gregory Poilasne, adding: “We are in talks with a number of companies that are in various stages of development. But we can’t comment on any discussions we are having with these potential companies until they are finalized.”

Fermata did not respond to a comment request. We last reported on Fermata Energy when Nissan USA approved an enhanced Fermata Energy bidirectional charger for use with the Nissan Leaf last summer. A V2G project was announced in California earlier in the year.

axios.com (paywall)