Benzinga | Jul 7, 2021 12:48PM EDT

Nuvve To Help Electrify School Buses In San Diego And Durango

* Nuvve Holding Corp (NASDAQ:NVVE) has been selected as the energy technology provider to enable school districts and utilities in San Diego, California, and Durango, Colorado, to accelerate the electrification of school buses.

* By using Nuvve's V2G platform, schools and other fleet customers can realize cost benefits by allowing Nuvve to use the excess energy in their EVs to perform services that help stabilize the grid.

* "We're helping pave the way for more schools to rapidly electrify their fleets and for more regions to leverage EVs as distributed energy resources," said CEO Gregory Poilasne.

* Nuvve's new Vehicle-to-Grid projects with school districts and utilities will lower the electric school bus ownership costs.

* Price action: NVVE shares are trading higher by 0.15% at $13.08 on the last check Wednesday.