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Benzinga
Benzinga
Business
Shivani Kumaresan

Nuvve Invests In Switch: All You Need To Know

  • Nuvve Holding Corp (NASDAQ:NVVE) has made a strategic investment in Switch, a provider of electric charging management and maintenance software. The financial terms were not disclosed.
  • The investment expands the electric vehicle service equipment network, leading to increased Megawatts Under Management.
  • Under the agreement, the parties will integrate Nuvve's vehicle-to-grid (V2G) GIVe platform with Switch's charging management platform for operations and maintenance (O&M).
  • The integration, scheduled to be completed by late Q1 2023, will improve interoperability among critical electrified transportation components, including charging stations, EVs, and the grid.
  • "With Nuvve's strategic investment, Switch has completed its initial fundraising objectives. Other investors have included Link Capital of Norway, two family offices and private individuals," said Marc Mültin, founder and CEO at Switch.
  • Price Action: NVVE shares are trading lower by 1.11% at $5.36 on the last check Tuesday.
  • Photo Via Company
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