US vehicle-to-grid (V2G) tech startup Nuvve has revealed stationary storage projects and partnerships in Asia, North America and Europe as the company broadens its focus.
Earlier this week (6 January), San Diego, California-headquartered Nuvve announced that its subsidiary in Japan has secured rights to install and operate a 2MW/8MWh grid-scale battery energy storage system (BESS).
Nuvve will deploy a system provided by Sungrow for its 4-hour duration project in Oyada, Mino City in Japan’s Gifu Prefecture, with a targeted commercial operation date of November 2026. It’s the third BESS project Nuvve has contracted for in Japan so far, with a total output of 6MW, including the new project in Gifu.
Just before the end of the year, on 30 December, the company said a local subsidiary in New Mexico had been selected by municipal electricity supplier Kit Carson Electric Cooperative to deploy and operate two 4-hour duration BESS projects in the US state, each of 5MW/20MWh.
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A week earlier, Nuvve had revealed a non-binding agreement via a memorandum of understanding (MoU) with Denmark-based renewables developer E&B Renewables for projects in European Nordic and Baltic countries, ranging from 2MW to 100MW in output to the grid.
That partnership, which builds on a collaboration framework signed by the pair in November, will kick off with three Danish projects, each of 2MW and undisclosed megawatt-hour capacity.
Nuvve emphasised BESS strategy in Q3 earnings call and shareholder letter
As reported by our colleagues at Electric Vehicle Infrastructure News (EVIN) on 19 December, Nuvve’s company leadership sent a letter to shareholders last month, informing them that it is expanding its focus on stationary BESS and microgrid technologies.
The move to make stationary batteries a “larger portion” of its business in the three global regions was signposted earlier in the company’s Q3 2025 earnings call. At that time, Nuvve reported a 20% decline in year-to-date revenues versus 2024 figures and losses widening year-over-year from US$1.2 million in Q3 2024 to US$4.8 million in Q3 2025.
As noted by EVIN, the shift echoes moves by other companies in the e-mobility sector, particularly, but not limited to, the US, where EV demand growth has slowed in the past year.
Nuvve’s Grid Integrated Vehicle (GIVe) energy management technology platform was developed to facilitate the aggregation of EV batteries to provide grid services. Its business model in that space has seen it work with the likes of electric school bus fleet operators in California that have been enrolled in utility demand response programmes.
As of the end of Q3, Nuvve had 26.4MW of bidirectional EV charger power capacity under management and 200kWh of stationary storage batteries.
Aggregation platform and BaaS business models enabling diverse applications and ownership structures, company claims
In its Japan project announcement, Nuvve claimed its aggregation platform equipped with proprietary AI would provide market forecasting and automated bidding to optimise the asset’s participation across the country’s merchant market opportunities, which include the Japan Electric Power Exchange (JPEX) wholesale trading and frequency response ancillary services markets.
In New Mexico, it would deploy the 40MWh of systems through the company’s recently launched battery-as-a-service subscription business model, which offers customers access to battery storage capacity at no upfront cost.
The BESS assets will provide peak load mitigation, resiliency and wholesale market participation through the Western Energy Imbalance Market (WEIM). They will also be capable of grid-forming and black start functions for Kit Carson Electric Cooperative’s grid, and provide backup for critical community infrastructure, like healthcare facilities.
The New Mexico deal comes after Nuvve was the only bidder awarded a contract in March 2025 through ‘Electrify New Mexico’, a request for proposal (RFP) held by the US state’s government to find partners for EV charging and other electrification solutions. This is in support of a New Mexico zero emissions vehicle mandate, but also includes the right for Nuvve to deploy stationary storage and the startup claimed the total value of the opportunity could be as much as US$400 million over four years.
Meanwhile, in the Nordic and Baltic states, Nuvve highlighted that current market conditions are seeing BESS assets earn between US$340,000 and US$570,000/MW-year in revenues, with opportunities extending to multiple value streams beyond the currently lucrative ancillary services markets over their expected 15-year lifetimes.
That said, Nuvve had previously announced deals in the Nordic and Japanese markets in 2023 that do not yet appear to be included in its most recent asset under management figures.
In June of that year, the company said it would manage 40MW of fast EV chargers and around 1MW to 2MW of battery storage capacity in frequency regulation markets in Norway and Denmark for roadside services operator Circle K. In December 2023, Nuvve said it had been selected by Japanese partners Toyota Tsusho and Chubu Electric Power Miraiz to manage grid-connected battery storage with a combined capacity of 30MWh. Nuvve had previously participated in a V2G pilot in Japan in 2020 with the same partners.
Nuvve has also formed a joint venture (JV) in South Korea to participate in the country’s ongoing 2025 Second-Round Central ESS Auction with South Korean company Volt. The pair registered for the auction in early December, and award announcements are expected in February.
