Key Terms



battery energy storage system (bess)

technical

A battery energy storage system (BESS) is a large-scale setup that stores electricity in rechargeable batteries and releases it when needed, like a giant rechargeable battery for the power grid. It matters to investors because it helps smooth out supply and demand, capture surplus renewable power, provide backup and short-term grid services that can earn recurring revenue, and can boost the value of generation and transmission assets as demand for flexible energy grows.



bess

technical

BESS stands for Battery Energy Storage System, a technology that stores electricity for later use. Think of it as a large rechargeable battery that can hold excess power generated during times of low demand and release it when usage is high, helping balance supply and demand. This is important for investors because it supports the stability of energy grids, enables the integration of renewable sources, and can create new opportunities for profitability in the energy market.



operations and maintenance (o&m)

technical

Operations and maintenance (O&M) are the routine tasks and services needed to keep a physical asset or facility running reliably, such as staffing, inspections, repairs, spare parts, utilities and regulatory compliance. For investors, O&M determines the ongoing cash cost, affects how long the asset lasts and how often it breaks down, and therefore directly influences operating profit, cash flow forecasts and the risk of unexpected expenses—like regular car servicing that prevents costly roadside failures.



front-of-the-meter projects

technical

Large energy installations—such as utility-scale solar farms, wind parks, or grid batteries—connected directly to the public electricity grid rather than to an individual building’s meter. Think of them as a central power plant or neighborhood substation serving many customers at once; they matter to investors because their revenue comes from long-term contracts, capacity payments or wholesale electricity markets and they are shaped by regulation, grid needs and predictable operating scales.












04/21/2026 – 09:00 AM

TOKYO & SAN DIEGO–(BUSINESS WIRE)–
NUVVE JAPAN K.K. (“NVJ”), the Japanese subsidiary of Nuvve Holding Corp. (Nasdaq: NVVE), announced today that it has successfully reached its second financial milestone for the 2MW / 8MWh Battery Energy Storage System (BESS) project in Mino City, Gifu Prefecture.

Following the definitive sales agreement announced in March, NVJ has received a second payment of ¥200 million ($1.29 million). This follows the initial deposit of ¥143.91 million, bringing the total capital received to date to approximately 66% of the total contract value of ¥520 million ($3.35 million).

The receipt of this second payment signals the successful completion of the procurement phase and the transition into the primary installation stage. NVJ confirms that the project remains firmly on track for its anticipated operational debut in the fourth quarter of 2026.

“The timely receipt of this second milestone payment underscores the confidence our partners have in Nuvve’s delivery capabilities,” said Masa Higashida, CEO of Nuvve Japan. “Our engineering teams are moving forward with site preparations in Mino City to ensure this high-capacity, four-hour discharge system is ready to support the Japanese grid by the end of the year.”

Once operational, the facility will be integrated into the Nuvve GIVe™ platform. This sophisticated aggregation software will allow the Mino project to participate in:

The Supply and Demand Adjustment Market: Providing high-precision frequency regulation.

JEPX (Japan Electric Power Exchange): Optimizing energy arbitrage and wholesale trading.

By maintaining the Operations and Maintenance (O&M) and aggregation services, NVJ ensures a long-term partnership with the asset owner, generating recurring revenue while contributing to the stability of the regional energy infrastructure in Gifu Prefecture.

Updated Project Timeline and Financials

Milestone

Status

Amount (JPY)

Contract Execution / Deposit

Completed (March 2026)

¥143,910,000

Second Milestone Payment

Completed (April 17, 2026)

¥200,000,000

Site Commissioning

Scheduled (Q3/Q4 2026)

Remaining Balance

Full Operational Status

Expected (Q4 2026)

N/A

NVJ continues to pursue additional front-of-the-meter projects across Japan, leveraging this 2MW/8MWh blueprint to assist domestic enterprises and local governments in meeting the nation’s 2030 carbon neutrality targets.

About NUVVE JAPAN K.K.

As the Japanese arm of Nuvve Holding Corp.—the first company to commercialize V2G technology globally—NUVVE JAPAN provides advanced energy management solutions that integrate electric vehicles (EVs) and stationary storage batteries with the power grid.

About Nuvve Holding Corp.

Nuvve powers the future of flexible energy by turning batteries, electric vehicles (EV), buildings, and distributed assets into dynamic grid resources. At the core is Nuvve’s advanced platform for intelligent energy management and vehicle-to-grid (V2G), orchestrating real-time bidirectional charging, load optimization, and grid services. By harnessing an ecosystem of electrification partners, fleets, stationary storage, and smart EV chargers, Nuvve helps utilities and communities unlock flexibility at scale — enhancing reliability, accelerating electrification, and lowering costs. Nuvve enables a clean energy future where mobility, buildings, and infrastructure work together to support a more resilient, sustainable, and equitable grid. Headquartered in San Diego, California, Nuvve operates globally and online at nuvve.com.

Forward-Looking Statements

This press release contains forward-looking statements or forward-looking information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of forward-looking terms such as “may,” “will,” “expects,” “believes,” “aims,” “anticipates,” “plans,” “looking forward to,” “estimates,” “projects,” “assumes,” “guides,” “targets,” “forecasts,” “continue,” “seeks” or the negatives of such terms or other variations on such terms or comparable terminology, although not all forward-looking statements contain such identifying words. Forward-looking statements include, but are not limited to, statements regarding the expected timing of recently announced projects, anticipated growth of various business areas, and other statements that are not historical facts. Nuvve cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Nuvve. Such statements are based upon the current beliefs and expectations of management and are subject to significant risks and uncertainties that could cause actual outcomes and results to differ materially. Some of these risks and uncertainties can be found in Nuvve’s most recent Annual Report on Form 10-K and subsequent periodic reports filed with the Securities and Exchange Commission (SEC). These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in the Nuvve’s filings with the SEC. Such forward-looking statements speak only as of the date made, and Nuvve disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers of this press release are cautioned not to place undue reliance on these forward-looking statements, since there can be no assurance that these forward-looking statements will prove to be accurate. This cautionary statement is applicable to all forward-looking statements contained in this press release.

Media Contact:

Paulo Acuña

pacuna@olmsteadwilliams.com

310.824.9000

Source: NUVVE JAPAN K.K.