California's Orange Unified School District marked Nuvve's latest milestone as the district continues to replace its fleet of diesel school buses with zero-emission Blue Bird ESBs

SAN DIEGO, Jan. 31, 2024 /PRNewswire/ -- Nuvve Holding Corp. (Nasdaq: NVVE), a global technology leader accelerating the electrification of transportation through its proprietary vehicle-to-grid (V2G) platform, celebrated the 500^th electric school bus EVSE to be deployed which will be managed through its proprietary GIVe™ bidirectional, smart-charging software platform.

This new order from Orange Unified School District in Orange, California is for thirteen Nuvve Level 2 "PowerPort" chargers and three 60kW chargers. This follows the district's 2021 purchase of fifteen Nuvve Level 2 PowerPort chargers which it currently uses for its fleet of 15 electric school buses purchased over 2021 and 2022 from Blue Bird Corporation (Nasdaq: BLBD), the leader in electric and low-emission school buses. Two additional buses are on order and the district plans to continue expanding their ESB fleet in the future.

"We embarked on this journey to switch from dirty diesel to zero-emission electric buses back in 2021 and ever since then, we've heard nothing but positive feedback from students and drivers alike," said Christina Celeste-Russo, transportation director for Orange Unified. "Not only were we able to reallocate funds that would have otherwise gone to fuel and maintenance costs, but our ability to provide cleaner commutes results in a happier student body and a healthier community."

"Many Nuvve customers continue building their electric bus fleets after their first purchase and Orange Unified is no different," said Nuvve co-founder and CEO Gregory Poilasne. "As a company leading the way toward a future free from fossil fuels, we're thrilled to celebrate this milestone achievement with the district, a loyal Nuvve customer. We look forward to strengthening our relationship as we support both their new and existing charging stations, enabling them to both reduce emissions in the transportation sector and lower their total cost of ownership through future grid service revenues. While the value of grid service revenues vary by region, we believe 500 EV Buses connected to our platform represents, on average, the potential for future recurring revenues ranging between $1.5 to $2.0 million per year over the life of the vehicles. Providing these grid services is possible through Nuvve's proprietary V2G technology which can aggregate the energy and power capacity from EVs forming large virtual power plants (VPP)."

"We congratulate Nuvve on this milestone achievement," said Blue Bird CEO Phil Horlock. "Blue Bird's industry-leading electric school buses and a high-performing vehicle charging infrastructure go hand-in-hand. Together, we enable zero-emission student transportation for healthier kids and cleaner communities."

The Nuvve K-12 business unit continues its acceleration, achieving the 500-connected milestone in record time. This, on the heels of the company's record monthly and quarterly charging station deployments, shows unmistakable momentum. With third-party forecasts predicting continued strong growth of ESB deployments nationwide, Nuvve is poised for even stronger charging station and hardware growth and revenues in 2024.

About Orange Unified School District
The Orange Unified School District educates approximately 26,000 PreK-12^th grade students in the cities of Orange, Villa Park, Anaheim, Garden Grove, Santa Ana and unincorporated county areas. In partnership with our community, we provide a safe, equitable, and innovative culture of learning for each scholar to have a competitive EDGE as a leader.

About Blue Bird Corporation
Blue Bird (NASDAQ: BLBD) is recognized as a technology leader and innovator of school buses since its founding in 1927. Our dedicated team members design, engineer and manufacture school buses with a singular focus on safety, reliability, and durability. Blue Bird buses carry the most precious cargo in the world - the majority of 25 million children twice a day - making us the most trusted brand in the industry. The company is the proven leader in low- and zero-emission school buses with more than 20,000 propane, natural gas, and electric powered buses in operation today. Blue Bird is transforming the student transportation industry through cleaner energy solutions. For more information on Blue Bird's complete product and service portfolio, visit www.blue-bird.com.

About Nuvve Holding Corp.
Nuvve (Nasdaq: NVVE) is a global technology leader accelerating the electrification of transportation through its proprietary vehicle-to-grid (V2G) platform. Nuvve's mission is to lower the cost of electric vehicle ownership while supporting the integration of renewable energy sources, including solar and wind. For more information, please visit nuvve.com.

Orange Unified School District Contact
Christina A. Celeste-Russo, Director of Transportation
cceleste@orangeusd.org
+1 (714) 997-6244

Blue Bird Press Contact
Julianne Barclay, TSN Communications
julianne@tsncommunications.com
+1 (267) 934-5340

Nuvve Investor Contact
investorrelations@nuvve.com
+1 (619) 483-3448

Nuvve Press Contact
(W)right On Communications, Larry Smalheiser
lsmalheiser@wrightoncomm.com
+1 (925) 413-3137

Nuvve 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 concerning the Company's expectations, plans, intentions, strategies, prospects, business plans, product and service offerings, new product launches, potential clinical successes, 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). Copies of these filings are available online at www.sec.gov, https://investors.nuvve.com/ or on request from Nuvve. 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.

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SOURCE Nuvve Holding Corp.