NUVVE JAPAN Signs 20-Year Merchant Aggregation Agreement for 2MW/8MWh Grid-Scale BESS in Kani City, Gifu

— Strengthening Asset Management Portfolio and Advancing VPP Strategy Through Multi-Market Operation —

NUVVE JAPAN K.K. (Headquarters: Tokyo; hereinafter "NVJ"), a leader in advanced energy aggregation, is pleased to announce the execution of a 20-year Merchant Aggregation Agreement with a Taiwanese corporation operating in Japan. The aggregation agreement is for a 2MW / 8MWh grid-scale Battery Energy Storage System (BESS) currently under development in Kani City, Gifu Prefecture.

The project is scheduled for grid connection in January 2027. As the designated aggregator, NVJ will provide end-to-end market integration and AI-driven dispatch optimization for the asset. NVJ has already received a subscription fee of $70,000.

Strategic Context: Expanding Asset Management and VPP Roadmap

As Japan's power grid evolves with the rapid integration of renewable energy, grid-scale BESS has become critical infrastructure for maintaining frequency stability and managing supply-demand imbalances.

This agreement marks another milestone in NVJ's expanding portfolio battery by aggregation services under management. By integrating this 8MWh utility-scale asset into its platform, NVJ is demonstrating steady progress toward its comprehensive Virtual Power Plant (VPP) vision, which seeks to orchestrate diverse energy resources—from EV fleets to large-scale stationary batteries—to enhance grid resilience.

By adopting a "Full-Merchant" model, NVJ will leverage its advanced aggregation platform to maximize value across three key Japanese power markets:

1. Japan Electric Power Exchange (JEPX): Arbitrage through energy time-shifting.
2. Ancillary Services Market: Providing frequency regulation and grid stability (delta-kW).
3. Capacity Market: Monetizing the long-term reliability and availability (kW value) of the storage asset.

The combination of these services brings an expected value between $255,000 and $382,000 of margin for the 2MW annually.

Project Overview

• Location: Kani City, Gifu Prefecture
• Rated Power Output: 2 MW
• Storage Capacity: 8 MWh (4-hour duration)
• Commercial Operation: January 2027 (Planned)
• Contract Duration: 20 Years
• Key Roles:
  • Japanese subsidiary of a Taiwanese company: Project development, ownership, and maintenance.
  • NUVVE JAPAN: Asset management, market aggregation, and automated dispatch control.

Future Outlook

The 20-year term of this agreement underscores the long-term confidence in the Japanese storage market and NVJ's capabilities. NVJ remains committed to scaling its managed asset base and accelerating the realization of a decentralized, carbon-neutral energy society through its sophisticated VPP technology.

About NUVVE JAPAN K.K.

NUVVE JAPAN is a strategic leader in energy aggregation, utilizing cutting-edge technology to bridge the gap between energy storage assets and the power markets. By optimizing the value of batteries—from EV fleets to grid-scale installations—NUVVE JAPAN provides innovative solutions for the decarbonized energy landscape.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260311091863/en/

Media Inquiries:

Paulo Acuña

[email protected]

310.824.9000