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Nuvve Provides Second Quarter 2026 Financial Update

Business Wire

Investor Conference Call to be Held Today at 5:00 PM Eastern Time (2:00 PM PT)

SAN DIEGO, August 14, 2026--Nuvve Holding Corp. ("Nuvve", "we", the "Company") (OTCQB Market: NVVE), a green energy technology company that provides a globally-available, commercial vehicle-to-grid (V2G) technology platform that enables electric vehicle (EV) and stationary batteries to store and resell unused energy back to the local electric grid and provides other grid services, today provided a second quarter 2026 update.

Second Quarter Highlights and Recent Developments

  • We raised $2.5 million in gross proceeds through private placement and issuance of preferred stock and exercise of warrants during the second quarter of 2026 to support our operations and growth initiatives

  • Total revenues were $1.23 million for the second quarter of 2026 compared to $0.33 million for the second quarter of 2025

  • Gross profit margins were 2.6% for the second quarter of 2026 compared to 60.6% for the second quarter 2025

  • Cash operating losses were $7.3 million in the second quarter 2026 compared to $14.7 million the second quarter 2025

  • We had $0.5 million in cash and cash equivalents as of June 30, 2026 compared to $5.5 million at December 31, 2025

Management Discussion

Gregory Poilasne, Chief Executive Officer of Nuvve, said, "We are pleased with our sales growth in the second quarter after a soft ending in the first quarter. We saw strong year-over-year growth in our CPO business and strengthening of our stationery battery pipeline in Europe, Japan and New Mexico."

2026 Second Quarter Financial Review

Total revenue was $1.23 million for the three months ended June 30, 2026, compared to $0.33 million for the three months ended June 30, 2025, an increase of $0.89 million, or 268.4%. The increase was primarily attributable to $0.77 million increase in products revenue due to higher customers sales orders and shipments, and a $0.18 million increase in grants, partially offset by a $0.06 million decrease in service revenue. Products and services revenue for the three months ended June 30, 2026, consisted of DC Chargers and AC Chargers of $0.92 million, grid services revenue of $0.01 million, and engineering services of $0.12 million.

Cost of products and services revenue was $1.19 million for the three months ended June 30, 2026, compared to $0.13 million for the three months ended June 30, 2025, an increase of $1.06 million, or 811.7%. The increase was primarily due to higher costs of products revenue driven primarily by higher replacement warranty costs of certain discontinued DC Chargers, and the write-down of certain costs related to the Troy project.

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