Nuvve (NVVE) stock surged on Thursday after the vehicle-to-grid (V2G) solutions company announced a new deal for its Nuvve Japan business. This deal will have Nuvve Japan act as the aggregator for a high-voltage storage battery installed in Tainai City, Niigata Prefecture. This battery has an output of 1,999 kW and a capacity of 8,170 MWh.
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With this deal, Nuvve Japan will take care of the market operation and control of this battery. This will see it handle the supply-demand adjustment market and the wholesale electricity market, which will generate revenue for the client. This operation is expected to start in the first half of 2026.
Gregory Poilasne, CEO and Founder of Nuvve, said, “This contract is the first step, demonstrating new possibilities for utilizing storage resources in Japan.” Additionally, Nuvve Japan plans to seek out similar deals in the country, targeting various regions and utilizing existing storage assets.
Nuvve Stock Movement Today
Nuvve stock was up 195.2% in pre-market trading on Thursday, following a 2.25% drop on Wednesday. The stock has plummeted 94.99% year-to-date and 95.47% over the past 12 months.
Today’s Nuvve Japan news brought with it heavy trading of NVVE stock. This saw more than 222 million shares of NVVE stock traded this morning. To put that in perspective, the company’s daily average trading volume is about 3.53 million.
Is Nuvve Stock a Buy, Sell, or Hold?
Turning to Wall Street, analyst coverage of Nuvve is lacking. Fortunately, TipRanks’ AI analyst Spark has it covered. Spark rates NVVE stock an Underperform (39) with no price target. It cites “weak financial performance and valuation, reflecting significant profitability and liquidity challenges” as reasons for this stance.
