Strategic Partnership and Large European Pipeline
Announced partnership with OMNIA Global to deploy >1 GW battery pipeline in Europe; three projects already announced totaling 150 MW (Sweden 50 MW / 75 MWh, Austria 40 MW / 80 MWh, Romania 60 MW / 120 MWh). Potential compensation estimated at $250k to >$500k per MW per year, representing significant upside if monetized.
Growth in Quarterly Revenue and Improved Margins
Q4 2025 total revenue of $1.93M versus $1.79M in Q4 2024 (≈ +7.8% YoY). Product/service/grant gross margins improved to 24.2% in Q4 2025 from 15.8% a year ago (+8.4 percentage points); year-to-date margins improved to 39.1% from 33.1% (+6.0 percentage points). Excluding grant revenues, Q4 margins increased to 16.0% from 11.5% (+4.5 percentage points).
Material Reduction in Operating and Cash Operating Expenses
Operating costs (ex cost of sales & impairment) in Q4 2025 were $3.7M versus $5.9M in Q4 2024 (≈ -37%); cash operating expenses (ex cost of sales, inventory impairment, stock comp, D&A) were $2.0M in Q4 2025 versus $5.2M in Q4 2024 (≈ -61.5%), reflecting payroll and operating cost reductions.
Improved Liquidity via Financings and Asset Sale
Cash on hand of ~$5.5M at Dec 31, 2025 (excluding $0.3M restricted cash), an increase of $5.1M from Dec 2024. Drivers included $8.1M raised from preferred stock issuance and warrant exercises and $0.9M from sale of DREEV equity, partially offset by $4.5M used in operations.
Progress in Japan and New Sales
Nuvve Japan launched after Toyota Tsusho partnership termination; sold a 2 MW / 8 MWh battery in Niigata for $3.35M (received just under $1M down payment) with targeted delivery by November 2026. Nuvve Japan also selected as aggregator for another 2 MW project and has a sizable pipeline (36–48 month horizon).
Quarter-over-Quarter Increase in Megawatts Under Management
Megawatts under management rose to 28.3 MW in Q4 2025 from 26.4 MW in Q3 2025 (+7.5% QoQ), driven by DC charger deployments (composition: 28.1 MW EV chargers, 0.2 MW stationary batteries).