Nuvve Holding, a vehicle-to-grid (V2G) technology provider, has acquired the majority of assets from Fermata Energy, a US-based V2G platform company.
The acquisition was carried out through a newly formed Nuvve subsidiary, Fermata Energy II, which will focus on scaling bidirectional energy solutions.
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The total transaction is valued at approximately $659,000, comprising around $340,000 in cash and the remainder in assumed liabilities.
Additionally, Fermata Energy II issued 4.9 million shares of convertible preferred stock to former debt holders of Fermata Energy.
Leadership of the new entity will be shared between Nuvve CEO Gregory Poilasne and Hamza Lemsaddek, who will serve as chief operating officer.
Poilasne said: “By acquiring Fermata’s assets, we’re creating the leading platform to fully realize V2G’s potential. Together, we accelerate the energy transition by making EVs integral to energy security and grid resiliency.”
Several former Fermata Energy employees will also join the new venture, bringing experience in V2G technology, software development, regulatory engagement, and business operations.
The acquisition includes the consolidation of software platform teams and cloud infrastructure, with projected annual cost savings of approximately $2m.
Fermata Energy II will develop white-label software solutions that integrate forecasting and optimisation features from Fermata with Nuvve’s AI-based grid management tools.
The combined entity aims to serve both electric vehicle fleet operators and utility companies with enhanced energy management capabilities, including predictive charging and load balancing services.
The acquisition also brings together hardware partnerships, strengthening Nuvve’s domestic manufacturing footprint.
Fermata Energy founder and chairman David Slutzky added: “This partnership ensures continuity for our technology and our mission. Nuvve brings the scale, complementary capabilities, and vision to amplify Fermata’s impact. I’m proud of what we’ve built and excited about what’s ahead.”
This move aligns with evolving regulatory incentives, including provisions under the Inflation Reduction Act and state-level energy transition programmes, potentially broadening the market for V2G applications.
Lemsaddek added: “This assets acquisition is about unifying capabilities and accelerating the deployment of intelligent, bidirectional energy solutions. We’re building an end-to-end platform that empowers fleets, utilities, and OEMs to participate in the energy transition more effectively and more profitably.”
Last month, Nuvve has established a new company named NUVVE Japan for its international operations.
