Nuvve Secures New Mexico Contract to Boost EV Infrastructure and Renewable Energy Expansion
Nuvve Holding Corp. a global leader in grid modernization and vehicle-to-grid (V2G) technology, has announced a significant milestone in its mission to accelerate electric vehicle (EV) adoption and integrate renewable energy solutions. The company has been awarded a contract by the State of New Mexico (SONM) to provide a comprehensive, turnkey electrification solution that aligns with the state’s ambitious zero-emission vehicle (ZEV) adoption and clean energy goals. This initiative is expected to drive large-scale transformation in the state’s transportation and energy infrastructure.
The contract, structured as a Statewide Price Agreement (SWPA), is designed to facilitate a seamless and efficient transition to EV fleets across New Mexico’s public agencies. Nuvve estimates that the total addressable market (TAM) for fleet electrification and the supporting infrastructure under this agreement is approximately $400 million. The first project under this contract is anticipated to be announced by the end of Q2, marking a significant step in New Mexico’s clean energy transition.
A Commitment to Grid Modernization and Decarbonization
New Mexico’s push toward decarbonization and grid modernization reflects its broader commitment to environmental sustainability. Governor Michelle Lujan Grisham’s administration has set forth aggressive initiatives to transition the state’s transportation sector toward zero-emission technology. The agreement with Nuvve serves as a crucial element in fulfilling the governor’s executive order to transition state-owned vehicle fleets to clean energy alternatives.
Gregory Poilasne, CEO and founder of Nuvve, highlighted the synergy between the company’s mission and New Mexico’s clean energy aspirations.
“New Mexico’s commitment to decarbonization and grid modernization aligns perfectly with Nuvve’s mission to integrate vehicle electrification with clean energy solutions while keeping the cost of energy equitable,” Poilasne stated. “We are driving meaningful progress for communities statewide and accelerating the transition to sustainable transportation while modernizing the grid.”
The overarching goal of this initiative is to create an interconnected system where electric fleets contribute to grid stability while benefiting from cost-effective, renewable energy sources. By leveraging V2G technology, New Mexico’s public sector will gain access to advanced solutions that enhance the efficiency of both transportation and power distribution networks.
Key Components of the Electrification Initiative
The contract with Nuvve will support New Mexico’s Vehicles as a Service (VaaS) program, which is designed to facilitate fleet electrification through a range of services and infrastructure developments. The key components of the initiative include:
1. Turnkey EV Charging Solutions
The deployment of a robust and intelligent EV charging infrastructure is a fundamental pillar of New Mexico’s electrification strategy. Nuvve will oversee the installation, operations, and management of advanced charging stations that support state agencies’ electric fleet needs. These charging solutions will ensure optimal energy distribution and efficient fleet operations by utilizing data-driven insights to manage power consumption effectively.
2. Vehicle-to-Grid (V2G) and Microgrid Development
A core aspect of the initiative is integrating V2G-capable fleets with microgrids, stationary battery storage, and solar energy systems. By enabling bi-directional energy flow, electric vehicles can store and discharge energy to the grid when needed, enhancing grid resilience while reducing overall energy costs. This innovative approach ensures that the transition to EVs does not strain the grid but rather strengthens it by leveraging vehicle batteries as distributed energy resources.
3. Corridor Charging Stations
To support inter-city travel and statewide connectivity, the project will include the development of strategically located EV charging stations along key highway corridors. These stations will provide convenient access for state fleet vehicles while also contributing to the broader expansion of public EV charging infrastructure across New Mexico.
4. EV Leasing and Infrastructure Financing
Recognizing the financial barriers to fleet conversion, Nuvve will introduce innovative financing models that enable public agencies to transition seamlessly to electric vehicles. This includes flexible leasing options and infrastructure financing solutions that minimize upfront costs while maximizing long-term savings.
5. Asset Transition and Fleet Management
A systematic approach to retiring internal combustion engine (ICE) vehicles will be implemented, ensuring an efficient transition to an all-electric fleet. This includes the purchasing, retiring, and management of state-owned ICE vehicles, streamlining the adoption of sustainable alternatives.
Driving Economic and Environmental Benefits
The transition to electrified transportation is expected to yield significant economic and environmental benefits for New Mexico. The reduction of greenhouse gas (GHG) emissions from state fleets will contribute to improved air quality, aligning with national and state climate objectives. Additionally, the shift to EVs will lower operational costs for state agencies by reducing fuel and maintenance expenses associated with traditional gasoline and diesel-powered vehicles.
Ricky Serna, New Mexico Department of Transportation (NMDOT) Cabinet Secretary, emphasized the importance of this contract in achieving the state’s sustainability targets.
“These agreements play a crucial role in fulfilling the objective of Gov. Michelle Lujan Grisham’s executive order to transition our state fleet to zero emissions,” said Serna. “These contracts ensure that state fleets transition to cleaner technology in a manner that is both efficient and economically viable.”
By integrating renewable energy sources with transportation electrification, New Mexico is establishing itself as a leader in clean energy innovation. The state’s proactive approach to infrastructure development and fleet modernization serves as a model for other states aiming to achieve similar sustainability goals.
Nuvve’s Role as a Leader in the EV and Energy Sector
Nuvve’s selection for this contract is a testament to its proven expertise in deploying real-world, scalable EV solutions that benefit both customers and the utility grid. With a history of successful V2G technology implementations, Nuvve has demonstrated its ability to deliver cutting-edge electrification strategies that align with state and municipal sustainability objectives.
Ted Smith, President and COO of Nuvve, highlighted the company’s commitment to driving innovation in fleet electrification.
“Nuvve continues to lead in deploying real-world, scalable solutions for the benefit of both our customers and the utility grid,” said Smith. “We believe this deployment provides New Mexico with best-in-class technology, financing, and implementation strategies while ensuring the state meets its sustainability goals without compromising operational efficiency.”
As Nuvve moves forward with this initiative, the company is actively working to finalize contracts with key project partners. Further announcements detailing these partnerships and the specific projects under the agreement are expected in the near future.
