Latest news with #NuvveHoldingCorp
Yahoo
2 days ago
- Business
- Yahoo
DeFi Technologies to Manage Nuvve's HYPE Treasury Strategy Through Newly Launched DeFi Advisory Business Line
DeFi Technologies has launched its DeFi Advisory business line to provide institutional-grade digital asset treasury solutions for public companies, offering asset management, trade execution, and strategic advisory through an integrated platform. The Advisory division's first mandate is with Nuvve Holding Corp., which has appointed DeFi Technologies to manage its HYPE token treasury strategy, including custody, OTC execution via Stillman Digital, and performance optimization. DeFi Technologies will earn recurring management fees based on treasury AUM, paid quarterly in either equity or cash, reinforcing the Company's scalable, fee-based business model as public market participation in digital assets accelerates. TORONTO, July 21, 2025 /PRNewswire/ - DeFi Technologies Inc. (the "Company" or "DeFi Technologies") (Nasdaq: DEFT) (CBOE CA: DEFI) (GR: R9B), a financial technology company bridging the gap between traditional capital markets and decentralized finance, is pleased to announce that its newly launched DeFi Advisory business line has been engaged to act as the asset manager for Nuvve Holding Corp.'s (Nasdaq: NVVE) recently announced HYPE treasury strategy. Nuvve, a global leader in vehicle-to-grid (V2G) technology and grid modernization, has expanded its corporate treasury policy to include HYPE—the native token of Hyperliquid and one of the world's fastest-growing decentralized exchanges (DEX). The investment reflects Nuvve's commitment to long-term growth, digital innovation, and responsible participation in the decentralized finance ecosystem. DeFi Advisory, established to provide institutional-grade digital asset treasury solutions for public companies, will oversee secure custody, execute OTC transactions, and manage active strategies to optimize the performance of Nuvve's HYPE position. Compensation for these services will be paid quarterly based on a percentage of AUM in the form of either equity (warrants or shares) or cash, at Nuvve's discretion. The agreement also includes the use of Stillman Digital, a DeFi Technologies subsidiary, to execute OTC transactions and support Nuvve's ongoing digital asset purchases. "DeFi Advisory represents a significant evolution in our business model—transforming our existing research and execution infrastructure into a dedicated, institutional-grade service offering," said Olivier Roussy Newton, CEO of DeFi Technologies. "As more public companies evaluate digital asset strategies, there's a clear need for credible, compliant, and customized advisory solutions. Through this partnership with Nuvve, we're demonstrating how public market participants can strategically engage with the decentralized economy in a secure and scalable way." This new DeFi Advisory business line positions DeFi Technologies to further capitalize on the accelerating wave of public digital asset treasury companies being formed across global markets. With proven in-house infrastructure in Exchange Traded Products (ETPs), trading, custody, and research, DeF Technologies is uniquely equipped to support these companies in navigating go-public transactions, managing digital asset portfolios, and executing institutional-grade trades, all under one roof. The DeFi Advisory division complements DeFi Technologies's existing business units, enabling a multi-pronged approach to supporting the next generation of digital asset companies. Additional mandates are already in the pipeline and expected to be announced in the coming months. About Nuvve Holding Holding Corp. (NASDAQ: NVVE) is a global leader accelerating the electrification of transportation through its proprietary vehicle-to-grid (V2G) technology. Nuvve's platform enables electric vehicles to store and discharge energy, transforming EVs into mobile energy resources and helping to stabilize the grid. Nuvve's mission is to lower the cost of EV ownership while supporting the transition to a cleaner, more resilient energy infrastructure. For more information, visit About DeFi TechnologiesDeFi Technologies Inc. (Nasdaq: DEFT) (CBOE CA: DEFI) (GR: R9B) is a financial technology company bridging the gap between traditional capital markets and decentralized finance ("DeFi"). As the first Nasdaq-listed digital asset manager of its kind, DeFi Technologies offers equity investors diversified exposure to the broader decentralized economy through its integrated and scalable business model. This includes Valour, which offers access to over sixty-five of the world's most innovative digital assets via regulated ETPs; Stillman Digital, a digital asset prime brokerage focused on institutional-grade execution and custody; Reflexivity Research, which provides leading research into the digital asset space; Neuronomics, which develops quantitative trading strategies and infrastructure; and DeFi Alpha, the Company's internal arbitrage and trading business line. With deep expertise across capital markets and emerging technologies, DeFi Technologies is building the institutional gateway to the future of finance. Follow DeFi Technologies on LinkedIn and X/Twitter, and for more details, visit DeFi Technologies Subsidiaries About ValourValour Inc. and Valour Digital Securities Limited (together, "Valour") issues exchange traded products ("ETPs") that enable retail and institutional investors to access digital assets in a simple and secure way via their traditional bank account. Valour is part of the asset management business line of DeFi Technologies. For more information about Valour, to subscribe, or to receive updates, visit About Stillman DigitalStillman Digital is a leading digital asset liquidity provider that offers limitless liquidity solutions for businesses, focusing on industry-leading trade execution, settlement, and technology. For more information, please visit About Reflexivity ResearchReflexivity Research LLC is a leading research firm specializing in the creation of high-quality, in-depth research reports for the bitcoin and digital asset industry, empowering investors with valuable insights. For more information please visit About Neuronomics AGNeuronomics AG is a Swiss asset management firm specializing in AI-powered quantitative trading strategies. By integrating artificial intelligence, computational neuroscience and quantitative finance, Neuronomics delivers cutting-edge solutions that drive superior risk-adjusted performance in financial markets. For more information please visit Analyst Coverage of DeFi Technologies A full list of DeFi Technologies analyst coverage can be found here: For inquiries from institutional investors, funds, or family offices, please contact: ir@ Cautionary note regarding forward-looking information: This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to the appointment of DeFi Advisory as the asset manager for Nuvve; the business plans of DeFi Advisory; returns generated by DeFi Advisory pursuant to its asset management mandates; ; the regulatory environment with respect to the growth and adoption of decentralized finance; the pursuit by the Company and its subsidiaries of business opportunities; and the merits or potential returns of any such opportunities. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, but is not limited to the acceptance of Valour exchange traded products by exchanges; growth and development of decentralised finance and digital asset sector; rules and regulations with respect to decentralised finance and digital assets; fluctuation in digital asset prices; general business, economic, competitive, political and social uncertainties. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. THE CBOE CANADA EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE View original content to download multimedia: SOURCE DeFi Technologies Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
11-07-2025
- Business
- Yahoo
Nuvve Holding Corp. Announces Proposed Public Offering of Common Stock
SAN DIEGO, July 10, 2025--(BUSINESS WIRE)--Nuvve Holding Corp. (Nasdaq: NVVE) (the "Company" or "Nuvve"), a global leader in vehicle-to-grid (V2G) technology and grid modernization, today announced that it is commencing an underwritten public offering of shares of its common stock (or common stock equivalents). The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. Lucid Capital Markets is acting as the sole book-running manager for the offering. The offering is being made pursuant to a shelf registration statement on Form S-3 (File No. 333-288394) filed with the Securities and Exchange Commission ("SEC") on June 27, 2025, and declared effective by the SEC on July 7, 2025. A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website at Copies of the preliminary prospectus supplement and accompanying prospectus relating to the offering, when available, may also be obtained by contacting Lucid Capital Markets, LLC, 570 Lexington Avenue, 40th Floor, New York, NY 10022. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. About Nuvve Holding Corp. Nuvve Holding Corp. is a global leader accelerating the electrification of transportation through its proprietary vehicle-to-grid (V2G) technology. Nuvve's platform enables electric vehicles to store and discharge energy, transforming EVs into mobile energy resources and helping to stabilize the grid. Nuvve's mission is to lower the cost of EV ownership while supporting the transition to a cleaner, more resilient energy infrastructure. Forward-Looking Statements: This press release contains forward-looking statements or forward-looking information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of forward-looking terms such as "may," "will," "expects," "believes," "aims," "anticipates," "plans," "looking forward to," "estimates," "projects," "assumes," "guides," "targets," "forecasts," "continue," "seeks" or the negatives of such terms or other variations on such terms or comparable terminology, although not all forward-looking statements contain such identifying words. Forward-looking statements include, but are not limited to, statements regarding Nuvve's anticipated public offering, including the completion of the public offering on the anticipated terms, if at all, and other statements that are not historical facts. Nuvve cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Nuvve. Such statements are based upon the current beliefs and expectations of management and are subject to significant risks and uncertainties that could cause actual outcomes and results to differ materially. Some of these risks and uncertainties can be found in Nuvve's most recent Annual Report on Form 10-K and subsequent periodic reports filed with the Securities and Exchange Commission (SEC). These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in the Nuvve's filings with the SEC. Such forward-looking statements speak only as of the date made, and Nuvve disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers of this press release are cautioned not to place undue reliance on these forward-looking statements, since there can be no assurance that these forward-looking statements will prove to be accurate. This cautionary statement is applicable to all forward-looking statements contained in this press release. View source version on Contacts Media Contact:Paulo Acunapacuna@ 310.824.9000 Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Business Wire
10-07-2025
- Business
- Business Wire
Nuvve Holding Corp. Announces Proposed Public Offering of Common Stock
SAN DIEGO--(BUSINESS WIRE)--Nuvve Holding Corp. (Nasdaq: NVVE) (the 'Company' or 'Nuvve'), a global leader in vehicle-to-grid (V2G) technology and grid modernization, today announced that it is commencing an underwritten public offering of shares of its common stock (or common stock equivalents). The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. Lucid Capital Markets is acting as the sole book-running manager for the offering. The offering is being made pursuant to a shelf registration statement on Form S-3 (File No. 333-288394) filed with the Securities and Exchange Commission ('SEC') on June 27, 2025, and declared effective by the SEC on July 7, 2025. A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website at Copies of the preliminary prospectus supplement and accompanying prospectus relating to the offering, when available, may also be obtained by contacting Lucid Capital Markets, LLC, 570 Lexington Avenue, 40th Floor, New York, NY 10022. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. About Nuvve Holding Corp. Nuvve Holding Corp. is a global leader accelerating the electrification of transportation through its proprietary vehicle-to-grid (V2G) technology. Nuvve's platform enables electric vehicles to store and discharge energy, transforming EVs into mobile energy resources and helping to stabilize the grid. Nuvve's mission is to lower the cost of EV ownership while supporting the transition to a cleaner, more resilient energy infrastructure. Forward-Looking Statements: This press release contains forward-looking statements or forward-looking information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of forward-looking terms such as 'may,' 'will,' 'expects,' 'believes,' 'aims,' 'anticipates,' 'plans,' 'looking forward to,' 'estimates,' 'projects,' 'assumes,' 'guides,' 'targets,' 'forecasts,' 'continue,' 'seeks' or the negatives of such terms or other variations on such terms or comparable terminology, although not all forward-looking statements contain such identifying words. Forward-looking statements include, but are not limited to, statements regarding Nuvve's anticipated public offering, including the completion of the public offering on the anticipated terms, if at all, and other statements that are not historical facts. Nuvve cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Nuvve. Such statements are based upon the current beliefs and expectations of management and are subject to significant risks and uncertainties that could cause actual outcomes and results to differ materially. Some of these risks and uncertainties can be found in Nuvve's most recent Annual Report on Form 10-K and subsequent periodic reports filed with the Securities and Exchange Commission (SEC). These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in the Nuvve's filings with the SEC. Such forward-looking statements speak only as of the date made, and Nuvve disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers of this press release are cautioned not to place undue reliance on these forward-looking statements, since there can be no assurance that these forward-looking statements will prove to be accurate. This cautionary statement is applicable to all forward-looking statements contained in this press release.
Yahoo
03-07-2025
- Automotive
- Yahoo
Nuvve Holding Corp. Appoints Laura Huang and Brian Johnson to Board of Directors
New board members bring industry expertise in organizational transformation, mobility innovation, and strategic finance to support Nuvve's next phase of growth SAN DIEGO, July 03, 2025--(BUSINESS WIRE)--Nuvve Holding Corp. (NASDAQ: NVVE), a global leader in vehicle-to-grid (V2G) technology and grid modernization, today announced the appointment of Laura Huang and Brian Johnson to its Board of Directors. The two bring a combined four decades of experience in academia, finance, and mobility innovation, significantly advancing the company's strategic oversight and governance. "Laura and Brian are transformative leaders with deeply complementary skill sets," said Gregory Poilasne, CEO of Nuvve. "These additions to the company's board enable Nuvve to further strengthen its commitment to scaling both its core energy platform and digital asset initiatives through world-class governance, industry expertise, and innovation leadership." Laura Huang is a Distinguished Professor of Management and Organizational Development at Northeastern University and serves as Associate Dean of Executive Education. She is a recognized expert in strategic growth, risk management, and leadership under uncertainty. Her research has been honored by the National Academy of Sciences and Thinkers50, and has advised multinational companies on topics ranging from AI and global expansion to M&A and board governance. Her past roles include leadership positions at Standard Chartered Bank, IBM Global Services, and Johnson & Johnson. "Nuvve is at the precipice of significant development and an elevated position in the marketplace," said Huang. "I look forward to collaborating with leadership to drive the future of Nuvve, specifically as the global V2G market experiences rapid growth, with projections estimating a surge to $78.8 billion by 2034." Brian Johnson is a former Managing Director and senior equity analyst who led U.S. Autos and Auto Parts coverage at Barclays for over a decade. He previously held senior analyst roles at Lehman Brothers and Sanford C. Bernstein, and began his career as a Partner at McKinsey & Company, where he advised global financial institutions on M&A and digital innovation. He later served as a partner at Accenture, leading financial services strategy initiatives. Johnson holds a J.D. from Harvard Law School and a B.S. in Industrial Engineering from Stanford University. "This is a unique opportunity to put our stake in the ground and for Nuvve to solidify its place as an industry leader," said Johnson. "We aim to capitalize on the current momentum surrounding bidirectional energy solutions, the electric vehicle adoption, and advancements in smart grid technology." About Nuvve Holding Corp. Nuvve Holding Corp. (NASDAQ: NVVE) is a global leader accelerating the electrification of transportation through its proprietary vehicle-to-grid (V2G) technology. Nuvve's platform enables electric vehicles to store and discharge energy, transforming EVs into mobile energy resources and helping to stabilize the grid. Nuvve's mission is to lower the cost of EV ownership while supporting the transition to a cleaner, more resilient energy infrastructure. For more information, visit View source version on Contacts Media Contact:Paulo Acunapacuna@ 310.824.9000
Business Wire
15-05-2025
- Business
- Business Wire
Nuvve Provides First Quarter 2025 Financial Update
SAN DIEGO--(BUSINESS WIRE)--Nuvve Holding Corp. ('Nuvve', 'we', the 'Company') (Nasdaq: NVVE), a green energy technology company that provides a globally-available, commercial vehicle-to-grid (V2G) technology platform that enables electric vehicle (EV) batteries to store and resell unused energy back to the local electric grid and provides other grid services, today provided a first quarter 2025 update. First Quarter Highlights and Recent Developments Total revenue increased by 19.8% to $0.9 million in the first quarter of 2025 compared to the first quarter of 2024 Operating expenses excluding cost of sales reduced by 20.7% to $6.0 million in the first quarter 2025 compared to the first quarter 2024 Operating losses decreased by 22.9% to $5.6 million in the first quarter 2025 compared to the first quarter 2024 Increased megawatts under management by 3.6% to 31.8 megawatts as of March 31, 2025 from 30.7 megawatts as of December 31, 2024 We raised approximately $5.3 million in gross proceeds through debt obligations, private placement offerings, registered direct offerings, and exercise of warrants to purchase shares of common stock during the first quarter of 2025 to support our operations and growth initiatives. Cash and cash equivalents as of March 31, 2025 was $1.2 million. Management Discussion Gregory Poilasne, Chief Executive Officer of Nuvve, said, 'Though the sales numbers are not yet reflecting it for different reasons, the transformation we have been undertaking since last year is coming together. We are also very excited about the possibility of future business expansion through potential merger and acquisition activities like our recent acquisition of Fermata. We look forward to sharing more details on the execution of our merger and acquisition strategy as it unfolds.' 2025 First Quarter Financial Review Total revenue was $0.93 million for the three months ended March 31, 2025, compared to $0.78 million for the three months ended March 31, 2024, an increase of $0.15 million, or 19.8%. The increase was primarily attributable to a $0.09 million modest increase in products revenue due to higher customers sales orders and shipments, increase in services revenue $0.05 million, and increase in grants of $0.02 million. Products and services revenue for the three months ended March 31, 2025, consisted of DC and AC Chargers of $0.57 million, grid services revenue of $0.05 million, and engineering services of $0.22 million driven by management fees of $0.18 million earned related to Fresno V2G infrastructure project management. Cost of products and services revenue for the three months ended March 31, 2025, increased by $0.05 million to $0.6 million, or 10.2% compared to $0.5 million for the three months ended March 31, 2024 due to higher customers sales orders and shipments. Products and services margin increased by 5.8% to 32.6% for the three months ended March 31, 2025, compared to 26.8% in the same prior year period. Margin benefited from a lower mix of hardware charging stations' sales and a higher mix of engineering services in the first quarter of 2025 compared with the first quarter of 2024. Selling, general and administrative expenses consist of selling, marketing, advertising, payroll, administrative, legal, finance, and professional expenses. Selling, general and administrative expenses were $5.1 million for the three months ended March 31, 2025, as compared to $5.9 million for the three months ended March 31, 2024, a decrease of $0.9 million, or 14.4%. The decrease during the three months ended March 31, 2025 was primarily attributable to decreases in compensation expenses of $1.4 million, including share-based compensation, decreases in public company related costs of $0.2 million, decreases in office related expenses of $0.3 million, partially offset by increases in legal fees expenses of $0.8 million and increases in travel and marketing/promotions related expenses of $0.2 million. Research and development expenses decreased by $0.7 million, or 44.4%, from $1.6 million for the three months ended March 31, 2024 to $0.9 million for the three months ended March 31, 2025. The decrease during the three months ended March 31, 2025 was primarily attributable to decreases in compensation expenses and subcontractor expenses used to advance our platform functionality and integration with more vehicles. Other income, net consists primarily of interest expense, change in fair value of convertible notes, change in fair value of warrants liability and derivative liability, and other income (expense). Other income, net decreased by $1.81 million from $0.52 million of other income for the three months ended March 31, 2024, to $1.29 million in other expenses for the three months ended March 31, 2025. The decrease during the three months ended March 31, 2025 was primarily attributable to the change in fair values of the convertible notes and warrants liability, partially offset by increases in sublease income related to the subleasing of part of our main office space and interest expense on debt obligations. Net loss increased by $0.1 million, or 2.2%, from $6.7 million for the three months ended March 31, 2024, to $6.9 million for the three months ended March 31, 2025. The increase in net loss was primarily due to decrease in other income of $1.8 million, and decrease in operating expenses of $1.5 million, which includes an increase in cost of products and services of $0.1 million, and a increase in revenue of $0.15 million, for the above aforementioned reasons. Net Income (Loss) Attributable to Non-Controlling Interest Net loss attributable to non-controlling interest was $0.01 million for the three months ended March 31, 2025 compared to net income attributable to non-controlling interest of $0.01 million for the three months ended March 31, 2024. Net loss is allocated to non-controlling interests in proportion to the relative ownership interests of the holders of non- controlling interests in Deep Impact entity. We own 51% of Deep Impact common units during the three months ended March 31, 2025. We had determined that Deep Impact is a variable interest entity ('VIE') in which we are the primary beneficiary. Accordingly, we consolidated Deep Impact, and recorded a non-controlling interest for the share of Deep Impact owned by other parties during the three months ended March 31, 2025. Megawatts Under Management Megawatts under management refers to the potential available charging capacity Nuvve is currently managing around the world. Conference Call Details The Company will hold a conference call to review its financial results for the first quarter of 2025, along with other Company developments, at 5:00 PM Eastern Time (2:00 PM PT) today, Thursday, May 15, 2025. To participate, please register for and listen via a live webcast, which is available in the 'Events' section under the 'News & Events' tab of Nuvve's investor relations website at In addition, a replay of the call will be made available for future access. About Nuvve Holding Corp. Nuvve Holding Corp. (Nasdaq: NVVE) is leading the electrification of the planet, beginning with transportation, through its intelligent energy platform. Combining the world's most advanced vehicle-to-grid (V2G) technology and an ecosystem of electrification partners, Nuvve dynamically manages power among electric vehicle (EV) batteries and the grid to deliver new value to EV owners, accelerate the adoption of EVs, and support the world's transition to clean energy. By transforming EVs into mobile energy storage assets and networking battery capacity to support shifting energy needs, Nuvve is making the grid more resilient, enhancing sustainable transportation, and supporting energy equity in an electrified world. Since its founding in 2010, Nuvve has successfully deployed V2G on five continents and offers turnkey electrification solutions for fleets of all types. Nuvve is headquartered in San Diego, California, and can be found online at Nuvve and associated logos are among the trademarks of Nuvve and/or its affiliates in the United States, certain other countries and/or the European Union. Any other trademarks or trade names mentioned are the property of their respective owners. Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements or forward-looking information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of forward-looking terms such as "may," "will," "expects," "believes," "aims," "anticipates," "plans," "looking forward to," "estimates," "projects," "assumes," "guides," "targets," "forecasts," "continue," "seeks" or the negatives of such terms or other variations on such terms or comparable terminology, although not all forward-looking statements contain such identifying words. Forward-looking statements include, but are not limited to, statements concerning Nuvve's expectations, plans, intentions, strategies, prospects, business plans, product and service offerings, new deployments, potential project successes, expected timing of recently announced projects, anticipated growth of various business areas and other statements that are not historical facts. Nuvve cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Nuvve. Such statements are based upon the current beliefs and expectations of management and are subject to significant risks and uncertainties that could cause actual outcomes and results to differ materially. Some of these risks and uncertainties can be found in Nuvve's most recent Annual Report on Form 10-K and subsequent periodic reports filed with the Securities and Exchange Commission (SEC). Copies of these filings are available online at or on request from Nuvve. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in the Nuvve's filings with the SEC. Such forward-looking statements speak only as of the date made, and Nuvve disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers of this press release are cautioned not to place undue reliance on these forward-looking statements, since there can be no assurance that these forward-looking statements will prove to be accurate. This cautionary statement is applicable to all forward-looking statements contained in this press release. NUVVE HOLDING CORP. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) March 31, 2025 December 31, 2024 Assets Current assets Cash $ 1,189,577 $ 371,497 Restricted cash 320,000 320,000 Accounts receivable, net 1,485,842 2,148,198 Inventories 4,146,214 4,591,902 Prepaid expenses 858,862 494,986 Deferred costs - current 640,383 417,290 Other current assets 459,630 931,244 Total current assets 9,100,508 9,275,117 Property and equipment, net 588,424 613,958 Intangible assets, net 1,027,906 1,062,766 Investment in equity securities 670,951 670,951 Investment in leases 100,588 101,415 Right-of-use operating lease assets 4,359,362 4,493,360 Deferred costs - noncurrent 589,166 564,558 Security deposit, long-term 40,506 15,687 Total assets $ 16,477,411 $ 16,797,812 Liabilities and Equity Current liabilities Accounts payable $ 2,189,013 $ 1,882,357 Accrued expenses 4,798,163 3,393,205 Deferred revenue - current 1,041,601 506,496 Debt - term loan 1,662,500 1,609,928 Due to related party - promissory notes - current 26,407 562,241 Convertible notes - current 1,559,932 2,475,162 Operating lease liabilities - current 931,128 914,800 Other liabilities 146,510 6,969 Total current liabilities 12,355,254 11,351,158 Operating lease liabilities - noncurrent 4,109,738 4,254,173 Due to related party - promissory notes - noncurrent 1,106,500 840,500 Convertible notes - noncurrent 492,703 — Deferred revenue - noncurrent 556,854 771,747 Warrants/investment rights liability 930,249 699,087 Other long-term liabilities 167,919 170,794 Total liabilities 19,719,217 18,087,459 Commitments and Contingencies Mezzanine equity Redeemable non-controlling interests, preferred shares, zero par value, 1,000,000 shares authorized, 0 shares issued and outstanding at March 31, 2025 and — shares issued and outstanding at December 31, 2024; aggregate liquidation preference of $0 and $3,750,201 at March 31, 2025 and December 31, 2024, respectively — — Class D Incentive units, zero par value, 1,000,000 units authorized; zero units issued and outstanding at March 31, 2025 and zero units issued and outstanding at December 31, 2024, respectively — — Stockholders' equity Preferred stock, $0.0001 par value, 1,000,000 shares authorized; zero shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively — — Expand Common stock, $0.0001 par value, 200,000,000 shares authorized; 3,116,368 and 904,949 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively 6,629 6,408 Treasury stock, at cost, 1,680 shares outstanding at March 31, 2025; 1,680 shares outstanding at December 31, 2024 — — Additional paid-in capital 169,211,321 164,285,336 Accumulated other comprehensive income 46,730 46,494 Accumulated deficit (172,472,079 ) (165,599,076 ) Nuvve Holding Corp. Stockholders' deficit (3,207,399 ) (1,260,838 ) Non-controlling interests (34,407 ) (28,809 ) Total stockholders' deficit (3,241,806 ) (1,289,647 ) Total deficit (3,241,806 ) (1,289,647 ) Total Liabilities and Equity $ 16,477,411 $ 16,797,812 Expand NUVVE HOLDING CORP. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended March 31, 2025 2024 Revenue Products $ 565,551 $ 476,469 Services 267,304 219,871 Grants 101,449 83,416 Total revenue 934,304 779,756 Operating expenses Cost of products 493,215 336,672 Cost of services 68,029 172,772 Selling, general, and administrative 5,075,902 5,928,110 Research and development 883,772 1,589,577 Total operating expenses 6,520,918 8,027,131 Operating loss (5,586,614 ) (7,247,375 ) Other income (expense) Interest (expense) income, net (535,817 ) 9,012 Change in fair value of convertible notes (1,091,006 ) — Change in fair value of warrants/investment rights liability (124,618 ) 727,662 Change in fair value of derivative liability — (11,533 ) Other, net 459,454 (206,503 ) Total other income (expense), net (1,291,987 ) 518,638 Loss before taxes (6,878,601 ) (6,728,737 ) Income tax expense — — Net loss $ (6,878,601 ) $ (6,728,737 ) Less: Net loss attributable to non-controlling interests (5,598 ) (14,299 ) Net loss attributable to Nuvve Holding Corp. $ (6,873,003 ) $ (6,714,438 ) Less: Preferred dividends on redeemable non-controlling interests — 75,004 Less: Accretion on redeemable non-controlling interests preferred shares — 161,466 Net loss attributable to Nuvve Holding Corp. common stockholders $ (6,873,003 ) $ (6,950,908 ) Net loss per share attributable to Nuvve Holding Corp. common stockholders, basic and diluted $ (3.88 ) $ (16.89 ) Weighted-average shares used in computing net loss per share attributable to Nuvve Holding Corp. common stockholders, basic and diluted 1,772,214 411,443 Expand NUVVE HOLDING CORP AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) Three Months Ended March 31, 2025 2024 Net loss $ (6,878,601 ) $ (6,728,737 ) Other comprehensive (loss) income, net of taxes Foreign currency translation adjustments, net of taxes $ 236 $ (13,651 ) Total comprehensive loss $ (6,878,365 ) $ (6,742,388 ) Less: Comprehensive loss attributable to non-controlling interests $ (5,598 ) $ (14,299 ) Comprehensive loss attributable to Nuvve Holding Corp. $ (6,872,767 ) $ (6,728,089 ) Less: Preferred dividends on redeemable non-controlling interests $ — $ (75,004 ) Less: Accretion on redeemable non-controlling interests preferred shares — (161,466 ) Comprehensive loss attributable to Nuvve Holding Corp. common stockholders $ (6,872,767 ) $ (6,491,619 ) Expand NUVVE HOLDING CORP. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) Three Months Ended March 31, 2025 2024 Operating activities Net loss $ (6,878,601 ) $ (6,728,737 ) Adjustments to reconcile to net loss to net cash used in operating activities Depreciation and amortization 72,677 86,656 Stock-based compensation 554,659 877,782 Amortization of discount on debt and promissory notes 61,326 — Change in fair value of warrants liability 124,618 (727,662 ) Change in fair value of convertible notes 1,091,006 — Change in fair value of derivative liability — 11,533 Loss on warrants issuance — 305,065 Noncash lease expense 111,059 126,178 Change in operating assets and liabilities Accounts receivable 606,037 443,875 Inventory 204,841 (193,180 ) Prepaid expenses and other assets 210,137 732,925 Accounts payable 306,656 (215,495 ) Accrued expenses and other liabilities 1,405,765 504,357 Deferred revenue 321,039 52,123 Net cash used in operating activities (1,808,781 ) (4,724,580 ) Investing activities Purchase of property and equipment (12,284 ) (40,907 ) Net cash used in investing activities (12,284 ) (40,907 ) Financing activities Proceeds from exercise of warrants 854,096 — Proceeds from debt and promissory notes obligations 3,273,524 — Repayment of debt and promissory notes obligations (2,069,579 ) — Proceeds from common stock offering, net of issuance costs 564,847 8,516,741 Payment of finance lease obligations (2,855 ) (2,888 ) Net cash provided in financing activities 2,620,033 8,513,853 Effect of exchange rate on cash 19,112 5 Net increase in cash and restricted cash 818,080 3,748,371 Cash and restricted cash at beginning of year 691,497 2,014,660 Cash and restricted cash at end of period $ 1,509,577 $ 5,763,031 Supplemental Disclosure of cash information: Cash paid for interest $ 490,462 $ — Expand
