Nuvve Holding Corp. (NASDAQ:NVVE) Q3 2023 Earnings Call Transcript
Nuvve Holding Corp. (NASDAQ:NVVE) Q3 2023 Earnings Call Transcript November 9, 2023
Operator: Good afternoon and welcome to Nuvve Holding Corp.’s Third Quarter 2023 Earnings Call. [Operator Instructions] As a reminder, this conference today is being recorded. It is now my pleasure to introduce Eduardo Royes. Thank you. You may begin.
Eduardo Royes: Thank you. On today’s call are Gregory Poilasne, Chief Executive Officer; and David Robson, Chief Financial Officer of Nuvve. Earlier today, Nuvve issued a press release announcing its third quarter 2023 results. Following prepared remarks, we will open the call up for questions. Before we begin, I would like to remind you that this call may contain forward-looking statements. While these forward-looking statements reflect Nuvve’s best current judgment, they are subject to risks and uncertainties that could cause actual results to differ materially from those implied by these forward-looking projections. These risk factors are discussed in Nuvve’s filings with the SEC and in the earnings release issued today, which are available on our website.
Nuvve undertakes no obligation to revise or update any forward-looking statements to reflect future events or circumstances. With that, I would like to turn the call over to Gregory Poilasne, Chief Executive Officer of Nuvve. Gregory?
A fleet of electric vehicles lined up in uniform, highlighting the convenience of the company's transportation solutions.
Gregory Poilasne: Thanks, Eduardo and good evening to all. Thank you for joining our third quarter 2023 results call. We came into 2023 with optimism that we were going to experience a well overdue inflection in growth in our business. In the first half of the year, we began laying the foundation of this to play out with record orders and much higher sales than in 2022. Momentum continued to build in the third quarter and so far in Q4. As discussed on our August call, we continue to evolve our AI capabilities by integrating Astrea AI into Nuvve’s FleetBox charge management app in July. The enhanced functionality helps us maintain our differentiated edge and comes at a critical time as we accelerate deployments of our software kits hardware.
With a 97% accuracy rate, Astrea AI is set to maximize revenue generation and bolster our V2G technology globally, revolutionizing EV usage and preparation. In October, we deployed a record number of 38 AC and DC bidirectional charging stations connected to our GIVe platform. While growing our megawatt on the management does not immediately correlate to revenue dollars, it is critical to our growth strategy as one, it increases our pipeline of potential future grid service revenue and two, with more and more people benefiting from the value of our V2G software, market awareness expands, which in turn accelerates demand for our products and services. These deployments were carried out by Nuvve K-12 which was only launched in June of this year, in order to provide a full range of services in order to support fleet electrification from North American student transportation.
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