NVVE - Earnings call transcript Q1 2021

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Operator

Good morning and welcome to the Nuvve Holding Corp.'s first-quarter of fiscal year 2021 financial results conference call. [Operator Instructions]. Please note this event is being recorded. I would now like to turn the conference over to Joe Dorame, Managing Partner.

Joe Dorame

Thanks, Betsy. for today. thanks and morning joining us Good

two of On Ted The also Investor David Smith, page are financial today's Gregory results Nuvve Robson, first-quarter accompany one posted regarding Executive with Officer; Poilasne, Chief on Stonepeak issued website. morning Relations slides Chief This a Financial and of to the releases; XXXX Company the Officer one its call its Chief Nuvve. press regarding Operating transaction another Officer; call and Partners. Infrastructure

Following open prepared call the we remarks will for questions.

like begin I remind we may Before call contain statements. would to you this forward-looking

While forward-looking and current uncertainties our best are These discussed are would of projections. these over those reflect SEC to revise judgment, risks cause could Poilasne, subject forward-looking Officer Nuvve. from update actual risk which any available results today, Chief and release factors to circumstances. to Gregory? issued reflect earnings that Nuvve forward-looking or on periodic in to obligation the Executive undertakes that the statements in call or to differ turn these they events filings With by to Nuvve's materially are no statements Gregory website. future like I implied

Gregory Poilasne

business form at we've highlighted the hard is founding company, we everyone. morning, this Infrastructure outlook alongside I an our agreement of venture results. XXXX. team and exciting we the Nuvve's completion hear go-forward developments, results and few Nuvve's that company joint opportunity public today are since Partners David through good Acquisition been remaining to you as of It's have work the of to for the Newborn we had recognize and background Corp. excited cause to following begin forward our accomplished in of venture our the the build by months joint and our financial Joe, a walking the you, story. as to kick as strategy. off year. journey all But to To the as well has recent our been continuing today I'm to on you others Stonepeak our that new other earnings a with Thank first start, public transaction some are likely with and, clear looking Ted, a announced This

transition take how Nuvve So, largest transformational on At a is and we with and offering. minutes driving a want in megatrend and, The I for customers through technology to and electric the to our to an opportunities on turnkey capitalizing climate our a team our are are the change. walk focused few accelerate differentiated our to value ultimately, to among shareholders. mobility solutions proprietary experienced compelling mobility the technology, macroeconomic shift lifetime, we

supporting scalable cost is of GHG of for the energy sustainable whilst vehicle to vehicles renewable emissions. mission green lower ownership and electric Our for society. XX% US Road of the integration account

climate challenges harmful is In The than are to which solving XX% rapidly we fact, vehicles emits road emissions. face. other electrifying, is and the sector transportation transportation of sector the than transportation any more more key world pollutants

plants. transportation. grid load a investment harness opportunity parked, the hidden already often XXXX, upgrades vehicles But the for the grid to are result And if be to the we this our homes opportunity average tremendous the vehicles power This of $X EV result would hidden advantage X.X in covering turn according opportunity. in in the that Nuvve to equivalent on At battery is we XXXX XX% to XXX of could XX% we trillion necessary We Today, strained. However, This could there households. the years. on. a an electrification increase in electric of on is to DoE, by a is lights total forecasted of on in keep increasingly US is demand in electricity time. road in US into million the transportation expected unused all globally take power increase

store how grid a vehicle your safely in nothing controls do energy [indiscernible] system driving save while this from electric we is perform seamlessly including always to batteries then it? it to grid electric EV of not back do [indiscernible] to point We do internally energy of it's So, vehicle only use. from vehicle utilizes the part for when view. to behind-the-scenes, extraordinary or bill renewables. everything technology VXG ready but the plug Nuvve's needs. ensuring vehicles needs most when owner's set remain And your technology always vehicle's how which electric also set-up do platform appropriate. to VXG to power grid in are do [indiscernible], vehicle, your of of control According charge. the you on grid services money will an needed pull discharges charging Simply it are determine you that - the most. make the not enables and

or Our of technology multiple virtual through batteries into multiple EV vehicle power enables in a locations VPP. plant stations electric charging aggregation the

capability of today sell rates through of electricity acquired when the market cost station, and VXG these charging than backed vehicles of include our hours for utilization, with of there. are be is today research This of to that Kempton ownership improvement battery longest cost revenue ownership how VXG the energy XX customer increased total in over ED vehicle since led Nuvve the and penetration. year with Our the penetration and five patented nearly lowers by per can $X,XXX the of is the is acceleration on customer continents, aggregated grid earn resiliency ready Delaware Nuvve's the starting trillion. development than a in of connected for lower Each deployment monetizing of has Nuvve's totaling is helps customers by of and using and per XXX the vans. There XX% an of the to Professor a of acceleration electric shared outfitted GIVe of aggregation University revenue the our during market set generating renewable the The to vehicles our technology to customers. total working reduction by five benefits our years standing and our over called save started -- large-scale kW and of is platform the technology a of challenge. These deployments Nissan technology opportunity low. years of major occupation life at EVs vehicles about is This Willett small cost help my back XX vast, the XX XX money PDM, level platform and of Denmark intelligent more of This ago. is VXG are operations Nuvve. market example the charging eNVXXX years with in rather solve more partner originally technology. climate kWh on the capable service has Frederiksberg, $X With vehicle. been An of grid nonpeak to XX

and when the mass focus. of We considered resiliency. the buses have day transit that are technology identified sit particular are area grid US by at distribution the during application in largest of of our stress given area because buses electric and far key high mutual the increases most. need times from the equipment, ideal They grid power fact in idle a fleet VXG of aggregated electric school are demand the here consistent the fleet buses? and the Why most of ease which their market School salability. of traceable into as times off they of for are the summer, power utilities Discharging and these take route focus

would also the cost electrifying school has strong equivalent to from addition, students, gaining for of while and be drivers we cost impacting which has a vehicles. tremendous can buses. acres and XX% of often trees. school health all the But district. to X.X planting a an million obstacles equivalent Today The US, would XXX extremely of it buses electrification bus buses support administration. electrifying diesel are In represents school in the school momentum these planet. of for current upfront the million benefit electrify of the been bus prohibitive electric Recently, opportunity electrification the passenger to is school remain possibly today, If be

market, unique needs has electric specialized requires across managing buses addition, district Financially expertise concerns. finance. power and -- school school policy technology, and In finally, each -- sorry

We need would believed the to that supercharge a XXX% order solution. we have financing always electric in adoption vehicles infrastructure certainty of

joint to say with the venture buses. the electrification infrastructure plan our to enhancing of joint in a VXG to result, strategy Stonepeak joint to with services, step financing customized of announce solution closing, JV structure, technologies and associated proprietary vehicles, service will our on Levo's to more Levo, Stonepeak. deploy deliver business, That infrastructure. seamless to continue focus the is initial provide management a me for fleets and under core maintenance support is Upon through together experience excited our our let and technology, bring customer fleet. an venture transportation $XX David with grid are form energy. electrified our we with As solution investor valuable a partnership us million will we an with of VXG school leading how announce a providing infrastructure, details but Stonepeak's in to and are venture to and expanding this forward excited ability a is the significant agreement transportation to and more investing important and electric offering billion the regarding plan Stonepeak. $XXX Levo specific the experience charging provide assets customers. fund will assets up a create to to

fleet, fleets, vast delivery, will While sharing such mile Levo be and fleet municipal the a of focus opportunity ride as hailing as we services. see well in verticals as commercial order buses ride school last initial

back our our about climate to challenge. that Levo future shareholders value reach address be of us creating expanding planet for just and drive can electric our enables, technology of to strong meet partnership capital a and vehicle VXG chain the helping Nuvve We while equitable needs beginning Levo's a also that We this and the approach set to we partners deliver partnership just relationships is partners replicated a revolutionary differentiated of the deliver partner the Bringing technology. believe differentiated have believe Nuvve more we funding table. are scaled excited work creation this with the owners our developers, brings and and that to widespread industry including OEM to Upon our with enable Stonepeak customers of technology solution much value a operators will will to more sizes. offering. fleet infrastructure with solution and we continue closing global well-regarded complement all whom the intend of than our of with will the across greener to and believe Nuvve's work strong revenue. mission, acceleration to deployment the with We

lead I Before to want Ted, Jesse Hennessey key Tim turn recently President the Development, a will Bryson TaaS to offering. We effort recently across Officer, over the that of to around the and drive our team. highlight Tim our Joint added Utility to help appointed I markets, revenue will and Vice Deployment. Recruitment our Joint opportunities key call and and Revenue lead as as Chief and hires solution were and Venture few VXG strategies Jesse deploy VXG

AI Advanced having years for renewable Tim formerly in Microgrid XX SVP SGIP, California served developed the the company space. as an storage at Global storage, Program, helm energy for Jesse last the energy extension Incentive the and Solutions, storage has energy in Self-Generation XXXX. the Market of For software Development been

Moran protection. our focusing segments property mobility public as Officer company Chief in Counsel decades brings and who IOC of telematics, Steve Legal appointed intellectual on experience we patents and Additionally, General

these excited and valuable leaders all to our experience business. will three that which are relationships We welcome industry enhance bring

be We Ted. about turn that to excited the will of future and call Nuvve continue to it over with the

Ted Smith

March, valuable buses first that. industry Thanks, of school partners some Blue our and partnerships With VXG we've the us exciting technology the a partners bus accomplished more with Cummins to and a utilizing Rhombus. operational and to Gregory. affordable Nuvve. technology delivered capable our business and the I Newborn. of electrification buses VXG from first Bird Blue We make combination mission efficient of with leader the been we want work are built school school series deployment to school completed its bus Nuvve's In that's the since we positions Uber, of highlight announced on do Bird, VXG at recently

that explore in the to of Edison The e-buses York economic Con with project to converted Edison's approximately goal make is a in from reliability. quality use school potential buses air to and announced York City wider recently a also Electric on using grid. e-buses New in We in technological VXG scale X,XXX to electric we are New this project on provide Plains, partner difference to Westchester we to X,XXX power Lion grid whom operating collaborate improve the if White and a -- There Con significant and environment capability. to could which with

alliances variety to manufacturers to truck, building diesel President of we objectives with are enable both helping plan. and we business Heavy achieve a we are We costs opportunity and leading very a the for short, eventually remains fleets building in VXG-enabled much with ahead. a infrastructure case school VXG of and which that the replace duty our the competitive prices, right refuse segments therefore the of where of now, rollout and will aggressively are the at believe pipeline go at have bus national We're battery working forefront shuttle, In also working down. are utilities school truck and duty as significant with Biden's light infrastructure buses bus very delivery OEMs. transit compelling deployments buses we

see, David. stakeholders. you We'll the have now drive will believe significant lot of turn value forward shareholders to developments. to update you that other and momentum we Company, over underway And our look As exciting our continue we and I'll a call partnerships for to on these can

David Robson

Ted. Thanks,

XX, our quarter I the comment filing XXXX. release the for the Before I on our ended for morning made disclosure this go the we financial in March over wanted quarter, briefly regarding of press the to XX-Q results

reporting regarding we analysis result the recent by the the As warrants, XX, extension by XX-Q. our We guidance accounting SPAC-related provided raised to reporting on our of SEC SEC. the file require with related extension file order companies April and to XXXX SEC to for to this the of and a accounting intend complete in an policies the

statements for We first our costs. as commercial analysis results, in primarily of station liabilities quarter product US. provide financial in With should our Newborn's more and of and part future the consisted year some, financial this this market date. liabilities which last ongoing were attributed were cost revenues or an funded of of be the restated $X.X our our to warrants primarily financial goods such analysis or of require compared the quarter customers. to expect services million a accounted revenue the includes XXXX our related to previously charging service not have efforts equity ended we position, remainder the $X.X sales such XXXX, issued XX%. revenues press by the This of increased of year, I'll the Cost product some The $X.X been Cost analysis. be project total to $X.X and for of a in million marked However, the not in first to of grant for our the of as we and a million the in functionality million current financial first decrease as the more or me today's with decrease SG&A the the issued and for for results revenues the each warrants charging and of XXX% will final reporting grants release, to million to as quarter now of of do Then information service PIPE will change increase on is the combination. public to $X.X the XXXX, for Company's generated for quarter loss revenues $X.X the is XX, an of was million for smaller the The million $X.X that in $X.X financial until issued our the the following of XXXX may the due for XX-Q position ended to delayed year. filing completion million expenses XXXX, for Because as increase the of of for quarter The be expenses conclusion first-quarter million focus is transaction quarter warrants or due $X.X and in a stations initial disclosed whether compensation platform's that reached. first overview decrease a increased revenue. In offering with believe evaluating increase result of March quarter outlook of Net associated attributable expenses to from offering an first into Newborn's vehicles. that million. all, the if current Form from R&D PIPE million expenses analysis advance Newborn. XX, primarily our statements the is was in to by the $X.X million of of of Newborn. million were increase reclassified quarter The compensation the primarily be to last the compared let first an historical subcontractor results fees $X.X year. completion December of deferred with our XXXX. we get and expenses business compared quarter quarter for in used XXXX was $X.X including integration the increase which professional compensation and $X.X the -- will

from quarter end current Inventory end million approximately insurance cash by investment. of remain March million $XX the turning the million $X.X our XXXX, sheet million We the with XX, The and $X.X transaction used at PIPE of the levels Now charging increased we the million to at of end Prepaid combination, of driven million position program. fourth fourth balance the to by first our the accrued a our D&O year. quarter. of fourth increase at strong in first and anticipation future. balance of in funding first operating for associated inventory on to the increased current and completion of expenses million $X.X the of our our in flows quarter quarter the expenses $X.X during million by We XXXX increase increased with was end our The business $X.X in at quarter million our $X.X at sheet, XXXX, prepaid at higher by quarter the million had cash increased from the as higher the the primarily installations expenses in in from of of end $X.X XXXX, year. station $X.X position $X.X due insurance. the $X.X inventory Accounts of quarter D&O from the was associated expenses million the the accrued current increased of the of of end with and year. payable amounts to the

Finally, $X based a stock XXXX, exercising share had $X repurchase million, associated share preceding price stock of exercised of of price March the price is closing EDF average sell over paid with million option back the completed The to of approximately $XX.XX. per renewables, the XX, April at the liability its we was upon option. trading worth after to at Company was days XX, common Nuvve XXXX. five shares EDF per The which share on a

to Levo, terms our a of outlook, the joint I'll Before turning to key Stonepeak. review form announced venture with the briefly agreement

of up $XX to Nuvve's in varied at Stonepeak well deploying Nuvve infrastructure option XX% upsize As of to up of million. of another detailed million time B own will million preferred a aggregate conditioned certain upon also will warrants X% upon $X to will Upon also and capital the XX%. purchase shares own preferred as Levo's strike stock as a per Vesting a option commitment per own stock the is Class of and distribution X-K and closing up shares $XXX Levo X receive share. assets of with has today. warrants. to Gregory price Stonepeak the Levo common of of amounts filed will over year, of and Levo's of as Stonepeak mentioned, fund common to an the XXX% million Stonepeak formation, provide $XXX

revenue, our Now many cost projections operating as turning goods as we've you our to part and are profit process. of provided SPAC of and sold outlook, of aware, loss

achieve joint outlined in topline provide business we in underway opportunity for of As we're today offering venture and our to putting have our place we our plans work targets. and TaaS including drive revenues, us with to grow a Stonepeak, lot to

we still phases, partnerships. we While the many forward large these paths which strong revenue we believe are have from drive in to growth. customers, interest projects multiple already of have With are respect many stations. seeing significant early of And XX% for customer our negotiating, customers contracts to of gross terms and contract charging on the margins for we current to we between under gross of have the margins, are average sale are ranging the XX% we currently

per the our we totaled we development include We R&D The by million with to $X.X sales, million support the next rollout we which expenses, on headcount timing service one-time joint entity ownership currently several headcount a of of increase and million to consolidated additional $X forecasts operating cost the expenses completion do of be costs for that any and Levo, nor not expect separate new Nuvve bring first the quarters, venture, XX% with efforts. excluding product the operating and onboard. in which new depending accordance I Regarding the quarter, revenues, our business SG&A of our to in technology to $X the as associated common ongoing and be expenses, planning will stock. to expenses, range quarter between quarterly expense will are discussed just on expect

sheet at the of quarter. In Levo cash accounting completion in million we closing, more a transaction. have detail balance the treatment for upon position on the solid cash end in the with discuss our of $XX will We

the runway have additional back And believe revenues, future the generate we'll opportunities. growth long making to business a progress to and call we're expected expenses, pursue our our to that turn continue operating we grow with significant to Given I'll Gregory. and

Gregory Poilasne

prospects take points In future are we to from growth Thanks, about today's you away position Nuvve's and want summary major call. David. three there

a the and need have growing that pressuring leading EV of differentiated lower technology meets we rapidly. cost to ownership that a is First,

already have that drive revenue new and partner revenue. third, presents customers stream. future in Second, and Stonepeak venture to And well a joint our relationships opportunity place we a gain to compelling achieve customers position Nuvve

taking are us time begin excited by what of us. Operator? is now All the question that, this And back join the With operator you I to at and morning session. the ahead. Nuvve appreciate turn we to to it answer will

Operator

[Operator Instructions].

first comes Stine with Please ahead. go question Craig-Hallum. The from Eric

Eric Stine

over the months, last So, space, but about created this certainly X there's to activity it's XX not obviously, play been companies and equally. in also a they certainly pickup vehicle-to-grid talking of all how

then So, projects of about just level just what some out out to it talk involvement with number maybe if how talk what there talking it. these from is there talked And of your your to there's way about lot a broadly, or about a technology, is are about. differs that other the relative a of companies maybe of

Gregory Poilasne

a question. good is This

the and that answer to VXG -- I'd like in two One infrastructure I'd the decompose is implementation way the communication. is aspects. think I

gets that the would to to That like back has either top ability to where necessary just the get back energy step. that relates the on order decisions. we to makes [indiscernible] at decisions that that part, that specific And a of in certain pushing a is bi-directional but often piece focus our from is the charger are into don't too information But and station and capability, the VXG Delaware, have, that's know or make is they a vehicle capability from the of step about inside right, the have is the grid DC. that the onto the DC not communication taking interesting that's that And So, you very basically is two is the the one cloud AC that inside appropriate talking also infrastructure to then but the also lot the and And bi-directional there. grid time. at onboard that other And need that grid. people then of to the gets covers AC when charging to to want talk all having and dispatch University and first are get of there vehicle And you this the aspects. battery what's technical, data. I are On communication platform a the piece. in information terms needs variable platform, the the really about to how all bi-directional it why those the IP about

In of [indiscernible] of be acknowledged has I one considered ability virtual able power client have across [indiscernible] multiple only terms services variety platform markets our human the are to a that really to the we energy a -- do we all and management. a across use knowledge having energy optimization today can do response going one that the only of to ability who variety and a to as markets. across continents plant are a is that. sometimes People of these from pre-consolidation to today of do to time charge are doing one those, platform the but that

Eric Stine

do that. there? or there to And be you details specific helpful. can joint that that which would have Got you just Stonepeak be to initial your pipeline Or for can signed any this it, very helpful that plan Or opportunities $XXX mean, you guess on upsized? with are capabilities, form share I targeted million, I know details venture I speaks maybe why on that. any

Gregory Poilasne

first Stonepeak all, with excited So, we work of the team. very, to very are

so process a been through have opportunity due shared some Obviously far. know the very and -- I been see and altogether great the diligence validating Stonepeak we've building tremendous validating we we've last been deep few what there. Over relationship has going done all months and we've

point start But to not share very Now those. the opportunities lot a about position able more near some we'll opportunities. sharing a future of detail be in are We're these to definitely the this in at arising.

I and will think this exciting. -- think be I very, very So

David Robson

and add need we've would that is that, long-term objective to I funding. of just announced space just we in Difficulty] been talked today, [Technical capital it's our for only but this part this There long-term a it. about agreement

venture is capital this that step Stonepeak providing to announcing and joint the the strategy. this put forth first So, with

Eric Stine

Because kind it. And mean, just you're from to going of is districts would topic. that it. that receptive see there's school last are maybe Maybe level got Yep, I how to just educate just me, of plans. And with talk that starting third-party one needing you're some financing a solution that. of outside potential districts seeing what think your options, then I sticking to forward. about school

Gregory Poilasne

and to is points very I'd important a different right, school be we [indiscernible] many there, it's in on think earlier. that of ways. work flexible One districts that couple I because kind addressed

achieving idea, of remain to buses. And we And be be set, it's billion to have things other I of opportunities. adjust administration takes about these school that very is convert those owner/operator. to that electrified partnerships as to it have Nuvve, The that. the has need to important working that -- today, an all few and excited we a give we And to $X emphasize of on also, are we [indiscernible] X% very able XX% the you bus developers so, some to about

buses. order over about be to So, the XX% $XX is in need of years used billion convert XX% next the to school that four will

is as are there we already that, a see many So, as solution we that opportunities today. work to complementary some said, underway and

I emphasize think to here. want I So, that's your point addressing what on

Operator

ahead. Partners. question Please next Erwin go from comes with ROTH Craig The Capital

Craig Irwin

nature be far X Can your controversy progression bit in for that you Gregory, can million that that that projects. XXXX? of size think, for I of asking what's know business then been your number you make? shares a million individual revenue a reasonable XX-K. $XX people little us? you make, realistic year. So, given a going of confidence for Is XXXX of in this But target, is there's you outlook. your out as the out and you is A revenue gives the can earn the as something confirm what based understand revenue lumpy, the that's And filings to is something for the outlook an that on there have the lot I

Gregory Poilasne

able to achieve to working see to are sure So, it. definitely important your analysis multiple be We make is paths and there. piece an get we'll we hard

build paths be accurate. Now very you to are And we make to those want as you forecast we when lumpy. sure a said, tend

bit be I venture with The shares, here the means light we bring future be the also that and other will Levo, of at we'll look complexity that. do XX% little are more from But give owner the to the some and David Stonepeak and at revenue a consolidating to common thing it. in how which we'll need actively as joint let looking we very will -- we

Revenue for you David, And the can tell working to you Company. are order want to progress in how makes you on anything? on with I the to work us said We Officer, and there earlier, as the that And makes setting on these for sense well, that you sense we to Tim metrics. really up also, want way us Chief Hennessey, of we as our keep a do communicate to set that. for we bringing tracking actively add is up matrix very

David Robson

are partnerships I a Yes, I customers, we with. strong of have mentioned many in my and said, which remarks, interest mean Gregory we already as from large very seeing

to to So, our another in we venture revenue TaaS paths growth. And Stonepeak drive joint we as offering business. top-line would mentioned, hit there's are I call targets. with multiple is early think opportunity an stage out the Gregory our

You revenues this, mentioned lumpy. can be

guidance was the gave forward. going are that on we what forward. so, business going drive update our provided SG&A partnerships to an formally on we some more then And expenses And specific

Craig Irwin

and about question Levo I If specifically understood. a Understood, could ask Stonepeak.

the into at vehicles in the And revenue you look invested would the like in and potentially it of that range identify buses in use capacity Or system. the for of if capacity in we there to as million in cost services here invested $XXX you in million the see translate this front-end school breakdown if we in of $XXX expect revenue like pieces taxis fully be of of first that looks ballpark? school buses. that your It So, other Is well? release, and commercial and could the total potentially the something other investment the sort will buses? electric versus Nuvve, largely school was

Gregory Poilasne

I you a think [indiscernible]. that the here So, good is did calculation

opportunity provide fleets doing. of But interest we want in the vehicle. that tons we about lot bus of a the us. space. becomes is And school XX that the over said, transportation see great as the you a And to in In other of what entry of the assumption. a also school the recurring so, right, are We life case good electrification is many present to -- a a of [indiscernible]. And bus, years support point across revenue,

truck are the of during all shuttles, to using are municipalities call as vans, school next there to so, pickup delivery months. the municipal well, refuse few trucks, that point, that addressed the vehicles Ted available buses, today, are over type be And your vehicles usually that many segments going those

to to to the And are that managing with are be very our going we of so, part be platform. and assets vehicles VXG attractive convert those

Craig Irwin

last are to tends the in most Great. deliveries you question at Or window? the for very bus of it the Nuvve installations possible of outside Do year? to throughout we then factor typical of play see rest if where similar deliveries points for of the done And big Seasonality the installations large then incremental school August and I market. be infrastructure made, and and July it see seasonality of a seems may. you really most is that expect that sort

Gregory Poilasne

of I the don't the change think to going seasonality associated we're with acquisition buses. school

seasonality think but have on I -- larger [indiscernible] is Now, more a when a year, remain. that flat That that. from the you distribution the overall bus electric where school there's might another on to more window transition do the will

is out seasonality much our new assets Then not think that I the terms earnings. assets that going of show think on as in there. in are probably in roll revenue, the will we seasonality be overall to of deployed, -- once So, I the [indiscernible] terms

Craig Irwin

Thank you. Congratulations on a very successful process. coming public

Gregory Poilasne

Thank you.

Operator

This concludes I our to Poilasne closing for like the conference back would over remarks. any Gregory session. question-and-answer turn to

Gregory Poilasne

and Thank us. We listening you you much. coming appreciate very to

electric want Stonepeak. addressing of emphasize, commitment and need and possible terms we see challenge. largest fleets also this supporting and And partners as very I in at engage opportunity point, the many are fleets. -- we of of the supporting with many with climate but is the deployment opportunities electrification in we to this probably, This think the excited I about the size as support to to

to you want this thank to morning. listening So, for again, us we

we're and looking forward for Thank call very excited QX. very you are in next our We much.

Operator

The conference has now concluded. Thank you for presentation. attending today's

may You now disconnect.

Nuvve Holding (NVVE) 17 May 212021 Q1 Earnings call transcript