Nuvve Holding Corporation (NVVE)

Nuvve Launches Monthly “European Power Market Brief”July 1, 2026 9:15 AM
Business Wire Complimentary monthly review of European day-ahead and balancing markets reflects energy storage growth in Europe Nuvve Holding Corp. (Nasdaq: NVVE) (“Nuvve” or the “Company”), a clean-energy technology company specializing in grid-scale battery energy storage and vehicle-to-grid (V2G) solutions, today announced the launch of the European Power Market Brief, a free monthly publication reviewing price trends, market drivers and the near-term outlook across European day-ahead and balancing markets. The inaugural issue (Issue 01, July 2026) reviews June 2026 and sets out the outlook for July and August. It examines the Nordic hydro situation, a seasonal single price driver, natural gas impacts on energy pricing during low-renewable hours, the influence of solar on midday and negative-price hours as well as commentary on the implications for balancing and dispatch, the markets in which flexible energy-storage assets compete. Drawing on public data from sources including the ENTSO-E Transparency Platform, EnergiNet, NVE and Open-Meteo, the brief will provide operators, investors, partners and policymakers with a consistent monthly read on the conditions shaping European power prices. It is published as market commentary for information purposes only and does not constitute investment advice, a recommendation, or an offer of any product. “Europe’s power markets are increasingly where the volatility and the value sit, and that is exactly where Nuvve is focused,” said Gregory Poilasne, Co-Founder and Chief Executive Officer of Nuvve. “We wanted to share the same market read we follow internally in a clear, accessible format that anyone tracking the European energy transition can use month to month with an initial focus on the Nordics that will expand over time to the whole of Europe.” The European Power Market Brief will be published monthly. To subscribe or send feedback, contact info@nuvve.com. About Nuvve Holding Corp. Nuvve powers the future of flexible energy by turning batteries, electric vehicles (EV), buildings, and distributed assets into dynamic grid resources. At the core is Nuvve’s advanced platform for intelligent energy management and vehicle-to-grid (V2G), orchestrating real-time bidirectional charging, load optimization, and grid services. By harnessing an ecosystem of electrification partners, fleets, stationary storage, and smart EV chargers, Nuvve helps utilities and communities unlock flexibility at scale — enhancing reliability, accelerating electrification, and lowering costs. Nuvve enables a clean energy future where mobility, buildings, and infrastructure work together to support a more resilient, sustainable, and equitable grid. Headquartered in San Diego, California, Nuvve operates globally and online at nuvve.com. 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 the 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). These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in 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 businesswire.com: https://www.businesswire.com/news/home/20260701121337/en/ Media Contact:
Paulo Acuña
310.824.9000
pacuna@olmsteadwilliams.com Original: Nuvve Launches Monthly “European Power Market Brief”

Nuvve Announces 1-for-18 Reverse Stock SplitJune 30, 2026 4:05 PM
Business Wire Nuvve Holding Corp. (“Nuvve” or the “Company”) (Nasdaq: NVVE), a global leader in grid modernization, vehicle-to-grid (V2G) technology and grid-interactive energy solutions, today announced that it plans to effect a 1-for-18 reverse stock split of its common stock, that is expected to become effective as of 12:01 a.m. Eastern Time on Monday, July 6, 2026. Nuvve’s common stock is expected to begin trading on a split-adjusted basis commencing upon the market open on Monday, July 6, 2026. Following the reverse stock split, the Company’s common stock will continue to trade on The Nasdaq Capital Market under the symbol “NVVE” with the new CUSIP number, 67079Y506. At the effective time of the reverse stock split, every 18 shares of Nuvve’s issued and outstanding common stock will be automatically converted into one issued and outstanding share of common stock without any change in the par value of $0.0001 per share. The reverse stock split will reduce the number of issued and outstanding shares of the Company’s common stock from approximately 9,443,731 shares to approximately 524,652 shares, subject to adjustment for fractional shares. The total authorized number of shares will not be reduced. Proportional adjustments will be made to the number of shares of common stock issuable upon exercise or vesting of the Company’s outstanding stock options, restricted stock units, and warrants, as well as the applicable exercise or conversion prices, and to the number of shares issuable under the Company’s equity incentive plans and other existing agreements. No fractional shares will be issued in connection with the reverse stock split, and fractional shares resulting from the reverse stock split will be rounded up to the nearest whole share. With respect to outstanding common stock held in “street name” through a bank, broker or other nominee, fractional shares will be rounded up at the participant level. Cash will not be paid for fractional shares. At the Company’s special meeting of stockholders held on June 23, 2026, the Company approved, among other things, a proposal granting the Company’s Board of Directors the discretion to amend the Company’s certificate of incorporation to effect a reverse stock split of the Company’s common stock at a ratio of not less than 1-for-2 and not more than 1-for-18. Following the special meeting of stockholders, on June 23, 2026, the Company’s Board of Directors approved a 1-for-18 reverse stock split ratio. The reverse stock split is being implemented with the goal of bringing the Company into compliance with the minimum bid price requirement of $1.00 per share of common stock for continued listing on the Nasdaq Capital Market. Nuvve’s transfer agent, Continental Stock Transfer & Trust Company, will provide information to stockholders regarding their stock ownership following the reverse stock split. Stockholders holding their shares in book-entry form or through a bank, broker or other nominee do not need to take any action in connection with the reverse stock split. Their accounts will be automatically adjusted to reflect the number of shares owned. Beneficial holders are encouraged to contact their bank, broker or other nominee with any procedural questions. About Nuvve Holding Corp. Nuvve powers the future of flexible energy by turning batteries, electric vehicles (EV), buildings, and distributed assets into dynamic grid resources. At the core is Nuvve’s advanced platform for intelligent energy management and vehicle-to-grid (V2G), orchestrating real-time bidirectional charging, load optimization, and grid services. By harnessing an ecosystem of electrification partners, fleets, stationary storage, and smart EV chargers, Nuvve helps utilities and communities unlock flexibility at scale — enhancing reliability, accelerating electrification, and lowering costs. Nuvve enables a clean energy future where mobility, buildings, and infrastructure work together to support a more resilient, sustainable, and equitable grid. Headquartered in San Diego, California, Nuvve operates globally and online at nuvve.com. 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 the expected timing and implementation of the reverse stock split and the commencement of trading of Nuvve’s post-split common stock and Nuvve’s ability to maintain compliance with Nasdaq’s continued listing requirements. 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). All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. Nuvve does not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise except as required by law. View source version on businesswire.com: https://www.businesswire.com/news/home/20260630426589/en/ Media Contact For Nuvve
Paulo Acuña
pacuna@olmsteadwilliams.com
310.824.9000 Original: Nuvve Announces 1-for-18 Reverse Stock Split

Nuvve Announces Receipt of Nasdaq Notice on Late Filing of Its Form 10-QMay 22, 2026 6:30 PM
Business Wire Nuvve Holding Corp. (“Nuvve”) (Nasdaq:NVVE), a global leader in advanced energy storage, grid modernization solutions and vehicle-to-grid (V2G) technology, today announced that it received written notice (the “Notice”) on May 22, 2026 from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, since the Company had not yet filed its Quarterly Report on Form 10-Q for the period ended March 31, 2026 (the “Report”), it no longer complies with the Nasdaq's Listing Rule 5250(c)(1) (the “Rule”) relating to the Company's obligation to file periodic financial reports for continued listing. The Notice stated that this matter serves as an additional basis for delisting the Company's securities from Nasdaq. The Notice further stated that the Company can request an appeal from Nasdaq’s Hearings Panel (the “Panel”) and a request for a hearing regarding a delinquent filing will stay the suspension of the Company's securities only for a period of 15 days from the date of the request. The Notice further stated that since the Company is already before the Panel because the closing price for the Company’s common stock had fallen below $1.00 per share for 30 consecutive trading days under Nasdaq Listing Rule 5550(a)(2), the Company will have seven days, or until May 29, 2026, to request a stay of the suspension, pending the Panel’s decision and then the Panel will review the request for an extended stay and notify the Company of its conclusion as soon as is practicable, but in any event no later than 15 calendar days following the deadline to request a further stay. The Company intends to timely request a stay of suspension, pending a decision from the Panel. The Company is working to satisfy Nasdaq's requirements in a timely manner. In the event that the Company regains compliance with the Rule prior to any scheduled hearing date, then a hearing may not be necessary, as the Company may be mooted out of the hearings process. The Company intends to take all reasonable measures available to regain compliance under the Rule and remain listed on Nasdaq. About Nuvve Holding Corp. Nuvve powers the future of flexible energy by turning batteries, electric vehicles (EV), buildings, and distributed assets into dynamic grid resources. At the core is Nuvve’s advanced platform for intelligent energy management and vehicle-to-grid (V2G), orchestrating real-time bidirectional charging, load optimization, and grid services. By harnessing an ecosystem of electrification partners, fleets, stationary storage, and smart EV chargers, Nuvve helps utilities and communities unlock flexibility at scale — enhancing reliability, accelerating electrification, and lowering costs. Nuvve enables a clean energy future where mobility, buildings, and infrastructure work together to support a more resilient, sustainable, and equitable grid. Headquartered in San Diego, California, Nuvve operates globally and online at nuvve.com. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the 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 ability to regain compliance with the Nasdaq continued listed rules and maintain the listing of its common stock on the Nasdaq, the timing and outcome of the Company’s request for a stay of suspension, the decision of the Panel, 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). All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management’s assumptions and estimates as of such date. These forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. Nuvve undertakes no obligation to update any forward-looking statement except as required by law. View source version on businesswire.com: https://www.businesswire.com/news/home/20260522205364/en/ Media Contact: Tracy Williams
tracy@olmsteadwilliams.com
310.824.9000 Original: Nuvve Announces Receipt of Nasdaq Notice on Late Filing of Its Form 10-Q

Nuvve Announces Postponement of First Quarter Ended March 31, 2026, Financial UpdateMay 15, 2026 6:00 AM
Business Wire Nuvve Holding Corp. (“Nuvve”) (Nasdaq:NVVE), a global leader in advanced energy storage, grid modernization solutions and vehicle-to-grid (V2G) technology, today announced that it will postpone its previously scheduled earnings press release and conference call for the quarter ended March 31, 2026. The conference call was previously scheduled for Friday, May 15, 2026, at 5:00 PM Eastern Time (2:00 PM PT). Nuvve intends to announce a new date and time for its earnings press release and conference call for the quarter ended March 31, 2026. About Nuvve Holding Corp. Nuvve powers the future of flexible energy by turning batteries, electric vehicles (EV), buildings, and distributed assets into dynamic grid resources. At the core is Nuvve’s advanced platform for intelligent energy management and vehicle-to-grid (V2G), orchestrating real-time bidirectional charging, load optimization, and grid services. By harnessing an ecosystem of electrification partners, fleets, stationary storage, and smart EV chargers, Nuvve helps utilities and communities unlock flexibility at scale — enhancing reliability, accelerating electrification, and lowering costs. Nuvve enables a clean energy future where mobility, buildings, and infrastructure work together to support a more resilient, sustainable, and equitable grid. Headquartered in San Diego, California, Nuvve operates globally and online at nuvve.com. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. Nuvve undertakes no obligation to update any forward-looking statement except as required by law. View source version on businesswire.com: https://www.businesswire.com/news/home/20260515122356/en/ Media Contact:
Tracy Williams
tracy@olmsteadwilliams.com
310.824.9000 Original: Nuvve Announces Postponement of First Quarter Ended March 31, 2026, Financial Update

NVVE.............................https://stockcharts.com/sc3/ui/?s=NVVE&p=w&b=5&g=0&id=p86431144783

Nuvve Provides Fourth Quarter and Full Year 2025 Financial UpdateMarch 31, 2026 4:30 PM
Business Wire
Investor Conference Call to be Held Today at 5:00 PM Eastern Time (2:00 PM PT)


Nuvve Holding Corp. (Nuvve) (Nasdaq: NVVE), a global leader in advanced energy storage, grid modernization solutions and vehicle-to-grid (V2G) technology, today provided a fourth quarter and full-year 2025 financial update.


Fourth Quarter Highlights and Recent Developments



We raised $8.1 million in gross proceeds through a private preferred stock offering, warrants exercises and debt obligations during the fourth quarter of 2025 to support our operations and growth initiatives



Total revenues were $1.9 million for the fourth quarter of 2025 compared to $1.8 million for the fourth quarter 2024



Gross profit margins were 24.2% for the fourth quarter of 2025 compared to 15.8% for the fourth quarter 2024



Cash operating losses were $1.5 million in the fourth quarter 2025 compared to $4.9 million the fourth quarter 2024



Reduced operating expenses excluding cost of sales and inventory impairment by $2.2 million in the fourth quarter of 2025 to $3.7 million compared to $5.9 million in the fourth quarter of 2024



We had $5.5 million in cash and cash equivalents as of December 31, 2025 compared to $0.4 million at December 31, 2024.



Management Discussion


Gregory Poilasne, Chief Executive Officer of Nuvve, said, “We were disappointed with the slowdown of EV adoption in the school bus market and the decline in revenues in 2025. We previously announced that we have pivoted our business strategy towards stationary storage aggregation services, and have seen an increase in our pipeline and backlog for stationary battery projects which we anticipate will accelerate the scaling of our platform in North America, Europe and Japan.”


2025 Fourth Quarter Financial Review


Total revenue was $1.95 million for the three months ended December 31, 2025, compared to $1.79 million for the three months ended December 31, 2024. The increase in revenue was attributed to increase in products due to higher customers sales orders and shipments, and increase in grants revenue, partially offset by decrease in services revenue. Products and services revenue for the three months ended December 31, 2025 consisted of sales of DC and AC Chargers of about $1.39 million, grid services revenue of $0.01 million, and engineering services of $0.34 million, compared to sales of DC and AC $1.18 million, grid services of $0.01 million, and engineering services of $0.51 million for the three months ended December 31, 2024. The decrease in service revenue is due to the absence of management fees earned related to the Fresno EV infrastructure project. We stopped accruing management fees earned for the Fresno EV infrastructure project during the second quarter of 2025.


Cost of product and service revenues was $1.46 million for the three months ended December 31, 2025, compared to $1.50 million for the three months ended December 31, 2024, a 2.8% decrease. Products and services margins for the three months ended December 31, 2025 increased by 4.5% to 16.0%, compared to 11.5% for the same prior year period. Margin was positively impacted by a higher mix of hardware charging stations sales and a lower mix of engineering services.


During the fourth quarter of 2025, we determined that certain 125 kW V2G DC Chargers held in inventory and purchased from our former third party supplier were not conforming to our commercial product reliability standards and they would no longer be offered for sale domestically. Given the commercial reliability issues with those DC chargers, we recognized a total inventory impairment charge of $3.47 million, reducing the carrying value of those inventories to zero. The inventory impairment loss is presented as a separate line item in the consolidated statements of operations due to its significance.


Selling, general and administrative expenses consist of selling, marketing, payroll, administrative, finance, and professional expenses. Selling, general and administrative expenses were $3.0 million for the three months ended December 31, 2025, as compared to $5.1 million for the three months ended December 31, 2024, a decrease of $2.1 million, or 40.9%. The decrease during the three months ended December 31, 2025 was primarily attributable to decreases in compensation expenses of $1.7 million, including share-based compensation, decrease in public company related expenses of $0.6 million, decrease in travel-related expenses of $0.2 million, decrease in office related expenses of $0.2 million, decrease in information technology related expenses of $0.1 million, partially offset by increase in insurance related expenses of $0.4 million, and increase in legal expenses of $0.3 million.


Research and development expenses increased by $0.1 million, or 12.1%, from $0.8 million for the three months ended December 31, 2024 to $0.7 million for the three months ended December 31, 2025. The increases during the three months ended December 31, 2025 were primarily attributable to increases in compensation expenses and subcontractor expenses used to advance our platform functionality and integration with vehicles and stationary batteries.


Other income, net consists primarily of interest expense, change in fair value of convertible notes, change in fair value of warrants liability, sublease income and other income (expense). Other income (expense) was $0.38 million in other income for the three months ended December 31, 2025, compared to $0.52 million of other income for the three months ended December 31, 2024, a decrease of $0.14 million of income. The decrease during the three months ended December 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 was $6.3 million for the three months ended December 31, 2025, compared to $5.1 million for the three months ended December 31, 2024, an increase of $1.2 million or 23.7%. The increase in net loss was primarily due to a increase in operating expenses of $1.2 million, partially offset by decrease in other income, net of $0.1 million and increase in revenue of $0.16 million.


Net Loss Attributable to Non-Controlling Interest


Net loss attributable to non-controlling interest was $0.23 million and $0.03 million for the three months ended December 31, 2025 and 2024, respectively.


Net loss is allocated to non-controlling interests in proportion to the relative ownership interests of the holders of non-controlling interests in the entities.


Megawatts Under Management


Megawatts under management refers to the potential available charging capacity Nuvve is currently managing around the world.


Megawatts under management in the fourth quarter increased 7.2% over the third quarter of 2025, to 28.3 megawatts from 26.4 megawatts, and a 7.8% decrease compared to the fourth quarter of 2024. Stationary batteries we managed in California were decommissioned as they reached the end of their useful life. Our customer intends to replace these batteries in the future, and we are working with this customer to propose our battery aggregation services once their new batteries are installed. In Japan we elected to not continue the management of stationary batteries connected to our platform in partnership with Toyota Tsusho that we had managed for several years, given that expected future revenue generation was limited under our existing agreement. Instead we have focused our efforts in driving new business development efforts in Japan, with a focus on battery aggregation services for commercial and governmental customers throughout the country.


Conference Call Details


Nuvve will hold a conference call to review its financial results for the fourth quarter of 2025, along with other company developments at 5:00 PM Eastern Time (2:00 PM PT) today, Tuesday, March 31, 2026.


To participate in the call, please register for and listen via a live webcast, available in the ‘Events' section of Nuvve’s investor relations website at https://investors.nuvve.com/. In addition, a replay of the call will be made available for future access.


About Nuvve Holding Corp.


Nuvve Holding Corp. (Nasdaq: NVVE) is a global leader in the electrification of the planet, beginning with transportation, through its intelligent energy platform. Combining the 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.com.


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 www.sec.gov, https://investors.nuvve.com 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








CONSOLIDATED BALANCE SHEETS








(Unaudited)










 



 






December 31, 2025






 






December 31, 2024








Assets






 






 






 








Current Assets






 






 






 








Cash






$






5,467,250






 






 






$






371,497






 








Restricted cash






 






320,000






 






 






 






320,000






 








Accounts receivable, net






 






1,094,651






 






 






 






2,148,198






 








Inventories






 






800,819






 






 






 






4,591,902






 








Prepaid expenses






 






883,301






 






 






 






494,986






 








Deferred costs






 






709,286






 






 






 






417,290






 








Due from related party






 






574,503






 






 






 






—






 








Other current assets






 






1,184,704






 






 






 






931,244






 








Total Current Assets






 






11,034,514






 






 






 






9,275,117






 








Property and equipment, net






 






618,444






 






 






 






613,958






 








Intangible assets, net






 






1,065,705






 






 






 






1,062,766






 








Goodwill






 






96,000






 






 






 






—






 








Investment in equity securities






 






—






 






 






 






670,951






 








Investment in leases






 






98,321






 






 






 






101,415






 








Right-of-use operating lease assets






 






3,779,757






 






 






 






4,493,360






 








Deferred costs - noncurrent






 






594,558






 






 






 






564,558






 








Security deposit, long-term






 






105,782






 






 






 






15,687






 








Total Assets






$






17,393,081






 






 






$






16,797,812






 








 






 






 






 








Liabilities and Equity






 






 






 








Current Liabilities






 






 






 








Accounts payable






$






3,406,969






 






 






$






1,882,357






 








Accrued expenses






 






1,842,722






 






 






 






3,393,205






 








Deferred revenue - current






 






1,022,453






 






 






 






506,496






 








Debt -term loan






 






—






 






 






 






1,609,928






 








Due to related party - promissory notes - current






 






1,113,564






 






 






 






562,241






 








Convertible notes - current






 






616,179






 






 






 






2,475,162






 








Operating lease liabilities - current






 






860,130






 






 






 






914,800






 








Other liabilities






 






2,340






 






 






 






6,969






 








Customer deposits






 






918,631






 






 






 






—






 








Total Current Liabilities






 






9,782,988






 






 






 






11,351,158






 








 






 






 






 








Operating lease liabilities - noncurrent






 






3,558,659






 






 






 






4,254,173






 








Deferred revenue - noncurrent






 






874,779






 






 






 






771,747






 








Due to related party - promissory notes - noncurrent






 






—






 






 






 






840,500






 








Warrants/investment rights liability






 






474,023






 






 






 






699,087






 








Other long-term liabilities






 






172,089






 






 






 






170,794






 








Total Liabilities






 






14,862,538






 






 






 






18,087,459






 








 






 






 






 








Commitments and Contingencies






 






 






 








Mezzanine equity






 






 






 








Series A Convertible Preferred stock, $0.0001 par value, 35,000 shares authorized, 6,000 issued and outstanding at December 31, 2025, and zero shares issued and outstanding at December 31, 2024; aggregate liquidation preference of $6,000,000 and $0 at December 31, 2025 and December 31, 2024, respectively






 






4,958,840






 






 






 






—






 








Stockholders’ Equity






 






 






 








Preferred Class A units, zero par value, 4,900,000 shares authorized; 4,900,000 units issued and outstanding at December 31, 2025, and zero units issued and outstanding at December 31, 2024, respectively






 






166,698






 






 






 






—






 








Series 3 J-Kiss units, zero par value, 100,000,000 shares authorized; 10,090 units issued and outstanding at December 31, 2025, and zero units issued and outstanding at December 31, 2024, respectively






 






615,960






 






 






 






—






 








Class B units, zero par value, 2,500,000 units authorized; 300,000 units issued and outstanding at December 31, 2025, and zero units issued and outstanding at December 31, 2024, respectively






 






300,000






 






 






 






—






 








Preferred stock, $0.0001 par value, 1,000,000 shares authorized; zero shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively






 






—






 






 






 






—






 








Common stock, $0.0001 par value, 400,000,000 shares authorized; 2,069,882 shares issued and 2,069,840 shares outstanding at December 31, 2025; 22,624 shares issued and 22,582 shares outstanding at December 31, 2024.






 






11,758






 






 






 






6,408






 








Treasury stock, at cost, 42 shares outstanding at December 31, 2025; 42 shares outstanding at December 31, 2024.






 






—






 






 






 






—






 








Additional paid-in capital






 






193,616,119






 






 






 






164,285,336






 








Accumulated other comprehensive income






 






38,041






 






 






 






46,494






 








Accumulated deficit






 






(196,421,627






)






 






 






(165,599,076






)








Nuvve common stockholders’ deficit






 






(1,673,051






)






 






 






(1,260,838






)








Non-controlling interests






 






(755,246






)






 






 






(28,809






)








Total Nuvve stockholders’ deficit






 






(2,428,297






)






 






 






(1,289,647






)








Total mezzanine equity






 






4,958,840






 






 






 






—






 








Total Liabilities, Nuvve stockholders' deficit and mezzanine equity






$






17,393,081






 






 






$






16,797,812






 









NUVVE HOLDING CORP. AND SUBSIDIARIES








CONSOLIDATED STATEMENTS OF OPERATIONS








(Unaudited)










 



 






Three Months Ended December 31,






 






Years Ended December 31,








 






 






2025






 






 






 






2024






 






 






 






2025






 






 






 






2024






 








Revenue






 






 






 






 






 






 






 








Products






$






1,391,133






 






 






$






1,179,078






 






 






$






3,046,150






 






 






$






2,568,573






 








Services






 






349,317






 






 






 






520,742






 






 






 






1,188,581






 






 






 






2,307,679






 








Grants






 






209,411






 






 






 






86,255






 






 






 






559,211






 






 






 






409,977






 








Total revenue






 






1,949,861






 






 






 






1,786,075






 






 






 






4,793,942






 






 






 






5,286,229






 








Operating expenses






 






 






 






 






 






 






 








Cost of products






 






1,141,168






 






 






 






1,121,542






 






 






 






2,418,237






 






 






 






2,124,506






 








Cost of services






 






320,823






 






 






 






382,769






 






 






 






503,039






 






 






 






1,410,051






 








Inventory impairment loss






 






3,469,895






 






 






 






—






 






 






 






3,469,895






 






 






 






—






 








Selling, general, and administrative






 






3,028,635






 






 






 






5,126,547






 






 






 






26,752,318






 






 






 






17,671,110






 








Research and development






 






674,310






 






 






 






767,558






 






 






 






3,830,533






 






 






 






4,540,993






 








Total operating expenses






 






8,634,831






 






 






 






7,398,416






 






 






 






36,974,022






 






 






 






25,746,660






 








 






 






 






 






 






 






 






 








Operating loss






 






(6,684,970






)






 






 






(5,612,341






)






 






 






(32,180,080






)






 






 






(20,460,431






)








Other income






 






 






 






 






 






 






 








Interest expense, net






 






(235,465






)






 






 






(544,653






)






 






 






(1,955,781






)






 






 






(767,373






)








Change in fair value of convertible notes






 






(79,912






)






 






 






444,656






 






 






 






(140,575






)






 






 






444,656






 








Change in fair value of warrants/investment rights liability






 






266,601






 






 






 






1,019,946






 






 






 






940,500






 






 






 






3,662,370






 








Change in fair value of derivative liability






 






—






 






 






 






—






 






 






 






—






 






 






 






(3,626






)








Other, net






 






425,036






 






 






 






(404,825






)






 






 






1,785,948






 






 






 






(300,408






)








Total other (expense) income, net






 






376,260






 






 






 






515,124






 






 






 






630,092






 






 






 






3,035,619






 








Loss before taxes






 






(6,308,710






)






 






 






(5,097,217






)






 






 






(31,549,988






)






 






 






(17,424,812






)








Income tax (benefit) expense






 






(1,000






)






 






 






1,600






 






 






 






(1,000






)






 






 






1,600






 








Net loss






$






(6,307,710






)






 






$






(5,098,817






)






 






$






(31,548,988






)






 






$






(17,426,412






)








Less: Net loss attributable to non-controlling interests






 






(231,308






)






 






 






(28,809






)






 






 






(726,437






)






 






 






(28,809






)








Net loss attributable to Nuvve Holding Corp.






$






(6,076,402






)






 






$






(5,070,008






)






 






$






(30,822,551






)






 






$






(17,397,603






)








Net loss attributable to Nuvve Holding Corp. common stockholders






$






(6,076,402






)






 






$






(5,070,008






)






 






$






(30,822,551






)






 






$






(17,397,603






)








 






 






 






 






 






 






 






 








Net loss per share attributable to Nuvve Holding Corp. common stockholders, basic and diluted






$






(6.38






)






 






$






(230.16






)






 






$






(75.65






)






 






$






(1,076.70






)








 






 






 






 






 






 






 






 








Weighted-average shares used in computing net loss per share attributable to Nuvve Holding Corp. common stockholders, basic and diluted






 






952,168






 






 






 






22,029






 






 






 






407,435






 






 






 






16,158






 









NUVVE HOLDING CORP AND SUBSIDIARIES








CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS








(Unaudited)










 



 






Three Months Ended December 31,






 






Years Ended December 31,








 






 






2025






 






 






 






2024






 






 






 






2025






 






 






 






2024






 








Net income (loss)






$






(6,307,710






)






 






$






(5,098,817






)






 






$






(31,548,988






)






 






$






(17,426,412






)








Other comprehensive (loss) income, net of taxes






 






 






 






 






 






 






 








Foreign currency translation adjustments, net of taxes






 






(2,447






)






 






 






(27,652






)






 






 






(8,453






)






 






 






(47,182






)








Total Comprehensive income (loss)






$






(6,310,157






)






 






$






(5,126,469






)






 






$






(31,557,441






)






 






$






(17,473,594






)








Less: Comprehensive income (loss) attributable to non-controlling interests, net taxes






 






(231,308






)






 






 






(28,809






)






 






 






(726,437






)






 






 






(28,809






)








Comprehensive income (loss) attributable to Nuvve Holding Corp.






$






(6,078,849






)






 






$






(5,097,660






)






 






$






(30,831,004






)






 






$






(17,444,785






)








Comprehensive income (loss) attributable to Nuvve Holding Corp. common stockholders






$






(6,078,849






)






 






$






(5,097,660






)






 






$






(30,831,004






)






 






$






(17,444,785






)









NUVVE HOLDING CORP. AND SUBSIDIARIES








CONSOLIDATED STATEMENTS OF CASH FLOWS








(Unaudited)








 



 






Years Ended December 31,








 






 






2025






 






 






 






2024






 








Operating activities






 






 






 








Net loss






$






(31,548,988






)






 






$






(17,426,412






)








Adjustments to reconcile to net loss to net cash used in operating activities






 






 






 








Depreciation and amortization






 






329,500






 






 






 






337,971






 








Share-based compensation






 






2,432,132






 






 






 






2,620,127






 








Inventory impairment loss






 






3,469,895






 






 






 






—






 








Change in fair value of warrants liability






 






(940,500






)






 






 






(3,263,697






)








Change in fair value of convertible notes






 






140,575






 






 






 






(444,656






)








Change in fair value of derivative liability






 






—






 






 






 






3,626






 








Fair value of warrants issued for cryptocurrency strategy consulting services






 






8,194,000






 






 






 






—






 








Loss on warrants issuance






 






—






 






 






 






305,065






 








Provision for credit losses






 






990,105






 






 






 






—






 








Gains from the sale of equity investment interest






 






(244,214






)






 






 






—






 








Amortization of discount on debt and promissory notes






 






162,312






 






 






 






87,222






 








Noncash lease expense






 






721,870






 






 






 






357,118






 








Change in operating assets and liabilities






 






 






 








Accounts receivable






 






63,442






 






 






 






(148,299






)








Inventory






 






321,188






 






 






 






1,297,551






 








Prepaid expenses and other assets






 






(1,190,901






)






 






 






1,506,991






 








Accounts payable






 






1,524,612






 






 






 






196,413






 








Advance deposit from customer






 






918,631






 






 






 






—






 








Accrued expenses and other liabilities






 






(2,592,869






)






 






 






(1,422,380






)








Deferred revenue






 






622,083






 






 






 






259,026






 








Net cash used in operating activities






 






(16,627,127






)






 






 






(15,734,334






)








Investing activities






 






 






 








Cash used in acquisition






 






(340,200






)






 






 






—






 








Purchase of property and equipment






 






(57,099






)






 






 






(45,395






)








Proceeds from sale of equity investment interest






 






915,165






 






 






 






—






 








Net cash provided by (used in) investing activities






 






517,866






 






 






 






(45,395






)








Financing activities






 






 






 








Proceeds from debt and promissory notes obligations, net of issuance costs






 






9,422,198






 






 






 






6,470,500






 








Repayment of debt and promissory notes obligations






 






(3,323,948






)






 






 






(654,655






)








Payment of finance lease obligations






 






(8,267






)






 






 






(10,074






)








Proceeds from issuance of Class B units






 






300,000






 






 






 






—






 








Proceeds from exercise of warrants






 






4,296,407






 






 






 






155,060






 








Proceeds from convertible series A preferred, net of offering costs






 






4,958,840






 






 






 






—






 








Proceeds from common stock offering, including pre-funded warrants, net of offering costs






 






5,509,874






 






 






 






8,502,086






 








Proceeds from issuance of series 3 J-Kiss units






 






41,457






 






 






 






—






 








Net cash provided by financing activities






 






21,196,561






 






 






 






14,462,917






 








Effect of exchange rate on cash






 






8,453






 






 






 






(6,351






)








Net decrease in cash and restricted cash






 






5,095,753






 






 






 






(1,323,163






)








Cash and restricted cash at beginning of year






 






691,497






 






 






 






2,014,660






 








Cash and restricted cash at end of year






$






5,787,250






 






 






$






691,497






 








 






 






 






 








Supplemental Disclosure of cash information:






 






 






 








Cash paid for interest






$






1,654,799






 






 






$






563,345






 








Cash paid for income taxes






$






1,600






 






 






$






1,600






 








 






 






 






 








 






 






 






 








Supplemental Disclosure of Noncash Investing and Financing Activities:






 






 






 








Conversion of Notes and accrued interest to common shares






$






8,903,712






 






 






$






—






 








Payment of Promissory with Receivable






$






283,578






 






 






$






—






 








Issuance of preferred class A units for acquisition






$






166,698






 






 






$






—






 








Issuance of common shares in exchange for payment of promissory note






$






277,786






 






 






$






—






 








Issuance of Series 3 J-Kiss units in exchange for loan receivable






$






574,503






 






 






$






—






 







 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260331384214/en/
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Original: Nuvve Provides Fourth Quarter and Full Year 2025 Financial Update