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      Nuvve (NVVE) Stock Is Skyrocketing This Morning, Why?

      By Fahim Awan

      Published on

      October 25, 2023

      5:43 PM UTC

      Nuvve (NVVE) Stock Is Skyrocketing This Morning, Why?

      Nuvve Holding Corp. (NASDAQ: NVVE) has experienced a remarkable surge of 105.07%, with its stock price reaching $0.3039 in the most recent trading session as of the last check. Notably, Nuvve’s trading volume has exceeded an impressive 63 million shares, far surpassing its typical weekly average of 0.7 million shares. This notable upswing in the value of NVVE shares can be attributed to the company’s strategic all-electric move.

      In a significant announcement today, Nuvve (NVVE) unveiled its collaboration with Blue Bird Corporation (Nasdaq: BLBD), signifying the replacement of their conventional diesel fleet. Nuvve has successfully transitioned the fleet of the Martinsville Independent School District (ISD) to a fleet consisting of five Blue Bird Vision electric buses. This transformation also encompassed the replacement of five Nuvve Level II chargers and the incorporation of the innovative AI-driven Nuvve FleetBox 2.0 charge management software.

      Of particular note is that the Martinsville ISD now proudly holds the distinction of being the first school district in Texas to boast an entirely electric school bus fleet. This achievement aligns with the objectives of the Texas Electric School Bus Project, a nonprofit organization dedicated to tracking and promoting school transportation electrification within the state.

      The Blue Bird Vision electric buses, which are emissions-free, have a maximum passenger capacity of 71 students and can cover up to 120 miles on a single charge. Thanks to Nuvve’s cutting-edge battery charging infrastructure, these buses require only a modest portion of the day to achieve a full recharge.

      Principal Keith Kimbrough of Martinsville ISD played a pivotal role in securing a substantial $1.58 million Clean School Bus grant from the U.S. Environmental Protection Agency in October 2022, which provided crucial financial support for this transformative project.

      Additionally, partnerships with Rush Truck Centers as the dealer, Blue Bird for the fleet, and Nuvve K-12 for consultation and the provision of suitable chargers and software have been instrumental in making this vision a reality, effectively catering to the district’s transportation needs and daily charging requirements.

      Throughout this electrification endeavor, the Nuvve K-12 team and its partners have offered unwavering guidance and comprehensive support to the Martinsville Independent School District, thereby marking an important milestone for NVVE and the company’s first installation in the state of Texas.

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