NVVE - Nuvve and Evolve Transition stock jumps on forming a $750M joint venture 'Levo' along with Stonepeak

Evolve Transition Infrastructure LP (SNMP) +59% premarket, announced an agreement Nuvve Holding (NVVE) +15% premarket, through its proprietary vehicle-to-grid (V2G) platform and certain investment vehicles managed by Stonepeak Partners LP to form a new sustainable infrastructure joint venture called Levo Mobility LLC (Levo) for the deployment of electric fleets, including thousands of zero-emission electric school buses for school districts nationwide through "V2G hubs" and Transportation as a Service ("Taas"). Stonepeak, along with its portfolio company Evolve Transition Infrastructure LP plans to deploy up to an aggregate $750M capital commitment to LEvo, with a maximum of 10% of such capital commitment being funded by Evolve.Gregory Poilasne, Chairman and CEO of Nuvve said, "Through our relationship, we plan to remove barriers that currently exist for school districts and other fleet operators to convert to electric vehicles. At the same time, we are expanding the use of Nuvve's V2G technology to lower the total cost of ownership for end

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Nuvve and Evolve Transition stock jumps on forming a $750M joint venture 'Levo' along with Stonepeak