Intelligent energy management leader and proven AI company plan to pursue a Joint Venture to Collaborate on Artificial Intelligence Development
Nuvve Holding Corp. (Nuvve) (Nasdaq: NVVE), a global cleantech company electrifying the planet at the intersection of energy and transportation through its intelligent energy platform, today announced plans to form a joint venture with 2021.AI Aps (2021.AI) to integrate their artificial intelligence (AI) platform, Grace, to Nuvve’s GIVe (Grid Integrated Vehicle) V2G platform. The joint venture – which will be named Astrea AITM – will leverage Nuvve’s extensive e-mobility and energy expertise and 2021.AI’s proven AI platform to broaden and optimize the services offered by Nuvve’s V2G technology today.
2021.AI has developed a platform that handles the full life cycle of AI development and operation, including robust security, privacy, and governance features. The integration with Nuvve’s software will enable forecasting and optimization models for the e-mobility and energy sectors through AI, deep learning, machine learning, and neural networks. This will allow Nuvve to provide robust, predictive analysis and energy insights to both EV and utility customers.
“Partnering with 2021.AI to integrate AI will take our platform to the next level, offering even greater benefits to our customers and the electric grid as a whole,” said Gregory Poilasne, chairman and CEO of Nuvve.
An example use case to be developed by Astrea AITM is using predictive modeling to forecast a fleet driver’s behavior and understand the highly specific level of energy needed for that driver’s EV to perform its daily driving duties. Based on that highly accurate forecast, Nuvve’s system will be able to provide various grid services for longer periods of time and charge to those forecasted amounts. This will help improve the efficiency and performance of EV fleets while contributing even more services to the grid to increase capacity and resilience.
“2021.AI has been helping companies deliver real-time insights across industries and we are looking forward to expanding our work with Nuvve at this very important intersection of transportation and energy,” said Mikael Munck, CEO & Founder of 2021.AI. “This new partnership will allow us to work closely together to integrate the latest AI advancements into Nuvve’s proven platform.”
In addition to advanced fleet analytics, Astrea AITM will help Nuvve strengthen bidding strategies to take tariffs, volatility, and capacity needs on the grid side into account. This has immense potential benefits to the entire energy ecosystem including municipalities, energy cooperatives, investor-owned utilities, transmission operators, and energy retailers, especially as more and more EVs are introduced to the grid causing capacity strains.
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