The following is a summary of the Nuvve Holding Corp. (NVVE) Q4 2023 Earnings Call Transcript:
Financial Performance:
Nuvve Holding reported 2023 annual revenues of $8 million, meeting their projected targets.
The Q4 2023 revenue was recorded as $1.64 million, showing an improvement from $1.15 million in Q4 2022.
The company successfully reduced yearly costs by $4.6 million and managed to raise $9.6 million of new capital in the first quarter of 2024.
The total revenue for 2023 came out as $8.3 million which indicates a decent growth of 55.1% over the year 2022.
Business Progress:
Nuvve reported satisfying year-over-year growth with boosted sales and increased deployment of charging stations that are linked to its GIVe V2G software platform.
108 chargers were added to the company's V2G GIVe software during Q4, leading to an overall annual increase of 44.6% in megawatts under management.
The company has entered into trustful partnerships with Toyota Tsusho and Japan's Chubu Electric Power Miraiz Company, intending to expand in the Japanese stationary battery market.
Nuvve has been chosen for a $16 million project by the Fresno Economic Opportunity Commission which focuses on fleet electrification.
The launch of a dedicated company website to provide customer resources, latest project updates and other relevant information marks a significant business development.
With consistent performance, Nuvve aims to achieve an annual revenue ranging between $15 million to $20 million in 2024.
More details: Nuvve IR
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