NUVVE JAPAN Secures Second Milestone Payment for Mino BESS Project; Construction Progressing on Schedule

TOKYO & SAN DIEGO--(BUSINESS WIRE)--NUVVE JAPAN K.K. (“NVJ”), the Japanese subsidiary of Nuvve Holding Corp. (Nasdaq: NVVE), announced today that it has successfully reached its second financial milestone for the 2MW / 8MWh Battery Energy Storage System (BESS) project in Mino City, Gifu Prefecture.

Following the definitive sales agreement announced in March, NVJ has received a second payment of ¥200 million ($1.29 million). This follows the initial deposit of ¥143.91 million, bringing the total capital received to date to approximately 66% of the total contract value of ¥520 million ($3.35 million).

The receipt of this second payment signals the successful completion of the procurement phase and the transition into the primary installation stage. NVJ confirms that the project remains firmly on track for its anticipated operational debut in the fourth quarter of 2026.

"The timely receipt of this second milestone payment underscores the confidence our partners have in Nuvve’s delivery capabilities," said Masa Higashida, CEO of Nuvve Japan. "Our engineering teams are moving forward with site preparations in Mino City to ensure this high-capacity, four-hour discharge system is ready to support the Japanese grid by the end of the year."

Once operational, the facility will be integrated into the Nuvve GIVe™ platform. This sophisticated aggregation software will allow the Mino project to participate in:

• The Supply and Demand Adjustment Market: Providing high-precision frequency regulation.
• JEPX (Japan Electric Power Exchange): Optimizing energy arbitrage and wholesale trading.

By maintaining the Operations and Maintenance (O&M) and aggregation services, NVJ ensures a long-term partnership with the asset owner, generating recurring revenue while contributing to the stability of the regional energy infrastructure in Gifu Prefecture.

Updated Project Timeline and Financials

Milestone	Status	Amount (JPY)
Contract Execution / Deposit	Completed (March 2026)	¥143,910,000
Second Milestone Payment	Completed (April 17, 2026)	¥200,000,000
Site Commissioning	Scheduled (Q3/Q4 2026)	Remaining Balance
Full Operational Status	Expected (Q4 2026)	N/A

NVJ continues to pursue additional front-of-the-meter projects across Japan, leveraging this 2MW/8MWh blueprint to assist domestic enterprises and local governments in meeting the nation’s 2030 carbon neutrality targets.

About NUVVE JAPAN K.K.

As the Japanese arm of Nuvve Holding Corp.—the first company to commercialize V2G technology globally—NUVVE JAPAN provides advanced energy management solutions that integrate electric vehicles (EVs) and stationary storage batteries with the power grid.

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

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