Nuvve Company and Newborn Acquisition Corp. Near Organization Blend

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SAN DIEGO, March 22, 2021 /PRNewswire by using COMTEX/ —
SAN DIEGO, March 22, 2021 /PRNewswire/ — Nuvve Holding Corp. (“Nuvve”) (Nasdaq: NVVE), a international engineering chief accelerating the electrification of transportation via its proprietary motor vehicle-to-grid V2G system, and Newborn Acquisition Corp. (“Newborn”) (Nasdaq: NBAC), a publicly traded particular purpose acquisition enterprise, these days declared that the two corporations have finished their business combination (the “Company Blend”). The Enterprise Mixture was authorized by Newborn shareholders on March 17, 2021 (Hong Kong time).

Nuvve has been accepted for listing on the Nasdaq Capital Market and expects to begin trading under the new symbols on Tuesday, March 23, 2021. New child securities will go on to trade right now, Monday, March 22, 2021.  When they get started trading tomorrow, shares of widespread stock and warrants of the new blended company will be traded less than the ticker symbol “NVVE” and “NVVEW,” respectively.

In relationship with the business enterprise mix and similar personal placement, Nuvve gained close to $62 million in income proceeds. The resources are anticipated to be used by Nuvve to additional create its offerings by combining its turnkey V2G methods with finance packages to clients, including machines financing, V2G providers, infrastructure and routine maintenance functions. Impartial market analysts have projected the global V2G technological know-how sector to be value over $17 billion by 2027.

Gregory Poilasne, the chairman and Chief Executive Officer of Nuvve, commented, “Nowadays is an thrilling working day in the historical past of Nuvve as we will formally begin buying and selling on the Nasdaq tomorrow. The swift adoption of electrical automobiles is driving a will need for the field to glance at innovative options to handle the needs that will be put on the grid. Nuvve’s proprietary car-to-grid (V2G) technology solves these potential troubles by enabling electric auto batteries to keep and discharge energy, integrate renewable electricity resources such as solar and wind, merge electricity from several electrical motor vehicle batteries to variety a digital electrical power plant (VPP), and supply bidirectional solutions to the electrical grid in a qualified and safe method. With a worldwide portfolio of important V2G technological innovation patents masking bidirectional abilities and grid solutions with aggregated electric powered motor vehicles, I imagine we are preferably positioned to assistance usher in the electric auto revolution and be the foremost solutions supplier for a long time to arrive.”

Nuvve’s management group will continue to be led by Mr. Poilasne and Ted Smith, Nuvve’s President and Chief Running Officer, along with David Robson who joined as Main Economical Officer in December 2020.

Advisors

Craig-Hallum Capital Team acted as sole placement agent and M&A advisor on the transactions. Roth Funds Companions acted as funds markets advisor to New child. Loeb & Loeb LLP acted as lawful counsel to Newborn. Graubard Miller acted as lawful counsel to Nuvve.

About Nuvve Holding Corp.

Nuvve (NASDAQ: NVVE) is accelerating the electrification of transportation via its proprietary motor vehicle-to-grid (V2G) engineering. Its mission is to decrease the expense of electric vehicle possession although supporting the integration of renewable electricity resources, which include solar and wind. Nuvve’s Grid Built-in Vehicle, GIVe™, platform is refueling the upcoming generation of electrical automobile fleets by smart, bidirectional charging remedies. Due to the fact its founding in 2010, Nuvve has released thriving V2G jobs on five continents and is deploying business products and services globally by producing partnerships with utilities, automakers, and electrical vehicle fleets. Nuvve is headquartered in San Diego, California, and can be identified online at www.nuvve.com.

Nuvve Press Call

Marc Trahand, EVP Advertising and marketing
[email protected] 
+1 858 250 9740

Nuvve Investor Speak to

Lytham Associates
Robert Blum or Joe Dorame
[email protected]
+1 602 889 9700

Forward Hunting Statements

The data in this press release incorporates “ahead-looking statements” in the this means of Part 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Trade Act of 1934, as amended. All statements, other than statements of existing or historical fact involved in this presentation, concerning the small business combination amongst New child and Nuvve and Nuvve’s approach, future operations, believed and projected money functionality, prospects, options and goals are ahead-on the lookout statements. When applied in this push release, the words “could,” “should really,” “will,” “may,” “think,” “foresee,” “intend,” “estimate,” “assume,” “venture,” the negative of these phrases and other related expressions are intended to determine ahead-wanting statements, while not all ahead-searching statements consist of these kinds of figuring out phrases. These forward-looking statements are dependent on management’s existing expectations and assumptions about future activities and are based mostly on at this time readily available facts as to the final result and timing of potential situations. Besides as or else demanded by applicable law, Newborn and Nuvve disclaim any obligation to update any forward-looking statements, all of which are expressly experienced by the statements in this part, to mirror events or conditions right after the day of this press release. Newborn and Nuvve warning you that these ahead-hunting statements are subject to several pitfalls and uncertainties, most of which are tricky to predict and lots of of which are outside of the control of either New child or Nuvve. In addition, Nuvve cautions you that the forward-seeking statements contained in this push launch are matter to the pursuing components: (i) the result of any legal proceedings that could be instituted in opposition to Newborn or Nuvve next the company mix (ii) the threat that the enterprise blend disrupts Nuvve’s existing designs and operations (iii) Nuvve’s skill to realize the predicted gains of the business combination, which may possibly be affected by, amongst other things, levels of competition and the potential of Nuvve to develop and regulate expansion profitably pursuing the business blend (iv) prices connected to the business mixture (v) challenges relevant to the rollout of Nuvve’s business enterprise and the timing of envisioned company milestones (vi) Nuvve’s dependence on widespread acceptance and adoption of electrical cars and improved set up of charging stations (vii) Nuvve’s skill to manage efficient inside controls in excess of fiscal reporting, which include the remediation of recognized substance weaknesses in inner control more than monetary reporting relating to segregation of duties with respect to, and access controls to, its monetary history holding procedure, and Nuvve’s accounting staffing amounts (viii) Nuvve’s recent dependence on revenue of charging stations for most of its revenues (ix) over-all need for electric powered car or truck charging and the potential for reduced desire if governmental rebates, tax credits and other monetary incentives are lowered, modified or eradicated or governmental mandates to improve the use of electrical cars or reduce the use of automobiles powered by fossil fuels, both instantly or indirectly by way of mandated limitations on carbon emissions, are reduced, modified or removed (x) opportunity adverse results on Nuvve’s income and gross margins if clients significantly declare clear electricity credits and, as a consequence, they are no longer out there to be claimed by Nuvve (xi) the effects of level of competition on Nuvve’s long term enterprise (xii) hazards related to Nuvve’s dependence on its mental assets and the possibility that Nuvve’s know-how could have undetected problems or faults (xiii) changes in relevant legislation or polices (xiv) the COVID-19 pandemic and its result immediately on Nuvve and the economic system commonly (xv) challenges linked to disruption of administration time from ongoing organization operations because of to the proposed business mixture (xvi) risks relating to privacy and data protection legislation, privacy or information breaches, or the loss of facts and (xvii) the likelihood that Nuvve may perhaps be adversely influenced by other economic, business, and/or competitive variables. Ought to 1 or extra of the threats or uncertainties explained in this press launch materialize or need to underlying assumptions demonstrate incorrect, precise final results and options could differ materially from those expressed in any forward-seeking statements. Further facts concerning these and other things that could effect the operations and projections reviewed herein can be observed in the proxy statement/prospectus submitted by Newborn and Nuvve Keeping with the SEC and in the other experiences that Newborn has filed and that Nuvve Keeping will file from time to time with the SEC, including Newborn’s Once-a-year Report on Variety 10-K for the fiscal yr finished December 31, 2020. Newborn’s and Nuvve Holding’s SEC filings are available publicly on the SEC’s web site at www.sec.gov.

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Source Nuvve Corporation

COMTEX_383160275/2454/2021-03-22T08:00:36

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