Nuvve Expands European Revenue Platform with New 40MW Austrian BESS Project Under OMNIA Cooperation Agreement
Nuvve to earn consulting and grid aggregation fees on 40 MW / 80 MWh project in Austria, with a right of first refusal to acquire the completed asset; combined European BESS pipeline now could represent annual revenue potential exceeding four times Nuvve's FY2024 revenues
Nuvve Holding Corp. (NASDAQ:NVVE), a global leader in grid modernization, vehicle-to-grid (V2G) technology and grid-interactive energy solutions, today announced the addition of a 40 MW / 80 MWh battery energy storage system (BESS) project in Austria to the joint European energy platform it is building with OMNIA Group Holdings (Zug, Switzerland). The project — developed through the Austrian SPV Energiepark Graphit GmbH — is the latest asset activated under the strategic cooperation agreement between Nuvve and OMNIA announced earlier this month, and extends the commercial arrangement already in place for the companies' Swedish BESS project.
Under the terms of the cooperation agreement, Nuvve will provide project development consulting services and will serve as grid aggregation operator, earning a 9% aggregation fee on all revenues generated by the Austrian project. Nuvve also holds a right of first refusal (ROFR) to acquire the completed asset at a valuation that is being independently assessed, providing optionality to own the project outright.
Growing Fee Revenue Across a Multi-Country European Portfolio
The Austrian project is the second BESS asset activated under the OMNIA cooperation framework, following the previously announced Swedish project. Together, these two assets — combined with Nuvve's first contracted BESS project in Denmark, a 2 MW system — establish Nuvve as an active grid aggregation operator across three European markets.
The Austrian asset alone is projected to generate annual revenues of approximately $10.8 million, with the Swedish project contributing additional revenues from the same aggregation and consulting fee structure. Across both projects, Nuvve's combined annual fee revenue potential represents a pro forma increase of more than four times Nuvve's reported FY2024 revenues of $5.3 million.
The ROFR on the Austrian project further underscores the long-term asset ownership optionality embedded in Nuvve's European strategy — a pathway to transitioning from fee-based operator to full asset owner on proven, revenue-generating infrastructure.
About the Energiepark Graphit Project
The Energiepark Graphit project is a fully contracted, development-stage 40 MW / 80 MWh LFP BESS co-located at an established industrial site in Bad Goisern am Hallstättersee, Upper Austria. Key project attributes:
- EPC Contract: Signed fixed-price turnkey construction contract at €13.52 million (€168.49/kWh) with a Vienna-based BESS engineering firm
- Site Rights: 18-year cooperation agreement securing land access, behind-the-meter grid connection via a 110 kV substation, and all necessary site access rights
- Revenue Optimization: The platform allows the battery to participate across Austrian FCR, aFRR, mFRR ancillary service and wholesale energy markets
- Regulatory Framework: Structured under the Austrian Elektrizitätswirtschaftsgesetz (ElWG, December 2025), which grants a 20-year grid fee exemption for standalone BESS facilities
- Projected EBITDA Margin: Exceeding 80%, based on revenue optimization model for the Austrian ancillary service markets
Leadership Perspectives
"When you stack this alongside our Swedish project and our first contracted deployment in Denmark, you can see a European revenue platform taking shape that is multiple times the size of Nuvve's entire current revenue base — built with an extremely fast path to market."
— Gregory Poilasne, Co-Founder & Chief Executive Officer, Nuvve Holding Corp.
"The cooperation framework that we established with Nuvve was designed to convert pipeline into recurring economics at an accelerated speed. Energiepark Graphit is the second asset we have activated under that framework in a matter of weeks, and it will not be the last. This is a partnership built on aligned incentives and tangible delivery, not just intentions."
— Daniel Hansen, Chief Executive Officer, OMNIA Group Holdings
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
About OMNIA Group Holdings
OMNIA Group Holdings (Baar, Zug, Switzerland) is a European energy infrastructure development company specializing in the origination, structuring, and delivery of utility-scale battery energy storage systems. OMNIA's active portfolio spans projects in Sweden, Austria, Denmark, and beyond, with a focus on fully contracted, permit-ready assets optimized for European ancillary service and wholesale energy markets.
Forward-Looking Statements
This press release contains forward-looking statements or forward-looking information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of forward-looking terms such as "may," "will," "expects," "believes," "aims," "anticipates," "plans," "looking forward to," "estimates," "projects," "assumes," "guides," "targets," "forecasts," "continue," "seeks" or the negatives of such terms or other variations on such terms or comparable terminology, although not all forward-looking statements contain such identifying words. Forward-looking statements include, but are not limited to, statements regarding the anticipated completion, the expected timing of recently announced projects, anticipated growth of various business areas, and other statements that are not historical facts. Nuvve cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Nuvve. Such statements are based upon the current beliefs and expectations of management and are subject to significant risks and uncertainties that could cause actual outcomes and results to differ materially. Some of these risks and uncertainties can be found in Nuvve's most recent Annual Report on Form 10-K and subsequent periodic reports filed with the Securities and Exchange Commission (SEC). These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in the Nuvve's filings with the SEC. Such forward-looking statements speak only as of the date made, and Nuvve disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers of this press release are cautioned not to place undue reliance on these forward-looking statements, since there can be no assurance that these forward-looking statements will prove to be accurate. This cautionary statement is applicable to all forward-looking statements contained in this press release.
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