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  Title	Nuvve Holding (NVVE) Soars on Japan Storage Deal as Q3 2025 Earnings Loom
  ID	27778396
  External ID	002c45cd7b016abd61090bc7e68ec92d
  Author	Mateusz Kaczmarek
  Published Date	Nov. 13, 2025, 7:58 a.m.
  Summary	Nuvve Holding (NVVE) Soars on Japan Storage Deal as Q3 2025 Earnings Loom - TechStock²
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  URL	https://ts2.tech/en/nuvve-holding-nvve-soars-on-japan-storage-deal-as-q3-2025-earnings-loom
  Sentiment	Negative: 0.91862    Neutral: 0.02637    Positive: 0.05501
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  Content ID	35460792
  Key	ee20be2f-e881-4c88-b4a5-95aa6b7543c1
  Content	NVVE shares exploded in after‑hours and pre‑market trading , jumping more than 130% after a new aggregation deal for a large stationary battery project in Japan and trading nearly 200% higher in early pre‑market action. [1] , jumping more than 130% after a new aggregation deal for a large stationary battery project in Japan and trading nearly 200% higher in early pre‑market action. The catalyst is Nuvve Japan's first aggregation agreement for existing stationary storage batteries in Tainai City, Niigata Prefecture, overseeing a 1.999 MW / 8,170 MWh high‑voltage battery expected to begin operations in the first half of 2026. [2] in Tainai City, Niigata Prefecture, overseeing a 1.999 MW / 8,170 MWh high‑voltage battery expected to begin operations in the first half of 2026. Nuvve is simultaneously building a 6 MW battery storage pipeline in Denmark via three 2 MW BESS projects planned for Eastern Denmark, representing roughly $10 million in capital deployment and a targeted 25% internal rate of return. [3] via three 2 MW BESS projects planned for Eastern Denmark, representing roughly $10 million in capital deployment and a targeted 25% internal rate of return. Q3 2025 earnings are scheduled for today after the market close, with a conference call at 5:00 p.m. ET that investors hope will clarify the company's cash runway, project pipeline and listing status on Nasdaq. [4] with a conference call at 5:00 p.m. ET that investors hope will clarify the company's cash runway, project pipeline and listing status on Nasdaq. Despite today's rally, Nuvve remains a deeply distressed micro‑cap, with steep losses, a history of dilutive financing, and an ongoing fight to maintain Nasdaq listing compliance, including an extension to regain compliance by December 31, 2025. [5] As of the latest official close, Nuvve Holding Corp. shares were at about $0.1562 on Nasdaq, down roughly 2% on the day. But that closing price doesn't tell the story of what happened next. On Wednesday evening U.S. time, NVVE ripped about 134% higher in after‑hours trading to roughly $0.37 after the company's Japanese subsidiary announced a major aggregation agreement for a grid‑scale battery project. [6] after the company's Japanese subsidiary announced a major aggregation agreement for a grid‑scale battery project. By early Thursday pre‑market, shares were quoted around $0.44–$0.46, up about 185–195% from the prior close , briefly making NVVE one of the biggest movers in the industrials and clean‑energy space. [7] , briefly making NVVE one of the biggest movers in the industrials and clean‑energy space. According to TipRanks, more than 222 million NVVE shares changed hands this morning, compared with a typical daily volume of around 3.5 million shares — enormous turnover for a company with a market cap of only a few million dollars. [8] Even after this spike, NVVE is still down about 95% over the past year, with a 52‑week range of roughly $0.15 to $5.02. [9] Given the thin float, tiny market cap and heavy headline trading, NVVE is behaving like a high‑risk, high‑volatility micro‑cap, where single press releases can drive triple‑digit percentage moves in a single session. The main news behind today's move is a new contract in Japan. According to Nuvve's press release, NUVVE Japan Corporation, a subsidiary of Nuvve Holding Corp., has signed its first aggregation agreement focused on existing stationary storage batteries in Japan. [10] Key deal details: Location: Tainai City, Niigata Prefecture, Japan Tainai City, Niigata Prefecture, Japan Asset: An existing high‑voltage stationary storage battery An existing high‑voltage stationary storage battery Power / capacity: Output: 1,999 kW (≈2 MW) Energy storage: 8,170 MWh [11] Start of operations: Expected to begin in the first half of 2026 [12] Expected to begin in the Nuvve's role: NUVVE Japan will act as aggregator and operator , handling: Participation in Japan's supply‑demand adjustment market Participation in the wholesale power market Control and market operations for the battery, aiming to generate revenue for the client while enhancing regional grid stability [13] NUVVE Japan will act as , handling: In commentary about the project, CEO and co‑founder Gregory Poilasne highlighted that this kind of grid‑scale storage can support the peak power consumption of hundreds of households, underscoring the scale Nuvve is now targeting in Japan. [14] Third‑party coverage from outlets like Benzinga, GuruFocus, TipRanks, Investing.com and MarketScreener has amplified the news, collectively framing the Japan agreement as a 'major deal' that deepens Nuvve's presence in the Japanese energy storage market and validates its battery aggregation strategy. [15] For investors tracking the long‑term story, this project matters for several reasons: Shift from pilots to commercial‑scale assets Nuvve has long talked about turning EV batteries and stationary storage into aggregated 'virtual power plants.' A 1.999 MW, 8,170 MWh installation is firmly in the grid‑scale category, not just a small demonstration site. [16] Stationary batteries, not just EVs Historically, Nuvve's narrative has focused on vehicle‑to‑grid (V2G). This deal is centered on stationary storage — a sign the company is leaning harder into broader distributed energy resource (DER) management, not just EV chargers. [17] Japan as a strategic market Japanese regulators are pushing grid modernization and more flexible capacity to cope with renewables and demand volatility. NUVVE Japan explicitly frames this project as a step toward supporting Japan's social infrastructure and adapting to new power‑market designs, and says it plans to expand this model to other regions using existing storage assets. [18] In short, the agreement strengthens Nuvve's credibility in one of the world's more advanced power markets — but it's still just one contract, and not yet an operating asset. This Japanese deal comes just a day after another storage announcement, this time in Denmark. Via its Nuvve Denmark ApS subsidiary, the company unveiled plans to develop three 2 MW Battery Energy Storage System (BESS) projects in Eastern Denmark, on the island of Zealand. [19] Highlights from the Danish projects: Total capacity: 6 MW of power (three 2 MW systems), each with two hours of duration 6 MW of power (three 2 MW systems), each with Locations: One site in Helsingør and two sites in Ringsted , all in Eastern Denmark One site in and two sites in , all in Eastern Denmark Primary use‑cases: Ancillary services (frequency and balancing support) Energy arbitrage (buy low, sell high on power markets) Software edge: Nuvve's platform will 'stack' revenue streams in real time, switching between grid services while managing battery degradation — a classic virtual power plant / energy‑trading model. [20] Nuvve's platform will 'stack' revenue streams in real time, switching between grid services while managing battery degradation — a classic model. Timeline: Ready‑to‑Build in the first half of 2026 , with operations expected in late 2026 [21] Ready‑to‑Build in the , with operations expected Economics: Combined, the projects represent around $10 million of capital deployment and are modeled to potentially deliver an internal rate of return (IRR) of about 25%. [22] Denmark is pushing aggressively toward 100% green electricity by 2030, creating strong incentives for storage that can smooth out the intermittency of wind and solar. Nuvve clearly hopes to demonstrate that it can earn attractive returns by running merchant‑style storage assets with its software platform in these markets. [23] While the Japan and Denmark announcements are driving the headlines, today is also earnings day for Nuvve. According to the company's Oct. 30 press release, Nuvve will: Release its Q3 2025 financial update for the quarter ended September 30, 2025 for the quarter ended September 30, 2025 Host a conference call today (Thursday, November 13, 2025) at 5:00 p.m. ET (2:00 p.m. PT) Provide a live webcast and replay via its investor relations website. [24] Nasdaq's earnings calendar likewise lists NVVE as expected to report after the close on Nov. 13. [25] As of the time of writing, the Q3 2025 numbers themselves have not yet been published on major newswires or the company's IR site, so markets are trading primarily on the storage news and expectations rather than on fresh quarterly financials. Based on recent filings and the Q2 2025 update, here's what many will be listening for on today's call: Revenue trajectory after a weak Q2 Q2 2025 revenue fell to roughly $0.33 million , down from about $0.80 million a year earlier. [26] , down from about $0.80 million a year earlier. Investors will want to know if hardware shipments and grid‑services revenues have recovered in Q3, or if softness continued. Cash, liquidity and financing plans As of June 30, 2025, Nuvve reported about $1.8 million in cash and cash equivalents , even after raising more than $6.9 million in Q2 and $5.5 million in July via debt and equity. [27] , even after raising more than and via debt and equity. With ongoing heavy losses, the market is likely expecting further capital‑raising, cost cuts, or both. Update on Nasdaq listing compliance and timeline Nuvve previously requested a hearing before the Nasdaq Hearings Panel after receiving a delisting determination for failing both the minimum bid price and minimum stockholders' equity requirements. [28] after receiving a delisting determination for failing both the minimum bid price and minimum stockholders' equity requirements. Recent coverage indicates the company has received an extension to December 31, 2025 to regain compliance, but details and conditions will be critical. [29] Execution on Japan and Denmark storage projects The market will want clarity on revenue timing, capital requirements, and potential partners or financing structures for the 6 MW Danish build‑out and the Japan project. Crypto, AI and digital‑asset strategy Management has been vocal about positioning Nuvve at the intersection of energy, AI and crypto , including launching a new digital‑asset subsidiary earlier this year (more below). [30] , including launching a new digital‑asset subsidiary earlier this year (more below). Investors may seek more concrete metrics: treasury size, realized or unrealized gains/losses, and how crypto initiatives integrate with the core energy business. To understand today's trading, it helps to revisit the Q2 2025 financial picture, which was challenging. From the company's Q2 2025 financial update filed with the SEC: [31] Revenue: Q2 2025 total revenue: ≈$0.33 million Q2 2024 revenue: ≈$0.80 million Main drivers: lower product shipments, lower services revenue and reduced grant income Margins: Gross profit: ≈$0.20 million (roughly flat vs. prior year) Gross margin improved to about 60.6% , up sharply from around 10–25% in the prior‑year period, primarily because hardware represented a smaller mix and engineering services a larger one. Operating expenses and net loss: Selling, general and administrative expenses rose to ≈$13.9 million , up from about $4.5 million a year earlier, driven largely by non‑cash warrant expenses tied to the company's crypto strategy, higher bad‑debt expense, and legal and marketing costs. Net loss ballooned to ≈$13.6 million , compared with around $3.9–4.2 million in the prior‑year quarter. Cash and capital: The company raised $6.9 million in Q2 via debt and equity, and another $5.5 million in July via a public offering. Even after these raises, cash at quarter‑end was only ≈$1.8 million , highlighting ongoing financing pressure. External analysis platforms such as GuruFocus flag the company's financial profile as extremely weak, citing shrinking revenues, deeply negative margins, liquidity constraints (sub‑1 current and quick ratios), and a very low Altman Z‑Score that places NVVE in a statistical 'distress' zone. [32] In other words, today's rally is happening against the backdrop of severe financial stress, not in a context of strong profitability or balance‑sheet strength. Nuvve's fight to remain listed on Nasdaq has been a major overhang for shareholders. In early September 2025, Nuvve disclosed that it had received a Nasdaq Staff Determination Letter citing non‑compliance with: Minimum bid price requirement (Listing Rule 5550(a)(2)) Minimum stockholders' equity requirement (Listing Rule 5550(b)(1)) [33] citing non‑compliance with: The company requested a hearing before the Nasdaq Hearings Panel, which, under Nasdaq rules, automatically stayed any suspension or delisting actions while the hearing and any granted extension are pending. [34] Subsequent coverage in Investing.com and other outlets reports that Nuvve has been granted an extension until December 31, 2025 to regain compliance with Nasdaq's listing standards. [35] To help address the minimum bid price, shareholders have approved a reverse stock split authorization, giving the board flexibility to execute a split in a range between 1‑for‑2 and 1‑for‑40 at a later date if needed. [36] This kind of authority is common among micro‑caps in danger of delisting, but it doesn't fix the underlying business — it simply changes the share count and nominal price. In October 2025, Nuvve also: Sold its 4.65% equity stake in Dreev SAS , its European V2G joint venture with EDF, for €800,000 in cash. [37] , its European V2G joint venture with EDF, for in cash. Entered cross‑licensing and patent‑assignment agreements with Dreev and EDF, effectively refocusing on core V2G intellectual property while exiting the minority equity position. [38] This move raised some additional cash and simplified the corporate structure, but at the cost of giving up direct equity participation in a European V2G platform. One of the more unusual aspects of the Nuvve story is its push into cryptocurrency and blockchain. In April 2025, Nuvve announced the creation of Nuvve‑DigitalAssets, a wholly owned subsidiary tasked with: [39] Building a cryptocurrency 'digital treasury' Allocating at least 50% of the portfolio to Bitcoin , with the remainder in other major crypto assets such as Ethereum, Solana, Chainlink, Avalanche and others , with the remainder in other major crypto assets such as Ethereum, Solana, Chainlink, Avalanche and others Pursuing 'cash‑flowing blockchain opportunities' and potential fintech M&A transactions Management has repeatedly described Nuvve as being at the intersection of energy, AI and crypto, framing digital assets as both a treasury strategy and a potential new revenue stream. However: The Q2 financial update showed that the company recorded over $8 million of non‑cash warrant expenses tied to consultants for cryptocurrency strategy services — a large component of its swollen SG&A. [40] tied to consultants for cryptocurrency strategy services — a large component of its swollen SG&A. External analysts highlight this as an added layer of complexity and risk for a company that is already facing basic questions about solvency and listing status. [41] How much investors embrace or discount this crypto pivot is likely to be a key theme in reactions to tonight's Q3 commentary. While traditional Wall Street analyst coverage of Nuvve is sparse, several data and research platforms have weighed in: TipRanks notes that Nuvve stock was up 195.2% in pre‑market trading today but remains down about 94.99% year‑to‑date , with heavy trading volume far above average. Its AI 'Spark' analyst currently labels NVVE as 'Underperform' , citing weak financial performance and liquidity pressures. [42] notes that Nuvve stock was up today but remains down about , with heavy trading volume far above average. Its AI 'Spark' analyst currently labels NVVE as , citing weak financial performance and liquidity pressures. GuruFocus ' quantitative metrics flag: Three‑year revenue growth of roughly ‑52% Deeply negative operating and net margins Low liquidity ratios High volatility and a high beta An Altman Z‑Score that places the company in the statistical distress zone . [43] ' quantitative metrics flag: These are independent, third‑party views, and they are not guarantees of future performance, but they underline how risky markets currently perceive NVVE to be. Putting it all together, here's how today's action looks in context: Fundamental positives The Japan aggregation agreement and Danish BESS pipeline prove that Nuvve is still winning projects and is relevant in grid‑scale storage markets. and prove that Nuvve is still winning projects and is relevant in grid‑scale storage markets. Both deals expand the company's presence in high‑value territories (Japan and Northern Europe) and support its narrative of being a platform for managing distributed energy assets. [44] Fundamental risks Nuvve is still tiny in revenue , heavily loss‑making, and reliant on ongoing financing. [45] , heavily loss‑making, and reliant on ongoing financing. Its Nasdaq listing remains at risk , with a hard deadline to regain compliance and a reverse‑split option waiting in the wings. [46] , with a hard deadline to regain compliance and a reverse‑split option waiting in the wings. The crypto and AI pivot adds potential upside but also significant uncertainty and non‑core volatility. [47] Trading reality Today's move is being driven by headline momentum and speculative trading , not by a sudden transformation of the company's balance sheet. , not by a sudden transformation of the company's balance sheet. With daily volumes hundreds of times normal and a micro‑cap float, NVVE can move violently in both directions on relatively small incremental news. [48] For anyone following Nuvve, tonight's Q3 2025 call is likely to be critical. Investors will want to see evidence that: Revenue is stabilizing or growing Cash burn is being controlled Storage projects like those in Japan and Denmark can be funded and executed without unsustainable dilution The company has a credible path to Nasdaq compliance and long‑term viability Nuvve Holding Corp. (NVVE) is currently a highly speculative micro‑cap stock with extreme volatility, complex strategic moves, and significant financial and listing risks. Today's rally shows how quickly sentiment can swing on new project news, but it does not eliminate the underlying challenges. Nothing in this article is financial advice or a recommendation to buy, sell, or hold NVVE or any other security. Always do your own research, read the company's latest filings and press releases, and consider speaking with a licensed financial adviser before making investment decisions—especially in micro‑cap names with this level of risk. 1. www.benzinga.com, 2. www.businesswire.com, 3. www.businesswire.com, 4. www.businesswire.com, 5. www.sec.gov, 6. www.benzinga.com, 7. www.benzinga.com, 8. www.tipranks.com, 9. www.benzinga.com, 10. www.businesswire.com, 11. www.businesswire.com, 12. www.businesswire.com, 13. www.businesswire.com, 14. www.benzinga.com, 15. www.gurufocus.com, 16. www.businesswire.com, 17. www.businesswire.com, 18. de.investing.com, 19. www.businesswire.com, 20. www.businesswire.com, 21. www.businesswire.com, 22. www.businesswire.com, 23. www.businesswire.com, 24. www.businesswire.com, 25. www.nasdaq.com, 26. www.sec.gov, 27. www.sec.gov, 28. www.businesswire.com, 29. de.investing.com, 30. www.sec.gov, 31. www.sec.gov, 32. www.gurufocus.com, 33. www.businesswire.com, 34. www.businesswire.com, 35. de.investing.com, 36. de.investing.com, 37. www.sec.gov, 38. www.sec.gov, 39. www.businesswire.com, 40. www.sec.gov, 41. www.gurufocus.com, 42. www.tipranks.com, 43. www.gurufocus.com, 44. www.businesswire.com, 45. www.sec.gov, 46. www.businesswire.com, 47. www.businesswire.com, 48. www.tipranks.com Earnings Japan storage Nuvve Holding NVVE Q3 2025
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