Nuvve Holding (Nasdaq: NVVE), the developer of a proprietary vehicle-to-grid (V2G) platform, and iconic school bus manufacturer Blue Bird (Nasdaq: BLBD) plan to use the financing resources of Levo Mobility to allow customers to lease V2G-enabled electric school buses, charging infrastructure and energy management for a flat monthly fee.
Levo Mobility is a joint venture of Nuvve, Stonepeak Partners and Evolve Transition Infrastructure. Its Fleet-as-a-Service (FaaS) solution is designed to enable fleets to electrify quickly with no upfront costs and full financing options. Levo provides a turnkey package, including site planning, construction services, deployment of vehicle-to-grid-enabled EVs and associated charging infrastructure, as well as maintenance and energy management services.
All Blue Bird Type C and D electric buses are manufactured with Nuvve’s V2G integration which, when combined with a Nuvve V2G charging station, enables the buses to store and discharge energy. The stored energy across multiple buses can be combined to form virtual power plants (VPPs) that can provide revenue-generating grid services to local utilities. By using Nuvve’s V2G platform, schools can realize cost benefits by intelligently charging electric buses when rates are low and allowing Nuvve to sell the excess energy to the grid when needed.
Levo will offer its Fleet-as-a-Service (FaaS) model through Blue Bird’s nationwide distribution network, providing fully financed electric school buses along with associated charging infrastructure, service and energy management to Blue Bird customers and dealers. Levo has a capital commitment of up to $750 million with the potential to electrify up to 3,500 school buses.
Nuvve’s V2G platform and charging infrastructure will also be installed at Blue Bird’s manufacturing facility, and at selected Blue Bird dealers in multiple US states.
“We are always looking at innovative ways to reduce our customers’ cost of ownership for their school buses,” said Blue Bird CEO Phil Horlock. “By incorporating the cost of charging infrastructure and the benefits from lower operating costs and V2G revenue into the lease price, the total value of zero-emission Blue Bird school buses becomes very attractive.”