Nuvve Holding Corp. (NASDAQ:NVVE), a global leader in grid modernization and vehicle-to-grid (V2G) technology, today announced the formation of Nuvve New Mexico LLC, a new subsidiary created to support the company's recently awarded State of New Mexico contract. The new entity will serve as a regional representative company, ensuring the successful execution of the contract and the expansion of Nuvve's innovative energy solutions across the state.

The award comes as New Mexico advances transportation electrification and grid modernization initiatives. The state has taken a proactive stance with strong leadership from Governor Michelle Lujan Grisham's executive orders and a current legislative session that includes over 50 bills for appropriations that support electrification. The 2025 legislative session's bills together propose over $6 billion in appropriations, funding programs and incentives for electric school buses, EV charging infrastructure, zero-emission vehicle adoption, advanced grid technologies, microgrids, and resilience planning.