Nuvve Holding Corp Q1 2021 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Eric Stine - Craig-Hallum Capital - Analyst : So, obviously, over the last 6 to 12 months, there's certainly been a pickup of vehicle-to-grid activity and companies talking about how they play in this space, but also it's certainly not all created equally. So, maybe just talk about your technology, how it differs from a lot of what is out there or what is talked about. And then maybe just broadly, if there's a way to talk about your level of involvement with a number of these projects out there relative to some of the other companies that are talking about it. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MAY 17, 2021 / 1:00PM, NVVE.OQ - Q1 2021 Nuvve Holding Corp Earnings Call

Question: Eric Stine - Craig-Hallum Capital - Analyst : Got it, very helpful on that. And maybe your capabilities, I guess that speaks to why you signed or plan to form this joint venture with Stonepeak on that. I mean, any pipeline details you can share there? Or do you have specific opportunities that are targeted for that initial $750 million, which I know can be upsized? Or just any details there would be helpful.

Question: Eric Stine - Craig-Hallum Capital - Analyst : Yep, got it. And maybe last one from me, just kind of sticking with that topic. I mean, third-party financing options, you're starting to see it. Maybe just talk about what you're seeing outside of your plans. And then just how receptive school districts are to that. Because I would think there's some level of needing to educate school districts that that is a potential solution going forward.

Question: Craig Irwin - ROTH Capital Partners - Analyst : So, Gregory, I know the revenue progression is going to be lumpy, given the nature of your business and the size of the individual projects. But there's a little bit of controversy out there as far as the outlook for revenue this year. A lot of people have been asking what's realistic for an outlook. I understand the earn out in your filings is 4 million shares based on a $30 million revenue number in your 2021 10-K. Can you confirm that for us? And then what gives you confidence that that is a reasonable target, that that's something you can make? Is that something you can make, you think, for 2021?

Question: Craig Irwin - ROTH Capital Partners - Analyst : Understood, understood. If I could ask a question specifically about Levo and Stonepeak. So, if we look at the front-end revenue for Nuvve, and sort of use the breakdown versus the cost of the electric school buses and other pieces in the system. It looks like total investment of the $750 million in capacity you identify in your release, that that could translate into something in the range of $125 million of revenue if it was fully invested in school buses. Is that ballpark? And would you expect this first capacity here to be largely invested in school buses? Or will we potentially see the other services like taxis and commercial vehicles potentially in there as well?

Question: Craig Irwin - ROTH Capital Partners - Analyst : Great. And then last question if I may. Seasonality it seems tends to be a very big factor for infrastructure in the school bus market. Do you expect similar seasonality to play for Nuvve where really July and August most of the deliveries and most of the installations are made, and then you see sort of incremental deliveries at points throughout the rest of the year? Or is it possible that we see large installations done outside of that typical window?

Question: Craig Irwin - ROTH Capital Partners - Analyst : Thank you. Congratulations on a very successful coming public process.