Editor’s Note: The story has been updated to mention acquisition of ‘net assets‘

Nuvve Holding Corp. ( NVVE ) on Tuesday announced the acquisition of substantially all of the net assets of Fermata Energy LLC, a V2G platform provider in the U.S.

The acquisition was completed through Nuvve’s newly formed subsidiary, Fermata II LLC (Fermata 2.0), which focused on scaling intelligent, bidirectional energy solutions.

Fermata 2.0 acquired substantially all of the assets of Fermata and assumed certain specified liabilities. It issued 4,900,000 shares of convertible preferred stock to former Fermata debt holders as part of the transaction. The total purchase price is approximately $659,000, consisting of $340,000 in cash and the remainder in assumed liabilities.

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Nuvve ( NVVE ) intends to raise additional capital to support future operational funding needs by offering up to 25% equity in Fermata 2.0.

On Monday, Nuvve ( NVVE ) launched a new wholly owned subsidiary that is investing in digital assets and blockchain ventures.

The move signals a broader shift for the company as it seeks to tap into emerging technologies beyond its focus on grid modernization and vehicle-to-grid (V2G) services.

Fermata 2.0 will be jointly led by Gregory Poilasne as CEO and Hamza Lemsaddek as Chief Operating Officer.

Immediate operational efficiencies include consolidating software platform teams and AWS infrastructure within Fermata 2.0, significantly reducing annual expenses by approximately $2 million. Sales synergies are emerging as Nuvve ( NVVE ) expands its hardware offerings into markets previously served by Fermata.

Joint engineering and R&D initiatives will pursue innovation and collaborative grant-funded projects, further supported by the combined Nuvve ( NVVE ) and Fermata IP and engineering resources.

Fermata 2.0 will deliver a new generation of white-label software solutions, combining Fermata’s optimization and forecasting capabilities with Nuvve’s advanced AI-driven grid intelligence.

The assets acquisition strengthens Nuvve’s comprehensive intellectual property portfolio, diversifies market risk, and enhances its range of U.S.-built certified hardware through Fermata’s established domestic manufacturer relationships, adding resilience amid evolving tariff policies.

This assets acquisition also positions Nuvve ( NVVE ) to capitalize on accelerating regulatory tailwinds such as the Inflation Reduction Act and state-level grid modernization incentives, further expanding the total addressable market for V2G applications.

Fermata 2.0 is positioned to play a critical role in Nuvve’s growth strategy as the company expands its presence in behind-the-meter markets and strengthens its VPP services across regulated and deregulated markets alike, with the potential to drive incremental revenue from new white-label licensing opportunities, expanded DER optimization contracts, and fleet electrification partnerships.

It also provides a focused investment vehicle within Nuvve ( NVVE ) for scaling software-first energy services.

In February, Nuvve ( NVVE ) was awarded a $400 million contract from the State of New Mexico.

Under the contract, Nuvve ( NVVE ) will provide a comprehensive, turnkey electrification solution over the next four years to support New Mexico’s adoption of zero-emission vehicles and renewable energy goals.

Price Action: At the last check on Tuesday, NVVE stock was trading 3% higher to $0.89 during the premarket session.