PR93575

NAPLES, Fla., Dec. 10, 2021 /PRNewswire=KYODO JBN/ --

--Ecolution to Introduce Technology in St. Paul, MN and Twin Cities Area;

Establish Regional Headquarters

Ecolution Power Company (Ecolution), a clean energy technology company, has

signed an LOI to collaborate with Levo Mobility LLC (Levo) to help create the

first smart city to achieve net-zero carbon emissions. Ecolution plans to

deploy its patented Module Active Response System (MARS) proof-of-concept in

Greenville, SC, followed by a roll-out of its technology in Minnesota for 2022.

Ecolution's MARS technology harvests kinetic energy from moving train cars and

truck trailers, generating affordable clean electricity which is downloaded

into a micro-grid at the train station, at buildings in the city, or placed

directly into the central electric grid. This mobilized kinetic energy would

also be sourced to charge electric school buses. There are approximately 5,000

school buses and 1,000 municipal and mass transit buses in the Minneapolis-St.

Paul greater area which could transition to zero emission electric in the

future.

Through a dedicated project joint venture which may be funded by Levo,

Ecolution plans to supply St. Paul and the Twin Cities area in Minnesota with

electric vehicles and electric vehicle charging stations powered by its

rail-to-grid technology.

"Harnessing the power of clean energy is critical to building a sustainable

future for our city," said Mayor Melvin Carter. "As we continue this vital

work, we look forward to the opportunity to welcome Ecolution into our

community."

"Trains consume a great deal of energy. Our technology recycles that energy,

and in the process lowers electricity costs and carbon emissions," said Johanne

Medina Then, CEO and co-founder of Ecolution. "This transformative process is

now becoming reality with the support of our engineering partners, Day &

Zimmermann and KTM Engineering in South Carolina."

Ecolution recently executed a non-binding letter of intent with Levo whereby

Ecolution would seek up to $30 million of capital from Levo to fund the

purchase of electric buses in phase one of the Minnesota project. Ecolution is

currently in the process of establishing a headquarters in St. Paul.

"Levo is committed to reducing CO2 emissions by leveraging technology and

providing an affordable, simple approach to electrification. We manage the

entire, end-to-end process for our customers so they can electrify quickly and

confidently," said Maggie Clancy, chief commercial officer of Levo. "Partnering

with Ecolution helps us fulfill our mission in a new, innovative way, and we

look forward to working closely with the Ecolution Power Company and the City

of St. Paul to achieve their goals."

"All roads to achieving net-zero-carbon emissions must travel through the

transportation sector," said Craig Bouchard, co-founder & executive chairman of

Ecolution. "This partnership establishes a blueprint for how a major

metropolitan area can achieve the net-zero-carbon goal."

About Ecolution Power Company

Ecolution is seeking to become the global transportation industry's largest

source of clean energy. Since its inception in 2016, the minority-owned

company's experienced team of entrepreneurs developed and patented an

innovative method of recycling 'wasted' kinetic energy from moving vehicles

entitled MARS, invented by CTO and Co-Founder Johnny Then Gautier.  Unlike

regenerative braking, this technology requires no engine. The development of

the prototype will enable municipalities, power, and logistics companies to

assess the benefits of the invention. A lead investor in Ecolution Power

Company is Brown Venture Group, LLC is a venture capital firm exclusively for

Black, Latino, and Indigenous technology startups. For more information, visit

www.ecokwh.com

About Levo Mobility LLC

Levo Mobility LLC (Levo) is a joint venture formed by Nuvve Holding Corp.

(NASDAQ: NVVE), Stonepeak Partners, and Evolve Transition Infrastructure LP

(NYSE: SMNP) that provides Fleet-as-a-Service (FaaS) solutions enabling fleets

to switch to electric vehicles (EVs) quickly with no upfront costs and full

financing options. For a flat fee, Levo provides turnkey support including site

planning, construction services, deployment of vehicle-to-grid (V2G)-enabled

EVs and associated charging infrastructure, as well as maintenance and V2G

energy management services to seamlessly transition a customer's fleet to

electric while lowering its total cost of EV operation. Levo combines Nuvve's

proprietary V2G technology, EV OEM partnerships, and expertise in

transportation electrification with substantial capital and additional

resources from Stonepeak and Evolve to bridge the gap between the need to

electrify transportation and the large upfront investment needed to do so.

Levo's mission is to be the all-in-one partner for fleet electrification while

intelligently integrating EVs into the grid and increasing the penetration of

clean energy sources. For more information visit www.levomobility.com

Forward-Looking Statements

Certain statements in this press release constitute "forward-looking

statements." Such forward-looking statements involve known and unknown risks,

uncertainties and other factors which may cause the actual results,

performance, or achievements of Nuvve Holding Corp. to be materially different

from any future results, performance or achievements expressed or implied by

such forward-looking statements. Any statements that refer to expectations or

other characterizations of future events, circumstances or results are

forward-looking statements. Various factors that could cause actual future

results and other future events to differ materially from those in

forward-looking statements include but are not limited to those set forth under

the headings "Forward-Looking Statements" and "Risk Factors" in Nuvve's filings

with the Securities and Exchange Commission (SEC), including its Quarterly

Report on Form 10-Q for the quarter ended September 30, 2021 filed with the SEC

on November 12, 2021, and in the other reports that Nuvve has filed and will

file from time to time with the SEC. Nuvve undertakes no obligation to release

publicly any revisions to any forward-looking statements, except as required by

law.

CONTACT: Ecolution, Paragon PR, Kailey Medzadourian, kailey@paragonpr.com, +1

551-486-8752; or Levo, (W)right On Communications, Chance Shay,

cshay@wrightoncomm.com, +1 619-980-5556

SOURCE: Ecolution Power Company