Overview
- The pact outlines six priorities: grid modernization and resilience, school bus electrification, municipal fleet conversion, smart rates to cut peak costs, charging expansion, and renewable integration including vehicle-to-grid.
- The agreement establishes a joint working group to coordinate projects and seek state and federal funding guided by local community needs.
- Technologies under consideration include vehicle-to-grid integration and Battery-as-a-Service to deliver grid services and lower energy costs.
- The MOU was signed by Mayor Dr. Ravi Bhasker, Socorro Electric Cooperative CEO Manuel “Manny” Gonzales, and Nuvve New Mexico CEO Ted Smith.
- Nuvve Holding (NVVE) shares jumped in after-hours trading following the announcement, rising about 77% to roughly $0.29, according to Benzinga.