Shares of vehicle-to-grid technology and deployments company, Nuvve Holding Corp. (NASDAQ: NVVE) soared in pre-market trading at the time of publishing on Friday after the company launched its artificial intelligence technology, Astrea AI “to optimize revenue from ancillary services to Nordic transmission system operators from its V2G fleet customers,” as stated in its press release.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
The company added that Astrea AI will “continuously forecast prices and capacity for Nordic primary reserves to optimize energy market bids.” Primary reserves are frequency regulation services that keep the electricity on the European Union’s (EU) transmission grids at a frequency of 50 Hz (hertz). Bid prices are based on the projections for the next one to two days and are calculated based on a wide set of factors and grid service quantities are auctioned based on these bid prices.
Even with today’s price surge, NVVE stock has tanked by more than 90% in the past year.
