#46: V2G Shakeup: Nuvve Eyes Fermata

V2G begins to consolidate, Chicago rethinks charger deployment, and a Seattle-based startup to watch

Author

Steve Taylor
April 25, 2025

The 3 big stories:

  • Nuvve eyes Fermata Energy's software 

  • Chicago launches EV infrastructure framework

  • Seattle startup Juicer Energy is one to watch

Plus, featured webinars, jobs, and news.

Enjoy,

–Steve

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Current EVents

EV Industry Updates

Nuvve is in talks to acquire Fermata Energy, a Carlyle-backed developer of bidirectional charging technology that recently laid off most of its staff.

The potential acquisition is primarily focused on Fermata’s intellectual property, especially its software assets, following the company’s struggles to scale through sales growth alone.

Fermata previously raised nearly $57M, including a $40M Series A during the 2021 climate-tech investment boom. Its investors include Carlyle, Verizon Ventures, Skyview Ventures, I Squared Capital, and ClearSky.

Nuvve, which went public via SPAC in 2021, has seen its share price fall to around $1.

CEO Gregory Poilasne noted that while Nuvve is in discussions with multiple companies, “there is currently no deal with Fermata.”

Steve's Take

This potential acquisition highlights a persistent challenge in the V2G space, which is translating promising technology into a sustainable business model.

If the acquisition happens, the deal would unite two early pioneers in bidirectional charging at a time when the sector is facing increasing headwinds.

Major automakers like Ford, Tesla, Hyundai, and Kia are integrating V2G capabilities directly into their vehicles, posing a growing threat to standalone V2G technology providers.

Despite the clear technical promise of bidirectional charging, building profitable businesses around it has proven difficult. Slow utility adoption, regulatory hurdles, and limited paths to monetization have made success difficult even for well-funded players.

–Steve

Power and Policy

Chicago’s Department of Transportation has announced its first comprehensive EV infrastructure plan, emphasizing equity and expanded access citywide.

The Chicago Moves Electric Framework aims to close the widening gap between EV adoption and charging availability, specifically in underserved neighborhoods.

While EV registrations have increased from 1,865 in 2018 to over 20,000 in 2024, the city’s 860 public chargers remain heavily concentrated in downtown and higher-income areas.

Key initiatives include a curbside charging pilot in high-density residential neighborhoods with limited off-street parking and a “Low-Emission Zone” program targeting communities most impacted by air pollution.

Chicago secured $15M in federal funding in September 2024 to install Level 2 and fast chargers at public sites such as libraries and Midway Airport.

The broader Climate Action Plan calls for 2,500 public charging stations by 2035, full electrification of the municipal fleet, and ride-hailing electrification by 2030.

Rob's Take:

Chicago's approach represents a thoughtful blend of infrastructure development, climate action, and social equity.

Prioritizing charger deployment in neighborhoods that bear a disproportionate pollution burden, but currently host just 7.8% of the city’s public chargers, is a smart, targeted move.

The curbside charging pilot tackles one of the most persistent barriers to urban EV adoption: limited off-street parking. Developing viable models for on-street charging could unlock EV ownership for millions of urban residents who rely exclusively on street parking.

If fully executed, Chicago’s plan would serve as an example of the kind of public-private collaboration needed at the state and local levels to accelerate EV adoption.

–Rob

EV Startup Spotlight

Juicer Energy Aims to Simplify EV Charging for Multi-Unit Properties
Seattle-based startup Juicer Energy raised $7M in August 2024 to tackle EV charging needs at apartments, hotels, and commercial properties with a full-service model.

Founded by former OfferUp CEO Nick Huzar, Juicer takes a fundamentally different approach by managing the entire charging process from assessment to installation rather than simply selling hardware to property owners.

Juicer’s rapid deployment model allows it to complete site assessments and installations in under a month, typically installing 10 or more stations per property.

Its proprietary load management technology optimizes power distribution across chargers, minimizing the need for costly electrical upgrades.

The company generates revenue through setup fees, monthly charges per active station, and a revenue-sharing model with property managers.

Currently operating in the Seattle area, Juicer plans to expand. Its leadership team includes COO Amit Mital, a former Microsoft executive and White House advisor, and CTO Goutham Sukumar, former CEO of NitroDesk.

Steve's Take:

Juicer is one of a growing number of early stage companies focused on specific market niches rather than trying to serve every customer segment.

As discussed in our Q1 2025 report, multifamily property charging is emerging as one of the fastest-growing areas of specialized focus. Juicer’s model directly addresses the barriers that have slowed adoption in this space.

By managing the entire installation and operations process, Juicer removes the technical hurdles that often discourage property managers from investing in EV infrastructure.

Juicer is a startup I’m watching closely due to its veteran founding team (ex-OfferUp, Microsoft, NitroDesk), strong backers like A* Capital, Spencer Rascoff, and Michael Ovitz, and proximity to other startups in the charging infrastructure space like Electric Era and Autev.

–Steve 

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⚡️Steve and Rob

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