Nuvve Holding awarded contract by New Mexico for electrification solution

Nuvve Holding (NVVE) announced it has been awarded a contract by the State of New Mexico to provide an electrification solution to support New Mexico’s zero-emission vehicle adoption and renewable energy goals. Nuvve estimates this contract’s total addressable market (TAM) for the SONM’s fleet electrification and supporting infrastructure to be approximately $400M. The contract is structured as a statewide price agreement, enabling long-term progress across public agencies throughout New Mexico. Nuvve is expected to announce the first project by the end of Q2.