Clean energy company Nuvve Holding Corp. (NASDAQ:NVVE) announced Friday a partnership with OMNIA Global to develop more than 1 gigawatt of battery energy storage projects over the next two years.
As part of this collaboration, the initiative will begin with a large-scale installation in Sweden. The agreement strengthens Nuvve's presence in Europe's rapidly expanding grid-scale energy storage sector.
Battery Storage Project Launch
The partnership's first project is a 50-MW/75-MWh CE-approved battery energy storage system in Sweden, expected to begin operations in Q2 2026.
BESS helps stabilize electricity networks by storing surplus power and delivering it during high demand. The technology is increasingly critical as renewable generation grows and grids require flexible capacity to manage fluctuations.
Market Opportunity And Revenue Potential
Sweden has become a key destination for storage investments due to strong renewable generation, expanding electrification across transportation and industry, and supportive energy market structures.
These factors are driving demand for grid-support solutions like battery storage.
Energy storage assets in some European markets are currently generating estimated annual revenue between 240,000 euros and 300,000 euros per megawatt (about $260,000–$325,000 per MW). Once operational, the Swedish facility could begin contributing incremental revenue to Nuvve in 2026
Nuvve will own and manage the facility while providing market access services to optimize revenue and support grid participation.
The move strengthens the company's position in the growing Nordic energy storage market. It also aligns with its long-term strategy to deploy scalable, revenue-generating infrastructure across expanding battery storage opportunities.
Executives Highlight Growth Opportunity
"The partnership represents a significant revenue opportunity spread across a pipeline exceeding 1GW, positioning Nuvve as a leading global provider of grid-scale energy storage," said Gregory Poilasne, CEO of Nuvve.
Daniel Hansen, CEO and chairman of OMNIA Global, commented, “The European market has high arbitrage opportunities for fast movers and with the partnership of Nuvve we have found a partner that efficiently and comfortably can look at a large scale roll out with the most experienced team of its sector."
NVVE Price Action: Nuvve Holding shares were up 2.40% at $1.28 during premarket trading on Friday. The stock is trading near its 52-week low of $1.00, according to Benzinga Pro data.
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