Growship and Nuvve Japan Strengthen Collaboration in Energy Storage Solutions

Strengthening Collaboration in Energy Storage

Growship Inc., based in Minato Ward, Tokyo, and its U.S. counterpart Nuvve Corporation's Japan subsidiary, Nuvve Japan, have entered a business partnership focused on expanding the energy storage solutions market in Japan. This collaboration aims to streamline the entire process of planning, implementing, and operating energy storage systems, offering a one-stop service to help energy storage owners navigate their business more effectively.

Context and Purpose

With the increasing adoption of renewable energy sources, the need for stable power system adjustments in Japan has surged. Consequently, the energy storage business has gained significant attention. However, several challenges remain prevalent when it comes to planning, implementation, and operation:

- A lack of expertise in site selection and financial simulation.
- Difficulties in evaluating battery systems with electrochemical properties and negotiating with vendors.
- Complicated application procedures and challenges in communicating with financial institutions.
- Insufficient operational knowledge for energy market transactions.

Growship has been a supportive partner for energy storage owners since the early days of this market, offering one-stop consulting services from planning to execution. Meanwhile, Nuvve is a pioneer in Vehicle-to-Grid (V2G) technology, utilizing electric vehicles as mobile energy storage units to participate in the energy market. With nearly a decade of experience as an aggregator in Europe and North America, Nuvve provides crucial operational knowledge for this emerging field.

This partnership will integrate the consulting and aggregation services of both companies, addressing the above challenges and establishing a robust support system that allows energy storage owners to operate their businesses with confidence.

Overview of the Partnership

Through this collaboration, Growship and Nuvve Japan will work together across various business areas to deliver holistic services:

1. Planning (Growship & Nuvve Japan)
- Site evaluations
- Financial simulations and establishing business schemes
- Fund formation

2. Implementation Preparation (Growship)
- Evaluation and selection of battery systems
- Contract negotiations
- Assessment and selection of EPC contractors
- Exploring subsidy utilization
- Presenting to financial institutions

3. Implementation (Growship)
- Subsidy applications
- Construction planning and coordination
- Discussion on grid connection
- Support for operational framework construction

4. Operation (Nuvve Japan)
- Aggregation operations for market participation (VPP collaboration)
- Control and optimization of VPP operations
- Support for maximizing revenue and maintenance management

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Image sourced from Nuvve Japan's website.