On February 11, 2026, Nuvve Holding Corp. terminated a master services agreement with Fresno Economic Opportunities Commission regarding a fleet electrification project, originally valued at approximately $15.7 million. The Company is disputing the termination and negotiating to recover costs for services provided.
Key takeaways
The master services agreement dated May 14, 2024 with Fresno Economic Opportunities Commission was effectively terminated on February 11, 2026.
The total possible estimated fees and expenses payable to the Company under the Agreement was approximately $15.7 million.
The Company disputes whether FEOC properly terminated the Agreement and has reserved its rights.
The Company is currently negotiating with FEOC to determine costs and fees owed for services provided prior to termination.
There is no assurance as to the amount the Company will ultimately receive from FEOC.