Press Release

Kirkland Advises Stonepeak on $750 Million Sustainable Infrastructure JV with Nuvve

Kirkland & Ellis counseled Stonepeak Partners LP, a private equity firm specializing in infrastructure investing, on its agreement with Nuvve Holding Corp. (Nasdaq: NVVE), a global technology leader accelerating the electrification of transportation through its proprietary vehicle-to-grid (V2G) platform, to pursue the formation of a new sustainable infrastructure joint venture called Levo Mobility LLC. Upon signing of definitive documents and closing, Levo will utilize Nuvve’s proprietary V2G technology and Stonepeak’s capital to help accelerate the deployment of electric fleets, including thousands of zero-emission electric school buses for school districts nationwide through “V2G Hubs” and Transportation-as-a-Service. Stonepeak, along with its portfolio company Evolve Transition Infrastructure LP, plans to deploy up to an aggregate $750 million capital commitment in the form of preferred equity to Levo to fund acquisition and development costs, with an option to upsize their commitment. 

Read Nuvve’s press release here

The Kirkland team was led by corporate partners John Pitts and Andy Calder and associates Stephen Noh and Tyler Dunphy; capital markets partner Julian Seiguer and associate Atma Kabad; technology & IP transactional partner Seth Traxler and associate Matt Darch; and tax partners David Wheat and William Dong.