SNMP Stock: Evolve Transition Infrastructure Shares Crosses $1 Mark In Opening Trade

Evolve Transition Infrastructure LP (NYSEAMERICAN:SNMP) stock gapped up this morning and soared 43% in the opening trade.

Investors seem to be reacting to the company’s positive announcement.

SNMP Stock: Evolve Transition Infrastructure Shares Crosses $1 Mark In Opening Trade

The company announced an agreement with Nuvve Holding Corp., a global technology leader accelerating the electrification of transportation through its proprietary vehicle-to-grid (V2G) platform, and certain investment vehicles managed by Stonepeak Partners LP, a private equity firm specializing in infrastructure investing, to pursue the formation of a new sustainable infrastructure joint venture called Levo Mobility LLC.

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Upon signing of definitive documents and closing, Levo will utilize Nuvve’s proprietary V2G technology and capital from Stonepeak and Evolve 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 (“TaaS”).

SNMP stock is up 43.66% at $1.02.

 

Michael Rowels

Weekend Contributor. Writing for business and finance publishers has become his passion over the last decades after he completed a master's degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.