Fleet Financing

WAVE, an Ideanomics Subsidiary, Wins Sourcewell Supplier Contract | State


NEW YORK, August 6, 2021 / PRNewswire / – WAVE (Wireless Advanced Vehicle Electrification), a subsidiary of Ideal (NASDAQ: IDEX) and a leading developer of high-power inductive charging solutions for medium and heavy-duty vehicles, has won a cooperative purchase contract in the Sourcewell Wireless Inductive Charging Solutions category.

Sourcewell is an autonomous government organization with over 40 years of dedicated service offering cooperative purchasing with over 400 competitively solicited contracts with government, educational and non-profit entities across North America. Sourcewell helps participating agencies save time and money during the purchasing process by capturing the purchasing power of over 50,000 organizations. Agencies choose from a wide range of products and services, or work with Sourcewell’s in-house specialists to find the solution that matches the agency’s needs. To learn more about Sourcewell contracts, visit https://sourcewell-mn.gov.

“This contract is a huge victory for the WAVE team as it will allow us to work more effectively with our customers. They now have direct access to WAVE’s innovative charging solutions, bypassing the lengthy and costly bidding process. noted Kristen helsel, Director of Revenue at Ideanomics. “We are honored to be the only inductive wireless charging solution to be honored in this round. We look forward to partnering with Sourcewell members, especially municipalities, ports and transit agencies, to accelerate the future of wireless charging. “

“One of the biggest challenges for fleet operators to switch to climate-friendly, zero-emission vehicles is matching the range and duty cycle of outgoing fossil fuel vehicles,” said Michel masquelier, CEO of WAVE. “Automated, fast and high-power wireless charging will make it easier for Sourcewell members to extend the reach of their next-generation electric vehicles, making the transition to a more sustainable fleet easier. “

As an example, the Antelope Valley Transit Authority in northern Los Angeles County operates the largest fleet of battery-powered electric buses in the United States and operates 12 WAVE wireless chargers on 100 square miles of roads.

Integrated into the roads and charging vehicles during scheduled stops, the fully automated hands-free WAVE system eliminates battery range limitations and allows fleets to achieve ranges corresponding to those of internal combustion engines. Wireless charging systems offer several compelling advantages over plug-in charging systems, including reduced maintenance, improved health and safety, and accelerated energy connection. Plus, wireless charging on the go allows for longer trips or smaller batteries while maintaining battery life.

For more information and news on WAVE, visit https://waveipt.com. For more information and news on Ideanomics’ other investments and subsidiaries, please visit https://ideanomics.com.

About WAVE, Inc.

With a world-leading number of high-power and rigorously proven inductive charging systems deployed, WAVE enables commercial fleet operators to expand the range of medium and heavy electric vehicles faster and easier. Founded in 2011, with systems ranging from 125 kW to 500 kW, WAVE makes tomorrow’s EV charging technology available today. Learn more about www.waveipt.com.

About Ideanomics

Ideal is a global company focused on the convergence of financial services and industries in the throes of technological disruption. The Ideanomics Mobility division is a service provider that facilitates the adoption of electric vehicles by commercial fleet operators by providing vehicle purchasing, financing and leasing and energy management solutions within the framework of an innovative sales model from finance to recharge (S2F2C). Ideanomics Capital focuses on disruptive fintech solutions for the financial services industry. Together, Ideanomics Mobility and Ideanomics Capital provide customers and global partners with cutting-edge technologies and services designed to improve transparency, efficiency and accountability, and offer shareholders the opportunity to participate in sectors with high growth potential.

Contacts:

Ideanomics, Inc.

Tony sklar, Senior Vice President of Investor Relations

1441 Broadway, Suite 5116, New York, New York State 10018

[email protected]

Jeremy Ertl, Skyya PR for Ideanomics

[email protected]

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SOURCE Ideanomics


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