ORLANDO, Fla., Nov. 4, 2021 /PRNewswire/ -- Ideanomics
(NASDAQ: IDEX), a global company focused on driving the adoption of
commercial electric vehicles and associated energy delivery, today
announced that it will exhibit at the 2021 APTA TRANSform
Conference & EXPO, highlighting subsidiary WAVE, a
market-leading high-power inductive charging solution provider for
medium- and heavy-duty vehicles. WAVE also announced an
additional $280K follow-on order from
the Antelope Valley Transit Authority (AVTA) for a depot charger as
part of that organization's continued focus on building out a
successful wireless infrastructure. The American Public
Transportation Association conference has traditionally been an
opportunity for the transit industry to determine what is now and
what is next for public transportation - with WAVE as a clear
example of what is next.
WAVE is a wireless, hands-free, electric vehicle charging system
for transit agencies, ports and warehouse applications that quickly
adds meaningful range and power for battery-electric buses without
human intervention or mechanical contact. Unlike plug-in and
overhead charging systems that require time-consuming, hands-on
intervention, clutter the ground, and require excessive
maintenance, WAVE's ruggedized pads are embedded in the roadway and
hidden. Within seconds of scheduled stops and natural dwell times,
power is transferred over a 5- to 8-inch air gap to a receiving pad
on the vehicle's undercarriage. Charging is fast and requires no
mechanical contact or human intervention.
"Historically, battery range limitations have posed a
significant challenge for public transportation agencies and fleet
operators alike," said Aaron
Gillmore, CEO of WAVE. "We're excited to highlight for APTA
attendees how WAVE is eliminating the range concerns that challenge
the transit industry. WAVE is providing simple hands-free, wireless
electric vehicle charging systems for transit agencies, so they do
not need to worry nor carry excessive amounts of batteries as they
make the transition to electric. We can help transit agencies meet
their zero-emission goals by overcoming many of the charging
barriers of plug-in and overhead charging technologies, while
lowering the total cost of the fleet's maintenance and
operations."
WAVE's roadway-embedded charging pads are currently being used
by the Antelope Valley Transit Authority (AVTA) in Northern Los
Angeles County, powering AVTA's fully electric 65-bus local fixed
route fleet. This year, the fleet logged its five millionth mile,
less than seven years after its first electric bus went into
service. The partnership between WAVE and AVTA continues to grow in
scope, and the new order announced today is a follow-on to a
multi-million dollar order announced in September whichis another
step in helping AVTA achieve full-fleet scale to meet
zero-emissions goals.
APTA EXPO attendees can learn more about Ideanomics and WAVE's
cutting-edge technology at booth #711.
For more information and news on Ideanomics, please visit
https://ideanomics.com.
About Ideanomics
Ideanomics is a global company focused on the convergence of
financial services and industries experiencing technological
disruption. The Ideanomics Mobility division is a service provider
which facilitates the adoption of electric vehicles by commercial
fleet operators through offering vehicle procurement, finance and
leasing, and energy management solutions under an innovative sales
to financing to charging (S2F2C) business model. Ideanomics Capital
is focused on disruptive fintech solutions for the financial
services industry. Together, Ideanomics Mobility and Ideanomics
Capital provide global customers and partners with leading
technologies and services designed to improve transparency,
efficiency, and accountability, and offer shareholders the
opportunity to participate in high-potential growth industries.
Safe Harbor Statement
This press release contains certain statements that may include
"forward looking statements". All statements other than statements
of historical fact included herein are "forward-looking
statements." These forward-looking statements are often identified
by the use of forward-looking terminology such as "believes,"
"expects" or similar expressions, involve known and unknown risks
and uncertainties, and include statements regarding our intention
to transition our business model to become a next-generation
financial technology company, our business strategy and planned
product offerings, our intention to phase out our oil trading and
consumer electronics businesses, and potential future financial
results. Although the Company believes that the expectations
reflected in such forward-looking statements are reasonable, they
do involve assumptions, risks and uncertainties, and these
expectations may prove to be incorrect. You should not place undue
reliance on these forward-looking statements, which speak only as
of the date of this press release. The Company's actual results
could differ materially from those anticipated in these
forward-looking statements as a result of a variety of risks and
uncertainties, such as risks related to: our ability to continue as
a going concern; our ability to raise additional financing to meet
our business requirements; the transformation of our business
model; fluctuations in our operating results; strain to our
personnel management, financial systems and other resources as we
grow our business; our ability to attract and retain key employees
and senior management; competitive pressure; our international
operations; and other risks and uncertainties disclosed under the
sections entitled "Risk Factors" and "Management's Discussion and
Analysis of Financial Condition and Results of Operations" in our
most recent Form 10-K and Form 10-Q filed with the Securities and
Exchange Commission, and similar disclosures in subsequent reports
filed with the SEC, which are available on the SEC website at
www.sec.gov. All forward-looking statements attributable to the
Company or persons acting on its behalf are expressly qualified in
their entirety by these risk factors. Other than as required under
the securities laws, the Company does not assume a duty to update
these forward-looking statements.
Contacts:
Ideanomics, Inc.
Tony Sklar, SVP of Investor
Relations
1441 Broadway, Suite 5116, New York,
NY 10018
ir@ideanomics.com
Malory Van Guilder, Skyya PR for Ideanomics
malory@skyya.com
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