NEW YORK, Aug. 3, 2021 /PRNewswire/ -- Ideanomics
(NASDAQ: IDEX), ("Ideanomics" or the "Company"), announced today
that it has pledged $25 million to
support minority and underserved communities, driven by the
company's continued environmental, social, and governance ("ESG")
commitment.
The $25 million investment is
dedicated to the Minority Depository Institution ("MDI") Keepers
Fund sponsored by the National Bankers' Association, an
organization of minority-owned banks that aim to increase
inclusivity in the financial services industry. Through the Keepers
Fund, the investment will provide capital and resources primarily
in low- and moderate-income areas. It will be used to grow a more
skilled workforce, increase employment opportunities, and support
businesses' growth among minority banks and underserved
communities.
This commitment is part of Ideanomics' effort to disrupt the
financial services industry. In addition to increasing transparency
through innovative technologies, the company considers changing
racial and gender inequity an imperative aspect of the
transformation.
"Enabling financial empowerment has been the common thread for
all businesses under Ideanomics Capital," said Alf Poor, CEO of Ideanomics. "We are excited to
join a network of progressive supporters of the MDI Keepers Fund.
This is a proactive investment we are putting into communities that
require the most disruption and transformation. We believe this
fund will allow us to continue supporting diversity in our
subsidiary businesses while maximizing the impact to these
communities."
"I am proud to stand with Ideanomics as they elevate
minority-owned organizations and commit to change the composition
of this industry," said Raymond
Davison, CEO of Timios, an Ideanomics subsidiary that
provides nationwide title and settlement solutions. "Being one of
the few African American CEOs in the industry, I empathize with the
challenges faced by many minorities and underserved individuals -
whether it is seeking better jobs and relatable mentors or gaining
better access to financial tools and resources. At Timios we look
for opportunities to make positive change and as a part of
Ideanomics, we continue that effort on a broader scale. This
is just the first step in our plan to make real and measurable
change."
About Ideanomics
Ideanomics is a global company focused on the convergence
of financial services and industries experiencing technological
disruption. Our 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 our 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 our global customers and partners with leading
technologies and services designed to improve transparency,
efficiency, and accountability, and our shareholders with 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.
Investor Relations and Media Contacts:
Ideanomics, Inc.
Tony Sklar, SVP of Investor
Relations
1441 Broadway, Suite 5116, New York,
NY 10018
ir@ideanomics.com
Skyya PR
Jeremy Ertl
jeremy@skyya.com
Ph: (507) 458-9404
View original content to download
multimedia:https://www.prnewswire.com/news-releases/ideanomics-25-million-pledge-to-support-minority-and-underserved-communities-301346594.html
SOURCE Ideanomics