NEW YORK, Aug. 4, 2021 /PRNewswire/ -- Solectrac, a
subsidiary of Ideanomics (NASDAQ: IDEX) ("Ideanomics" or the
"Company"), today announced the launch of the all-new e70N electric
tractor, a specially designed, narrow model purpose-built for easy
handling and maneuverability on vineyards and farm operations.
Today's news follows the Company's July 1,
2021 announcement that long-time agriculture and
construction industry veteran Mani
Iyer has been appointed Solectrac CEO.
The Solectrac e70N (Narrow) electric tractor is a 4WD, 70 HP
(horsepower) vehicle designed for larger agricultural applications
including farms, vineyards, and orchards. The e70N opens a bold new
market of opportunities for Solectrac. With up to eight hours of
operation from a single charge and the ability to extend that time
via swappable battery packs, the e70N allows operators to work more
efficiently. The electric tractor sports a narrow 54-inch width,
and Level 2 charging via 220 VAC or a solar array. The e70N is now
available for pre-order with a fully refundable $1,000 deposit. Delivery expected in Spring
2022.
"The e70N is yet another innovative electric tractor
breakthrough from Solectrac, this time focused on commercial-level,
heavy-duty farm and vineyard operations," said Solectrac CEO
Mani Iyer. "This category of
zero-emission electric tractors is in high demand as many farmers
look to cut emissions and reduce noise pollution, but still require
larger, more powerful vehicles with easy maneuverability. The e70N,
with swappable battery pack technology, was designed to meet the
needs of these customers. The unique and multi-faceted new model
will position Solectrac to gain market share and compete very
favorably with medium- and heavy-duty tractors in both agriculture
and commercial tractor segments."
Solectrac manufactured and delivered e70N electric tractors to
three local farms and vineyards in California on June
29-30, 2021, including The Mushroom Farm in Pescadero, Arroyo Lindo Vineyard in
Windsor, and Old School Vineyard
in Napa. The delivery of these
tractors was supported by a grant from the Bay Area Air Quality
Management District's Funding Agriculture Replacement Measures for
Emission Reductions Demonstration Program (FARMER) which provides
incentives to reduce agriculture sector air pollutants and
greenhouse gas emissions. The FARMER program provides up to 80
percent of the cost for farmers to replace diesel tractors with
less polluting alternatives. The California Air Resources Board
created a new project category for advanced technology
demonstration projects to show the viability of new technologies,
such as Solectrac's electric tractors, to perform the same work as
the diesel equipment they would replace. Solectrac is one of the
first recipients of this new project category. For more
information, visit www.baaqmd.gov/agriculture.
This project was supported by the California Climate Investments
program. The FARMER program is part of California Climate
Investments, a statewide program that puts billions of
Cap-and-Trade dollars to work reducing GHG emissions, strengthening
the economy, and improving public health and the environment,
particularly in disadvantaged communities. The Cap-and-Trade
program also creates a financial incentive for industries to invest
in clean technologies and develop innovative ways to reduce
pollution. California Climate Investments projects include
affordable housing, renewable energy, public transportation,
zero-emission vehicles, environmental restoration, more sustainable
agriculture, recycling, and more. At least 35 percent of these
investments are located within and benefiting residents of
disadvantaged communities, low-income communities, and low-income
households across California. For
more information, visit the California Climate Investments website
at: www.caclimateinvestments.ca.gov.
"We were excited when we learned that the Bay Area Air Quality
Management District was going to support a demonstration project
for an electric tractor that could be used on commercial farms like
ours," said Michelle Riddle, VP of
Vineyard Management for Arroyo Lindo Vineyard and Old School
Vineyards. "Solectrac's electric tractors are appealing to us
because they are quiet and diesel-free, so they reduce our local
emissions. Part of being sustainable is creating a healthy and safe
environment for the people who work here at the vineyard. An
electric tractor with no exhaust and much less noise will help us
do that."
Solectrac provides zero-emission electric tractor models for
applications that span the spectrum of small hobby farms and
special utility operations to larger-scale, commercial-level
vineyards and farms. Customer deliveries are happening every month,
with new orders expected to deliver in Spring 2022.
To learn more about Solectrac's mission to lead the transition
to zero-emission regenerative agriculture, visit solectrac.com. For
more information and news on other Ideanomics subsidiaries, please
visit https://ideanomics.com.
About Solectrac
Solectrac, Inc., located in
Northern California, has developed
100% battery-powered, all-electric tractors for agriculture and
utility operations. Solectrac tractors provide an opportunity for
farmers around the world to power their tractors by using the sun,
wind, and other clean renewable sources of energy. The company's
mission is to offer farmers independence from the pollution,
infrastructure, and price volatility associated with fossil
fuels.
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.
Contacts:
Ideanomics, Inc.
Tony Sklar, SVP of Investor
Relations
1441 Broadway, Suite 5116, New York,
NY 10018
ir@ideanomics.com
Jeremy Ertl, Skyya PR for
Ideanomics
jeremy@skyya.com
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SOURCE Ideanomics