NEW YORK, Aug. 6, 2021 /PRNewswire/ -- WAVE (Wireless
Advanced Vehicle Electrification), a subsidiary of Ideanomics
(NASDAQ: IDEX) and a leading developer of high-power inductive
charging solutions for medium- and heavy-duty vehicles, has been
awarded a cooperative purchasing contract in the wireless inductive
charging solutions category from Sourcewell.
Sourcewell is a self-sustaining government organization with
more than 40-years of dedicated service offering cooperative
purchasing with more than 400 competitively solicited contracts to
government, education, and nonprofit entities throughout
North America. Sourcewell helps
participating agencies save time and money during the purchasing
process by capturing the buying power of more than 50,000
organizations. Agencies choose from a wide array of products and
services, or work with Sourcewell's in-house specialists to find
the solution that fits the agency's needs. To learn more about
Sourcewell contracts, visit https://sourcewell-mn.gov.
"This contract is a huge win for the team at WAVE as it will
allow us to operate more efficiently with our customers. They now
have direct access to WAVE's innovative charging solutions,
bypassing the lengthy and expensive bidding process." said
Kristen Helsel, Chief Revenue
Officer of Ideanomics. "We are honored to be the only wireless
inductive charging solution to be awarded 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 fleet operators face in moving to
climate-friendly, zero-emission vehicles is matching the range- and
duty-cycle of outgoing fossil fuel-based vehicles," said
Michael Masquelier, CEO of WAVE.
"Fast, high-power, automated wireless charging will enable
Sourcewell members to more easily extend the range of their
next-generation EVs, 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 battery-electric bus fleet
in the U.S. and operates 12 WAVE wireless chargers over 100 square
miles of routes.
Embedded in roadways and charging vehicles during scheduled
stops, the fully automated, hands-free WAVE system eliminates
battery range limitations and enables fleets to achieve driving
ranges that match that of internal combustion engines. Wireless
charging systems offer several compelling benefits over
plug-in-based charging systems, including reduced maintenance,
improved health and safety, and expedited energy connection.
Furthermore, wireless in-route charging enables greater route
lengths or smaller batteries while also maintaining battery
life.
For more information and news on WAVE, visit
https://waveipt.com. For more information and news on other
Ideanomics investments and subsidiaries, please visit
https://ideanomics.com.
About WAVE, Inc.
With a global-leading number of high-power, rigorously proven
inductive charging systems deployed, WAVE enables commercial fleet
operators with a faster, easier way to extend the range of medium-
and heavy-duty electric vehicles. Founded in 2011, with systems
ranging from 125kW to 500kW, WAVE makes tomorrow's EV charging
technology available today. Learn more at www.waveipt.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.
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