SALT LAKE CITY, Sept. 22, 2021 /PRNewswire/ -- WAVE, a
subsidiary of Ideanomics (NASDAQ: IDEX) and the leading high-power
inductive charging solution provider for medium- and heavy-duty
vehicles finalized a large, multi-million dollar purchase order
from the Antelope Valley Transit Authority (AVTA) for 28 additional
wireless charging systems.
This order comes after the 2019 announcement that AVTA would
become the first fully electric fleet powered by wireless chargers,
a direct result of its partnership with WAVE. As the largest
electric mass transit bus fleet in the
United States, AVTA currently serves a population of more
than 450,000 residents in the cities of Lancaster and Palmdale as well as northern Los Angeles County, Calif.
"AVTA is committed to expanding sustainable transportation
options throughout our more than 100 square miles of routes," said
Macy Neshati, CEO of AVTA. "By
partnering with WAVE in 2019, we were able to accomplish the
incredible milestone of becoming the first fully electric fleet
powered by wireless chargers, but we're not stopping there. We are
continuing to build out and invest in our WAVE charging system to
be bigger and better than ever."
WAVE was wholly acquired by Ideanomics in January 2021 and allows transit agencies to
electrify their fleets with in-route charging, which reduces
vehicle weight, increases passenger capacity and extends a
vehicle's range. There is no need for manually attached power
conductors or above ground charging equipment, eliminating both the
risk associated with plug-in chargers and the visual clutter of
large overhead lines. With systems ranging from 125kW to 500kW and
a 1MW charger in development, WAVE is leading the way for a more
sustainable future for public transportation.
"AVTA has been a strong supporter and customer of WAVE for
years, and with this order, they are doubling down on their
commitment to provide green, sustainable public transportation for
the people of California," said
Aaron Gillmore, CEO of WAVE. "AVTA
is setting a great example for how other cities can create real
change in their mass transit systems, and as this movement spreads
throughout the U.S., WAVE will be ready to jump in and partner with
other agencies to eliminate any concerns they may have with range
limits when converting to electric fleets."
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 AVTA
AVTA provides local, commuter and
dial-a-ride service to a population of more than 475,000 residents
in the cities of Lancaster and
Palmdale as well as the
unincorporated portions of northern Los
Angeles County. Its total service area covers 1,200 square
miles and it is bounded by the Kern
County line to the north, the San
Bernardino County line to the east, the Angeles National
Forest to the south, and Interstate 5 to the West.
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
Malory Van Guilder, Skyya PR for Ideanomics
malory@skyya.com
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SOURCE Ideanomics