NEW YORK, April 23, 2021
/PRNewswire/ -- Ideanomics (NASDAQ: IDEX)
("Ideanomics" or the "Company"), is pleased to announce that
management and employees of the Company will be virtually ringing
the NASDAQ closing bell today to celebrate the ending of Earth week
this Friday April 23, 2021 at
4:00pm ET.
"We are excited to close out Earth Week with the Nasdaq bell
ringing ceremony. Our mission is to drive the sustainability
transformation globally and we are excited how our business is
developing into a truly global organization which can say it's
making a difference," said Alf Poor,
CEO of Ideanomics.
At Ideanomics, we believe that climate change goals are
achievable. As countries around the world transition to clean
energy-based economies, Ideanomics is well positioned to provide
solutions which meet the demand for sustainable mobility.
Here in the U.S., Ideanomics began the year by investing in the
future of smart charging technologies through its acquisition of
Utah-based WAVE™. Enabling transit
authorities and commercial fleet operators to break free from heavy
charging cables, WAVE is helping the commercial fleet sector
embrace zero emission wireless charging for their electric mobility
needs.
Following our WAVE acquisition, our MEG team in China quickly engaged with our OEM partners to
ensure compatibility with WAVE™ charging through integration with
Medici Motor Works planned range of trucks and buses. At the
end of March, Medici Motor Works showcased 4 buses during our 2020
earnings call that are being imported into the United States for customer demonstration
and homologation. Following on from the work with OEM partners, MEG
is servicing local inquiries which will bring WAVE's wireless
technology capabilities to mainland China.
Elsewhere in Asia, the Asean
region, home to some of the largest 2-wheel and 3-wheel markets in
the world, saw Malaysia-based
Treeletrik sign a purchase order with Indonesia's PSE to supply 200,000 of their
T-70 electric scooters over three years to the world's largest
two-wheeler market. The initial tranche of 10,000 T-70's will be
shipped from Treeletrik headquarters in Malaysia, and a planned assembly hub in
Indonesia will be used to fulfill
ongoing orders.
As the global demand for battery and charging technologies
continues to grow, Ideanomics announced that it had acquired a 20%
stake in Italian public company Energica Motor Company, a market
leader in the high-performance motorbike segment. Energica
has developed proprietary battery and fast charging technology for
the 2- and 3-wheeled market and is the sole manufacturer of
motorbikes for the 2019-2022 FIM Enel
MotoE World Cup. Energica Motor Company is headquartered
Modena, in the heart of
Italy's world-renowned Motor
Valley, and is traded on the Italian Bourse in Milan under the symbol EMC.
Leading the automotive markets in efficiency, the
high-performance and sportscar market continues to produce some of
the most important technological innovations for mainstream
automotive manufacturing today. Ideanomics investment in the
high-performance EV Auto company, Silk EV, received favorable media
coverage this week when the Italian EV Auto Maker showcased their
S9 hypercar, in partnership with FAW, at the 2021 Shanghai Auto
Show.
In the Pacific Islands, Solectrac™ partnered with Kim and Jack Johnson's Environmental Education
Nonprofit, Kōkua Hawaiʻi Foundation, with Solectrac supplying the
electric tractor to serve as an example of sustainable and
environmentally friendly farming. Hawaii is a prime example of a pristine
environmental area with the capability to efficiently grow crops
with little to no carbon footprint, and the foundation exists to
help with advocacy and education for local and regional
farmers.
As our operations expanded to circle the globe, we arrived back
in California where our fintech
business segment, Ideanomics Capital, completed the acquisition of
Timios Holdings Corp, a leading mortgage title and closing provider
dedicated to providing customers with transparency and freedom of
choice. Timios has continued its growth trajectory since joining
the Ideanomics family, bringing strong revenues and resulting
cashflows to the group.
About Ideanomics
Ideanomics is a catalyst for disruption to those industries
where improvements in sustainability, transparency, and freedom of
choice would have profound benefits on a global scale. 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 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 & 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.
The company is headquartered in New
York, NY, with operations in the U.S., China, Ukraine, and Malaysia.
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 Contact
Ideanomics, Inc.
Tony Sklar, SVP of Investor
Relations
1441 Broadway, Suite 5116 New York,
NY 10018
ir@ideanomics.com
Valerie Christopherson / Lora
Wilson
Global Results Communications (GRC)
+1 949 306 6476
valeriec@globalresultspr.com
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