Ideanomics (NASDAQ: IDEX) subsidiary Wireless Advanced Vehicle Electrification (“WAVE”), a leading developer of high-power inductive charging solutions for medium- and heavy-duty vehicles, will be participating in a U.S. Department of Energy (“DOE”) electrified powertrain project designed to develop a one-megawatt wireless charging system for Class 8 electric trucks. A manufacturer of heavy- and medium-duty trucks, Kenworth is the primary recipient of the cooperative agreement, and WAVE will be collaborating. Utah State University is also working on the project, which calls for the installation of WAVE systems at designated facilities along a 400-mile regional haul route between Portland, OR, and Seattle, WA. The charging stations will provide a fast charge of one megawatt of power from roadway-embedded charging pads designed to interact with specially equipped Kenworth T680 next-generation battery EVs. The objective is to enable the trucks to complete the 400-mile route, thereby exceeding their standard 150-mile range. WAVE systems have proven commercial success in delivering high-power wireless charging solutions for trucks, with California’s Antelope Valley Transit Authority recently placing a $2.2 million order. The organization operates the largest battery-electric bus fleet in the United States, which is powered by 12 WAVE wireless chargers that cover 100 square-route miles. “At the megawatt power levels required by Class 8 EVs, there are significant advantages to eliminating mechanical movement and human contact associated with current charging technologies,” said WAVE chief technology officer Michael Masquelier in the press release. “The work we are doing with Kenworth and Utah State University will help enable fleet operators to extend the range of heavy-duty EVs, making the industry’s zero-emission goals more attainable.”

To view the full press release, visit https://ibn.fm/HV53z

About Ideanomics Inc.

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 that facilitates the adoption of electric vehicles by commercial fleet operators through offering vehicle procurement, finance and leasing, and energy-management solutions under the company’s 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 the company’s global customers and partners with leading technologies and services designed to improve transparency, efficiency and accountability, and the company’s shareholders with the opportunity to participate in high-potential, growth industries. For more information about the company, please visit www.Ideanomics.com.

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