Ideanomics’ (NASDAQ: IDEX) subsidiary, WAVE, a developer of high-power, wireless inductive charging solutions for medium- and heavy-duty vehicles, today announced that anticipated reductions in costs from recent manufacturing and engineering investments would be passed on to Sourcewell customers. This will make next generation charging technology more accessible to accelerate the adoption of wireless charging among EV fleets. In addition, WAVE’s new charging-as-a-service (“CaaS”) offering is a comprehensive package that includes hardware, maintenance and operational services. “CaaS enables Sourcewell members to go completely battery-electric with minimal impact on their business and operational expenditures,” said WAVE CEO Aaron Gillmore. “As part of the broader Ideanomics commercial solution, we’re able to help manage the entire fleet electrification process.”

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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 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. For more information, visit www.Ideanomics.com.

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