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/KXjPk
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.
NOTE TO INVESTORS: The latest news and updates relating to IDEX are available in the company’s newsroom at https://ibn.fm/IDEX
About MissionIRNewsBreaks
MissionIRNewsBreaks provide a rapid summary of corporate news that catch the attention of MissionIR. MissionIRNewsBreaks are created by our Team of professional journalists that keep a constant eye on the markets, these posts are designed to inform you on the latest happenings of our clients and other publicly traded companies on our radar. From earnings, acquisitions and agreements to conference attendance and clinical study results, our news breaks keep you up-to-date with the day’s top movers. MissionIR is primarily focused on strategic communications. We have executed countless communications programs to address the needs of companies ranging from start-ups to established industry leaders, gaining valuable experience and the expertise necessary to determine the most effective strategy for any given situation.
MissionIR (MIR)
Atlanta, Georgia
www.MissionIR.com
404.941.8975 Office
Editor@MissionIR.com
Please see full terms of use and disclaimers on the Mission Investor Relations website applicable to all content provided by MIR, wherever published or re-published: http://www.missionir.com/disclaimer.html
