Ideanomics Receives Interest from Town of West Hartford for Fintech Village
- The Town of West Hartford received council approvals to explore the opportunity to purchase the former UConn site from Ideanomics
- Agreement includes extension of lease for the Athletic and Baseball fields, in return for the town assuming landscaping maintenance of the 58-acre site
- Details include a right of first refusal to purchase the property, should Ideanomics receive competing bids for the site

NEW YORK, June 24, 2020 /PRNewswire/ -- Ideanomics (NASDAQ: IDEX) ("Ideanomics" or the "Company") is pleased to announce it has entered into a series of agreements with the Town of West Hartford over its 58-acre property which it had acquired in October 2018 to develop as a fintech village technology park.

The two parties entered into a series of agreements which include extending the ball field leases in exchange for the town assuming the landscaping of the 58-acre site. Additionally, the town of West Hartford has secured a right of first refusal to purchase the property and will conduct due diligence to explore the viability of purchasing the site to bring it under the town's control.

"The Town of West Hartford has been supportive of the Fintech Village plans throughout the acquisition and remediation phases of the project, so we are pleased to be able to enter into these agreements which enables the town find a path to securing the athletic and baseball fields on the site which are an important part of the community," said Alf Poor, CEO of Ideanomics. "I am pleased for the Mayor, the Township Manager, and their staff who work tirelessly for the best interests of their community. As we adjust our business to focus more on the opportunities in the electric vehicle sector, we wanted to find a partner who would continue to develop the property in a manner that enriches the town of West Hartford. We look forward to working with them on the possibility of their acquiring the property, as they would be excellent custodians of the site."

About Ideanomics
Ideanomics is a global company focused on facilitating the adoption of commercial electric vehicles and developing next generation financial services and Fintech products. Its electric vehicle division, Mobile Energy Global (MEG) provides group purchasing discounts on commercial electric vehicles, EV batteries and electricity as well as financing and charging solutions. Ideanomics Capital includes DBOT ATS and Intelligenta which provide innovative financial services solutions powered by AI and blockchain. MEG and Ideanomics Capital provide our global customers and partners with better efficiencies and technologies and greater access to global markets.

The company is headquartered in New York, NY, and has offices in Beijing, Guangzhou and Qingdao, China.

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 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
Tony Sklar, VP of Communications
55 Broadway, 19th Floor New York, New York 10006



SOURCE Ideanomics

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