ORLANDO, Fla., Nov. 4, 2021 /PRNewswire/ -- Ideanomics (NASDAQ: IDEX), a global company focused on driving the adoption of commercial electric vehicles and associated energy delivery, today announced that it will exhibit at the 2021 APTA TRANSform Conference & EXPO, highlighting subsidiary WAVE, a market-leading high-power inductive charging solution provider for medium- and heavy-duty vehicles. WAVE also announced an additional $280K follow-on order from the Antelope Valley Transit Authority (AVTA) for a depot charger as part of that organization's continued focus on building out a successful wireless infrastructure. The American Public Transportation Association conference has traditionally been an opportunity for the transit industry to determine what is now and what is next for public transportation - with WAVE as a clear example of what is next.
WAVE is a wireless, hands-free, electric vehicle charging system for transit agencies, ports and warehouse applications that quickly adds meaningful range and power for battery-electric buses without human intervention or mechanical contact. Unlike plug-in and overhead charging systems that require time-consuming, hands-on intervention, clutter the ground, and require excessive maintenance, WAVE's ruggedized pads are embedded in the roadway and hidden. Within seconds of scheduled stops and natural dwell times, power is transferred over a 5- to 8-inch air gap to a receiving pad on the vehicle's undercarriage. Charging is fast and requires no mechanical contact or human intervention.
"Historically, battery range limitations have posed a significant challenge for public transportation agencies and fleet operators alike," said Aaron Gillmore, CEO of WAVE. "We're excited to highlight for APTA attendees how WAVE is eliminating the range concerns that challenge the transit industry. WAVE is providing simple hands-free, wireless electric vehicle charging systems for transit agencies, so they do not need to worry nor carry excessive amounts of batteries as they make the transition to electric. We can help transit agencies meet their zero-emission goals by overcoming many of the charging barriers of plug-in and overhead charging technologies, while lowering the total cost of the fleet's maintenance and operations."
WAVE's roadway-embedded charging pads are currently being used by the Antelope Valley Transit Authority (AVTA) in Northern Los Angeles County, powering AVTA's fully electric 65-bus local fixed route fleet. This year, the fleet logged its five millionth mile, less than seven years after its first electric bus went into service. The partnership between WAVE and AVTA continues to grow in scope, and the new order announced today is a follow-on to a multi-million dollar order announced in September whichis another step in helping AVTA achieve full-fleet scale to meet zero-emissions goals.
APTA EXPO attendees can learn more about Ideanomics and WAVE's cutting-edge technology at booth #711.
For more information and news on Ideanomics, please visit https://ideanomics.com.
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 which 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.
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Tony Sklar, SVP of Investor Relations
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Malory Van Guilder, Skyya PR for Ideanomics