Ideanomics (NASDAQ: IDEX), a global company focused on accelerating the commercial adoption of electric vehicles, is partnering with Fenton Mobility Products to build five hydrogen-powered, zero-emission transit vans for the Rochester-Genesee Regional Transportation Authority (“RGRTA”). Fenton Mobility selected IDEX as a partner in the project. According to the announcement, the order is valued at more than $2.2 million; funds for the buses are covered through a $23 million grant from the U.S. Department of Transportation awarded to RGRTA to deploy hydrogen-fuel-cell buses. The agreement calls for Fenton Mobility to deliver a pilot hydrogen-fuel-cell battery, electric-powered, high-headroom van to RGRTA for testing. When the testing is complete and the pilot vehicle meets all requirements, RGRTA will produce five additional vehicles, scheduled for delivery early next year. Ideanomics subsidiary US Hybrid will assemble the hydrogen fuel-cell propulsion system for the vehicles and will also manufacture various components at its California-based engineering facility. “Fenton Mobility and Ideanomics are the dream team for this project,” said Ideanomics chief commercial officer Macy Neshati in the press release. “Fenton is known for delivering the best solutions for public transportation, and Ideanomics has some of the best zero-emission products and technology. I would like to thank RGRTA for its bold climate leadership, and for putting their trust in Ideanomics and Fenton, two local companies, to provide zero-emission buses made right here in the U.S.”
To view the full press release, visit https://ibn.fm/62sh3
About Ideanomics Inc.
Ideanomics is a global group with a simple mission: to accelerate the commercial adoption of electric vehicles. By bringing together vehicles and charging technology with design, implementation and financial services, the company provides solutions needed for the commercial world to commit to an EV future. 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
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