Ideanomics (IDEX) Announces WAVE Secures Follow-On Order from Twin Transit for Wireless Charging Systems

WAVE, Inc., a wholly-owned subsidiary of Ideanomics (NASDAQ: IDEX) and developer of high-power, wireless inductive charging solutions for medium- and heavy-duty commercial vehicles, today announced that the Twin Transit has placed a second order for two additional WAVE 250kW wireless charging systems. The follow-on order addresses the critical need to automatically extend the range of battery-electric buses to meet the range of legacy diesel vehicles. The two WAVE 250kW systems will be installed at the Mellen Street e-Transit Station and will power new Gillig battery-electric buses scheduled to arrive in 2023.

In June of 2021, Twin Transit completed the installation of a WAVE 250kW high-power wireless charging system at their Mellen Street e-Transit Station to power its first two battery-electric buses.

"In just a few short months of running the WAVE system, it became clear to us WAVE's wireless charging solution performed well beyond plug-in and overhead charging systems," said Twin Transit's Executive Director, Joe Clark. "In addition, the system proved to be easy for our drivers to operate, and maintenance was virtually non-existent. We're confident our extended partnership with WAVE will help us reach our zero-emission goals faster and easier."

"Twin Transit's Mellen Street e-Transit Station is a model of the future for electric bus transit hubs," said WAVE Chief Technology Officer, Mike Masquelier. "Clean, elegant, free of overhead and ground-based charging infrastructure, the station design is exactly what we envisioned when we set out to solve the problem of extending the range of electric buses to match that of diesel.

Repeat orders from experienced customers substantiate the inevitable future of wireless charging. With many other charging choices on the market, Twin Transit's new order exemplifies the growing interest from transit agencies to power their clean fleet transition with WAVE.

"We could not be happier to expand our charging technology at Mellon Street," said WAVE CEO Aaron Gillmore. "Twin Transit's continued confidence in WAVE speaks volumes about the readiness of wireless charging to solve even the most difficult transit electrification challenges."

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