Ideanomics Energy Pens Agreement with Coast Counties Peterbilt to Deploy and Operate Green Charging Solutions

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  • Ideanomics Energy will support Coast Counties Peterbilt's transition to electric fleet vehicles by providing renewable energy generation, energy storage systems, and DC fast charging infrastructure to dealerships in California.
  • The agreement includes a Power Purchase Agreement (PPA) and a Charging-as-a-Service component.
  • The project was facilitated by GridMarket and Ideanomics was selected as an implementation partner through the GridMarket platform.
  • Ideanomics Energy is a new Ideanomics division that provides fleet customers with energy management software, charging & energy solutions and a full suite of services from initial design to operations & maintenance.

SAN JOSE, Calif., May 23, 2022 -- Ideanomics (NASDAQ: IDEX), a global company focused on accelerating the adoption of commercial electric vehicles (EV),  announced that it has signed an agreement with Coast Counties Peterbilt to deploy and operate energy and charging solutions at Coast Counties' truck dealerships in California.

The agreement includes a Power Purchase Agreement (PPA) and a Charging-as-a-Service component. Ideanomics Energy will deploy DC fast charger, renewable energy generation, and storage at four Coast Counties Peterbilt dealerships in California. In addition, Ideanomics Energy's management software will ensure high utilization and cost optimization. This turnkey solution will be offered to Coast Counties Peterbilt at a pre-agreed monthly amount.

The deal is the first announced by Ideanomics Energy, a newly created energy division providing turnkey charging & energy solutions. It will further Ideanomics' holistic mission of being an A-to-Z full-service commercial electrification provider for fleets throughout their electrification journey.

As the one-stop charging and energy partner, Ideanomics Energy offers everything from agnostic energy management software with modular charging and energy solutions - including WAVE's high-power wireless charger - as well as a broad range of services from initial planning, engineering, and installation to operations and maintenance of the deployed energy assets. The new business division aligns with the existing Ideanomics Mobility and Ideanomics Capital divisions. Ideanomics Energy simplifies EV charging and energy strategies for fleets, providing software and hardware which grow with the customers' operations and electrification targets.

Ideanomics Energy was selected as the best partner for Coast Counties Peterbilt through GridMarket. GridMarket's AI-driven energy project platform leverages sophisticated energy modeling, digital simulation planning, and proprietary analytics to produce actionable energy insights. The platform identifies opportunities, optimizes project design, and runs a procurement process, soliciting competitive bids from a global network of top-tier technical and financial solution providers. GridMarket works with customers to select implementation partners who align unique fleet and operational needs, like Ideanomics Energy and Coast Counties Peterbilt. 

"We were looking for the optimal mix of solutions with reliable ROIs, and we selected Ideanomics Energy as the clear best-fit implementation partner through the GridMarket marketplace," said Craig Archer, President of Coast Counties Peterbilt. "GridMarket enabled us to effectively consider all best-fit technologies and partners, and de-risked our expansion into offering electric vehicles. Ideanomics Energy demonstrated a successful track record of charging infrastructure installations, and we are thrilled to begin work with them."

"It is important to install reliable infrastructure that fits to the specific strategy and needs of individual fleet customers," said Jan Freimann, Vice President of Energy Services at Ideanomics. "We don't believe in one-size-fits-all. Instead, we deploy custom-tailored solutions to minimize costs, increase reliability, and limit uncertainty for customers like Coast Counties Peterbilt. Thanks to GridMarket, our team has the opportunity now to support Coast Counties Peterbilt's transition to electrification and a greener future."

For more information and news on Ideanomics and its operating companies, please visit https://ideanomics.com.

About Ideanomics

Ideanomics (NASDAQ: IDEX) 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, we provide the completeness of solutions needed for the commercial world to commit to an EV future. To keep up with Ideanomics, please follow the company on social @ideanomicshq or visit: https://ideanomics.com.

About Peterbilt

Coast Counties Peterbilt is a family-owned and operated full-service truck and trailer dealership founded in 1949 and headquartered in San Jose, California. We provide our customers throughout Northern & Central California with a full line of services including new and used truck & trailer sales, full maintenance leasing, truck rentals, parts sales, service for all makes of trucks & trailers, complete finance portfolio for new and used trucks & trailers, financing for major equipment purchases, such as engines, transmissions and diesel particulate filters. We also have a truck and trailer body shop with a 70' paint booth at our San Leandro location. Come visit one of our 6 Peterbilt, PacLease and Landoll full-service locations for all of your truck-related needs and thank you for your valued business.

About GridMarket

GridMarket is an energy project optimization platform and global marketplace leveraging big data and artificial intelligence to accelerate the global energy transition. Working with property portfolio, individual energy consumers, governments, and utilities around the world, GridMarket identifies and tailors best-fit energy projects, engages top-tier global solution providers, and mobilizes financial markets to help partners meet energy and net-zero carbon targets. GridMarket has a substantial global pipeline and portfolio of successful projects, spanning diverse customer types and geographic regions. GridMarket uses its platform to open up new markets and facilitate distributed energy deployment through automation, predictive analytics, remote digital capabilities, and dynamic stakeholder engagement tools.

Contacts:

Ideanomics, Inc.
Tony Sklar, SVP of Investor Relations
1441 Broadway, Suite 5116, New York, NY 10018  
ir@ideanomics.com

Malory Van Guilder, Skyya PR for Ideanomics
malory@skyya.com

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