GridMarket Announces EV Transition Initiative with Coast Counties Peterbilt and Ideanomics Energy

By pairing EV chargers with renewable generation and storage, the Coast Counties Peterbilt project sites will be optimized to handle the increased demand from charging infrastructure and benefit from distributed energy technologies

NEW YORK, June 07, 2022 (GLOBE NEWSWIRE) -- GridMarket is thrilled to announce that Coast Counties Peterbilt, a portfolio of Peterbilt truck dealerships in California, will be deploying solar, battery storage, and EV charging stations at an initial four sites across the state. The projects were facilitated and optimized through the GridMarket Platform. Ideanomics Energy was selected through GridMarket’s competitive process and marketplace to implement and operate the projects.

"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."

GridMarket has been working with Coast Counties Peterbilt since 2021. The relationship initially began with the application of GridMarket’s platform to assess project feasibility and recommend energy solutions. From there, the GridMarket team worked closely with Coast Counties Peterbilt to optimize viable microgrid projects that aligned with site-specific needs and electrification goals.

Projects at the Coast Counties Peterbilt dealerships will include an optimized mix of solar PV and battery storage, paired with 5 DC-fast chargers at each site. Each system will benefit from the federal ITC, the CA SGIP, and the CA EV charging incentive programs, providing significant cost savings to the customer, a competitive IRR, and carbon reduction benefits.

“There is tremendous momentum in the current electric vehicle market,” said Peter Schneider, Director of Sales and Project Management at GridMarket. “Leading providers are transitioning fleets. However, electrification must be done in coordination with existing infrastructure to account for increased demand. Coast Counties Peterbilt has been an incredible partner to work with. The team is eager to take advantage of available opportunities, and the planned installations will maximize value, align with corporate goals, and meet electrification targets.”

GridMarket’s end to end process empowers customers to understand the complete breadth of their opportunity and then choose the best-fit vendor or vendors to service their needs. By running an RFP to solicit responses from any interested vendors, customers are able to compare all viable options, structures, and partners. For Coast Counties Peterbilt, Ideanomics ultimately offered a cost-competitive and streamlined turn-key process that aligned with the near and long-term needs and goals of each site.

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 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.

"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."

To learn more about the project and other similar projects through the GridMarket platform or to see what GridMarket can do for your business, please click here.

Press Contact
Jillian Caramanna-Seymour
GridMarket, LLC

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.

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 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: