WAVE Charging Appoints Macy Neshati as General Manager to Spearhead Expansion and Scale

Salt Lake, Utah, March 11, 2024 (GLOBE NEWSWIRE) -- WAVE Charging, a wholly-owned subsidiary of Ideanomics (NASDAQ: IDEX) and developer of high-power, wireless inductive charging solutions for medium- and heavy-duty commercial vehicles, proudly announces the appointment of Macy Neshati as General Manager. 
In his new role, Neshati will take charge of overseeing operations and driving the expansion of WAVE Charging's current customer base, including the two confidential commercial fleet customers previously disclosed. 
Mr. Neshati brings a wealth of experience to his new position, including experience as part of the Ideanomics group of companies. Prior to joining WAVE Charging, he served as the CEO of Ideanomics subsidiary U.S. Hybrid. During his tenure, he played a pivotal role in enhancing and expanding U.S. Hybrid's strategic partnerships with industry leaders such as Global Environmental Products, Toyota Tsusho, and A-1 Alternative Fuel Systems. Under his leadership, U.S. Hybrid transformed into an industry leader renowned for its zero-emission solutions for specialty vehicles. 
Neshati's professional background also includes leadership roles at the Antelope Valley Transit Authority (AVTA) and BYD, where he contributed significantly to the advancement of electric vehicle technology. AVTA, the First All-Electric Zero-Emission Transit Agency in North America, is a key, longtime customer of WAVE Charging. Moreover, many of WAVE's existing customers utilize their charging infrastructure with BYD vehicles. Neshati's extensive experience positions him as a staunch advocate for WAVE's products, underpinned by a profound understanding of the benefits of WAVE's high-power wireless charging from both customer and technology partner perspectives. 
In response to his appointment, Macy Neshati stated: "I am honored to join WAVE Charging at this pivotal moment. The electrification of commercial transportation is accelerating, and WAVE's innovative wireless charging solutions are poised to play a crucial role in shaping the industry's future. I look forward to leading WAVE in expanding its footprint and delivering sustainable charging solutions to meet the evolving needs of our customers." 
Ideanomics CEO Alf Poor expressed his confidence in Mr. Neshati's ability to lead WAVE Charging into its next phase of growth, stating: "Macy's proven track record of driving innovation and growth within the clean energy and transportation sectors makes him the ideal candidate to lead WAVE Charging. His strategic vision and deep industry knowledge will be invaluable assets as we continue to revolutionize the commercial vehicle charging landscape." 

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 solutions 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 WAVE Charging 

Founded in 2011, with systems available from 125kW through to ultra-high power, WAVE delivers made-in-America wireless EV charging systems for the commercial fleet sector. With a global-leading number of high-power, rigorously proven inductive charging systems deployed, WAVE provides commercial fleet operators with a faster, easier, and future-proof way to extend the range of medium- and heavy-duty electric vehicles which avoid the hassle and inefficiency of operations experienced with cable and pantograph charging systems. Learn more at www.wavecharging.com. 


Safe Harbor Statement 

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the expected timing for the filing of the Form 10-K, the Company's ability to regain compliance with the Nasdaq requirements for continued listing and related matters. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," or similar expressions that involve known and unknown risks and uncertainties. Any forward-looking statements contained herein are based on current expectations, but are subject to risks and uncertainties that could cause actual results to differ materially from those indicated, including, but not limited to, risks and uncertainties relating to the failure of the Company to file the Form 10-K on its expected timeline and other risk factors discussed from time to time in the Company's filings with the SEC. These and other factors are identified and described in more detail in the Company's filings with the SEC, including, without limitation, the Company's most recent Form 10-K and Form 10-Q. The Company expressly disclaims any intent or obligation to update these forward-looking statements other than as required by law. 



Ideanomics, Inc. 

Tony Sklar, SVP of Investor Relations 

1441 Broadway, Suite 5116, New York, NY 10018