Ideanomics (NASDAQ: IDEX), a company focused on the convergence of financial services and industries experiencing technological disruption, today announced that it has pledged $25 million to support minority and underserved communities, driven by the company’s continued environmental, social and governance (“ESG”) commitment. “Enabling financial empowerment has been the common thread for all businesses under Ideanomics Capital,” said Alf Poor, CEO of Ideanomics. “We are excited to join a network of progressive supporters of the MDI Keepers Fund. This is a proactive investment we are putting into communities that require the most disruption and transformation. We believe this fund will allow us to continue supporting diversity in our subsidiary businesses while maximizing the impact to these communities.”
In addition, Ideanomics has completed its acquisition of privately held US Hybrid, a manufacturer and distributor of electric powertrain components and fuel cell engines for medium and heavy-duty commercial fleet applications. Material details of the terms are disclosed in the company’s related 8-K filing. The completed acquisition marks another critical milestone in Ideanomics’ mission to reduce commercial fleet greenhouse gas emissions through forward-thinking partnerships and advanced electronic vehicle (“EV”) technologies. Roth Capital Partners LLC acted as financial advisor for the offering.
About Ideanomics Inc.
Ideanomics is a global company focused on the convergence of financial services and industries experiencing technological disruption. The Ideanomics Mobility division is a service provider that facilitates the adoption of electric vehicles by commercial fleet operators through offering vehicle procurement, finance and leasing, and energy management solutions under an innovative sales-to-financing-to-charging (“S2F2C”) business model. Ideanomics Capital is focused on disruptive fintech solutions for the financial services industry. Together, Ideanomics Mobility and Ideanomics Capital provide global customers and partners with leading technologies and services designed to improve transparency, efficiency and accountability, and shareholders with the opportunity to participate in high-potential growth industries. For more information, 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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