Ideanomics Subsidiary WAVE Secures Supplier Contract From Sourcewell

Ideanomics Inc IDEX subsidiary WAVE (Wireless Advanced Vehicle Electrification) has secured a cooperative purchasing contract in the wireless inductive charging solutions category from Sourcewell. WAVE will hold a four-year contract.
Sourcewell is a self-sustaining government organization offering cooperative purchasing with more than 400 competitively solicited contracts to government, education, and nonprofit entities throughout North America.
The contract allows more than 50,000 organizations, including government agencies, educational systems, and nonprofits, to purchase WAVE's charging solutions at a discount.
Transit agencies and ports will be able to purchase WAVE's EV wireless charging systems without facing RFP, bidding, and vendor selection processes.
Price Action: IDEX shares are trading higher by 5.98% at $2.47 on the last check Friday.