Ideanomics' WAVE Secures Follow-On Purchase Order From AVTA

Ideanomics Inc IDEX subsidiary WAVE finalized a multi-million dollar follow-on purchase order from the Antelope Valley Transit Authority (AVTA) for 28 additional wireless charging systems.
AVTA currently serves more than 450,000 residents in the cities of Lancaster and Palmdale, and northern Los Angeles County, California.
WAVE, which Ideanomics wholly acquired in January 2021, allows transit agencies to electrify their fleets with in-route charging, reducing vehicle weight, increasing passenger capacity, and extending a vehicle's range.
"AVTA has been a strong supporter and customer of WAVE for years, and with this order, they are doubling down on their commitment to provide green, sustainable public transportation for the people of California," said Aaron Gillmore, CEO of WAVE.
Price Action: IDEX shares are trading higher by 4.24% at $2.189 on the last check Wednesday.