Ideanomics Pockets $5.5M Purchase Order From Global Environmental Products

  • Ideanomics Inc IDEX subsidiary US Hybrid bagged a $5.5 million purchase order from Global Environmental Products (GEP) for additional battery powertrain kits for electric street sweepers for California and other state fleets.
  • The delivery of the order is expected to occur in 2022. Financial terms were not disclosed.
  • The battery-electric powertrain kits in this new purchase order will include the battery, powertrain, charger, economizer, and telematics.
  • In 2009, GEP partnered with US Hybrid to launch the first hybrid electric street sweepers in New York City and deployed an additional operation in Japan.
  • In 2021, GEP teamed with US Hybrid to deploy, fully electric, supercharged street sweeper operating in Brooklyn, New York.
  • Price Action: IDEX shares are trading lower by 1.09% at $1.36 on the last check Wednesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsPenny StocksShort SellersContractsSmall CapBriefsTheStreetSweeper
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!