Ideanomics (NASDAQ: IDEX), a global company focused on driving the adoption of commercial electric vehicles and associated energy consumption, announced that Soletrac Inc., an IDEX portfolio company, has donated its first compact electric tractor (“CET”) to a nonprofit organization. The truck was delivered to the Kōkua Hawaiʻi Foundation, which supports environmental education in schools and communities in Hawaii. The truck will be used on the Kōkua Learning Farm, the foundation’s seven-acre farm on the North Shore of Oʻahu, which will be a gathering place for students and community members to learn about food production and participate in supporting a productive, efficient and sustainable local farming ecosystem. The foundation held a hands-on tractor demonstration day on April 15 to introduce the tractor to a group of Hawaii-based farmers and educators. Ideanomics also announced an investment in FNL Technologies (“FNL”); the investment includes the sale of Grapevine Village to FNL. The announcement outlined details of the transaction, which include Ideanomics injecting cash and stock consideration into FNL with FNL acquiring 100% of Grapevine Logic Inc. from Ideanomics in exchange for an estimated 20% ownership in FNL. FNL is the owner and operator of hoo.be, a popular social media platform designs to assist online influencers, artists, athletes, personalities and businesses. “We are delighted to make this investment into FNL, with their fast-growing hoo.be platform a strategic growth partner for Grapevine’s influencer marketing offering,” said Ideanomics CEO Alf Poor in the press release. “Since announcing our planned divestiture of Grapevine, we have been looking for a strong partner which would allow Grapevine to flourish and Jordan and the team at FNL impressed us as a synergistic partner to help boost Grapevine’s growth and expansion plans going forward.”
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About Ideanomics
Ideanomics is a global company focused on the convergence of financial services and industries experiencing technological disruption. The company’s Mobile Energy Global (“MEG”) 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 its innovative sales to financing to charging (“S2F2C”) business model. Ideanomics Capital is focused on disruptive fintech solutions for the financial services industry. Together, MEG and Ideanomics Capital provide the company’s global customers and partners with leading technologies and services designed to improve transparency, efficiency and accountability, and provides IDEX shareholders with the opportunity to participate in high-potential, growth industries. Ideanomics is headquartered in New York, NY, with offices in Beijing, Hangzhou and Qingdao and operations in the U.S., China, Ukraine, and Malaysia. For more information, visit www.Ideanomics.com.
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