Ideanomics Launches WareSmart to Help Warehouse Operators Plan and Implement Clean Fleet Technologies for ISR Compliance

Rhea-AI Summary

Ideanomics has launched WareSmart, a free web-based tool targeted at warehouse operators in the South Coast Air Quality Management District (SCAQMD). This tool assists users in navigating the Indirect Source Rule 2305 and complying with the Warehouse Actions and Investments to Reduce Emissions (WAIRE) program. With features for fee estimation and ROI scenario planning, WareSmart aims to simplify compliance and encourage the adoption of electrification solutions. This strategic initiative supports over 3,000 warehouses in reducing emissions and fines associated with regulatory compliance.

Positive

• Launch of WareSmart tool to aid warehouse operators in compliance with ISR Rule 2305 and WAIRE program.
• Facilitates fee estimation and ROI scenario planning, helping to optimize financial outcomes for compliance.
• Supports electrification solutions, leading to potential long-term savings and reduced emissions.

Negative

• None.

• WareSmart is a free tool to help warehouse operators in the South Coast Air Quality Management District (SCAQMD) navigate ISR Rule 2305 and become compliant with the Warehouse Actions and Investments to Reduce Emissions (WAIRE) program.
• SCAQMD's new WAIRE program applies compliance and reporting requirements targeting emissions reduction of over 3,000 warehouses.
• WareSmart assists with WAIRE fee estimation supporting warehouse operators with developing scenarios to achieve compliance cost-effectively with trusted products and fleet electrification solutions that can significantly reduce or eliminate fines for operators.

NEW YORK, Aug. 3, 2022 /PRNewswire/ -- Ideanomics (NASDAQ: IDEX), a global company focused on accelerating the adoption of commercial electric vehicles (EV), today announced its new tool called WareSmart, available now at http://www.waresmart.us The web-based tool allows warehouse operators under South Coast Air Quality Management District (SCAQMD) jurisdiction to determine potential fees associated with the new Warehouse Indirect Source Rule (ISR) 2305 and the Warehouse Actions and Investments to Reduce Emissions (WAIRE) program.

Ideanomics' new WareSmart tool provides a simple platform for warehouse operators to calculate estimated points and associated fees based on self-reported operations data, making it less complicated and easily manageable to comply with ISR 2305. With a Return-on-Investment (ROI) scenario planner, warehouse operators can better analyze the short- and long-term financial implications of the WAIRE program and the benefits of electrification.

"We knew we were in a position to help warehouse operators navigate the WAIRE program since its announcement. There was a huge need for program education and guidance, scenario planning and insight into product suitability and availability to meet the new regulatory requirements. With the WareSmart tool and our team of electrification experts, we aim to help more warehouses become compliant with the new rule while potentially saving money and committing to a cleaner future," states Keith Byers, Ideanomics Senior Vice President, Commercial Development. 

The WareSmart tool supports operators with multiple warehouses and creates different operation scenarios for operators' planning purposes. The tool also allows multi-year planning scenarios to help operators estimate ISR 2305 compliance fees year-over-year and the effectiveness of fee reduction strategies as they move towards electrification.

In the WareSmart dashboard, warehouse operators have an easy-to-use platform for research and scenario planning for the integration of high-powered, zero- or near-zero-emission trucks, chargers, and renewable power generation which is customizable to their operational data and ISR 2305 compliance preferences. A team of clean fleet solutions experts is available to assist warehouse operators with understanding and implementing the clean fleet technologies identified within WareSmart.

For more information and news on Ideanomics and its operating companies, please visit https://ideanomics.com.

About Ideanomics
Ideanomics (NASDAQ: IDEX) is a global group with a simple mission: to accelerate the commercial adoption of electric vehicles. By bringing together vehicles and charging technology with design, implementation, and financial services, we provide solutions needed for the commercial world to commit to an EV future. To keep up with Ideanomics, please follow the company on social @ideanomicshq or visit https://ideanomics.com.

Contacts:

Ideanomics, Inc.
Tony Sklar, SVP of Investor Relations
1441 Broadway, Suite 5116, New York, NY 10018
ir@ideanomics.com

Malory Van Guilder, Skyya PR for Ideanomics
malory@skyya.com

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SOURCE Ideanomics

FAQ

What is the purpose of the WareSmart tool by Ideanomics?

The WareSmart tool helps warehouse operators navigate ISR Rule 2305 and comply with the WAIRE program by estimating fees and planning ROI.

How does the WareSmart tool assist with compliance fees?

It provides a platform for calculating potential fees based on self-reported operations data.

When was the WareSmart tool launched?

The WareSmart tool was launched on August 3, 2022.

What regulatory requirements does the WareSmart tool address?

It addresses compliance and reporting requirements related to the ISR Rule 2305 and WAIRE program.

How many warehouses does the WAIRE program target?

The WAIRE program targets over 3,000 warehouses in the South Coast area.