Ideanomics subsidiary Energica announces new partnerships to develop all-electric solutions for aviation

Rhea-AI Summary

On March 15, 2023, Ideanomics (NASDAQ: IDEX) announced that its subsidiary, Energica Motor Company, has formed partnerships with Phenix Air Corp and Pure Flight to develop all-electric solutions for ultra-light and light aircraft. Energica is integrating its electric powertrain into various aircraft, including a seaplane and a Sonex airframe, to evaluate performance metrics. With these collaborations, Energica aims to accelerate the aviation industry's transition to zero-emission technology. Energica Inside, Energica's new business unit, is poised to expand its EV technology applications across multiple sectors, highlighting Ideanomics' commitment to electric vehicle innovation.

Positive

• Partnerships with Phenix Air Corp and Pure Flight enhance Ideanomics' position in the electric aviation market.
• Integration of Energica's powertrain into various aircraft could lead to significant advancements in zero-emission aviation technologies.
• Energica Inside is expanding its EV solutions across diverse sectors, including aviation, urban mobility, and agriculture.

Negative

• None.

NEW YORK, March 15, 2023 /PRNewswire/ -- Ideanomics (NASDAQ: IDEX), a global company focused on accelerating the commercial adoption of zero-emission vehicles, today announced that its subsidiary Energica Motor Company, maker of the world's best high-performance electric motorcycle, has entered into two separate partnerships with the French tech consulting firm Phenix Air Corp and Pure Flight to develop all-electric solutions for ultra-light and light aircraft.

Ideanomics subsidiary Energica announces new partnerships to develop all-electric solutions for aviation

The collaboration is being executed by Energica's Energica Inside business unit. 

"With this collaboration, Energica's technology is literally taking to the skies. Aviation is one of the most challenging industries to decarbonize and I am very proud to be supporting the industry-leading Phenix Air Corp on their journey to develop and bring to market zero-emission ultralight aircraft," says Livia Cevolini, CEO, Energica Motor Company.

As part of the collaboration with Phenix Air Corp, Energica's electric powertrain has been integrated into an airplane propeller to assess performance and conduct testing. The powertrain will then be integrated into an ultralight seaplane to test in-flight performance.

In California, a parallel project is underway with Phenix Air Corp to integrate Energica's powertrain into a purpose-built Sonex airframe for small aircraft applications. The project will test the performance and range of the EV conversion for multiple use cases, including training courses, cruise intrastate travel and aerobatics.

Energica Inside engineers are also collaborating with airplane manufacturer Pure Flight to assess the integration of Energica's powertrain for the Pure Flight ΦNIX airplane. Through the combination of Energica's powertrain and Pure Flight's high-efficiency airframe, the two companies are aiming to achieve the highest possible range for all-electric intra-European air travel.

"Aviation has been at the forefront of innovation in the transport sector and EV technologies are entering into the equation of product development. We have started different programs with partners around the globe to learn together and accelerate the time to market of our solutions," says Carlo Iacovini, General Manager, Energica Inside.

Energica Inside is ready to help original equipment manufacturers (OEMs) in their EV transition and bring new products to market quickly and affordably. The business unit has several new projects underway in agriculture, marine and aviation and urban mobility. Its new facility will allow Energica Inside to take on even more projects, both for Ideanomics's portfolio of companies and other OEMs, all built around Energica's industry-leading design, engineering and technology.

With ongoing support from Ideanomics, Energica is pioneering the global two-wheeler market with its high-performance electric motorcycles. Ideanomics is solving the complexity of fleet electrification, offering fleet operators everything they need to electrify faster, easier and more affordably, all in one place. 

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. 

About Energica Inside
Energica Inside is the new business unit of Energica Motor Company dedicated to developing innovative solutions for e-mobility.

Safe Harbor Statement 
This press release contains "forward-looking statements" within the meaning of the federal securities laws. All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," or similar expressions, involve known and unknown risks and uncertainties, and include the statement regarding the completion of the business combination within a certain period of time, if ever. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of risks and uncertainties, such as risks related to: our ability to obtain necessary regulatory approvals and other risks and uncertainties disclosed under the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our most recent Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, and similar disclosures in subsequent reports filed with the SEC, which are available on the SEC website at www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements. 

Media Contact

Theodore Rolfvondenbaumen 
Communications Director 
Email: trolfvondenbaumen@ideanomics.com 

Davide Palumbo
Communication Manager
Email: dpalumbo@energicamotor.com 

View original content to download multimedia:https://www.prnewswire.com/news-releases/ideanomics-subsidiary-energica-announces-new-partnerships-to-develop-all-electric-solutions-for-aviation-301771976.html

SOURCE Ideanomics

FAQ

What partnerships did Ideanomics announce on March 15, 2023?

Ideanomics announced partnerships with Phenix Air Corp and Pure Flight to develop all-electric solutions for ultra-light and light aircraft.

How is Energica contributing to zero-emission aviation?

Energica is integrating its electric powertrain into various aircraft to assess performance and support the development of zero-emission technology in aviation.

What is the role of Energica Inside in the new projects?

Energica Inside focuses on developing innovative e-mobility solutions, collaborating with partners to accelerate electric vehicle transitions in various industries.

How might these partnerships impact Ideanomics' future?

These partnerships could position Ideanomics as a key player in the electric aviation segment, potentially enhancing its market value and shareholder returns.