Solectrac to be Honored with the WINnovation Award at WIN Expo 2021

Rhea-AI Summary

On November 24, 2021, Ideanomics (NASDAQ: IDEX) announced its subsidiary Solectrac will receive the WINnovation Award at the WIN Expo in Santa Rosa, California, on December 2. Solectrac is recognized for its innovative e70N electric tractor, designed for vineyard operations, which enhances sustainability by reducing emissions and operational noise. The tractor's electric motor features fewer moving parts, leading to lower maintenance costs. Solectrac aims to support wineries transitioning to electric equipment, showcasing its technology at the expo.

Positive

• Solectrac's e70N electric tractor has been awarded the WINnovation Award, highlighting its innovative design for vineyard use.
• The e70N tractor eliminates pollution and noise, offering benefits for worker health.
• Solectrac is positioned to assist wineries in transitioning to sustainable electric machinery.

Negative

• None.

SANTA ROSA, Calif., Nov. 24, 2021 /PRNewswire/ -- Ideanomics (NASDAQ: IDEX), a global company focused on driving the adoption of commercial electric vehicles and associated energy consumption, today announced that its subsidiary Solectrac will be honored with the WINnovation Award at this year's WIN Expo. The expo will take place at the Sonoma County Fairgrounds in Santa Rosa, California on Thursday, Dec. 2, bringing together wine industry leaders from around the country to share ideas, information, and predictions to better prepare for the coming year.

The WINnovation award is the top honor by Wine Industry Network (WIN) and is only given to five winners each year. Solectrac is being honored for the groundbreaking technology in its e70N electric tractor, which is specially designed for vineyard operations that require navigating through narrow rows of vines and is a real-life example of AgTech innovation at work in the world today.

"We were impressed by Solectrac's persistent commitment to sustainability and their expert design of an electric tractor that fits winegrowers' needs - both between the vines and in their efforts to become more sustainable," says Kim Badenfort, Editor Wine Industry Advisor.

The 70-HP equivalent e70N electric tractor can operationally replace a similar-sized diesel tractor, eliminating the pollution and noise while offering instant torque. The electric motor has only one moving part vs. the roughly 300 in a diesel engine which reduces maintenance needs. Electric tractors can lead to substantial improvements to workers' health by eliminating harmful emissions that can cause respiratory illness and reducing deafening noise that can contribute to hearing loss. Solectrac electric tractors are assembled in Santa Rosa and the company is B Corp certified.

"We are honored that Wine Industry Network recognizes the innovation being made by the team at Solectrac as we work to help more wineries make the transition to electric machinery and reduce their carbon footprint," said Mani Iyer, CEO of Solectrac. "Being that we are local to Santa Rosa, we are excited that vintners from around the country will be gathering in our backyard at WIN Expo, where we can demonstrate that Solectrac tractors are truly the future of regenerative viticulture."

At WIN Expo, attendees will get an opportunity to see the technology firsthand and learn more about how they can implement zero-emission machinery on their vineyards.

For more information on Solectrac and to reserve an e70N electric tractor today, please visit https://solectrac.com.

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

About Ideanomics
Ideanomics is a global company focused on the convergence of financial services and industries experiencing technological disruption. The Ideanomics Mobility division is a service provider which facilitates the adoption of electric vehicles by commercial fleet operators through offering vehicle procurement, finance and leasing, and energy management solutions under an innovative sales to financing to charging (S2F2C) business model. Ideanomics Capital is focused on disruptive fintech solutions for the financial services industry. Together, Ideanomics Mobility and Ideanomics Capital provide global customers and partners with leading technologies and services designed to improve transparency, efficiency, and accountability, and offer shareholders the opportunity to participate in high-potential growth industries.

Safe Harbor Statement
This press release contains certain statements that may include "forward looking statements". 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 statements regarding our intention to transition our business model to become a next-generation financial technology company, our business strategy and planned product offerings, our intention to phase out our oil trading and consumer electronics businesses, and potential future financial results. 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 continue as a going concern; our ability to raise additional financing to meet our business requirements; the transformation of our business model; fluctuations in our operating results; strain to our personnel management, financial systems and other resources as we grow our business; our ability to attract and retain key employees and senior management; competitive pressure; our international operations; 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.

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 award has Solectrac received in 2021?

Solectrac received the WINnovation Award at the WIN Expo.

When is the WIN Expo taking place?

The WIN Expo is scheduled for December 2, 2021.

What is the significance of the e70N electric tractor?

The e70N electric tractor is designed for vineyard operations, providing zero-emission and quiet functionality.

Which company is behind the e70N electric tractor?

The e70N electric tractor is produced by Solectrac, a subsidiary of Ideanomics.

Where will the WIN Expo be held?

The WIN Expo will be held at the Sonoma County Fairgrounds in Santa Rosa, California.