Solectrac, an Ideanomics Company, Named a Top-10 Product Winner at 2022 World Ag Expo

SANTA ROSA, Calif., Dec. 7, 2021 /PRNewswire/ -- Today, Solectrac announced it is being honored as one of the winners of World Ag Expo's® Top 10 New Products Competition for the groundbreaking technology in its e70N battery-powered electric tractor. Solectrac is a subsidiary of Ideanomics (NASDAQ: IDEX) which is focused on driving the adoption of commercial electric vehicles and passenger e-mobility solutions, charging, and associated energy consumption.

 The Top-10 New Products Competition is conducted annually by the International Agri-Center in conjunction with World Ag Expo, the largest agricultural trade show in the world. Judges include farmers, ranchers, and industry professionals, who look at dozens of cutting-edge products and recognize only 10 that represent the best in the industry, helping farmers save money and resources.

"We are honored to receive this distinction from the officials at World Ag Expo," said Mani Iyer, CEO of Solectrac. "We are committed to providing an opportunity for farmers around the world to power their tractors by using the sun, wind, and other clean renewable sources of energy. Solectrac offers independence from the pollution, infrastructure, and price volatility associated with fossil fuels, and this prestigious award enhances our industry-leading commitment to that goal."

Solectrac's e70N is leading the way to regenerative agriculture. The Solectrac e70N electric tractor is equivalent to a 70HP diesel tractor, without the harmful emissions but with all of the power needed on farms and in vineyards, and is a specially designed narrow tractor to fit between narrow rows of vines. The tractor has four-wheel drive, and its electric motor provides instant torque with only one moving part vs. the roughly 300 in a diesel engine, reducing maintenance needs. The e70N offers 4-8 hours of operation from a single charge, depending on load, and the ability to extend that time with exchangeable battery packs. The tractor can be charged from the utility grid or renewable sources of energy to further reduce its carbon footprint. The e70N can replace similar sized diesel tractors and eliminate the health impacts of harmful emissions and noise to operators.

Solectrac tractors are assembled in Santa Rosa, Calif. and the company is B Corp certified. The e70N tractor was also recently honored with the WINnovation Award at this year's WIN Expo 2021.

World Ag Expo is held at the International Agri-Center in Tulare, Calif. from Feb. 8-10, 2022 and draws more than 1,400 exhibitors with an estimated 100,000 visitors from more than 70 countries. At the show, attendees will get an opportunity to view the award-winning Solectrac e70N and other electric tractor models in-action, meet with company leadership, and learn more about how they can implement zero-emission machinery on their farms and vineyards at demo space #2.

For more information and news on Solectrac, please visit www.solectrac.com.

About Solectrac
Solectrac, Inc., located in Northern California, has developed 100% battery-powered, all-electric tractors for agriculture and utility operations. Solectrac tractors provide an opportunity for farmers around the world to power their tractors by using the sun, wind, and other clean, renewable sources of energy. The company's mission is to offer farmers independence from the pollution, infrastructure, and price volatility associated with fossil fuels.

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  
[email protected]

Malory Van Guilder, Skyya PR for Ideanomics
[email protected]

SOURCE Solectrac

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