• US Hybrid will host a press conference on today's news at the Advanced Clean Transportation (ACT) Expo in Long Beach, Calif., at 2:15 p.m. PT in Ideanomics booth #1648
• Today's announcement marks a new milestone for compressed natural gas (CNG) vehicle conversion and integration, which will enable industry-first vehicle-to-vehicle (V2V) charging.
• The new technology has gone through six years of research, development, and rigorous testing. It delivers more power, increased range, and a more efficient powertrain than diesel-powered engines and other compressed natural gas (CNG) alternatives.

US Hybrid, a wholly-owned subsidiary of Ideanomics (NASDAQ: IDEX) and a leader in advanced battery, fuel cell, and hybrid electric vehicles, today announced the launch of near-zero-emission natural gas-powered parallel hybrid powertrain technology to be used for drayage and long-haul trucks. The new technology is currently on display at the ACT Expo in Long Beach, Calif., in Ideanomics' booth #1648. In conjunction with today's announcement, US Hybrid will host a press conference at ACT Expo at 2:15 p.m. PT.

Product Overview

After six years of research, development, and rigorous testing, US Hybrid's new vehicle-agnostic technology will deliver more power, increased range, and a more efficient powertrain than diesel-powered engines or other CNG or renewable natural gas (RNG) alternatives. The technological advantages include

• More Power: 640 hp combined power and 1770 lb-ft maximum torque from the natural gas-powered engine. The electric motor enables uphill acceleration with superior performance compared to its diesel engine alternatives.
• Less Fuel: A smaller 8.9 liters Near-Zero NOx engine will operate more efficiently, resulting in double fuel economy than a standard 15-liter engine and reducing fueling costs.
• Better Range: Preliminary testing suggests this fuel-efficient technology can deliver up to 1,000 miles of range per fuel fill, doubling range, power, and torque for similar CNG/RNG trucks.
• Increased Efficiency: The improvement in CNG engine performance paralleled with the electric motor, with appropriate controls, for transient load uptake results in lower NOx emissions and lower fuel consumption
• Near-Zero-Emission: Our technology emits lower than 0.02 g/bhp-hr of nitrogen dioxide and will significantly improve the air quality of neighborhoods near ports and warehouses.
• Zero-Emission Port and Harbor Transportation Operations: Our technology delivers a lower HSE (Health, Safety, and Environmental) impact on port operations and the surrounding communities.

This industry-first, advanced technology will add near-zero-emission road-side charging assistance to standard long-haul fleet operators, offering versatility and convenience to fleet customers.

"We have reached another milestone on our path to accelerate the transition to commercial electrification," said Macy Neshati, Interim CEO of US Hybrid. "US Hybrid spends years perfecting our technology before it is brought to market. Our pathway to commercialization delivers a proven solution backed by data. Fleet customers can feel confident in the performance and reliability of US Hybrid's new powertrain. Attendees at the ACT Expo will see firsthand, end-user benefits: increased vehicle range, less fuel requirements, and the reduced total cost of ownership."

"The ACT Expo is the largest clean fleet event in North America, and Ideanomics' operating companies are showcasing what we bring to the table from Solectrac's electric tractors to WAVE's inductive charging pads," said Robin Mackie, president of mobility at Ideanomics. "US Hybrid is integral in our work to accelerate the transition to electrification. The new near-zero-emission powertrain paired with industry-first V2V charging and support from Ideanomics' capital-as-a-service offerings greatly simplify the path to electrification for fleet owners."

US Hybrid is showcasing its new and existing technology in the Ideanomics booth at ACT Expo today through May 12 in Long Beach, Calif. Additional Ideanomics operating companies, including WAVE and Solectrac, also have products on display in booth #1648. Leadership from all companies is available for meetings by request by emailing idea@skyya.com.

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

US Hybrid specializes in designing and manufacturing zero-emission electric powertrain components, including traction motors, controllers, auxiliary drives, energy storage and fuel cell engines for electric, hybrid, and fuel cell medium and heavy-duty municipality vehicles, commercial trucks, buses, and specialty vehicles throughout the world. To learn more about US Hybrid, please visit https://ushybrid.com/.

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 the completeness of 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