Ideanomics and Global Environmental Products expand partnership to produce Zero-emission sweepers
Ideanomics (NASDAQ: IDEX), a global company focused on accelerating the commercial adoption of electric vehicles (EV), today announced that its subsidiary US Hybrid is supplying Global Environmental Products (GEP) with its proprietary electric and hybrid electric propulsion kits for use in the construction of 62 zero emission street sweepers. Once complete, GEP will provide the sweepers to New York City, California, the City of Helena, Montana, and Washington D.C.
"Together with GEP, we are providing customers across the U.S. with made-in-America zero-emission street sweepers featuring the best available technology pioneered by US Hybrid," said Ideanomics Mobility President, Robin Mackie. "This order, one of the biggest to date, reflects a simple truth – zero-emission street sweepers are better for the planet, communities, and the bottom line. Also, each order supports the growth of America's clean energy economy and green manufacturing jobs."
This is another milestone in the decades-long strategic partnership. In 2009, GEP partnered with US Hybrid to launch the first hybrid electric street sweepers in New York City and has since provided additional units to customers in Japan. In 2021, GEP and US Hybrid deployed a first-of-its-kind, fully electric, supercharged street sweeper in New York, which made a splash by cleaning up iconic Times Square after the 2022 New Year's Eve celebration.
"We care about our environment and believe in designing and building environmentally responsible products. Our long-standing relationship with US Hybrid ensures that we always have the most evolved, zero-emission technology available to us to ensure we can provide our customers state of the art zero emission technology they are looking for," stated Walter Pusic, GEP president.
GEP will provide 17 electric street sweepers to California's Department of Transportation. In addition, the company has signed a letter of intent to supply 30 plug-in hybrid electric street sweepers and seven all-electric street sweepers to New York City. Additional orders for GEP's all-electric street sweepers include two for the City of South San Francisco, three for Washington D.C., and two for the City of Helena, Montana. All sweepers will feature US Hybrid's proprietary technology.
GEP produces hybrid and fully electric street sweepers manufactured in San Bernardino, Calif. An all-electric street sweeper prevents nearly 90 metric tons of carbon emissions from entering the atmosphere over its lifetime and is significantly quieter than sweepers powered by a combustion engine.
Since acquiring US Hybrid in 2021, Ideanomics appointed automotive industry veteran Macy Neshati as interim CEO and invested more capital to enable US Hybrid to keep pace with growing demand for its industry-leading electric powertrains and fuel cell systems. Ideanomics has determined that Neshati will continue in the role of CEO, effective October 1, based on his exceptional leadership, which has enabled US Hybrid to quickly enter new markets, improve operational efficiency, and enhance the visibility of new product offerings to key market segments including a near-zero-emission natural gas-powered parallel hybrid powertrain technology for drayage and long-haul trucks.
Ideanomics is solving the complexity of fleet electrification by bringing together high-performance electric vehicles, charging infrastructure, and financing solutions under one roof. The company views US Hybrid's expertise in designing fuel cell systems and electric power trains as a competitive advantage. Ideanomics is committed to supporting the growth of US Hybrid, which includes exploring opportunities to incorporate US Hybrid technology into the design of Ideanomics' next generation of electric vehicles.