WAVE Charging, a wholly-owned subsidiary of Ideanomics (NASDAQ: IDEX) and developer of high-power, wireless inductive charging solutions for medium- and heavy-duty commercial vehicles, proudly announces the appointment of Macy Neshati as General Manager.

In his new role, Neshati will take charge of overseeing operations and driving the expansion of WAVE Charging's current customer base, including the two confidential commercial fleet customers previously disclosed.

Mr. Neshati brings a wealth of experience to his new position, including experience as part of the Ideanomics group of companies. Prior to joining WAVE Charging, he served as the CEO of Ideanomics subsidiary U.S. Hybrid. During his tenure, he played a pivotal role in enhancing and expanding U.S. Hybrid's strategic partnerships with industry leaders such as Global Environmental Products, Toyota Tsusho, and A-1 Alternative Fuel Systems. Under his leadership, U.S. Hybrid transformed into an industry leader renowned for its zero-emission solutions for specialty vehicles.

Neshati's professional background also includes leadership roles at the Antelope Valley Transit Authority (AVTA) and BYD, where he contributed significantly to the advancement of electric vehicle technology. AVTA, the First All-Electric Zero-Emission Transit Agency in North America, is a key, longtime customer of WAVE Charging. Moreover, many of WAVE's existing customers utilize their charging infrastructure with BYD vehicles. Neshati's extensive experience positions him as a staunch advocate for WAVE's products, underpinned by a profound understanding of the benefits of WAVE's high-power wireless charging from both customer and technology partner perspectives.

In response to his appointment, Macy Neshati stated: "I am honored to join WAVE Charging at this pivotal moment. The electrification of commercial transportation is accelerating, and WAVE's innovative wireless charging solutions are poised to play a crucial role in shaping the industry's future. I look forward to leading WAVE in expanding its footprint and delivering sustainable charging solutions to meet the evolving needs of our customers."

Ideanomics CEO Alf Poor expressed his confidence in Mr. Neshati's ability to lead WAVE Charging into its next phase of growth, stating: "Macy's proven track record of driving innovation and growth within the clean energy and transportation sectors makes him the ideal candidate to lead WAVE Charging. His strategic vision and deep industry knowledge will be invaluable assets as we continue to revolutionize the commercial vehicle charging landscape."