Ideanomics (NASDAQ: IDEX) ("Ideanomics" or the "Company") is pleased to announce it has entered into a series of agreements with the Town of West Hartford over its 58-acre property which it had acquired in October 2018 to develop as a fintech village technology park.
The two parties entered into a series of agreements which include extending the ball field leases in exchange for the town assuming the landscaping of the 58-acre site. Additionally, the town of West Hartford has secured a right of first refusal to purchase the property and will conduct due diligence to explore the viability of purchasing the site to bring it under the town's control.
"The Town of West Hartford has been supportive of the Fintech Village plans throughout the acquisition and remediation phases of the project, so we are pleased to be able to enter into these agreements which enables the town find a path to securing the athletic and baseball fields on the site which are an important part of the community," said Alf Poor, CEO of Ideanomics. "I am pleased for the Mayor, the Township Manager, and their staff who work tirelessly for the best interests of their community. As we adjust our business to focus more on the opportunities in the electric vehicle sector, we wanted to find a partner who would continue to develop the property in a manner that enriches the town of West Hartford. We look forward to working with them on the possibility of their acquiring the property, as they would be excellent custodians of the site."