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Nice one John. More to come, let's see next half hour..
There is no one better at explaining our Coil Driver™ technology than our CTO, Eric Hustedt!
— Exro Technologies (@exrotech) January 27, 2023
Watch the full video here: https://t.co/Ru9EiwKkJg pic.twitter.com/YzdQyexSWa
New High!!!! Bought some more yesterday so now I'm up 30% instead of 100%. Love the graph!
ever since the lawsuit disappeared officially. its been north
a large commercial order announced in tandem with uplist...its coming..imo
New 52 week high. Something is brewing.
Liking this stock. Up 73%. Wished I bought more.
thanks i paid double what i sold it for but over the years ive paid more for less of what this company now is. this time im home for good
Welcome back. Some positive news should be imminent. I would guess a Nasdaq listing would be possible by summer. Very possible 10 bagger or more in 2023. GLTA
feels good to be home.. scalped around ended up being the scalpee .. should have never left.. promise ill be nice...
Added at 1.55. My position is now established. Hopefully, I can retire in 2 years just from this stock. 20.00 to 100.00 per share plus is very doable by then. The opportunity reminds me of ENPH which I bought at 14.70 a share a few years ago after a tip from my son who is in the solar business in Florida. Just hit a high of 333.98 today. The same potential is here. GLTA
Exro Announces Major Milestone with Linamar e-Axle Phase One Project Completion and Provides Operational Update
Exro has successfully completed phase one of its integrated e-axle co-development program with strategic partner, and major tier-1 OEM supplier, Linamar Corporation
Exro remains committed to delivering on remaining key deliverables on behalf of shareholders by year-end, including pilots to SEA Electric and Vicinity, and new strategic partner
Commencement of series production of Exro's Coil Driver™ remains on schedule for Q3 2023 from the Company’s world-class manufacturing center in Calgary, Alberta
Exro executives will host a live ‘Deep-Dive’ Shareholder Webcast today at 1:00 pm ET to discuss the Company’s strategy, operations, partners, and more.
CALGARY, Alberta (November 30, 2022) – Exro Technologies Inc. (TSX: EXRO, OTCQB: EXROF) (the "Company" or "Exro"), a leading clean technology company that has developed new generation power electronics that change how the world optimizes energy by expanding the capabilities of electric motors and batteries, is pleased to provide an operational update highlighted by completion of phase one of its e-axle development project with strategic partner Linamar Corporation (TSX: LNR). The project now transitions to the second and final phase which includes electric axle (“e-axle”) integration, testing, and validation by Linamar.
“Phase one completion of our project with Linamar marks a major milestone for the project, and a significant corporate milestone for Exro”, said Exro CEO, Sue Ozdemir. “Our employees have demonstrated the ability to deliver leading edge technology to a major tier-1 automotive OEM supplier. We look forward to the next phase of the project and to an exciting future with a great partner.”
Sue added, “We have a busy several weeks ahead as we work to deliver on other commitments to shareholders by year end, including high voltage pilot deliveries and naming a new strategic partner. While there are no guarantees, we are very optimistic we will accomplish these in December.”
Linamar Project – Phase One Delivered
Linamar is an advanced manufacturing company where the intersection of leading-edge technology and deep manufacturing expertise is creating solutions that power vehicles, motion, work and lives for the future. The company is a trusted tier-1 supplier to major OEMs in the automotive industry with more than 25,000 employees and 60 manufacturing locations globally.
Approximately 22 months ago, a goal was established with Linamar to co-develop a next-generation e-Axle utilizing Coil Driver™ technology. An e-axle combines an electric vehicle's motor, gears, and inverter into the drive axle of the vehicle. In a traditional powertrain set up, the motor and inverter are in separate housings on the vehicle chassis. E-axles are emerging as the future of medium and heavy-duty vehicles, giving fleets an opportunity to reduce maintenance requirements, and energy consumption, while also reducing costs and complexity. By combining Exro’s new generation technology with Linamar’s expertise, the partners aim to offer a cost-effective product with superior performance to the medium duty truck segment.
In the initial phase of development, Exro would supply 800V Coil Driver™ inverter samples designed for integration into an e-Axle program. Exro is pleased to report that the Company has completed phase one of the project marking a significant project, and corporate milestone. In phase two of the project, Linamar will supply and integrate the remaining critical elements of the system, including the gearbox assembly, for testing and on-road validation. Following the successful testing period, expected into Q2 2023, Exro and Linamar intend to jointly promote the technology to the market with the intention of commercializing the Coil Driver™ e-Axle into series production.
Operations Update
Q4 2022 continues to be a busy period for the company. With today’s project announcement with Linamar, along with Exro’s recently announced ISO 9001 quality management certification, Exro has delivered on two key commitments for shareholders before year-end. Two key additional commitments remain: 1) Delivery of high-voltage sample Coil Driver™ units to partners SEA Electric and Vicinity, and 2) Naming of a new strategic partnership. The company is working diligently, and remains optimistic, in achieving these commitments by year-end.
Coil Driver™ Products Update
Series production of the Coil Driver™ from Exro's world-class automotive manufacturing facility in Calgary, Alberta remains on-schedule to commence in Q3 2023. The company has made significant progress on the facility through 2022 and its core technology that will be manufactured from this location. One area that continues to limit the pace of activity is dyno testing capacity. Commissioning on Exro’s medium dyno earlier this year doubled testing capacity, however, a continued delay of large capacity dyno from a supplier has had an impact on planning and testing time. Ordered in April 2021 with an estimated delivery time of 12 months, this testing equipment is now anticipated to be delivered in Q1 2023, from Q4 2022 previously. Exro is mitigating this delay through extended in-house testing times and utilizing a third-party facility in the Detroit area.
With these mitigation efforts Exro can keep all projects predominantly on-time. Exro’s low voltage 100V Coil Driver™ is the most mature of the Exro products. Exro continues to progress partnerships and validations of our NDA partners in Europe, Zero Motorcycles, as well as Potencia and evTS. Final product validation testing and additional samples for low voltage drives are on-track for December delivery. Given multiple motor types across these projects, dyno times include multiple motor testing to fine tune software algorithms. All low voltage projects remain on track for start of production in Q3 2023.
On Exro’s high voltage (400V and 800V) drives, all projects also remain on track for start of production in Q3 2023. The Company continues to work towards sample pilot deliveries to SEA Electric and Vicinity in December following testing at the third-party facility. While Exro had planned to have more high-voltage pilots delivered beyond those committed by year end, with the delayed dyno and a focus on the Linamar project and final low voltage drive testing over the last several weeks, additional samples are now scheduled for Q1 and Q2 2023.
Strategic Partner Update
Exro is bringing to market its new generation power electronics technology for e-mobility via a partner model, leveraging customers across diverse industry segments to integrate its Coil Driver™ technology. The Company’s partnerships include commercial development partners such as SEA Electric, Vicinity, and evTS (delivery vans, e-buses, and smaller last mile delivery vehicles, respectively) where Coil Driver™ products can be validated in these partner platforms and serve to open up other customers across each market segment. Strategic partners such as Linamar are focused on potential high-volume production making use of Exro technology for long term serial production. Motor partners are also very strategic in nature as they provide a conduit by pulling Exro into their network to amplify the potential customer base. These partners work collaboratively with Exro to develop an optimized motor to integrate with the Coil Driver™ and provide a packaged motor and inverter system solution that can deliver be delivered to specific applications or market segments.
Following delivery of the e-Axle prototype to Linamar, Exro has the resource capacity to onboard another strategic development partner. The company is in negotiations with several such major potential partners and remains optimistic of a partnership announcement by year-end.
Shareholder Webcast today at 1:00 p.m. ET
On Wednesday, November 30th at 11:00 a.m. MDT (1:00 p.m. ET), join the discussion with Sue Ozdemir and Exro executive for a live ‘Deep-Dive’ update into Exro’s strategy, products, partners, and more. See the link below to register for the event.
https://www.exro.com/investors/events
About Exro Technologies Inc.
Exro Technologies Inc. is a leading clean technology company that has developed new generation power electronics that change how the world optimizes energy by expanding the capabilities of electric motors and batteries. The company’s innovative technologies bridge the performance-cost gap in e-mobility (Coil Driver™) and energy storage (Cell Driver™) to accelerate adoption towards a circular electrified economy by delivering more with less – minimum energy for maximum results.
For more information visit our website at www.exro.com.
To view our Corporate Presentation visit us at www.exro.com/investors
Visit us on social media @exrotech.
Twitter Linkedin YouTube Facebook
Exro Technologies Contact Information
Investor inquiries: ir@exro.com
Canada investors: Jake Bouma at 604-317-3936
United States investors: Vic Allgeier at 646-841-4220
Media inquiries: media@exro.com
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS
This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects", "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". Forward looking statements involve risks, uncertainties and other factors disclosed under the heading "Risk Factors" and elsewhere in the Company's filings with Canadian securities regulators, that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by the Company with the Canadian securities regulators, including the Company's annual information form for the financial year ended December 31, 2021, and financial statements and related MD&A for the financial year ended December 31, 2021, filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
Neither the Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this press release.
Copyright © 2022 Exro Technologies Inc, All rights reserved.
Smoking on a universally down day! Bullish!
futr
For sure. I am transferring some funds so I can add more Monday or Tuesday. They have won 3 major awards in the past few months. The potential is enormous.
Things definitely looking up here.
Exro Technologies' Achieves ISO 9001 Certification for its World-Class Manufacturing and Innovation Centers in Calgary, Alberta
Exro has achieved ISO 9001:2015 certification at its world-class manufacturing center and innovation center, both located in Calgary, Alberta, Canada
ISO 9001:2015 is an internationally recognized standard for quality, processes, and safety, and is a gateway prerequisite to IATF 16949 certification (global automotive quality management)
Exro’s manufacturing, innovation, and vehicle systems centers are complimentary operations, enabling Exro the ability to provide end-to-end technology solutions for customers
Exro has delivered on its commitment to shareholders to achieve ISO certification by year-end 2022, backstopping the company’s timeline for start of series production of its industry disruptive Coil Driver™ and Cell Driver™ products in Q3 2023
CALGARY, Alberta (November 21, 2022) – Exro Technologies Inc. (TSX: EXRO, OTCQB: EXROF) (the "Company" or "Exro") a leading clean technology company that has developed new generation power electronics that change how the world optimizes energy by expanding the capabilities of electric motors and batteries, is pleased to announce that the Company has achieved International Organization for Standardization (ISO) ISO 9001:2015 certification at its world-class manufacturing center and engineering innovation center, both located in Calgary, Alberta, Canada. This certifies that the Company has met the technical and quality benchmarks required by ISO 9001:2015 for its quality management system related to R&D, design, development, and testing of Coil Driver™ inverter for e-mobility and Cell Driver™ energy storage systems for commercial & industrial applications.
"This is a foundational operational milestone for Exro," said Exro’s President of Manufacturing Simon Strawbridge, who led the certification program. "Certification underpins Exro’s vision of Quality before Quantity (QbQ) in a world-class manufacturing facility, operating on a Right First Time (RFT) approach with a Zero-Defect mentality.”
An internationally recognized quality standard, ISO 9001:2015 sets quality management principles for both service and manufacturing organizations, including a strong customer focus, a process-based approach, risk-based thinking, continual improvement, and top-down management support. In an increasingly competitive market, ISO 9001 certification is a necessary tool for conducting domestic and global business.
“ISO 9001 certification is an essential milestone on Exro's path of developing superior products to the highest standards in performance, quality, and functional safety”, said Chief Executive Officer Sue Ozdemir. “This certification is a fundamental building block towards achieving IATF 16949 certification (Global Automotive Quality Management System), ensuring that Exro’s systems and processes are focused on meeting the highest quality, safety, and efficiency standards for our current and future automotive customers. This achievement is a testament to the high-quality, cross-functional, and collaborative efforts of every employee at Exro.”
World Class Manufacturing Complimented by R&D, Design, Testing, & Vehicle Integration Services
Exro’s Manufacturing Center is a 37,000 ft2 world-class automated inverter manufacturing and assembly facility. The manufacturing center compliments the company’s research and development, design, and testing innovation centers in Calgary and Mesa, Arizona as well as Exro Vehicle Systems EV integration services in Ann Arbor, Michigan, to provide end-to-end full-stack technology solutions for customers. Boasting a class 10,000 clean room, the facility brings European automotive standards for technical cleanliness and track and trace to North America. The only facility of its kind in North America, the manufacturing center fills a unique gap by providing customers with a strategic onshore supply chain solution for key powertrain components. On schedule for start of production (SOP) in Q3 2023, this net-zero targeted facility will be capable of producing 100,000 Coil Driver™ units per year, per an 8-hour work shift.
Exro’s Calgary and Mesa Innovation Centers are both 15,000 ft2 engineering laboratories focused on advanced power electronics design and development for the Company’s core technology: the Coil Driver™ inverter for e-mobility, and the Cell Driver™ battery control system for stationary energy storage. The Calgary facility is equipped with both a medium and small duty dyno for product testing, as well as sample assembly, while Mesa hosts a medium duty dyno and is Exro’s primary site for vehicle product demonstration. Exro Vehicle Systems in Ann Arbor rounds out Exro’s eco-system by providing end-to-end EV design and engineering services complete powertrain designs that integrate Exro’s core technology including embedded software, Vehicle Control Units (VCUs) and batteries.
Since May 2022, Exro has announced three initial purchase orders, each backed by multi-year sales agreements, in addition to a new product development with a major European partner in off-highway applications announced in October. In the months ahead, Exro intends to continue backfilling the manufacturing facility production capacity, demonstrating the strong customer demand witnessed internally for the Company’s products while further de-risking visibility for shareholders to a significant revenue ramp-up beginning in 2023.
About Exro Technologies Inc.
Exro Technologies Inc. is a leading clean technology company that has developed new generation power electronics that change how the world optimizes energy by expanding the capabilities of electric motors and batteries. The company’s innovative technologies bridge the performance-cost gap in e-mobility (Coil Driver™) and energy storage (Cell Driver™) to accelerate adoption towards a circular electrified economy by delivering more with less – minimum energy for maximum results.
Exro’s advanced motor control technology, the Coil Driver™, expands the capabilities of electric powertrains by enabling intelligent optimization for efficient energy consumption. Exro is working with many partners from all over the world to bring their technology to the electric mobility industries and beyond.
For more information visit our website at www.exro.com.
To view our Corporate Presentation visit us at www.exro.com/investors
Visit us on social media @exrotech.
Twitter Linkedin YouTube Facebook
Exro Technologies Contact Information
Investor inquiries: ir@exro.com
Canada investors
Exro Technologies' Receives the 2022 Illuminations Award for Business Innovation from the National Electrical Manufacturers Association
Exro Technologies is winner of the 2022 ‘Illuminations Award for Business Innovation’ from leading electrical manufacturing industry group NEMA
Past notable winner of this award from the e-mobility space is 2019 recipient ChargePoint Holdings Inc.
The recognition is the third major industry award received in 2022, following on Exro’s recent AutoTech Breakthrough Award and the company’s Edison Gold Award earlier this year
Exro was selected based on the company’s technical innovation and application of advanced technology in electrification
CALGARY, Alberta (November 18, 2022) – Exro Technologies Inc. (TSX: EXRO, OTCQB: EXROF) (the "Company" or "Exro") is pleased to announce that the company is the recipient of the 2022 “Illuminations Award for Business Innovation” from the National Electrical Manufacturers Association (NEMA). The NEMA Nominations and Awards Committee selected Exro based on its technical innovation and application of advanced technology. Exro is honored to be recognized amongst prior recipients from the e-mobility space, including companies such as ChargePoint Holdings Inc.
Founded in 1926, NEMA is an ANSI-accredited Standards Development Organization (SDO) made up of business leaders, electrical experts, engineers, scientists, and technicians. The “Illuminations Award for Business Innovation” is an annual recognition of a company that has demonstrated success through entrepreneurial expertise, application of advanced technology, or pioneering innovation. This year’s award was accepted last evening by Sue Ozdemir, CEO of Exro, at NEMA’s Annual Meeting and Awards Gala Dinner in Amelia Island, Florida.
In accepting this honor, Sue Ozdemir stated, “It gives me great pride to accept this award from NEMA, an organization which I respect dearly for its contributions to our industry, and which shares Exro’s commitment to leading the transition towards a sustainable electrified world. While Exro is a relative newcomer on the electrification stage, we continue to punch above our weight-class having advanced our innovative proprietary technologies for e-mobility (Coil DriverTM) and stationary energy storage (Cell DriverTM) from relative proof-of-concepts in 2019 to manufacturing commercialization with the start of series production in Q3 2023. We are incredibly grateful to NEMA for this recognition and for the industry leadership they provide to the many great electrical products manufacturers.”
Exro Coil DriverTM – Award Winning Technology for e-Mobility
An electric motor is only as smart as the controller telling it how to behave. At Exro, our theory is that if we make the controller smarter, we can increase the performance of the entire powertrain. Exro accomplishes this with a new generation of power control electronics called the Coil DriverTM. The Coil DriverTM takes the prior-art physics of coil-switching and provides the ability to control an electric motor at the individual coil level through the power electronics embedded in the inverter. This coil-level control provides the ability to switch motor profiles in real-time to deliver two separate speed-torque profiles from the same motor, effectively expanding the operating range of the motor by functioning like an electronic gear. This allows manufacturers significant flexibility in design: Exro’s technology can increase performance by up to 50% for a marginal cost increase or can optimize the system to reduce the weight, complexity, and up to 20% cost savings of their powertrains without sacrificing performance. The Coil DriverTM also removes the on-board charger for high voltage drives. The removal of additional equipment simplifies the system, reduces system energy loss, and enables design flexibility for integrators. This leads to major cost efficiencies for electric transportation modes, providing the potential to accelerate the transportation industry's transition away from combustion engines by solving automakers' performance-cost trade-offs. Series production of the Coil DriverTM will begin from Exro's world-class manufacturing facility in Calgary, Alberta beginning in Q3 2023, offering customers the security of North American supply for up to 300,000 units per year.
Exro’s Cell Driver™ – New Generation Technology for Energy Storage
With the global push towards sustainable clean energy solutions, the market outlook for stationary energy storage continues to grow. Stress on utility grids has resulted in rolling blackouts in places such as California, Texas, Arizona and more. These blackouts, combined with inflated peak rate charges for electricity, highlight the growing need for flexible back up energy storage solutions, particularly for commercial and industrial applications. As the world looks to accelerate adoption rates in the electrification of transportation and energy storage, one of the greatest challenges to be addressed in the next 5-10 years is the supply of batteries. While applicable for new batteries, the primary objective of Exro’s Cell Driver™ technology is to provide an effective solution for second-life applications, providing significant cost savings by reviving and utilizing used EV and telecom batteries for a second-life application. Enabling reuse of these cells is critical to reducing the environmental and climate change impacts associated with battery recycling and disposal and offering a real-world solution that leads the way to a circular electrified economy. Exro’s Cell Driver™ is equipped with the company’s battery control system technology, next-generation innovation that expands the capabilities of batteries by dynamically monitoring and controlling at the cell level. Its ability to store excess clean solar power reduces energy costs for large power consumers by enabling greater control over when they draw electricity from their local utility grid. Electricity rates vary based on when and how unique power sources are used, and energy stored in Exro’s Cell Driver™ can be used to power EV charging stations and C&I facilities when rates are higher to keep energy costs low.
About Exro Technologies Inc.
Exro Technologies Inc. is a leading clean technology company that has developed new generation power electronics that change how the world optimizes energy by expanding the capabilities of electric motors and batteries. The company’s innovative technologies bridge the performance-cost gap in e-mobility (Coil Driver TM) and energy storage (Cell DriverTM) to accelerate adoption towards a circular electrified economy by delivering more with less – minimum energy for maximum results.
Exro’s advanced motor control technology, the Coil DriverTM, expands the capabilities of electric powertrains by enabling intelligent optimization for efficient energy consumption. Exro is working with many partners from all over the world to bring their technology to the electric mobility industries and beyond.
For more information visit our website at www.exro.com.
To view our Corporate Presentation visit us at www.exro.com/investors
Visit us on social media @exrotech.
Exro Technologies' Announces Resolution to its Patent Dispute with ePropelled
CALGARY, Alberta (November 15, 2022) – Exro Technologies Inc. (TSX: EXRO, OTCQB: EXROF) (the "Company" or "Exro") a leading clean energy technology company that has developed new generation power control electronics that expand the capabilities of electric motors and batteries, is pleased to announce that it has resolved its dispute with ePropelled, Inc. relating to the patent infringement lawsuit that ePropelled filed against Exro in the U.S. District Court for the District of Massachusetts.
The parties have agreed that Exro’s Coil Drive System™ (CDS) and Coil DriversTM do not infringe upon any claim of ePropelled’s U.S. Patent No. 7,382,103 (“the ’103 patent”). As a result, the parties have stipulated to the dismissal of the lawsuit with prejudice. The parties have also stipulated to the dismissal of the defamation suit Exro filed against ePropelled in the Superior Court of Massachusetts, and the parties have agreed to file a joint motion to withdraw the Petition for Inter Partes Review Exro had filed with the United States Patent and Trademark Office challenging the validity of the ’103 patent.
“From the onset of this infringement case against Exro earlier this year, we remained steadfast in our message: that we respect the intellectual property of others, and that we will rigorously defend Exro's proprietary technology", said Exro CEO Sue Ozdemir. "We appreciate that the litigation process of this case has had a negative impact on our stock price. Consequently we are very pleased that the infringement case has resulted in confirmation that we are not infringing on ePropelled's patent, resolving this matter without monetary settlement of any kind. We look forward to putting this matter behind us and remaining focused on the key deliverables in the months ahead: delivery of pilots to customers in Q4/22, development sample deliveries to customers in Q1/23, UL certification for our energy storage system in Q2/23, the start of series production manufacturing in Q3 2023, and new partnership/customer announcements along the way."
About Exro Technologies Inc.
Exro is a clean technology company pioneering intelligent control solutions in power electronics to help solve the most challenging problems in electrification. Exro has developed a new class of control technology that expands the capabilities of electric motors, generators, and batteries. Exro enables the application to achieve more with less energy consumed.
Exro’s advanced motor control technology, the Coil DriverTM, expands the capabilities of electric powertrains by enabling intelligent optimization for efficient energy consumption. Exro is working with many partners from all over the world to bring their technology to the electric mobility industries and beyond.
For more information visit our website at www.exro.com.
To view our Corporate Presentation visit us at www.exro.com/investors
Visit us on social media @exrotech.
Twitter Linkedin YouTube Facebook
Exro Technologies Contact Information
Investor inquiries: ir@exro.com
Canada investors: Jake Bouma at 604-317-3936
United States investors: Vic Allgeier at 646-841-4220
Media inquiries: media@exro.com
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS
This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects", "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". Forward looking statements involve risks, uncertainties and other factors disclosed under the heading "Risk Factors" and elsewhere in the Company's filings with Canadian securities regulators, that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by the Company with the Canadian securities regulators, including the Company's annual information form for the financial year ended December 31, 2021, and financial statements and related MD&A for the financial year ended December 31, 2021, filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
Neither the Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this press release.
Copyright © 2022 Exro Technologies Inc, All rights reserved.
Yes...I tried to buy shares before lunch today and couldnt....said it was halted.
Is there a halt situation before news?
Is there a halt situation before news?
Hope folks took advantage of that protracted dip window....
Finally, back above 1.00. Hopefully it will hold. For the past 3 weeks, in a relatively down market, this stock has been making some nice gains. 2023 should be our year. The potential here is massive and there is finally light at the end of the tunnel.
GLTA
The wait continues
progress continues...
Exro Technologies' Wins Innovation of the Year Award at 2022
AutoTech Breakthrough Awards
Exro’s Coil Driver™ technology named the ‘2022 Engine Tech Innovation of the Year’ winner at AutoTech’s 2022 Breakthrough Awards.
The recognition is the second industry award received in 2022, following on the heels of Exro’s Edison Gold Award win for Best New Product in Manufacturing, Logistics and Transportation earlier this year.
Exro’s Coil Driver™ was chosen for its innovative ability to bridge the performance-cost gap by its ability to deliver more power, speed, torque, and range at a lower cost of ownership.
The spirit of the AutoTech Breakthrough Awards is to highlight ‘Breakthrough’ technology companies, services and products that are driving rapid change within the crowded AutoTech market.
CALGARY, Alberta (October 13, 2022) – Exro Technologies Inc. (TSX: EXRO, OTCQB: EXROF) (the "Company" or "Exro") announced today that its Coil Driver™ technology was named the ‘2022 Engine Tech Innovation of the Year’ by the AutoTech Breakthrough Awards. Exro is honored alongside winners in other categories and prior recipients including BMW, Ford, Mercedes-Benz and Toyota, among others.
“We are pleased to recognize Exro Technologies with the ‘Engine Tech Innovation of the Year’ award. Auto manufacturers currently use multiple motors and mechanical gear boxes to achieve various speed and torque profiles. Exro successfully combines two traditionally separate formats of power electronics: the series mode for low-speed torque and parallel mode for high-speed efficiency”, said Bryan Vaughn, Managing Director of AutoTech Breakthrough Awards. “Coil switching is the switching of electric motor configurations while in operation to optimize speed and torque — similar to how a gearbox changes the gears for a combustion vehicle as it changes speed. With its ability to improve performance, reduce costs, and increase range, Coil Driver will bridge the automotive industry’s gap to electrification.”
Exro’s Coil Driver™ – Award Winning Technology for e-Mobility
“It is an honor for Exro to be recognized by AutoTech amongst the automotive industry’s most established and innovative technology companies,” said Exro CEO Sue Ozdemir. “Following our Edison Gold Award earlier this year, this is the second major industry award our Coil Driver has received in 2022, further independently validating that our technology is proven, de-risked and ready to seize a significant market opportunity as the world looks to accelerate a transition to a more sustainable electrified future. The Coil Driver is a differentiator in the e-mobility space, and like the product recognition by organizations such as AutoTech, we are seeing a growing demand from transportation industry players.”
Exro’s proprietary Coil Driver™ provides manufacturers significant flexibility in design to: a) increase performance by up to 50% for a marginal cost increase, or b) optimize the system to reduce the weight, complexity, and up to 20% powertrain cost savings without sacrificing performance. This leads to major cost efficiencies for electric transportation modes, providing the potential to accelerate the transportation industry's transition away from combustion engines by solving automakers' performance-cost trade-offs.
Exro's Coil Driver™ technology is proven, independently validated through AVL, one of the world’s largest independent automotive laboratories, functional in vehicles across three different countries, and is now the recipient of two prestigious automotive industry awards in 2022. Series production of the Coil Driver™ will begin from Exro's world-class net-zero targeted automotive manufacturing facility in Calgary, Alberta beginning in Q3 2023, offering customers the security of North American supply for up to 300,000 units per year. Over the coming quarters, Exro intends to continue backfilling the facility production capacity, building on three initial purchase-orders backed by multi-year sales agreements announced since Q2 2022, in addition to a new product development with an NDA partner announced last week, to de-risk visibility for shareholders to a significant revenue ramp-up beginning in 2023.
The AutoTech Breakthrough Awards
Exro’s Coil Driver™ was awarded the AutoTech Breakthrough Award for its ability to deliver more power, speed, torque and efficiency at a lower cost of ownership. The AutoTech Awards are run by the Tech Breakthrough organization, a leading market intelligence and recognition platform for the most innovative technology companies in the world. The organization recognizes the top technology companies, services and products that are driving rapid change in the field of transportation and automotive technology. In the spirit of technology “Breakthrough,” the organization looks for innovative solutions and companies that address a true need, solve a complex or critical problem, or seize an opportunity and create or revolutionize a new market or industry.
About Exro Technologies Inc.
Exro is a clean technology company pioneering intelligent control solutions in power electronics to help solve the most challenging problems in electrification. Exro has developed a new class of control technology that expands the capabilities of electric motors, generators, and batteries. Exro enables the application to achieve more with less energy consumed.
Exro’s advanced motor control technology, the Coil Driver??, expands the capabilities of electric powertrains by enabling intelligent optimization for efficient energy consumption. Exro is working with many partners from all over the world to bring their technology to the electric mobility industries and beyond.
For more information visit our website at www.exro.com.
Visit us on social media @exrotech.
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Exro Technologies Contact Information
Investor inquiries: ir@exro.com
Canada investors: Jake Bouma at 604-317-3936
United States investors: Vic Allgeier at 646-841-4220
Media inquiries: media@exro.com
Investor inquiries: ir@exro.com
Canada investors: Jake Bouma at 604-317-3936
United States investors: Vic Allgeier at 646-841-4220
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS
This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects”, "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". Forward looking statements involve risks, uncertainties and other factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s filings with Canadian securities regulators, that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Copyright © 2022 Exro Technologies Inc, All rights reserved.
Thanks for some levity...
Keep that thought!!
GLTA
The market hit a triple bottom..Hopefully upward traction will take us into the winter and carry EXROF with it. Gltua
Exro 2022 Q3 Corporate Presentation
Exro is devoted to fulfilling its promises and creating lasting value for its shareholders with bold direction and disciplined innovation. We appreciate your continued support and enthusiasm for the advantages Exro offers the electric mobility and energy storage industries.
https://files.exro.com/investors/Exro-2022-Q3-Corporate-Presentation.pdf
Nice move up today.
way oversold. The down market is crushing the price here as well. Double down window starting to open wide
Scooters and 3-wheelers are really what’s driving an EV revolution
Strong sales in China, India, and Vietnam contribute to a global fleet of 275 million vehicles.
https://restofworld.org/2022/scooters-and-3-wheelers-are-really-whats-driving-an-ev-revolution/?mc_cid=a7c0154d0d&mc_eid=d533ffec17
Looks like support is around $.50.
no more pontificating from me im out and wish you all the best
a comparison of sorts
had a dear friend that had lupus and the only thing that could help control it was Prednisone. so we went doctor to doctor and finally the doctor said. the lupus wont kill her the prednisone will because it cause heart disease.....if i.c.e. is the worlds lupus (fossil fuels).. or greed as i think is more likely the cause if it is man made at all... then evs are just prednisone... choose your poison or better yet learn to live with less and give mother nature a breather instead of monetizing a cure that doesnt cure anything ..of course there are benefits to both but the underlying issue is greed..imo..still holding but the upside here is mt everest..
well...there is no dilution in the near future so how much lower it goes depends upon a question i have
is this a bridge to nowhere? now exrof is more of a pure play than an ev play. they can manufacture and they can license and the applications are endless but the interest that i thought would be here has not materialized and i wonder is it because that people think that ev's are not the answer to a problem real or imagined..im torn. and the selling continues...
en breve...ill give you something to work with. i get the feeling that ev's are being shoved down our throat and that there is no organic mkt for them.
Free/anyone tell me why you still hold ..im losing faith
this is like watching a 42 car pile up...what has become of the stock mkt... good thing im poor. i cant fall that far
i am the king of nickel dimers.. scalped another 150 shares flipping the small account. very funny 8450 total..woo hoo
i think we have held up exceptionally well in a brutal few days. something is nigh
i am in jail in one account with 7800 shares and 83 days before i can buy the other tiny account i have i sold and flipped another stock this am and bought back exrof and scalped 60 shares. i feel like i won the lottery 8300 total now...
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Exro technology also applies the principle of managing “energy” as it converts at the individual level to lithium ion batteries. By managing the charge and discharge of energy at the individual cell level of a lithium ion battery, Exro’s aims to improve the battery performance and efficiencies, which should result in longer usage and possibly a second life of a battery.
Exro’s Dynamic Power Management system has evolved into an intelligent energy management system with broader applications. Exro is putting the intelligence into energy management and seeks to accelerate the global transition to clean energy.
Website: https://www.exro.com/
Recent Video Interviews
21 May 2020
https://www.youtube.com/watch?v=98Qf2oisM4c&feature=share
20 May 2020
https://investorintel.us14.list-manage.com/track/click?u=e095328b2a8caf17510e93758&id=b0c90cb489&e=7a34d6d184
Partnership News
June 15, 2020
Zero Motorcycles-Exro Technologies to Collaborate in Developing Advanced Coil Drive Powertrain for the Electric Motorcycle Market
https://www.exro.com/news/zero-motorcycles-exro-technologies-to-collaborate-in-developing-advanced-coil-drive-powertrain-for-the-electric-motorcycle/
February 6, 2020
Exro Enters Emerging Electric Snowmobile Sector
https://www.exro.com/news/exro-enters-emerging-electric-snowmobile-sector/
December 18, 2019
Exro Dramatically Improves e-Bike Performance
https://www.exro.com/news/exro-dramatically-improves-e-bike-performance-1/
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