- Exro CEO Sue Ozdemir will host
the company's quarterly webcast to provide shareholders with an
update on the company and its new and ongoing projects.
- Highlights from the webcast will include results from recent
performance testing demonstrating superior Coil Driver
performance.
- Exro will also discuss recent notable hires and Coil Driver
recognition as an Edison Awards Finalist.
CALGARY,
AB, April 7, 2022 /CNW/ - Exro Technologies
Inc. (TSX: EXRO) (OTCQB: EXROF) (the "Company" or "Exro"), a
leading clean technology company that has developed a new class of
power electronics for electric motors and batteries, announced
today updates related to a number of the company's new and ongoing
projects that mark important milestones and progress towards the
commercialization of its Coil DriverTM technology.
During Exro's quarterly webcast hosted by CEO Sue Ozdemir, shareholders will receive these
partner, technology and company updates, as well as answers to
their questions submitted in advance. A recording of the webcast
and the presentation file will be available on the Company website
here:
Exro Events
Shareholders unable to attend the webcast can find an overview
below of the updates that will be covered during the webcast,
including Exro's new Vehicle Systems division and ongoing work with
partners Potencia Industrial, Traktionssysteme Austria (TSA) and
Linamar.
Exro Vehicle Systems:
Exro Vehicle Systems, a division of Exro Technologies Inc.,
secured a purchase order from a leading Tier-1 automotive supplier,
to provide more than $1 million in
engineering design and consulting services. Under the terms of the
purchase order, Exro will deliver design and installation services
for a custom electric powertrain system that features a custom
battery pack solution. The custom system designed for a light-duty
on-road vehicle will also integrate with many automotive original
equipment manufacturer (OEM) systems, including power and control
architectures.
Exro's Vehicle Systems division will execute this order from its
15,000 square foot facility in Detroit,
Michigan. The division serves as a strategic complement and
entry point to Exro's e-mobility business for additional
revenue-generating opportunities.
Potencia Industrial:
Exro announced today an update on the in-vehicle demonstration
as part of its ongoing partnership with Potencia Industrial, S.A.
DE C.V. ("Potencia"). The two companies tested a light-duty
electric cargo truck using a Potencia Y45 electric motor and an Exro 100 Volt Coil
Driver on the streets of Mexico City,
Mexico, to test powertrain performance in densely populated
urban environments and on hilly terrain. Exro's partnership with
Potencia began in 2018, and since then they have been developing a
high-efficiency and reliable solution for light-duty electric
vehicles (EVs). This marks an important milestone towards the
delivery of the Coil Driver in North and South American automotive
markets.
The latest testing with Potencia reinforces Exro's ability to
improve performance and efficiency in low voltage EV applications
and deliver its technology to partners on time. The Company and
Potencia will continue to work together toward commercialization by
providing solutions that can impact communities and markets
globally. As part of the ongoing collaborative development, Exro
and Potencia are exploring 800 Volt systems for medium-and
heavy-duty commercial applications
A demonstration video of the vehicle traversing the streets of
Mexico City will be shared during
the webcast. The video can also be viewed here.
"The latest testing of Exro Coil Driver integrated with our
Y45 electric motor demonstrates the
capabilities of our partnership and of Exro to deliver versatile
solutions for light-duty industrial electric vehicles," said
Tomas Gottfried, Technical Director
at Potencia Industrial. "As part of our ongoing partnership, we
look forward to exploring additional applications of this
cost-effective technology in medium- and heavy-duty commercial
vehicles, as we at Potencia deliver on our mission to enable
Latin America's transition to
electrification."
Traktionssysteme Austria:
Traktionssysteme Austria (TSA) is collaborating with Exro as its
motor partner for high voltage applications. The two companies are
partnering to test and develop electric drive solutions using a TSA
motor and an Exro Coil Driver.
The Coil Driver testing is progressing successfully, and thus
far, the results are exceeding expectations. The results are
showing 4000 Nm of torque and continuous power of 375kW mechanical
output at 4500 RPM, while achieving peak system efficiencies of
95%. This represents a significant performance improvement in a
single electric motor when compared to current industry leaders.
Historically, achieving high torque output may require limiting the
speed range to approximately 2500 RPM or accepting a lower torque
output to increase the speed to higher limits. With Coil
Driver both performance outputs can be accomplished in a single
motor.
Testing is on track to be completed with full performance
mapping this quarter to start delivering the high voltage Coil
Driver pilots to partners.
SEA Electric:
The recent TSA testing supports on-time delivery of the high
voltage Coil Driver for the SEA Electric project in the second
quarter of this year. Using SEA Electric's proprietary
electric power system technology, the companies will uplift a Mack
LR garbage truck with an 800 Volt Coil Driver system and TSA motor,
and an F59 UPS delivery truck with a 400 Volt Coil Driver system
and TSA motor. Following completion of in-vehicle testing, Exro and
SEA Electric hope to accept orders for mass-market commercial fleet
applications by the end of this year.
Linamar:
Prototype testing and validation for a compact and
cost-effective e-Axle with Coil Driver are on track to be completed
this quarter. However, the Linamar project is delayed from delivery
in the second quarter of 2022 to the early third quarter of this
year. While the Coil Driver development remains on track, Linamar
and Exro have experienced supply chain delays as it relates to the
electric motor in the e-axle.
Exro is supporting Linamar's entry into the electric powertrain
space for medium-duty commercial vehicles by designing and
supplying gearbox and intelligent inverter solutions for high-speed
low torque and low-speed high torque applications. This partnership
with a Tier 1 automotive supplier will also establish Exro's
position in the highly competitive automotive supply chain.
Beyond project and partner updates, the webcast will cover
recent company updates such as the hiring of Darrell Bishop, a seasoned capital markets
professional, as Exro's President, Finance and Investor Relations,
and the addition of former Rivian COO Rod
Copes, who brings strategic knowledge on the global mobility
industry, to the advisory board. The Company's Coil Driver was also
chosen as a finalist in the 2022 Edison Best New Product Awards™
for manufacturing, logistics, and transportation. Finally,
Julie Wurmlinger has resigned from
Exro's Board of Directors due personal reasons. The Company wishes
her the best and thanks her for her guidance and support.
"It was great to have the opportunity to engage directly with
our incredible shareholders and followers today. We received lots
of questions, and we really strived to address all questions to the
best of our abilities," said Sue
Ozdemir, CEO of Exro. "We hope our investors, can see just
how excited we are about the trajectory of our company, and that we
continue to remain focused on achieving milestones in the
near-term, which we believe hold the potential to begin unlocking
value for our shareholders."
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.
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING
STATEMENTS
This news release contains forward-looking
statements and forward-looking information (together,
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"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
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cautioned not to place undue reliance on these statements, which
only apply as of the date of this news release, and no assurance
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This information is qualified in its entirety by cautionary
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the Company with the Canadian securities regulators, including the
Company's annual information form for the financial year ended
December 31, 2020, and financial
statements and related MD&A for the financial year ended
December 31, 2020, 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.
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Regulatory Organization of Canada
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release.
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SOURCE Exro Technologies Inc.