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MarketScreener Homepage  >  Equities  >  CANADIAN NATIONAL STOCK EXCHANGE  >  Exro Technologies Inc    XRO   CA30222R1091

EXRO TECHNOLOGIES INC (XRO)
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Exro Collaborates with Fortune 50 Company to Integrate Its DPM Technology for an Unmanned Aerial Vehicle

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12/20/2017 | 10:35pm CEST

Vancouver, British Columbia--(Newsfile Corp. - December 20, 2017) - Exro Technologies Inc. (CSE: XRO("Exro" or the "Company") is pleased to announce that it has agreed to integrate its proprietary Direct Power Management (DPM) technology into a motor used for a fixed wing Unmanned Aerial Vehicle (UAV). The integration will be for a Fortune 50 company working on UAV technologies for its customers and will be tested and calibrated over a 3-4 month period. The purpose of this project is to determine whether Exro's technology can extend flight service and range.

The companies anticipate that incorporating Exro's DPM technology may also provide an assist in managing torque issues as the motor gets to its operating RPM, helping to extend operating life. The companies will also explore whether Exro's technology, which isolates coils and reconfigures them in real time, can prevent catastrophic failure in the event of an electrical fault.

Exro CEO Mark Godsy stated: "We are delighted to have an opportunity to validate our technology for a commercial motor application. Assuming we are successful, working with a company of this magnitude will help to accelerate Exro's path toward commercialization."

About Exro:

Exro Technologies offers the potential to accelerate the transition to clean energy by improving the efficiency and reliability of fuel-powered electric motors and generators, which make up about half the worldwide market for electric power. Exro's patented Dynamic Power Management technology works on both input and output in electric motors and generators, dynamically sensing and adapting variable inputs and optimally matching them to desired outputs, resulting in specific, measurable (approximately 2-7% in benchmark testing to date) performance gains. The applications of the technology are enormous, applying both to energy capture from wind and tides, to optimizing the performance of electric cars, UAVs, pumps, ship drives, industrial motors, vacuums and anything else powered by an electric motor or generator. By isolating individual coils, Exro's DPM technology also offers electrical system redundancy, which can prevent catastrophic failures for mission critical applications such as flight. Please visit our website at www.exro.com.

Certain statements contained in this News Release constitute forward-looking statements. When used in this document, the words "may", "would", "could", "will" and similar expressions, as they relate to the Company or its management are intended to identify forward-looking statements. Such statements reflect the Company's current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the Company's actual performance or achievements to vary from those described herein. Should one or more of these factors or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Company does not assume any obligation to update these forward-looking statements, except as required by law.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.

ON BEHALF OF THE BOARD OF DIRECTORS
Mark Godsy, Director & CEO

INVESTOR CONTACT INFORMATION
Lyle McLennan: 604 808 9221


© Newsfilecorp 2017
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NameTitle
William John Meekison Chief Financial Officer
Frank Stephen Borowicz Independent Director
Daniel Patrick McGahn Independent Director
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