- Exro CEO
Sue Ozdemir hosted the company's first quarterly webcast to provide shareholders with an update on the company and its many projects. - Highlights from the webcast include the completion of the Coil Driver installation with
Potencia Industrial that marks the first vehicle integration for the technology and successful performance testing with Zero Motorcycles. - Exro also announced progress towards securing equipment necessary to bypass the long lead times the electric vehicle industry is currently facing, and that the new facilities remain on track to be completed next year.
Exro Events
For shareholders unable to join the webcast, please find an overview of the partner updates below. Ongoing projects with Aurora Powertrains, Heinzmann, Vicinity Motor Corp (VMC), and
Zero Motorcycles:
Exro has been collaborating with Zero Motorcycles to integrate Exro's
"We're excited to see how Exro's technology can further enhance the performance of our bikes," said
Following a thorough customer validation process, test bench results demonstrated performance improvements in Potencia's electric motor with Exro's 100 Volt Coil Driver. The Exro and Potencia teams also completed the installation of the 100 Volt Coil Driver into their vehicle application, a first for the 100 Volt Coil Driver, and will now move forward to six to nine months of on-road operational reliability testing.
"We're proud of what we've accomplished with Exro over the years and to finally progress to the operating stage," said
Linamar:
This project continues to be on track for an
Supply chain and test capacity delays have impacted deliveries on two key projects: 1) an uplifted Mack LR garbage truck with Exro's 800V drive system and 2) an upfitted F59 delivery truck with Exro's 400V drive system. Despite these delays, Exro has been able to demonstrate increased torque in the final testing on its high-speed mode with the
"We believe that electric trucks and commercial delivery fleets have a huge role to play in reducing transportation emissions globally," said
Beyond partner updates, the webcast covered recent company updates such as the successful completion of AVL's third-party testing of the Coil Driver. The results from the world's largest independent company for testing in the automotive industry confirm the technology works as expected in an electric motor application. This validation should enhance the fast-growing pipeline of demand for Exro that already includes pilot orders.
Exro also discussed the equipment it secured to get ahead of the long lead times the electric vehicle industry is currently facing. The company ordered essential equipment for its facilities, including two dynamometers ("dynos") and clean room equipment for its Canadian manufacturing facility currently under construction. The Canadian manufacturing facility and American innovation facility are both on track to be completed next year. There will be multiple vehicle demonstrations available at the American innovation facility in
"It was great to have the opportunity to engage directly with all of our engaged followers today, we received lots of questions and we really strived to address all your questions to the best of our abilities," said
About
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.
Visit us on social media @exrotech.
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.
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