Exro Technologies Inc. announced a significant corporate milestone with the official start of production of its patented next-generation Coil Driver inverter technology for electric vehicles at the company's manufacturing facility in Calgary, Alberta, Canada. First production is backed by initial purchase order commitments for low-voltage Coil Driver units from Italian OEM supplier HB4 Group following on-road commercial truck testing that demonstrated a more than 20% range increase over the predecessor technology. Initial low-voltage production and deliveries for HB4 Group will be followed by high-voltage Coil Driver systems production and deliveries to Canadian electric bus and commercial vehicle manufacturer, Vicinity Motor Corp.

for e-bus applications. In addition to starting production, Exro is on schedule to integrate Coil Driver products with several strategic customers in Canada, Europe, South America, and the United States in 2023 - demonstrating its patented technology, continued growth opportunities, and credibility towards unlocking the $45 billion market opportunity in commercial e-vehicles.