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    EXRO   CA30222R1091

EXRO TECHNOLOGIES INC.

(EXRO)
  Report
Delayed Toronto Stock Exchange  -  04:00 2022-12-02 pm EST
2.080 CAD   -0.48%
11/30Exro Technologies and Linamar Ready for Operational Tests on an Electronic Axle
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11/30Exro Technologies and Linamar Brief: Exro says successfully completed phase one of its integrated e-axle co-development program with strategic partner, and major tier-1 OEM supplier, Linamar Corporation
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11/30Exro Technologies and Linamar Brief: Exro Announcing Major Milestone with Linamar e-Axle Phase One Project Completion and Providing Operational Update
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Exro Technologies Inc Signs Strategic Distribution Agreement with Inferno Solar for Energy Storage

09/28/2022 | 07:30am EST

Exro Technologies Inc. announced that it has entered into a strategic development and distribution agreement ("the agreement") with Inferno Solar Ltd. ("Inferno"), an Alberta-based supplier of solar and electric vehicle ("EV") charging solutions. The agreement includes deployment of a made-in-Alberta solar-plus-storage product offering, called the Inferno System, which includes Exro's Cell DriverTM Energy Storage System ("Cell DriverTM"). Under the terms of the agreement, Inferno will hold exclusive distribution rights within Western Canada for five years.

The agreement aligns with Exro's targeted go-to-market strategy for its energy storage product offering, partnering with leading clean energy integrators that provide expertise and scalability to accelerate market penetration and deployment to commercial and industrial ("C&I") customers. The agreement will begin with a pilot program in Fourth Quarter 2022 that combines Exro's Cell DriverTM Energy Storage System with Inferno's solar capabilities to create a new product offering, the Inferno System. The Inferno System consists of a solar panel array and stationary energy storage for C&I sites with the addition of charging infrastructure for EV charging sites.

The Inferno System will also be designed to serve as a flexible energy asset, a value-add that supports peak shaving and grid reliability, while also having potential applications for fully off-grid projects. Under the agreement, Inferno retains exclusive rights to market and distribute the Exro Cell DriverTM as a component of the Inferno System in the provinces of British Columbia, Alberta, and Saskatchewan, as well as the Territories of Yukon, Northwest and Nunavut. Exro will be the sole supplier of energy storage for use in the Inferno System, with the system expected to be available for pre-order in Fourth Quarter 2022 with potential customer deliveries beginning as early as second quarter of 2023.

The exclusivity provision of the agreement will have a duration of no more than five years.


ę S&P Capital IQ 2022
All news about EXRO TECHNOLOGIES INC.
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Analyst Recommendations on EXRO TECHNOLOGIES INC.
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Financials
Sales 2022 1,20 M 0,89 M 0,89 M
Net income 2022 -39,3 M -29,1 M -29,1 M
Net Debt 2022 0,66 M 0,49 M 0,49 M
P/E ratio 2022 -7,70x
Yield 2022 -
Capitalization 304 M 225 M 225 M
EV / Sales 2022 254x
EV / Sales 2023 18,9x
Nbr of Employees 76
Free-Float 96,5%
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Mean consensus OUTPERFORM
Number of Analysts 3
Last Close Price 2,08 CAD
Average target price 2,30 CAD
Spread / Average Target 10,6%
EPS Revisions
Managers and Directors
Susanne Ozdemir Chief Executive Officer & Director
William John Meekison Chief Financial Officer
Mark Andrew Godsy Executive Chairman
Eric Hustedt Chief Technology Officer & Chief Engineer
Spyros Gorgogiannis President-Engineering
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