Exro Technologies (TSX.V: EXRO) (OTCQB: EXROF), a leading clean-technology company that has developed a new class of power electronics for electric motors and batteries, is reporting on the first quarter 2022, the period ended March 31, 2022. Highlights of the report include the company’s continued focus on increasing the capital assets of its world-class automated inverter facility, including the construction of the company’s cleanroom, and the agreements the company has signed, including the sales and services agreement Vicinity Motor Corp. for the sale of up to 2,500 units, including a Coil Driver(TM) and electric motor, and the sales agreement with ev Transportation Services Inc. to provide 1,000 units of its 100V Coil Drive System beginning next year. The company also noted that it opened its new office in Michigan at the beginning of the year, a move designed to position the services division to better execute and provide end-to-end elective vehicle design and engineering services. In addition, the company was awarded the 2022 Gold Edison Award for Best New Product in manufacturing, logistics and transportation. “As we continue to advance development, and recently transitioned commercialization projects with partners, all of our resources are running at full capacity,” said Exro Technologies CEO Sue Ozdemir in the press release. “In addition to our two recently announced purchase orders and sales agreements, Exro was awarded an Edison Gold Award for Best New Product in manufacturing, logistics and transportation — another validation of our Coil Driver technology and the impact we can provide to drive adoption rates in the transition to electrification in mobility. I am proud of the accomplishments of our team thus far in 2022, and excited to continue to deliver on the targets we have set ahead.”
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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. The company’s advanced motor control technology, the Coil Driver(TM) , expands the capabilities of electric powertrains by enabling intelligent optimization for efficient energy consumption. Exro is working with partners from all over the world to bring its technology to the electric mobility industries and beyond. For more information about the company, please visit www.Exro.com.
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