Exro Announces Partner Milestones, Technology and Company

  • Exro CEO Sue Ozdemir hosts a dwell webcast to provide shareholders a watch inside its production facility and a overview of the to start with 50 % of 2022.
  • Exro shared a digital tour of its point out-of-the-artwork sustainable manufacturing facility in Calgary, Alberta, demonstrating development in direction of establishing a resilient, localized source chain in North The united states.
  • Further highlights from the webcast contain business enterprise updates, as perfectly as a recap of achievements in the very first 50 percent of this 12 months.

CALGARY, AB, July 14, 2022 /PRNewswire/ – Exro Technologies Inc. (TSX: EXRO) (OTCQB: EXROF) (the “Organization” or “Exro”), a main clean engineering company that has made a new class of electric power electronics for electric motors and batteries, introduced now mid-calendar year business updates in a dwell webcast and the presentation file will be obtainable on the Enterprise web site in this article.

Shareholders unable to go to the webcast can locate an overview beneath of the information and facts protected during the webcast, such as updates on Exro’s services and abilities, strength storage process technological know-how and other critical projects.

Exro’s technological know-how is preferably positioned to evolve and have interaction alongside the electrification of transportation regardless of propulsion know-how market direction. The company laid out a systematic go-to-sector strategy by making momentum with crucial players in the e-mobility and power storage marketplaces, growing partnerships, building on its successful track record of innovation and enhance its penetration of the OEM marketplace with its engineering and consulting choices.

Exro shared data about its award-winning Coil Driver™ engineering and its native ability to perform as an AC quick charger, reducing the require for an on-board charger or exterior DC fast charger. The technological innovation can produce up to degree 4 quickly-charging and car or truck-to-something (V2X) capabilities. These item characteristics present added benefits to unique equipment makers (“OEMs”), electric auto fleet operators and charging operators by simplifying electric powertrains and minimizing full value of possession.

Exro shared additional info about its Vitality Storage Process (“ESS”), which is powered by its patented Battery Handle System™ (“BCS”). The BCS technologies expands the capabilities of batteries in their to start with and 2nd everyday living by enabling a greater depth of control on the cells. The technologies optimizes battery packs for health and fitness and performance at the cellular degree, extending battery daily life and allowing stationary vitality storage programs to work more properly, with fewer down time.

The Firm’s patent portfolio proceeds to mature and now consists of 40 patents that have been posted or are pending. This incorporates 25 issued and 15 patent applications, with wholly owned mental assets in 13 patent families. Exro’s global patent portfolio includes protection in strategic nations around the world, which include the U.S., Canada, Wonderful Britain, France, Hong Kong, Japan and lots of some others. 

Exro’s partnership with Traktionssysteme Austria (TSA) is progressing well, as the two companies are collaborating on a motor for large voltage purposes. The two corporations are partnering to examination and acquire electrical drive options employing a TSA motor and an Exro Coil Driver™. Modern testing continues to assist Exro’s best-in-course performance and continue to exceed anticipations, acquiring higher torque output without the need of limitations to speed array. An engineering crew from Exro will travel to Austria next week for the up coming phase of testing on the high voltage Coil Push Procedure.

Services Update:

For the duration of modern dwell webcast, Exro CEO Sue Ozdemir shared a digital tour of the Company’s state-of-the-art sustainable producing facility in Calgary. To meet automaker’s staunch Environmental, Social and Governance (“ESG”) provide chain expectations and Exro’s web-zero carbon emissions targets, the 37,000 sq. foot facility will run on thoroughly clean vitality answers. The producing facility will have the ability to create up to 100,000 units every year. The facility characteristics a solar panel array on the roof and a Course 10,000 clean area with a floor mount know-how (SMT) manufacturing line. The manufacturing facility will aim to be ISO 9001, ISO 45001, ISO 14001, and IATF 16949 compliant for the commence of manufacturing.

On top of that, the earth course, web-zero built facility features specialized cleanliness, track and trace, drinking water conservation and zero waste product capabilities. It was created in compliance with the most stringent world wide good quality standards, building it unique in North The us for automotive apps.

To fulfill automaker need for resilient, localized offer chains, Exro is concentrated on completing its new facilities in Calgary and Mesa, Arizona. Anticipating source chain delays, Exro proactively ordered dynamometers (“dyno”) of many dimensions for its North American services. Exro has taken shipping and delivery of its mid-sizing dyno in Mesa, Arizona. The dyno has been commissioned and is now ready for use at the Company’s U.S. innovation heart. A significant dyno was ordered in 2021 and is expected to get there at Exro facilities by the conclude of the third quarter.

Exro remains on track to commission its SMT production line ahead of 12 months-close. The equipment is on site and mounted at the Firm’s manufacturing facility, and engineers are at the moment functioning by start off up techniques for the products.

SEA Electrical

In spite of recent TSA tests which would assist on-time supply of the substantial voltage Coil Driver for the SEA Electrical job in the second quarter of this calendar year, this timeline has been impacted by source chain problems. Although Exro and SEA Electric powered carry on to collaborate, supply of the Firm’s Coil Driver™ is now now scheduled for the 3rd quarter of 2022. This delay does not influence the targeted initial output dates in the second half of 2023. The teams are operating concurrently to prepare for set up and integration upon shipping.

Linamar:

Exro is co-producing a upcoming generation e-axle with Linamar for the electric powered powertrain market place for medium-obligation industrial motor vehicles by coming up with and providing gearbox and clever inverter answers for significant-velocity reduced torque and low-velocity substantial torque applications. This ongoing partnership with a Tier 1 automotive supplier maintains Exro’s placement in the highly competitive automotive supply chain. Prototype testing and validation for a compact and price tag-powerful e-Axle with Coil Driver™ stay on keep track of to be completed this quarter. 

Vicinity Motor Business:

In May, Exro introduced a obtain purchase from Canadian-based mostly bus producer Vicinity Motor Corporation. The multiyear sales and assistance agreement (the “settlement”), involves the acquire of substantial-voltage Coil Drive Program units from Exro, along with a generation slot, process pricing and commissioning solutions.

Exro Motor vehicle Techniques will supply program engineering consulting providers to integrate the electric powered powertrain for Vicinity’s fleet of up coming-technology electric buses. News of this deal adopted a earlier announced offer agreement beneath which the firms have completed practically 12 months of enhancement and tests to conduct operational validation for the Vicinity Lightning™ electric powered bus.  

evTS:

Also in Could, Exro announced that it had signed an agreement with ev Transportation Solutions, Inc. (“evTS”), a Boston-dependent specialty electrical motor vehicle manufacturer, to supply an preliminary quantity of 1,000 units of its 100V Coil Drive Procedure beginning in 2023 for use in evTS design 12 months 2023 FireFly automobiles.  

This get followed months of collaboration under a non-disclosure settlement (“NDA”) in between the Exro and evTS engineering teams and demonstrated the improvement and optimization of FireFly powertrain performance enabled by Exro’s award-profitable Coil Driver™ technological innovation. This arrangement is the end result of the cooperative endeavours of the two corporations to style and deploy high-doing objective-created, professional electrical motor vehicles. 

“It was wonderful to have the opportunity to interact instantly with our amazing shareholders and followers these days, present updates on our development and give them an option to see our condition-of-the-artwork production facility in Calgary,” explained Sue Ozdemir, CEO of Exro. “We have accomplished a excellent offer in excess of the to start with 50 % of this yr and are getting momentum every working day on our route to consider our product to sector, establish our backlog, broaden our expertise pool and improve our resilience amid ongoing offer chain issues. At Exro, we are dedicated to bringing our following technology system of revolutionary command technological innovation to industry, and whilst we strive to assign and supply on timelines, there is not constantly a direct route with new technological innovation. Our determination to delivering for our associates and customers continues to be unwavering.”

About Exro Technologies Inc.

Exro is a clean technologies business revolutionary intelligent handle remedies in energy electronics to aid address the most demanding problems in electrification. Exro has created a new class of control technology that expands the abilities of electrical motors, turbines, and batteries. Exro enables the software to obtain additional with a lot less electrical power eaten.

Exro’s superior motor command technologies, the Coil DriverTM, expands the abilities of electric powertrains by enabling intelligent optimization for productive vitality use. Exro is performing with a lot of companions from all over the environment to provide their technological know-how to the electric powered mobility industries and outside of.

For additional details visit our web site at www.exro.com.

To look at our Corporate Presentation visit us at www.exro.com/investors

Pay a visit to us on social media @exrotech.

CAUTIONARY Statement Regarding Forward Looking STATEMENTS

This news release consists of forward-seeking statements and forward-looking info (jointly, “ahead-hunting statements”) inside of the which means of relevant securities legislation. All statements, other than statements of historic points, are forward-hunting statements. Normally, forward-hunting statements can be recognized by the use of terminology such as “ideas”, “expects”, “estimates”, “intends”, “anticipates”, “thinks” or versions of these words and phrases, or statements that selected steps, situations or effects “may well”, “could”, “would”, “may well”, “will be taken”, “come about” or “be accomplished”. Ahead on the lookout statements require threats, uncertainties and other factors disclosed below the heading “Hazard Variables” and elsewhere in the Company’s filings with Canadian securities regulators, that could cause actual effects, overall performance, prospective customers and opportunities to differ materially from those people expressed or implied by such forward-looking statements. Though the Organization believes that the assumptions and things utilized in making ready these ahead-searching statements are reasonable based mostly upon the data at this time offered to management as of the day hereof, precise effects and developments could differ materially from people contemplated by these statements. Visitors are therefore cautioned not to position undue reliance on these statements, which only apply as of the day of this news release, and no assurance can be supplied that this sort of activities will occur in the disclosed situations frames or at all. Other than wherever required by applicable regulation, the Firm disclaims any intention or obligation to update or revise any ahead-wanting statement, whether or not as a final result of new information, long term gatherings or usually.

This info is capable in its entirety by cautionary statements and hazard aspect disclosure contained in filings manufactured by the Company with the Canadian securities regulators, such as the Company’s annual facts variety for the economical calendar year ended December 31, 2021, and money statements and related MD&A for the money yr finished December 31, 2021, submitted with the securities regulatory authorities in sure provinces of Canada and accessible at sedar.com.  Should just one or much more of these hazards or uncertainties materialize, or should really assumptions fundamental the ahead-searching information show incorrect, actual outcomes could vary materially from all those explained herein as supposed, prepared, anticipated, believed, believed or expected. Even though the Organization has tried to establish vital hazards, uncertainties and aspects which could result in genuine results to differ materially, there may perhaps be other individuals that result in effects not to be as anticipated, believed or intended. The Corporation does not intend, and does not think any obligation, to update this forward-hunting information apart from as otherwise demanded by relevant law.

Neither the Toronto Stock Exchange nor the Investment decision Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this push launch.

Resource Exro Systems Inc.

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