Exro Technologies (TSX: EXRO) (OTCQB: EXROF) is a leading clean technology company that develops new generation power-control electronics that expand the capabilities of electric motors and batteries. The company today announced a significant milestone in its first in-field pilot location for its Cell Driver(TM) Energy Storage System in partnership with post-secondary institution Red Deer Polytechnic, in Central Alberta. Exro also announced moving Brazilian partner Giaffone Electric (“Giaffone”) out of a nondisclosure agreement (“NDA”). The milestone is marked by purchase order commitments for Exro’s 800 Volt Coil Driver(TM) System to be integrated into Giaffone electric commercial vehicles with initial deliveries beginning in Q4 2023. “We are thrilled to announce the first of several near-term pilot projects for our Cell Driver battery energy storage system technology,” said Exro’s Sue Ozdemir. “The pilot projects represent our ability to commercialize the Cell Driver in parallel to the final months of UL testing. These pilots will serve to demonstrate our best-in-class battery control through the collection of real-time metered data on commercial industry-building applications in North America. The C&I industry is a growing sector forecasted to be up to $14 billion by 2027 (McKinsey et al, 2023). Exro is well positioned to become a market leader for commercial and industrial energy storage applications.”
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About Exro Technologies Inc.
Exro Technologies is a leading clean technology company that has developed new generation power control electronics that change how the world optimizes energy by expanding the capabilities of electric motors and batteries. The company’s innovative technologies serve to bridge the performance-cost gap in e-mobility (Coil Driver(TM)) and stationary energy storage (Cell Driver(TM)), and act to accelerate adoption towards a circular electrified economy by delivering more with less – minimum energy for maximum results. For more information, visit the company’s website at www.Exro.com.
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