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, has shared its annual shareholder letter from CEO Sue Ozdemir. The letter provides a brief overview of the company’s development in the past year, including insight into its product technology and proprietary intellectual property, as well as outlining Exro’s growing partner strategies and organizational structure. The letter noted that the company is moving its technology from development into commercialization, with a strategic plan in place that involves continued development of patents, deployment of validated technology and commercialization for a profitable future. Ozdemir explained that the company’s inaugural product, the Coil Driver(TM), represents integration of Exro’s validated coil switching patents into a new topology of inverter and enables intelligent control of multiple torque profiles in a single motor completely through the inverter. The company’s second product, the Battery Control System (“BCS”) enables intelligent control of the cells within a battery. The letter reported that Exro currently has 25 granted patents and nine patents pending globally, with existing patents representing a combination of hardware and software systems. In addition, the letter outlined the company’s new partner model, which includes four different types of partners: development, commercial, strategic and motor. “Looking forward to our growth plans this year, you can expect that we will remain focused on completing our milestones,” stated Exro Technologies CEO Sue Ozdemir in the shareholder letter. “I am genuinely excited about our future. Customer demand is strong, and despite the challenges the past year has thrown at all of us, our team remained committed and made incredible progress under the COVID guidelines to execute for our customers and partners. It takes a special team to overcome the adversity, adapt, and deliver a new technology to market and I am so thrilled we have put that together. I can’t wait to see what we can accomplish moving forward. The Exro in front of you today is one that will be a market leader in the future.”
To view the full press release, visit https://ibn.fm/ITGRO
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. Exro’s advanced motor control technology, the Coil Driver, expands the capabilities of powertrains by enabling two separate torque profiles within a given motor. A major advancement in the sector, dynamic motor configuration enables efficiency optimization for each operating mode resulting in reduction of energy consumption. The controller automatically selects the appropriate configuration in real time so that power and efficiency are intelligently optimized. For more information about the company, please visit www.Exro.com.
NOTE TO INVESTORS: The latest news and updates relating to EXROF are available in the company’s newsroom at http://ibn.fm/EXROF
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