Exro Technologies (TSX: EXRO) (OTCQB: EXROF) is a leading clean technology company that has developed a new class of power electronics for electric motors and batteries. The company today announced its entry into an initial purchase order and multiyear master sales and service agreement to supply 1,500 Coil Drive System units to industry leading commercial electric vehicle company SEA Electric. The move is the latest in a series of commercial agreements with Exro’s development partners. “We are thrilled to announce another milestone in our partnership with SEA Electric,” said Sue Ozdemir, Exro CEO. “The project has faced delays as taking new tech to market is never linear, but this milestone is representative of SEA and Exro’s joint commitment to next-generation electrification in e-mobility. As we look to 2023 and beyond, our technology is de-risked, and momentum is building with customers like SEA who are looking for a differentiated technology that can improve performance while reducing cost. This latest announcement is a demonstration of Exro advancing to the next phase with a great partner and major industry player, and we are pleased to signal this unlocking of value to the market for our shareholders.”
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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. Exro’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 many partners from all over the world to bring its technology to the electric mobility industries and beyond. For more information, visit the company’s website at 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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