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VANCOUVER, B.C. (January 3, 2020) – Exro Technologies Inc. has appointed software and data innovator Steven Moon as Chief Product Officer, to lead further utilization of Exro's electric-motor-enhancing technology by the global marketplace.
Mr. Moon joins Exro (CSE:XRO; OTCQB: EXROF) ( "Exro ", the "Company ") to lead the seamless adoption of Exro's growing product portfolio by the transportation, agriculture, heavy industry, energy, construction, automotive and recreational vehicle sectors, as well as others.
"We are now commercializing Exro with key strategic partners and customers, " said Exro CEO Sue Ozdemir. "The appointment of Steven Moon as Chief Product Officer ensures Exro will be seamlessly integrated into the marketplace, with an exceptional customer experience and significant energy savings and performance gains in electric motors. "
Ozdemir was appointed Exro's CEO in September after serving as CEO of GE's Small Industrial Motors Division, which under her leadership was successfully sold to China's Wolong Electric, one of China's largest motor manufacturers, in July 2018.
Ozdemir has already begun meeting Exro's commercialization milestones. The company's first delivered product for e-bikes has resulted in as much as a 25 per cent boost in torque from Exro, with a corresponding 25 per cent increase in acceleration of e-bikes.
As Co-Founder and CTO of ThisFish Inc., Mr. Moon pioneered a new approach to improving the sustainability of the world's seafood industry, developing and implementing a fully digital product-traceability platform. He also served as software lead and data specialist at Corvus Energy, a leader in energy storage systems.
"Exro has developed ground-breaking technology that dramatically increases the power, speed and efficiency of electric motor systems, " said Moon. "As we focus on commercialization, I am excited to help our partners and customers fully integrate Exro into their operations. "
About Exro Technologies Inc.
Exro facilitates the transition to clean energy by providing products and services to manufacturers to increase the efficiency and reliability of power systems, including electric motors, generators and batteries. Exro's patented technology enhances energy systems by dynamically sensing and adapting variable inputs and optimally matching them to desired outputs, creating measurable performance gains and extended lifespan. The widespread applications of the technology apply to optimizing the performance of electric vehicles, UAVs, and ship drives, as well as pumps, industrial motors, and energy capture from wind and tides.
ON BEHALF OF THE BOARD OF DIRECTORS
Sue Ozdemir, Chief Executive Officer
Canada: Jake Bouma
Intrynsyc Capital Corp.
United States: Vic Allgeier
TTC Group Inc.
Forward Looking Statements
Certain statements contained in this News Release constitute forward-looking statements. When used in this document, the words "believe", "may", "would", "could", "will" and similar expressions, as they relate to the Company or its management are intended to identify forward-looking statements. More particularly and without limitation, this news release contains forward-looking statements and information concerning the Company's intention to commercialize its product in the near term. Such statements reflect the Company's current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the Company's actual performance or achievements to vary from those described herein. Should one or more of these factors or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Company does not assume any obligation to update these forward-looking statements, except as required by law.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.