VANCOUVER, B.C. – Exro Technologies Inc. (CSE: XRO; OTCQB: EXROF) (the “Company” or “Exro”) is pleased to announce it has received its first production order for Motor Drivers from Potencia Industrial, S.A. DE C.V. (“Potencia”). This approximately US $500,000 purchase order is a result of successful testing that was achieved from the initial order announced on June 19, 2019 (News Release). The Motor Drivers are designed for independent integration as well as being one of five modular units that comprise the overall Intelligent Energy Management System (“IEMS”) that was announced on June 12, 2019 (News Release).
The Motor Driver connects the battery to the electric motor and enables the motor to run more efficiently with high reliability and safety features. Potencia is integrating the motor drivers into vehicles that have been identified for conversion of internal combustion engines to electric motors. This new purchase order supports Potencia’s product offering and Government initiatives for vehicle electrification and is the start of both companies’ commercialization efforts.
“Potencia’s purchase order shows confidence in our ability to deliver cost benefits and improved performance with our Motor Drivers” said Ari Berger, CTO of Exro “and we are one step closer to Exro’s IEMS” We will have some optimization steps as we advance our IEMS”
Delivery of the Motor Drivers is anticipated to start in Q1 2020 and will be done in phases allowing Exro to ramp up production while optimizing processes.
Sue Ozdemir, CEO of Exro said “This is a big milestone for the Exro team as it marks another success in tackling the energy market and utilizing our technology to partner with companies who are working to make a difference. This is just the start of our strategic commercialization initiatives as we look to grow our partnerships with customers around the world.
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.
About Potencia Industrial
Potencia Industrial designs and manufactures special application, high efficiency electrical motors and generators. Specializing in creative solutions and applications, Potencia meets the highest technical requirements in power security and energy efficiency. Its state-of-the-art machines meet and exceed the most stringent customer specifications and maintain IEEE, NEMA and IEC standards. Potencia has set several industry benchmarks in permanent magnet generator, kinetic energy storage, and high efficiency patented technologies.
Structured under vertical integration, Potencia meets engineering and manufacturing challenges with the experience of a solid 50-year background. Potencia’s vertical integration of its manufacturing processes include lamination stamping, core assembly, welding and fabrication, high-precision machining, coil manufacturing, winding, assembly and laboratory testing. Tools, dies, jigs, fixtures, casting patterns and molds are also designed and made in-house.
For more information visit our website at www.exro.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Sue Ozdemir, CEO
INVESTOR CONTACT INFORMATION: firstname.lastname@example.org
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.
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