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VANCOUVER, B.C. – December 3, 2018 - Exro Technologies Inc. (CSE: XRO; OTCQB: EXROF) and Potencia Industrial, a global manufacturing company based in Mexico City (“the Companies”), have initiated phase one of their collaboration on taxi motor conversions pursuant to the news release issued May 7, 2018.
The Companies have identified that the intelligent control systems that Exro is bringing to the collaboration can be integrated into the battery pack that powers Potencia’s electric motors immediately, with the aim of providing an improvement on standard battery management systems that Exro has called an “intelligent battery management system” (“IEMS”). This represents an accelerated first step toward trialling Exro technology, with the Exro prototype IEMS expected to be delivered to Potencia in the second quarter of 2019 to start immediate testing.
As part of the strategic collaboration, Potencia has provided Exro with a pilot purchase order for delivery of a prototype IEMS for a 50KW battery which will be tested in Potencia’s battery laboratory prior to integration in electric vehicle applications. In this project, Potencia will study how the Exro IEMS performs; evaluate improvements delivered in operational range, costs, efficiency and battery longevity; and provide feedback and data for any functional adjustments.
Mark Godsy, CEO of Exro stated, “This pilot order represents a major milestone in our commercialization efforts and we are delighted to work with Potencia. Batteries are a critical part of most electric solutions and so any improvements realized in this trial could have a far-reaching impact.”
Exro aims to accelerate the transition to clean energy by improving the performance and lifespan of energy systems using motors, generators and batteries.
Exro’s patented technology benefits energy systems by dynamically adapting the components input and output with the goal of achieving specific, measurable performance gains and extended lifespan in applications ranging from electric cars, pumps, ship drives, grid storage, industrial motors, and all other applications that require intelligent energy conversion. For more information visit our website at www.exro.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Mark Godsy, Director & CEO
INVESTOR CONTACT INFORMATION
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.