Calgary, AB (August 20, 2020) – Exro Technologies Inc. (CSE:XRO; OTCQB: EXROF), a leading technology company which has developed a new class of power electronics for powertrains, is pleased to announce its CEO Sue Ozdemir to sit as chair of the newly formed NEMA Automotive Component Council (ACC).
The National Electrical Manufacturers Association (NEMA) announced the establishment of its Automotive Component Council (ACC) to increase manufacturer collaboration in the changing and expanding automotive component market – one that traditionally has been a closed industry. Specifically, the Council will develop a deeper understanding of the automotive supply chain market, advocate for policies and regulations that will impact it, and develop baseline standards for qualification programs in key aspects. The ACC will enlist NEMA Members, other organizations and interested parties that share its goals for broader collaboration in a market that is increasing in sensor technology, component electronics, and the transition to Electric Vehicles.
“The automotive landscape is undergoing a transformation to one that is increasingly connected, electrified, and eventually autonomous. Key aspects of this are the components, products, and systems that constitute a vehicle whether its power driven via an Internal Combustion Engine, Electric power, or a Hybrid of power sources. Our members represent an integral part of the supply chain.” said NEMA President and CEO Kevin Cosgriff. “This council will advance industry interests in a changing market and explore how these changes can impact the manufacture of electrical products and systems.”
“NEMA and its Member companies have devoted months to investigating opportunities in the space,” said NEMA Industry Director for Transportation Systems Division Steve Griffith. “Creating this Council provides a great opportunity to establish a venue for collaboration, networking, and partnering with auto manufacturers and their associations on relevant companies. I encourage manufacturing and technology firms to join the ACC in this effort, an integral part of the overall automotive sector.”
“I am eager to apply my more than two decades of experience in the electric motor industry with the new NEMA Council” added Sue Ozdemir the CEO of Exro Technologies, who is working with Griffith to establish the ACC and will serve as chair of the council. “Having previously worked at General Electric, I have obtained a wealth of knowledge in motor design, automation equipment, and market trends. Transportation electrification is happening, and it will have profound effects on the automotive component market. It is important to stay aligned with this rapidly growing landscape and NEMA is an ideal location for this undertaking.”
About Exro Technologies Inc.
Exro is a Clean Tech company that has developed a new class of control technology for electric powertrains. Exro’s advanced motor control technology, our “Coil Driver”, expands the capabilities of electric motors and powertrains. The Coil Driver enables two separate torque profiles within a given motor. The first is calibrated for low speed and high torque, while the second provides expanded operation at high speed. The ability to change configuration allows efficiency optimization for each operating mode, resulting in overall reductions in energy consumption. The controller automatically and seamlessly selects the appropriate configuration in real time so that torque demand and efficiency are optimized.
The limitations of traditional electric machines and power technology are becoming more evident. In many increasingly prominent applications, traditional methods cannot meet the required performance. This means either oversizing the equipment, adding additional motors, or implementing heavy mechanical geared solutions. Exro offers a new solution for system optimization through implementation of its technology which can yield the following results: increased drive cycle efficiency, reduced system volume, reduced weight, expanded torque and speed capabilities. Exro allows the application to achieve more with less energy consumed.
For more information visit our website at www.exro.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Sue Ozdemir, Chief Executive Officer
Canada: Jake Bouma
VP of Investor Relations
United States: Vic Allgeier
TTC Group Inc.
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This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects”, "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". Forward looking statements involve risks, uncertainties and other factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s filings with Canadian securities regulators, that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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