Exro Technologies is pleased to welcome Gary Mar as a new Advisory Board Member
Previous Minister for the Government of Alberta joins Exro Advisory Board
Deep experience in government and business
Expand the reach of Exro’s Technology with energy and innovation in a more sustainable future and development with net zero initiatives
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Calgary, AB (August 13, 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 that Gary Mar, an accomplished and respected leader in government and business, has joined the Exro Business Advisory Board (“Advisory Board”). Mar will provide guidance as Exro develops its technology into the marketplace and innovates solutions to support Net Zero Initiatives globally.
Mar has broad experience in government having served as a Member of the Legislative Assembly in the Province of Alberta from 1993-2007. During his time as an elected official, Gary held several Cabinet portfolios: Community Development; Health and Wellness; Education; Environment; and International and Intergovernmental Relations. Gary subsequently served as President and CEO of the Petroleum Services Association of Canada (PSAC), the national trade association representing the service, supply, and manufacturing sectors within the upstream petroleum industry.
Mar was named President and CEO of the Canada West Foundation (CWF) in April 2020 and established expertise in key policy areas including: natural resources; trade and investment; and human capital. Gary brings deep experience in both government and business to Exro, where he will support our efforts to make an impact in the energy sector with Net Zero opportunities and environmental sustainability.
“I am thrilled to join the Business Advisory Board and the team at Exro”, said Gary Mar. “I’ve been a champion of Alberta and its interests globally for many years and I see a great opportunity for Exro Technologies. I believe I can help to push the impact of this technology forward to expand our reach in energy and innovation in a more sustainable future.”
“As we continue to grow our position and develop our presence in the market, I’m very excited to have Gary join us with his broad global expertise,” commented Sue Ozdemir, CEO of Exro. “I’m confident his insight will help us accelerate the impact of Exro’s technology in the global marketplace.”
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.
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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