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Exro Technologies Inc
Symbol XRO
Shares Issued 63,003,634
Close 2019-09-17 C$ 0.24
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Exro receives $500,000 (U.S.) motor driver order

2019-09-18 09:23 ET - News Release

Mr. Ari Berger reports


Exro Technologies Inc. has received its first production order for motor drivers from Potencia Industrial SA de CV. This approximately $500,000 (U.S.) purchase order is a result of successful testing that was achieved from the initial order announced on June 19, 2019 (see 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 (see 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, chief technology officer 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, chief executive officer 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.

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