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Exro Technologies Inc
Symbol EXRO
Shares Issued 151,611,970
Close 2023-03-20 C$ 2.35
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Globe says Exro Tech charging into the auto sector

2023-03-21 07:53 ET - In the News

The Globe and Mail reports in its Tuesday edition that chief executive officer Sue Ozdemir is banking on Exro Technologies' unique technology -- which boosts the capability and efficiency of electric motors and batteries -- gaining serious traction with some of the industry's top players in 2023. The Globe's Jeffrey Jones writes that the markets Exro is targeting are among the hottest in the energy transition. Under Ms. Ozdemir's leadership, Exro has transformed itself to take advantage of the coming boom in the electrification of the economy, especially transportation. Exro estimates the size of that market at $133-billion (U.S.). With that potential in mind, Ms. Ozdemir aims to make Calgary an unlikely hub for a corner of the auto sector -- one that could serve every type of motorized vehicle, from motorcycles and ATVs to passenger cars and transport trucks. One of Exro's main products is its technological twist on the inverter, which acts almost like a combination of gearbox and turbocharger for EVs. The Coil Driver unit is added to an electric motor, increasing torque at low speeds and power and efficiency at high speeds. Exro is targeting manufacturers and top suppliers to the big auto and truck makers.

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