- Launching of the Calgary Innovation Center marks a major
milestone toward delivering commercial products with in-house
design, testing and assembly
- Test equipment will facilitate small and large prototypes for
operating applications in relevant environments to enhance electric
motors
- The Calgary facility will
become the new company headquarters and support new research and
development projects with global impact
CALGARY, AB, Oct. 20, 2020 /CNW/ - Exro Technologies Inc.
(TSXV: EXRO) (OTCQB: EXROF) (the "Company"), a leading
technology company which has developed a new class of power
electronics for electric motors and powertrains, is pleased to
announce it is opening the doors to the newly established Calgary
Innovation Center.
Launching of the Innovation Center in Calgary marks a major milestone for Exro in
its path to delivering commercial products. The new facility will
allow in-house design, testing, and assembly of manufactured
products to enhance the performance of electric motors and
powertrains. The test equipment will feature small and large test
bays that will demonstrate the patented technology in relevant
environments and accelerate prototypes in operating
applications.
This will expand the potential for more strategic partnerships
with the Coil Driver technology while also creating a platform for
proof of concepts in new research and development projects. Exro
will continue to be focused on its mission to deliver intelligent
innovations in electrification with minimum energy and maximum
results.
"We are looking forward to delivering on the vision of the new
Calgary headquarters", commented
Sue Ozdemir, Chief Executive Officer
of Exro. "Calgary has welcomed us
with open arms, and we couldn't be more excited to be here during
this transformative time. We have had explosive growth since
arriving in Calgary, and we look
forward to continuing that growth with our business and
technology."
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.
https://www.linkedin.com/company/exro-technologies-inc
https://twitter.com/exrotech
https://www.facebook.com/exrotech/
ON BEHALF OF THE BOARD OF DIRECTORS
Sue Ozdemir, Chief Executive
Officer
CONTACT INFORMATION
Canada: Jake Bouma
VP of Investor Relations
604-317-3936
United States: Vic Allgeier
TTC Group Inc.
646-841-4220
Email: info@exro.com
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING
STATEMENTS
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.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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SOURCE Exro Technologies Inc.