- Exro will launch a facility in Calgary featuring 37,000 square feet of
production lines, product showrooms, and office spaces
- The new facility will have the capability to produce up to
100,000 units per year across all the Coil Driver products with
automotive industry certifications
- Opening targeted for late Q4 2021 and automotive certified
production by the end of 2022
CALGARY, AB, March 31, 2021 /CNW/ - Exro Technologies Inc.
(TSXV: EXRO) (OTCQB: EXROF) (the "Company" or "Exro"), a
leading clean technology company which has developed a new class of
power electronics for electric motors and batteries, is pleased to
announce it is launching a facility (the "facility" or "new
facility") in Calgary with
automotive class manufacturing.
The new facility will feature 37,000 square feet of production
lines, product showrooms, and office spaces capable of producing
units for the entire Coil Driver product line. The facility will
also embrace clean energy solutions including solar power and
battery energy storage solutions with a net zero carbon emissions
objective. This will bring new clean technology jobs to
Calgary across functions like
engineering, operations, supply chain, and more.
Providing a foundation for the Company to grow over the next
three years, the capacity of the facility is being designed to
deliver up to an estimated 100,000 units per year across all the
Coil Driver products, encompassing the entire product roadmap. This
supports Exro's strategic milestones to focus on low-volume
manufacturing while still utilizing manufacturing partners and
licensing contracts for future high-volume manufacturing.
The opening of the new facility will set the stage for Exro to
execute on its strategic roadmap as a supplier to the automotive
industry. It will be outfitted to meet certifications for ISO
9001:20151, IATF 169492, and ISO
262623 compliant product development. This is a
major step forward for the Company in delivering high-quality and
reliable commercial products to the regulated consumer automotive
markets.
Functional safety and quality management system planning is
already underway and will be held to the highest regard to meet the
expectations for optimized product delivery. The doors are planning
to be opened before the end of 2021 for employees and automotive
certified production by the end of 2022.
"The launching of our new facility in Calgary is a reflection of our dedication to
execute on our deliverables," commented Sue
Ozdemir, Chief Executive Officer of Exro. "This
substantiates our cost-effective automotive market strategy and
further establishes Exro's position as a power electronics
company."
Exro's current Calgary facility
will continue to be a source for low-volume commercial products to
the less regulated mobility applications with in-house design,
testing, and assembly. It will remain the core innovation center
for research and development, design and testing, and piloting
prototypes for Coil Drivers, Battery Control Systems, and future
technologies.
|
1 ISO
9001:2015 specifies requirements for demonstrating the ability
to consistently provide products and services that meet regulatory
requirements and aims to enhance customer satisfaction.
|
|
2 IATF 16949 is
the global automotive industry standard for quality management
systems.
|
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3 ISO
26262 addresses safety-related systems that include one or
more electrical systems that are installed in series production
passenger cars.
|
About Exro Technologies Inc.
Exro is a clean technology company pioneering intelligent
control solutions in power electronics to help solve the most
challenging problems in electrification. Exro has developed a new
class of control technology that expands the capabilities of
electric motors, generators, and batteries. Exro enables the
application to achieve more with less energy consumed.
Exro's advanced motor control technology, the Coil Driver,
expands the capabilities of powertrains by enabling two separate
torque profiles within a given motor. A major advancement in the
sector, dynamic motor configuration enables efficiency optimization
for each operating mode resulting in reduction of energy
consumption. The controller automatically selects the appropriate
configuration in real time so that power and efficiency are
intelligently optimized.
For more information visit our website at www.exro.com.
LinkedIn
https://www.linkedin.com/company/exro-technologies-inc
Twitter https://twitter.com/exrotech
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ON BEHALF OF THE BOARD OF DIRECTORS
Sue Ozdemir, Chief Executive
Officer
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.