- Coil Driver chosen as a finalist in 2022 Edison Best New
Product Awards™ for Manufacturing, logistics and
transportation.
- Coil Driver is recognized by 3,000 world-leading business
executives, academics, and innovation professionals for its ability
to deliver more power, speed, and torque from a single electric
motor.
- Award winners will be announced on April
21, 2022, in Fort Myers,
Florida.
CALGARY, AB, Feb. 10, 2022 /CNW/ – Exro Technologies Inc.
(TSX: EXRO) (OTCQB: EXROF) (the "Company" or "Exro"), a leading
clean technology company that has developed a new class of power
electronics for electric motors and batteries, announced today that
its Coil Driver™ technology was named a finalist for the 2022
Edison Best New Product Awards in the automotive technology
category. Gold, silver, and bronze winners will be announced at the
2022 Edison Awards Gala in Fort Myers,
Florida. Exro looks forward to joining senior executives
from the industry to recognize the accomplishments of all 2022
Edison Award winners on April 21,
2022.
Recognition by the Edison Awards is one of the highest accolades
a company can receive in the name of innovation and business. The
awards are named for Thomas Alva
Edison (1847-1931), whose inventions, new product
development methods and innovative achievements changed the world,
garnered him more than 1,000 U.S. patents, and made him a global
household name. In this spirit, Exro's patented Coil Driver
technology was named a finalist for its ability to enable
intelligent, electronic motor switching in real-time to expand
electric vehicle ("EV") performance and increase range.
Coil Driver utilizes coil switching to optimize an electric
motor's performance on-demand, and get more out of a vehicle's
motor and battery. Combining two different formats of power
electronics that were traditionally separate drives, Coil Driver
enables any electric vehicle – scaling from e-bikes to heavy-duty
commercial vehicles – to achieve better acceleration, gradeability,
and high-speed torque, while reducing the number of power
electronics in the vehicle.
"We're honored to be named a finalist for this year's Edison
Best New Product Awards in recognition of the flexibility and
versatility that Coil Driver lends to electric motor designs," said
Exro CEO Sue Ozdemir. "Instead of
taking a one-size-fits-all approach to electric vehicle
manufacturing, our innovative Coil Driver technology can be scaled
up or down, using our own motor design, or integrating with others.
Our ability to do all this, while enhancing EV performance and
reducing costs sweetens the deal for our partners."
Nominees for the Edison Awards were judged by a panel of more
than 3,000 leading business executives including past award
winners, academics, and leaders in the fields of product
development, design, engineering, science, and medicine.
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
DriverTM, expands the capabilities of electric
powertrains by enabling intelligent optimization for efficient
energy consumption. Exro is working with many partners from all
over the world to bring their technology to the electric mobility
industries and beyond.
For more information visit our website at www.exro.com.
Visit us on social media @exrotech.
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STATEMENTS
This news release contains forward-looking
statements and forward-looking information (together,
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historical facts, are forward-looking statements. Generally,
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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
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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.
This information is qualified in its entirety by cautionary
statements and risk factor disclosure contained in filings made by
the Company with the Canadian securities regulators, including the
Company's annual information form for the financial year ended
December 31, 2020, and financial
statements and related MD&A for the financial year ended
December 31, 2020, filed with the
securities regulatory authorities in certain provinces of
Canada and available at
www.sedar.com. Should one or more of these risks or uncertainties
materialize, or should assumptions underlying the forward-looking
information prove incorrect, actual results may vary materially
from those described herein as intended, planned, anticipated,
believed, estimated or expected. Although the Company has attempted
to identify important risks, uncertainties and factors which could
cause actual results to differ materially, there may be others that
cause results not to be as anticipated, estimated or intended. The
Company does not intend, and does not assume any obligation, to
update this forward-looking information except as otherwise
required by applicable law.
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Regulatory Organization of Canada
accepts responsibility for the adequacy or accuracy of this press
release.
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SOURCE Exro Technologies Inc.