Exro Technologies (TSX.V: EXRO) (OTCQB: EXROF), a leading clean-technology company that has developed a new class of power electronics for electric motors and batteries, unveiled plans for a new Calgary-based facility that will have the capability to produce up to 100,000 Coil Driver products with automotive industry certifications annually. Scheduled to open late Q4 2021, the 37,000-square-foot structure will include production lines, product showrooms and office spaces and is slated to obtain automotive certified production by the end of 2022. The facility will use solar power and battery energy storage solutions with a net zero carbon emissions objective. This key announcement aligns with Exro’s strategy of focusing ion low-volume manufacturing while still utilizing manufacturing partners and licensing contracts for future high-volume manufacturing. The facility also represents a significant step in the company’s stated objective of delivering high-quality and reliable commercial products to the regulated consumer automotive markets. “The launching of our new facility in Calgary is a reflection of our dedication to execute on our deliverables,” said Exro CEO Sue Ozdemir in the press release. “This substantiates our cost-effective automotive market strategy and further establishes Exro’s position as a power electronics company.”
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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 about the company, please visit www.Exro.com.
NOTE TO INVESTORS: The latest news and updates relating to EXROF are available in the company’s newsroom at http://ibn.fm/EXROF
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