VANCOUVER, B.C. – Exro Technologies Inc. (CSE: XRO; OTCQB: EXROF) (the “Company” or “Exro”) is pleased to announce an initial order has been received from Potencia Industrial for the Motor Driver (MD) controllers. The Motor Driver controller connects the battery to the electric motor and enables the motor to run more efficiently with high reliability and safety features. The Motor Driver is designed for independent integration as well as being one of five modular units that comprise the overall Intelligent Energy Management System (IEMS) that was announced on June 12, 2019 (News Release)
Exro will begin initial validation and testing at Potencia´s facilities in Mexico City. Exro is forecasting delivery of the first units in Q4 of 2019 and once testing is completed, integration is planned on several Potencia motor models with various applications.
“The Motor Driver will enable Potencia Motors to achieve maximum efficiency with a design customized for the application. We have confidence in the Technology and look forward to commercializing this product once it has completed testing and meets our market performance targets. “said Roberto Gottfried General Manager at Potencia.
Exro’s IEMS contains five modular units:
“This is an exciting milestone for Exro as we launch the first phase of the IEMS technology” said Mark Godsy CEO of Exro Technologies “Our CTO, Ari Berger and his team are now able to showcase the technology they have developed which aims to deliver cost benefits and improved performance.”
Delivery of the remaining four components which make up the full IEMS technology will enable full system testing and is expected by the end of the year.
About Exro Technologies Inc.
Exro facilitates the transition to clean energy by providing products and services to manufacturers to increase the efficiency and reliability of power systems, including electric motors, generators and batteries. Exro's patented technology enhances energy systems by dynamically sensing and adapting variable inputs and optimally matching them to desired outputs, creating measurable performance gains and extended lifespan. The widespread applications of the technology apply to optimizing the performance of electric vehicles, UAVs, and ship drives, as well as pumps, industrial motors, and energy capture from wind and tides.
For more information visit our website at www.exro.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Mark Godsy, Director & CEO
INVESTOR CONTACT INFORMATION: firstname.lastname@example.org
Forward Looking Statements
Certain statements contained in this News Release constitute forward-looking statements. When used in this document, the words “believe”, "may", "would", "could", "will" and similar expressions, as they relate to the Company or its management are intended to identify forward-looking statements. More particularly and without limitation, this news release contains forward-looking statements and information concerning the Company’s intention to commercialize its product in the near term. Such statements reflect the Company's current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the Company's actual performance or achievements to vary from those described herein. Should one or more of these factors or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Company does not assume any obligation to update these forward-looking statements, except as required by law.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE
You can view the Next News Releases item: August 21, 2019, Sue Ozdemir Joins Exro as its New Chief Executive Officer
You can view the Previous News Releases item: June 12, 2019, Exro Develops Complete Electric Motor and Battery System Solution
You can return to the main News Releases page, or press the Back button on your browser.