VANCOUVER, BC (January 15, 2020) — Exro Technologies Inc. (CSE: XRO; OTCQB: EXROF) (the “Company” or “Exro”) is pleased to announce it is opening an innovation center in Calgary, Alberta, to demonstrate how Exro dramatically improves the performance of the world’s electric motors.
The Exro Innovation Center (EIC) will also increase the Company’s laboratory space, to expand its service capabilities to customers and showcase where Exro’s technology can be applied to key sectors of the economy that rely on electric motors.
“Expanding our labs and showcasing how Exro works is an important step as we adapt our technology for further commercialization,” said Exro CEO Sue Ozdemir. “The world needs to make optimum use of our energy, and we are delighted to open this innovation center in Canada’s energy hub to share how Exro dramatically improves the performance of electric motors.”
The 6,500-sq-ft Calgary facility is currently being retrofitted and is scheduled to open spring of 2020. The EIC will also host collaborative events to explore advances in energy consumption and electric motor innovations, with participants from Calgary, across Canada and around the world.
Ozdemir was appointed Exro’s CEO in September 2019, after serving as CEO of GE’s Small Industrial Motors Division, which under her leadership was successfully sold to China’s Wolong Electric, one of China’s largest motor manufacturers.
Ozdemir’s primary initiative at Exro is to commercialize the patented Exro system to optimize electric motors in global sectors such as transportation, agriculture, heavy industry, energy, construction, recreational vehicles, and others.
ON BEHALF OF THE BOARD OF DIRECTORS
Sue Ozdemir, Chief Executive Officer
Canada: Jake Bouma
Intrynsyc Capital Corp.
United States: Vic Allgeier
TTC Group Inc.
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.
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.
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