Exro Technologies (TSX: EXRO) (OTCQB: EXROF), a leading clean-technology company that develops new-generation, power-control electronics that expand the capabilities of electric motors and batteries, has released a Q1 2024 letter to its shareholders. The letter notes Exro’s exceptional operational performance in 2023 and outlines key focus areas and milestones for this year. In the letter, CEO Sue Ozdemir recapped highlights of last year, including starting production in the company’s world-class manufacturing facility. She also noted this year’s focus for Exro: transformative collaborations. With that backdrop, the letter outlined key areas that the company will be working on throughout the year, including its leading global automotive OEM passenger-vehicle innovation project, which has progressed to the first passenger vehicle prototype; real-world validation with technology partner SEA Electric, which has successfully progressed its rigorous track testing and on-road validation requirements for its Coil Driver(TM) system in a UPS-style F59 delivery van equipped with SEA’s patented SEA-Drive power system; the Linamar e-beam axle program, which has shown consistent progress since inception; its NDA partnerships with large multinational companies; Cell Driver(TM) energy storage and UL certification; and Coil Driver(TM)deployments, which include initial orders already being received and deliveries begun following on-road validations.
Odemir noted that Exro continues to follow its capital markets strategy to ensure adequate funding and, with moving Coil Driver and Cell Driver technologies from R&D through to production, the company is looking to “lean out costs” this year. “This year’s success will be underlined by noteworthy commercial partnerships — advancing those already public and bringing new partnerships into our ecosystem,” said Exro Technologies CEO Sue Ozdemir in the shareholder letter. “These impactful relationships stand as third-party endorsements to our innovations and precisely embody our vision for the diverse applications of our technology, showcasing the potential of our Coil Driver and Cell Driver in real-world scenarios. . . . Our foundation is strong, we have proven resiliency in turbulence and have invested in the processes in our organization that will allow us to have a rewarding 2024.”
To view the full letter, https://ibn.fm/AkEow
About Exro Technologies Inc.
Exro Technologies is a leading clean-technology company that has developed new-generation power control electronics that change how the world optimizes energy by expanding the capabilities of electric motors and batteries. The company’s innovative technologies serve to bridge the performance-cost gap in e-mobility (Coil Driver) and stationary energy storage (Cell Driver), and act to accelerate adoption toward a circular electrified economy by delivering more with less – minimum energy for maximum results. 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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