- Exro Technologies was named a Gold award winner for the 2022
Edison Best New Product Awards™ in manufacturing, logistics and
transportation.
- Coil Driver was 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.
- CEO Sue Ozdemir accepted the
award on behalf of Exro at an event in Fort Myers, Florida.
CALGARY,
AB, April 22, 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
received a Gold Edison Award for Best New Product in manufacturing,
logistics and transportation at the 2022 Edison Awards Gala in
Fort Myers, Florida. Exro CEO
Sue Ozdemir attended the ceremony
and accepted the award on behalf of the Company.
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, whose inventions, new product development methods
and innovative achievements literally 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
awarded Gold for its ability to enable intelligent electronic gear
switching in real time to expand electric vehicle (EV) performance
and increase range.
"We are incredibly proud of the impact the Edison Awards winners
continue to make in the global marketplace. It shows that no matter
what the circumstances, great minds are always striving to create
new innovations to better the world. The 2022 Edison Awards winners
are the best of the best. Congratulations to the innovation teams
behind all these amazing products and services," said Frank Bonafilia, executive director of the
Edison Awards.
Coil Driver™ is a dynamic smart controller that eliminates the
need for multiple motors across all EVs, and customizes and scales
to meet customers' unique powertrain requirements. This leads to
major cost efficiencies for electric transportation modes,
including passenger vehicles, heavy-duty trucks, buses, e-bikes,
motorcycles and more. Exro's patented Coil Driver accelerates the
transportation industry's transition away from combustion engines
by solving automakers' performance-cost trade-offs.
"On behalf of our shareholders and the entire team at Exro, it
is an honor to join such an established list of innovative
companies named as Edison Award winners," said Exro CEO
Sue Ozdemir. "At Exro, everyone
brings something unique to the table to foster a culture of
continuous innovation, but we're all motivated by a shared vision
for an electrified world where power is consumed intelligently,
equitably and with minimal resources or waste. We're glad our peers
recognize the value of Coil Driver to help get us there."
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
For more information visit our website at
www.exro.com.
To view our Corporate Presentation visit us at
www.exro.com/investors.
Visit us on social media @exrotech.
CAUTIONARY STATEMENT REGARDING
FORWARD LOOKING STATEMENTS
This news release contains forward-looking statements and
forward-looking information (together, "forward-looking
statements") within the meaning of applicable securities laws. All
statements, other than statements of historical facts, are
forward-looking statements. Generally, forward-looking statements
can be identified by the use of terminology such as "plans",
"expects", "estimates", "intends", "anticipates", "believes" or
variations of such words, or statements that certain actions,
events or results "may", "could", "would", "might", "will be
taken", "occur" or "be achieved". 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
frames or at all. Except where required by applicable law, the
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, 2021, and financial
statements and related MD&A for the financial year ended
December 31, 2021, 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.
Neither the Toronto Stock Exchange nor the Investment Industry
Regulatory Organization of Canada
accepts responsibility for the adequacy or accuracy of this press
release.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/exro-technologies-coil-driver-wins-2022-edison-award-301531158.html
SOURCE Exro Technologies Inc.