Exro Announces Coil Driver™ Innovation Project with Leading Global Automotive OEM

Exro and a Major Automaker to collaborate in innovation project utilizing Coil Driver™ technology for improving powertrain performance.

• A world leading global automotive OEM has engaged Exro in a collaboration to explore the latest advancements in power electronics technology to deliver higher continuous power and torque output compared to conventional systems.

CALGARY, AB, July 13, 2023 /PRNewswire/ - Exro Technologies Inc. (TSX: EXRO) (OTCQB: EXROF) (the "Company" or "Exro"), a leading clean-technology company that develops new generation power-control electronics that expand the capabilities of electric motors and batteries, is pleased to announce an innovation agreement with a Major Automaker, to mutually explore powertrain innovations in the Company's electric passenger vehicles utilizing Exro's advanced power electronics technology.

The purpose of the collaboration is to determine the performance of Exro's Coil Driver™ product for improving the continuous power and torque output of the powertrain in the OEM's vehicles. Under the terms of the agreement, the Parties will work together to design a proof-of-concept Coil Driver™ plus motor system that would specifically fit into a defined electric machine housing. The proposed Coil Driver™ product will utilize the latest advancements in power electronics technology, paired with an optimized machine design, to deliver higher continuous power and torque output compared to conventional 3 phase inverters.

Under the agreement, the Parties anticipate completion of the proof-of-concept Coil Driver™ plus optimized motor design system by the end of Q4 2023, followed by delivery of functional prototypes to the OEM by the end of Q4 2024. The prototypes are then expected to enter a period of testing, including performance, durability, and reliability while determining next steps. Signing the agreement does not constitute any exclusivity to either of the Parties. 

For additional information on Exro's Coil Driver™ technology access the catalog here: Exro Coil Driver Catalogue.

Please join Exro leadership today at 11:00 am ET for a Quarterly Deep Dive where the company will speak to ongoing corporate activities. To attend please register here: Live Stream Registration.

Exro Technologies Inc. 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 towards a circular electrified economy by delivering more with less – minimum energy for maximum results. 

For more information visit our website at www.exro.com.

To view our Corporate Presentation visit us at www.exro.com/investors

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SOURCE Exro Technologies Inc.