CALGARY, Alberta (April 22, 2022) — 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.