(via TheNewswire)
June 5, 2019 / TheNewswire / VANCOUVER, B.C. - Exro Technologies Inc. (CSE:XRO; OTCQB: EXROF) (the "Company") is pleased to report on recent business activities involving its Dynamic Power Management Technology (DPM). On February 14, 2019 Exro announced (News Release) the third-party validation of its first Electric Gearbox. Subsequently, further work has now been completed moving the technology from "proof of concept" to definitive product offerings. Exro has developed two distinct product lines for DPM applications - one addressing motor integration and the other generator integration.
The "electric gearbox" or "coil switching" concept will now be named Electronic Transmission Replacement Technology (ETR) as it will allow the power train transmission (gearbox) to be eliminated in many applications. ETR's unique approach of enabled electronic circuit boards and software can replace mechanical solutions to improve both torque and speed. This innovative technology provides a system solution for any variable speed motor applications in which torque or speed constrain the desired performance. The practical deployment of this technology, along with Exro's proprietary intelligent control systems, will enable electric motors to increase their operating capabilities, with minor modifications to the motor. The technology also improves the electrical efficiency of the motor at various operating states.
"Having created an innovative approach to how energy is managed with motors and generators, we are now working on real product lines that address significant market needs and wants." said Jonathan Ritchey, Exro's Founder and Chief Scientist "By collaborating with our partners, we are able to design optimal systems to fit their specific requirements." Exro is working with several strategic partners at this time, with the aim of signing definitive agreements which will lead to commercialization.
The second application for DPM is with generators. Initial work is underway to adapt the technology to industrial generator applications and have specific sectors identified for "proof of concept" work and viability within industrial applications. This would lead to a new Exro product line that can be co-developed with a strategic partner. Initial discussions have been initiated for these efforts.
"I believe that our total system solution approach along with the flexibility to adapt to specific customer needs will significantly expand our product portfolio and our customer base." said Mark Godsy, CEO of Exro Technologies.
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.
For more information visit our website at www.exro.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Mark Godsy, Director & CEO
INVESTOR CONTACT INFORMATION: info@exro.com
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.
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