- Stock options allow select individuals to purchase shares pursuant to company’s stock-option plan
- Exro has developed, commercialized electric power module that integrates into existing motor systems resulting in better performance
- Possibilities for use of Exro’s unique technology, efficiency optimization algorithms are widespread
Exro Technologies Inc. (CSE: XRO) (OTCQB: EXROF), an innovative pioneer in the energy sector, announced that it has granted incentive stock options to specific directors, officers, employees and consultants (http://ibn.fm/XPiQJ).
The announced stock options allow select individuals to purchase an aggregate of 735,000 shares in the capital of Exro at a price of $0.375 per share, pursuant to the terms of its stock-option plan. All options are subject to vesting provisions, and any shares issued upon exercise of an option will be subject to a hold period of four months and one day from the date of grant.
The stock options were announced after Exro closed the second and final tranche of its oversubscribed, non-brokered private placement financing in February. The company raised more than $4 million through the issuance of 12,284,545 common shares (http://ibn.fm/LeH6A).
Recognized for its innovation, Exro has developed and commercialized an electric power module (EPM) that integrates into existing motor systems resulting in better performance. Exro’s patented technology optimizes a motor performance by automatically sensing and adapting operating parameters to an optimized state and creating measurable efficiency gains, reduced mechanical components and increased system availability.
Exro’s proprietary, patented software controls electric motor coils through individual coil switching. This introduction of intelligence into energy conversion at the individual-coil level produces expanded speed/torque capability as well as improved machine efficiency, reliability, safety and maintenance. Exro’s advanced-control algorithms create smart, real-time, optimized power management.
The possibilities for use of Exro’s unique technology and efficiency optimization algorithms are widespread. The company is evaluating potential use in optimizing performance of electric vehicles, locomotive traction applications, industrial motors and UAVs, as well as industrial motors and energy capture from wind and tides.
Currently, electric motors are the single biggest consumer of electricity – accounting for an estimated two-thirds of industrial power consumption and approximately 45% of global power consumption, according to an analysis by the International Energy Agency. With Exro’s technology, industries have new options available as they evaluate how to improve energy consumption.
Exro currently holds 15 patents, with 8 patents pending and additional patents under development. The company focuses on facilitating the transition to clean energy by providing manufacturers with the products and services necessary 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 company continues to expand its IP portfolio to support its goal of becoming a globally recognized leader in leveraging advanced control algorithms to improve the performance, efficiency and longevity of electric motors and generators.
For more information, visit the company’s website at 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
