- Company has seen amazing four months of achievements commercializing its breakthrough technology
- XRO technology dramatically enhances performance of electric motors in boats, other watercraft
- Agreement takes Exro technology overseas, forms key partnership with one of transportation sector’s innovators in electric powertrain use
Two significant deals and an e-bike delivery have, in part, fueled an almost 50% stock increase for Exro Technologies Inc. (CSE: XRO) (OTCQB: EXROF), a Canadian-based technology pioneer developing an intelligent energy-management system to dramatically improve the performance of electric motors and power trains. The company’s impressive performance has not gone unnoticed.
“Exro has had an amazing past 4 months of achievements commercializing its breakthrough technology into three electric vehicle areas: eBoats, eBikes, and eSnowmobiles,” wrote tech analyst Matthew Bohlsen in an Investor Intel article. The article, titled ‘Exro stock climbs 50% in the past 4 months as they commercialize their EV-related technology’, went on to note that “it would seem highly likely that eCars, eBuses, and eTrucks will soon follow.”
The article spotlighted three of Exro’s recent significant accomplishments: a partnership with the Templar Marine Group, a strategic agreement with electric snowmobile maker Aurora Powertrains Oy and the delivery of the first Exro-powered eBike to Motorino Electric.
The partnership with Templar is designed to optimize the performance of electrical engines in the multi-billion-dollar eBoat market (http://ibn.fm/aIRD4). “We believe Exro’s technology will dramatically enhance the performance of electric motors in boats and other watercraft,” said Exro CEO Sue Ozdemir. “The e-Boat sector is clearly growing as people look for solutions that are sustainable and also meet regulatory requirements preventing the pollution of our lakes, rivers and oceans.”
As a pilot project, Templar will integrate Exro’s system into Templar Marine’s water taxis as a pilot project, where the company expects to see a significant increase in motor performance for both the boat’s top speed, as well as improving range through increased system efficiency. Exro’s validated technology has already proven it can increase motor speed by more than 30%, which Templar Marine believes will be a major breakthrough in the eBoat sector.
The agreement with Finland’s Aurora will focus on increasing motor performance while decreasing future production costs for future production (http://ibn.fm/mxV9a). “We are very excited to now be entering the snowmobile industry, which sees more than one billion dollars of global sales annually,” said Ozdemir about this partnership. “This is also important as it takes Exro’s technology overseas to Europe and forms a key partnership with one of the transportation sector’s true innovators in the use of electric powertrains.”
The Aurora partnership involves adding Exro’s technology to the Aurora electric powertrain, a further move to global commercialization of Exro technology.
The delivery of the first Exro-powered e-Bike to Motorino Electric “should be of major interest to the electric vehicle industry, which is clearly becoming vital to our global transportation networks,” Ozdemir noted (http://ibn.fm/LvVYb). “In fact, it should be of interest to anyone who uses electric motors.”
These achievements mark significant milestones on Exro’s journey to success – milestones that are contributing to the company’s solid stock performance. “It looks like Exro Technologies has some huge opportunities ahead in 2020 to commercialize its unique technology into the electric auto industry,” Bohlsen concluded.
Exro is a company at the forefront of technology, which enables the transition to clean energy, creating measurable performance gains at the same time. As a company with exclusive technology that brings lucrative benefits in multiple industries – automotive, public transportation, agriculture, wind energy, recreational and last-mile vehicles – Exro is an attractive opportunity for investors seeking to leverage groundbreaking technology applied in a high growth market.
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