- Innovative energy-management system producer announces deal with agricultural technology pioneer Clean Seed to expand technology to new industries, markets
- XRO’s technology improves speed, torque and efficiency of electric motors
- XRO is entering commercialization phase; targeting at least eight commercial deals for 2020.
Exro Technologies Inc. (CSE: XRO) (OTCQB: EXROF), a Canadian-based technology pioneer developing an innovative energy-management system, has recently signed a collaboration and supply agreement with Clean Seed Capital Group Ltd. Under the agreement, Exro’s solution will be integrated into Clean Seed’s high-tech agricultural seeder and planter platforms, putting this innovative agricultural equipment manufacturer at the forefront of sustainable agricultural innovation. The integration of Exro’s groundbreaking technology will improve Clean Seed’s SMART Seeder(TM) performance by reducing the power requirements to operate its innovative tools.
“This is another step in the commercialization of Exro’s technology that will expand the capabilities of the world’s electric motors,” Exro CEO Sue Ozdemir stated in a news release announcing the landmark deal (http://ibn.fm/KMEkD). “Clean Seed is a pioneer in improving the efficacy and sustainability of farming. With this new agreement, we will, together, electrify the industry to maximize its potential, driving better productivity and efficient use of energy.”
XRO has developed, patented and implemented its proprietary technology, which converts energy in novel ways to improve the performance of electric motors and generators. The technology enhances electric motor performance to make electric motors smarter with an advanced control algorithm that controls electric motor coils through individual coil switching. There is an enormous demand for Exro’s technology with a massive total addressable market comprising more than one billion cars (http://ibn.fm/170Ub) and hundreds of millions of elevators, diesel generator sets and industrial motors.
Exro’s emphasis for 2020 is progress in the commercialization of its exclusive technology. The new partnership with Clean Seed Capital Group is a major step in that direction, as its unique solutions open up a new realm of opportunities for the agricultural sector.
An innovative agricultural technology pioneer since 2010, Clean Seed is well positioned to introduce XRO’s revolutionary solutions. With the help of XRO’s unrivaled technology, Clean Seed is set out to electrify the agricultural industry, inspiring it to leverage the benefits of sustainable energy while increasing profitability through the reduction of input costs of the farming process.
“We continuously evaluate synergistic opportunities that would align with and drive Clean Seed’s mission of facilitating progress in agriculture through the design, development and implementation of industry-altering technologies rooted in a sustainable foundation,” added Clean Seed CEO Graeme Lempriere, as he announced the collaboration. “This worldwide exclusive collaboration and supply agreement focused on the AG sector will set new benchmarks in the electrification of agriculture.”
This agreement represents Exro’s fifth commercialization deal, partnering the company’s technology with respected names in the agriculture, automotive, marine, electric-bicycle and recreational markets. With at least eight targeted deals, Exro will continue to move ahead with the commercialization of its revolutionary technology during 2020, attracting a lot of attention from the industry and investors alike as its solutions that provide lucrative benefits in multiple industries – automotive, public transportation, agriculture, wind energy, recreational and last-mile vehicles (http://ibn.fm/pQ3bh).
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