Exro Technologis Stock Price, News & Analysis

Exro Technologies has filed a final short form base shelf prospectus with Canadian regulatory authorities, allowing potential offerings of up to C$200,000,000 in securities over the next 25 months. This filing aims to provide the company with flexibility to capitalize on favorable market conditions. Following a preliminary prospectus announced on November 18, 2021, the final document has received regulatory receipt. Exro's innovative clean technology focuses on power electronics for electric motors and batteries, enhancing energy efficiency.

Exro Technologies has entered into a development partnership with ev Transportation Services to repurpose batteries from evTS' FireFly ESV for second-life energy storage applications. This pilot project aims to extend battery life by 5-10 years using Exro's Energy Storage System, which features its patented Battery Control System technology. The initiative supports sustainability by reducing battery waste and enhancing energy efficiency. Exro also plans to optimize first-life battery use for FireFly ESV, showcasing its innovative technology in the electric vehicle sector.

Exro Technologies has officially opened its 37,000 square foot manufacturing facility in Calgary, Alberta, designed for automotive-grade production. This facility can produce up to 100,000 Coil Driver units annually, supporting various electric mobility applications. The opening follows Exro's recent expansions, including a U.S. headquarters. The facility will operate under strict quality standards and utilize clean energy solutions, including a solar array. Exro aims to enhance production capabilities while contributing to local job creation and sustainable practices.

Exro Technologies will exhibit at CES in Las Vegas from January 5-8, 2022, showcasing its innovative technologies, including the Coil Driver and Energy Storage System (ESS). The company will present three electric vehicle demonstrators optimized with its technology, highlighting improvements in performance and versatility. Exro aims to connect with key industry stakeholders and demonstrate how its solutions can enhance electric mobility. Partners like Linamar will also showcase their next-generation eAxle utilizing Exro's Coil Driver technology, emphasizing collaboration in advancing electric vehicle infrastructure.

Exro Technologies (EXROF) announced a partnership update with LAND Electric Motorcycles on Dec. 2, 2021. The companies will transition from a 48V Coil Driver to a 72V Coil Driver for the LAND District motorcycle to enhance powertrain capabilities. This shift requires extended timelines, targeting completion by the end of Q3 2022. Preliminary test results are promising, and Exro's technology aims to optimize energy efficiency in the lightweight electric motorcycle market. Both companies emphasize their commitment to commercializing this advanced powertrain technology.

Exro Technologies announced that its employees have moved into the new U.S. headquarters located in Mesa, Arizona. This 15,000 square foot facility will enhance the company’s Coil Driver testing capacity and develop Energy Storage Systems. The facility, expected to fully open in the second quarter of 2022, is key to Exro's expansion plans and will create approximately 50 new jobs. This move follows Exro's application for a Nasdaq listing, indicating its strategy to strengthen its market presence and shareholder base.

Exro Technologies has filed a preliminary and final short form base shelf prospectus with Canadian securities regulators, allowing for offering up to C$200 million in various securities over 25 months. This strategic move aims to provide Exro with flexibility to pursue financing opportunities as market conditions become favorable. The prospectus will include securities such as shares, debt instruments, and units, with specifics to be outlined in future supplements. The company's innovative power electronics technologies are positioned to enhance energy efficiency in electric mobility.

Exro Technologies has integrated its 100 Volt Coil Driver™ into a second electric vehicle with a new NDA partner focusing on compact cars for the European market. Following a previous integration with Potencia, the new vehicle is currently in closed circuit testing to validate performance. This integration emphasizes Exro's technology's versatility and market potential as it aims to optimize electric vehicle powertrains with enhanced torque and efficiency. CEO Sue Ozedmir highlighted a robust pipeline of projects involving NDA partners, signaling ongoing growth in the electric mobility sector.

Exro Technologies announces the passing of Eamonn Percy, a respected Board member since 2017. Known for his business acumen and focus on shareholder value, Eamonn's contributions greatly benefited Exro's growth and strategy in the cleantech sector. CEO Sue Ozdemir expressed deep condolences, highlighting Eamonn's impact as not only a board member but also a friend and colleague. The Exro community extends support to Eamonn's family during this challenging time.