Exro Technologis Stock Price, News & Analysis

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.

Exro Technologies (TSX: EXRO) reported significant developments for the quarter ending September 30, 2021. R&D surged six-fold, driven by commercialization efforts for its Coil Driver™ technology, aimed at reducing electric vehicle infrastructure costs. The company opened a US headquarters in Mesa, Arizona, and submitted an application for Nasdaq listing. Financially, Exro experienced a comprehensive loss of $7.6 million for Q3 2021, compared to $3 million in Q3 2020, with increased expenses in R&D and administration. Cash reserves stood at $28.1 million as of September 30, 2021.

Exro Technologies has applied for a listing on the Nasdaq to enhance its global presence and visibility. This strategic move, announced on Nov. 8, 2021, aims to attract a diverse shareholder base and strengthen long-term value. The company will continue trading on the OTCQB under the symbol 'EXROF' until the listing is approved. This initiative follows Exro's establishment of a U.S. headquarters in Mesa, Arizona, focusing on next-generation power electronics. The approval process includes meeting various regulatory requirements from the U.S. Securities and Exchange Commission.

Exro Technologies has launched a new services arm, Exro Vehicle Systems, offering end-to-end electric vehicle (EV) design and engineering services to automakers. This initiative aims to integrate Exro's technology at early vehicle development stages. The division will be led by Brian Van Batavia, former Bollinger Motors Technical Director. Exro plans to establish a facility in Detroit in 2022, targeting automakers with aggressive electrification goals. The new division is expected to enhance Exro's offerings and create revenue opportunities through its advanced powertrain technologies.

Exro Technologies (EXROF) hosted its inaugural quarterly webcast on October 7, 2021, led by CEO Sue Ozdemir, updating shareholders on significant achievements. Key highlights include the successful installation of the Coil Driver with Potencia Industrial, marking the first vehicle integration. The company is making strides in securing equipment to address electric vehicle industry delays. Collaborations with Zero Motorcycles are progressing, demonstrating the Coil Driver's effectiveness. The company anticipates completing its Canadian manufacturing facility by next year, aiming for enhanced electric mobility performance.