Exro Technologis Stock Price, News & Analysis

Exro Technologies has received final approval to list its common shares on the Toronto Stock Exchange (TSX) under the symbol EXRO, starting July 8, 2021. This transition follows a successful 10 months of trading on the TSX Venture Exchange. CEO Sue Ozdemir emphasized the achievement as a testament to the company’s progress and strong leadership, aiming to broaden its global investor base and align with ESG-focused investors. Concurrently, Exro's shares will be delisted from the TSX Venture Exchange.

Exro Technologies Inc. (TSXV: EXRO) (OTCQB: EXROF) has announced its upcoming Annual General Meeting (AGM) set for 11:00 am Pacific time on July 9, 2021. Shareholders are reminded to submit proxies by 11:00 am Pacific time on July 7, 2021. A key agenda item includes the approval of a new class of preferred shares, which will have restrictions preventing the issuance of preferred shares convertible into common shares representing 50% or more of the outstanding common shares. Further details can be found in the management information circular dated June 7, 2021.

Exro Technologies has received conditional approval to list its shares on the Toronto Stock Exchange (TSX) under the symbol EXRO. This milestone reflects the company's progress in clean technology and electric vehicle power electronics. The final approval depends on meeting TSX's customary conditions, with trading expected by the end of July. Exro's CEO, Sue Ozdemir, highlighted the company's advancements in the past year and their commitment to expanding technology engagement with stakeholders.

Exro Technologies has entered a strategic development agreement with Linamar to create an advanced eAxle utilizing Coil Driver™ technology, aimed at enhancing cost and performance in electric vehicles. This collaboration seeks to bridge the gap in affordability and performance for electric vehicles, facilitating mass adoption. Prototype testing is set for Q2 2022, with plans to commercialize the eAxle post-validation. Linamar, a leader in automotive parts manufacturing, will integrate critical elements for testing, leveraging its extensive experience in the sector.

Exro Technologies has successfully piloted its Battery Control System (BCS) in a 25kW 150kWh Energy Storage System, optimizing second life battery applications. The BCS demonstrated effective cell balancing with aftermarket batteries, paving the way for future validation in a larger 250kW 1.5MWh system by the end of 2021. Exro anticipates launching its commercial Energy Storage System powered by BCS in 2022. This development aims to enhance battery efficiency and longevity, positioning Exro as a competitive player in the clean technology sector.

Exro Technologies Inc. (OTCQB: EXROF) reported a comprehensive loss of $6,676,520 for Q1 2021, up from $1,525,182 in Q1 2020. The Company signed a non-binding letter of intent with LAND for up to 2,000 units of the Coil Driverᵀᴹ. A strategic investment of $5 million was made in SEA Electric to accelerate the Battery Control System development. Exro secured a 36,966 square foot facility in Calgary, targeting production compliance by late 2022. Cash as of March 31, 2021, stood at $39,174,239, with accounts payable at $1,925,152.

Exro Technologies (OTC: EXROF) shared its annual shareholder letter, highlighting significant advancements in its electric mobility technology and strategic plans. The company has raised approximately $57 million CAD, expanded its workforce to over 30 employees, and opened an Innovation Centre in Calgary. Key products include the Coil Driver and Battery Control System, aimed at enhancing power electronics for electric motors and batteries. Exro is set to pursue new partnerships and aims for a potential up-list to the Toronto Stock Exchange.

Exro Technologies Inc. (EXROF) reported a comprehensive loss of Cdn $10,969,454 for 2020, compared to Cdn $4,665,031 in 2019. The company's general and administration expenses rose to Cdn $2,991,963, while payroll and consulting fees increased to Cdn $3,031,863. Despite these losses, Exro closed two public offerings totaling Cdn $49,974,998, strengthening its balance sheet with cash reserves of Cdn $48,298,894. Key advancements included the engineering validation of the 100 Volt Coil Driver and the opening of the Calgary Innovation Center, projecting optimism for future commercialization efforts.

Exro Technologies announced plans to launch a 37,000 square foot facility in Calgary, capable of producing up to 100,000 Coil Driver units annually. The facility aims for automotive industry certifications and is expected to open in late Q4 2021, with production certification by the end of 2022. This expansion will create clean technology jobs in Calgary and supports Exro's strategic goals in low-volume manufacturing, enhancing its position in the automotive market.