Exro Technologis Stock Price, News & Analysis

Exro Technologies Inc. has granted stock options totaling 2,618,000 shares at a price of $3.15 per share to its directors, officers, employees, and consultants. The options are set to expire in five years and are subject to vesting provisions, with a hold period of four months and one day upon exercise. This move emphasizes Exro's commitment to incentivize its team while leveraging its advanced motor control technology to enhance electric powertrains' efficiency.

Exro Technologies Inc. (TSXV:EXRO)(OTCQB:EXROF) announced that its patented Coil Driver technology significantly enhances electric bike performance, achieving over a 20% increase and up to 50% in climbing conditions. Tested by Motorino Electric, the results are poised to transform the electric bike and micro-mobility markets, projected to exceed USD $23 billion by 2025. Exro aims to start commercial negotiations for 2021, emphasizing advancements in efficiency and energy use across micro-mobility applications.

Exro Technologies welcomes Julie Wurmlinger to its Board of Directors, adding significant automotive expertise. A retired Global Chief Engineer from Ford and President of OhmTek, LLC, Wurmlinger brings over 30 years of experience in powertrain innovation. Her focus will be on accelerating Exro's technology commercialization across global sectors. Wurmlinger has a strong background in product development and has received accolades for her engineering contributions. This leadership addition is regarded as crucial for advancing Exro's objectives in the clean tech industry.

Exro Technologies Inc. is collaborating with Heinzmann GMBH to integrate its patented Coil Drive technology into micro-mobility applications. This partnership aims to enhance performance in electric drives, which are essential as the micro-mobility market is projected to reach USD $19B by 2025, growing at a CAGR of 8.23%. The Coil Driver will improve speed and torque output for Heinzmann's products, making them more efficient. This collaboration signifies a strategic move for Exro, expanding its influence in the electric mobility sector.

Exro Technologies announced participation in the Gravitas Clean Technology Investor Day on September 24, 2020. CEO Sue Ozdemir will present at 10:45 AM PST and answer investor questions. The company aims to deliver a proof of concept for its 100V Coil Driver by Q4 2020. This event will gather leaders in clean technology and attract both institutional and retail investors. Exro's innovative technology enhances electric powertrains and optimizes efficiency.

Exro Technologies has announced its successful uplisting to the TSX Venture Exchange, with trading under the symbol EXRO starting on September 22, 2020. This uplisting aims to enhance visibility and value within the investment community. CEO Sue Ozdemir highlighted the company’s leadership in advanced power electronics and its strong financial position, attributing its growth to the successful commercialization of its Coil Driver technology, which optimizes electric motor performance. This milestone is expected to benefit stakeholders as Exro expands its market presence.

Exro Technologies Inc. (CSE:XRO)(OTCQB:EXROF) CEO Sue Ozdemir reflects on the company's progress over the past year. Exro boasts a strong financial position, bolstered by an $8M raise in July. The company is on track to finalize eight commercial partnerships, with seven already secured. Key milestones include the delivery of a 100V Coil Driver proof of concept for electric vehicles in early Q4 2020. Exro's innovative technologies aim to reshape energy consumption, promising a sustainable future in power electronics within the mobility sector.

Exro Technologies (CSE:XRO)(OTCQB:EXROF) has granted stock options to acquire 1,692,000 shares at $1.00 per share. This grant is aimed at officers, employees, and consultants, with all options subject to vesting provisions and a four-month hold period post-grant. Exro is focused on clean technology for electric powertrains, utilizing its advanced Coil Driver technology to improve energy efficiency and performance. The company aims to optimize the operation of electric motors by adjusting torque profiles for various speeds.

Exro Technologies has reported its Q2 2020 financial results, marking a comprehensive loss of $2,246,269, up from $1,000,865 in Q2 2019. The company raised Cdn $8,000,000 through a successful offering of 11,428,571 units at $0.70 per unit. Exro has established three new partnerships with Clean Seed, Zero Motorcycles, and SEA Electric. Significant advancements include the delivery of a customized driver to Potencia for testing, expected to be completed by the end of October 2020. The company’s liquidity remains stable with cash of $1,830,407.