Welcome to our dedicated page for Exro Technologis news (Ticker: EXROF), a resource for investors and traders seeking the latest updates and insights on Exro Technologis stock.
Exro Technologies Inc. (EXROF) appears frequently in market and corporate news as a technology and clean-technology company focused on power control electronics for electric vehicles and energy storage. Company releases describe its Coil Driver™, Cell Driver™, and SEA-Drive® technologies, as well as its expansion through the acquisition of SEA Electric, making Exro a regular subject of updates related to electrification and e‑propulsion systems.
News coverage for Exro often centers on financial results, including quarterly revenue from electric propulsion units and aftersales services, and commentary on cost optimization and restructuring initiatives. Investors can find details on how Exro’s commercialization efforts, OEM engagements, and pilot deployments of its technologies affect its reported performance.
Another key theme in Exro’s news flow is its strategic review and financing activities. The company has announced a senior secured credit facility of up to US$30 million, milestone-based draws under that facility, and related developments involving senior secured convertible debentures and secured notes. Updates on debentureholder consent, interest payments settled in shares, and amendments to security priorities are also covered in its releases.
Corporate governance and restructuring developments feature prominently as well. Exro has reported the resignation of its Chief Executive Officer, the appointment of a Chief Restructuring Officer, workforce reductions, and the wind-down of Australia-based and Asia-Pacific operations. These items provide context on how the company is repositioning itself while continuing to reference its core power control and e‑propulsion technologies.
Stock Titan’s EXROF news page aggregates these announcements, giving readers a single place to review Exro’s earnings updates, strategic review milestones, financing arrangements, and operational changes. Regular visitors can track how the company’s technology narrative, capital structure, and restructuring progress evolve over time.
Exro Technologies (OTCQB: EXROF) reported its Q4 and full-year 2024 results, achieving record annual revenue of $23.1 million, driven by the delivery of 153 e-propulsion systems. The company completed its merger with SEA Electric and implemented significant cost reductions, exceeding its savings target with over US$15 million in annualized savings.
The workforce optimization reduced employee count from 266 to approximately 130, cutting payroll expenses by more than 50%. Key operational highlights include an innovation program with Stellantis for Coil Driver™ in passenger vehicles, a new powertrain pilot with a major commercial vehicle OEM, and ETL Certification for the Cell Driver™ battery storage system.
However, due to market uncertainty related to U.S. incentives and regulatory changes, Exro has withdrawn its 2025 revenue guidance. The company is actively seeking financing alternatives, having received support from an existing investor while evaluating additional funding options.
Exro Technologies (TSX: EXRO, OTCQB: EXROF) has released its 2025 shareholder letter, highlighting progress in commercial vehicle and passenger vehicle sectors. The company reports ongoing success with Coil Driver™ pilot programs and has secured an additional paid pilot program with a top OEM, targeting production for 2026.
The company continues development with Stellantis and other OEM partners under NDA in the passenger vehicle sector, focusing on both battery-electric and hybrid applications. Exro's energy storage sector is gaining momentum, with projects scheduled for delivery in 2025. The company announced that Tony Fairweather, former SEA Electric founder, has resigned from the board following the April 2024 merger.
Management is focused on achieving profitability, enhancing the balance sheet, and implementing organizational improvements. The company plans to provide funding solutions updates before the end of Q1.
Exro Technologies (TSX: EXRO, OTCQB: EXROF) has announced its decision to settle semi-annual interest payments on its outstanding convertible debentures through the issuance of common shares. The company will issue 6,407,141 common shares at a deemed price of $0.14 per share to settle the C$897,000 interest payment due on its C$15,000,000 secured convertible debentures. The debentures, issued on December 30, 2022, carry a 12% annual interest rate with semi-annual payments. Currently, there are 14,950 debenture units outstanding. The share issuance is subject to regulatory approvals, including Toronto Stock Exchange approval.
Exro Technologies (TSX: EXRO, OTCQB: EXROF) has successfully completed the installation of its first Cell Driver™ Battery Energy Storage System at Red Deer Polytechnic (RDP). The system, installed by Exro's subsidiary Cellex Energy, integrates with a 1.6-megawatt rooftop solar system and a one-megawatt Combined Heat and Power Unit at RDP's Energy Innovation Centre.
The installation serves as a demonstration project for implementing clean energy technologies in commercial buildings and will be part of RDP's Energy Living Lab. The system aims to help lower energy costs and improve operational efficiency for commercial and industrial users. RDP's research staff and students will assess the system's capabilities, particularly focusing on its performance in Alberta's cold winter climate.
Exro Technologies (TSX: EXRO, OTCQB: EXROF) has announced its participation in The Benchmark Company's 13th Annual Discovery One-on-One Investor Conference, scheduled for December 11, 2024, in New York City. The conference provides a platform for emerging growth companies to connect with institutional and individual investors through one-on-one meetings.
During the conference, Exro will discuss its proprietary motor-control and electric propulsion system technology currently being delivered to blue-chip automotive OEM customers. The company will also share insights about strategic initiatives planned for 2025 and beyond. The Benchmark Company, established in 1988, is a New York-based firm specializing in sales trading, investment banking, strategic advisory services, and equity research.
Exro Technologies (TSX: EXRO, OTCQB: EXROF) has learned of a threatened class action lawsuit filed in the Court of King's Bench, Alberta. The proposed securities class action represents investors who purchased Exro securities between January 30 and November 13, 2024. The lawsuit, which names Exro, its CEO, and board chair as defendants, relates to the merger with SEA Electric that closed on April 5, 2024. The plaintiff alleges misrepresentations in Exro's January 30, 2024 material change report led to investor losses. The company disputes these allegations and plans to defend against the claim.
Exro Technologies (EXROF) hosted its inaugural Analyst Day in Mesa, AZ, announcing the launch of OEM vehicles integrated with its Coil Driver technology in partnership with Nidec Motor The company unveiled its Medium Duty driveline after 18 months of testing and provided financial guidance projecting revenues of $24-$28 million for 2024 and $85-$110 million for 2025. Integration of Coil Driver into series production systems is scheduled for second half of 2025, with EBITDA breakeven expected by year-end 2025.
Exro Technologies reported record Q3 2024 results with revenue reaching $11.0 million, a 108% increase from Q2. The company delivered 74 e-propulsion systems to OEM customers, up 106% from Q2. Exro achieved over US$15 million in cost savings through operational efficiencies, including a 35% headcount reduction. The company announced Stellantis N.V. as its automotive passenger vehicle OEM partner and completed a $25 million public offering. In technology validation, their Coil Driver® successfully powered a 17-tonne commercial electric vehicle up an 18% grade during pilots in Brazil.
Exro Technologies (TSX: EXRO, OTCQB: EXROF) announced its participation in the 13th Annual ROTH Technology Conference in New York City on November 19-20, 2024. The conference, hosted by Roth Capital Partners, will feature over 120 growth companies.
Senior executives will engage in one-on-one meetings with institutional investors to showcase the company's electric propulsion technologies, recent developments, and e-mobility partnerships. Exro's innovative solutions, including the Coil Driver®, SEA-Drive®, and Cell Driver™, focus on enhancing electric propulsion systems, motors, and batteries performance while maintaining cost-effectiveness.
Exro Technologies has announced its Q3 earnings release for November 13, 2024, followed by an Analyst Day event at their Mesa, Arizona headquarters on November 14. The company addresses recent stock volatility, noting a 50% decline since September due to the expiration of SEA Electric merger lock-up agreements. Key developments include enhanced investor relations through partnership with The Blueshirt Group, successful navigation of supply chain challenges, and operational cost reductions. The company has secured additional capital to support SEA-Drive® production scaling for two OEMs, emphasizing their focus on operational excellence and path to profitability.
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