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 Inc. has announced that its CEO, Sue Ozdemir, will speak at two prominent technology events: TechCrunch Sessions: Mobility in San Mateo, California from May 18-20, 2022, and Collision in Toronto from June 20-23, 2022. At TechCrunch, she will lead a discussion on challenges in building EVs in corporate settings. Meanwhile, at Collision, she'll participate in a panel on sustainable infrastructure. These appearances highlight Exro's commitment to advancing electric mobility technologies and building partnerships to drive electrification forward.
Exro Technologies announced its Q1 2022 financial results, reporting a comprehensive loss of $10.17 million, compared to $6.68 million in Q1 2021. Operating expenses rose significantly, with SG&A expenses at $2.65 million and R&D costs at $2.28 million. The company opened an office in Dexter, Michigan, and continues its construction of a manufacturing facility in Calgary, with $6.8 million invested to date. Exro secured sales agreements for up to 3,500 units of its Coil Driver™ technology, enhancing its position in the EV market.
Exro Technologies has partnered with evTS to implement its Coil Drive System in the 2023 FireFly vehicles. This collaboration marks a significant milestone, as evTS plans to order 1,000 units of the 100V Coil Drive System, enhancing vehicle efficiency and torque through intelligent gear switching. Over three years, Exro will supply increasing volumes of this technology, enabling evTS to optimize its vehicles and facilitate battery repurposing for energy storage, supporting sustainability efforts.
Exro Technologies Inc. (EXROF) has signed a multi-year agreement with ev Transportation Services (evTS) for the purchase of 1,000 units of its 100V Coil Drive System. Initial deliveries are set to begin in 2023. This deal marks a significant expansion of their partnership, aimed at enhancing the efficiency and range of evTS's FireFly ESV vehicles. The Coil Drive System technology will enable real-time gear switching to optimize vehicle performance. Additionally, the collaboration focuses on repurposing used batteries for energy storage, showcasing Exro's commitment to sustainability and electrification.
Exro Technologies has entered into a multiyear agreement with Vicinity Motor Corp. to supply high-voltage Coil Drive Systems, initiating with a purchase order of 100 units. The total delivery could reach 2,500 units over the next 36 months. This partnership aims to enhance the sustainability and efficiency of Vicinity's electric buses, which are vital for public transit. Exro will also offer design and engineering services, further increasing its revenue stream. This deal underscores Exro's commitment to advancing electrification in the mobility sector.
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Exro Technologies, a leader in clean technology, will host a quarterly webcast led by CEO Sue Ozdemir, focusing on key updates including Coil Driver performance tests. The webcast will highlight a $1 million purchase order for engineering services from a Tier-1 automotive supplier and ongoing developments with partners like Potencia Industrial and Traktionssysteme Austria. Notable company changes include new executive hires and Coil Driver recognition as an Edison Awards Finalist. Link to the webcast and demonstration videos will be shared, emphasizing Exro's progress towards commercialization.
Exro Technologies Inc. (TSX: EXRO) (OTCQB: EXROF) announced its financial results for the year ending December 31, 2021, reporting a comprehensive loss of $24.6 million, up from $11.0 million in 2020. The Company increased its R&D activities twofold, reaching $7.4 million for the year. Exro launched its new services division, Exro Vehicle Systems, to support automakers in electrification. The Company opened a 37,000 sq. ft. manufacturing facility in Calgary and achieved a second vehicle integration of its Coil Driver technology. Cash reserves stood at $15.3 million.
Exro Technologies has appointed Rod Copes, the recently retired Chief Operating Officer of Rivian, to its advisory board. With a robust background including a degree from MIT and experience at Harley-Davidson and Royal Enfield, Copes brings significant expertise in the mobility industry. His role aims to provide strategic direction for Exro as it transitions from development to commercialization of its innovative power electronics technology, which enhances the efficiency of electric vehicle systems.
Exro Technologies has successfully completed performance testing for its 100 Volt Coil Driver in collaboration with Zero Motorcycles, showcasing improvements in motor output for light electric vehicles. The Coil Driver increased peak power to 90 kW and peak torque to 227 Nm compared to Zero's existing system. Achieving over 13% more speed, 15% more torque, and 33% more power signifies a strong competitive edge in the lightweight electric mobility market. These results validate Exro’s engineering capabilities and support its reputation for delivering efficient, affordable electric vehicle solutions.
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