Exro’s CEO Company Replace Letter
- A mirrored image on the primary twelve months as CEO
- Sturdy monetary place with latest $8M increase in July
- On schedule to shut eight industrial partnerships
CALGARY, AB / ACCESSWIRE / September 3, 2020 / Exro Applied sciences Inc. (CSE:XRO)(OTCQB:EXROF), a number one expertise firm which has developed a brand new class of energy electronics for powertrains shares a company replace from the CEO, Sue Ozdemir.
Expensive Fellow Shareholders:
It is exhausting to imagine that’s has been a 12 months since I joined Exro. The previous 12 months has been so rewarding as we innovate and rework our enterprise. We’re positioning ourselves to grow to be leaders as we use the ability of our expertise to rework the way in which the world seems at power consumption. I imagine we now have the perfect platform to achieve success.
I’m extraordinarily happy with the folks that encompass me, all who play a essential function in our success. Exro has invested in our expertise, our folks and our future. Because of your assist we will finance our development and proceed to ship on our milestones and in the direction of our long-term technique.
We now have been establishing our place within the market: our mission “Minimal Power, Most Outcomes” has grow to be a guiding mild for us to proceed to develop new and modern methods to make the most of our expertise and grow to be a market chief in superior energy electronics throughout the mobility house. On all fronts we’re executing in keeping with our expertise roadmap and the second half of the 12 months is already shaping as much as assist us in our expectations for the rest of 2020.
Prioritizing our Partnerships
Our workforce is continuous to focus our consideration on co-development with our partnerships. We’re on schedule for all our industrial developments and anticipate the 100V Coil Driver proof of idea to be delivered in early This autumn. This can present the primary proof of idea in an electrical car later this 12 months. My dedication in September 2019 was to enter into eight industrial partnerships by finish of 2020. For the reason that final company replace in April we’ve been profitable in securing 3 extra partnerships. This places us at 7 offers and leaves us at the least yet one more deal by the top of the 12 months. We now have a robust pipeline and are optimistic in our potential to fulfill our dedication to eight offers by the top of 2020. Additional, we’re gaining international presence as our companions ship functions in North America, Australia, and Europe.
All of our partnerships present essential steppingstones to our marketing strategy. Demonstrating the flexibility of our expertise, we’re working with the whole lot from a two-wheel electrical bike to a fleet supply van. Our progress continues to ship proof of ideas to the market in a wide range of totally different functions and energy scores; offering us the inspiration to increase the enterprise with bigger partnerships sooner or later. All our companions have been fastidiously chosen to assist showcase our versatility and scalability. This demonstrates our potential to offer our coil-driver expertise each in micro functions and enormous, excessive efficiency functions. We now have quite a lot of room for development and with our execution on these eight partnerships, we will speed up our conversations and rework the mobility market endlessly.
Superior Energy Electronics Expertise
The engineering workforce has been working exhausting to ship the following section of the Potencia Industrial, S.A. DE C.V. (“Potencia”) challenge in early This autumn. This Coil Driver will exhibit our capabilities in an electrical car in Mexico Metropolis. In parallel, we proceed to develop the 400v and 800v drivers for different prospects. A few of our subsequent milestones will likely be:
November 2020- supply to Potencia (electrical automotive utility)
That is an particularly pivotal challenge for Exro as it’ll grow to be the platform design, decreasing design time for future partnerships. It additionally serves as our first in-car utility, demonstrating our potential to rework the automotive energy electronics trade.
December 2020 – the IBMS (Clever Battery Administration System) proof of idea. With the analysis section now behind us, this expertise growth will permit us to offer take a look at bench information to assist our simulations and make sure that we’re in a position to present an answer for first life batteries for use in second life functions, similar to stationary storage for instance.
This autumn 2020 – We anticipate the 8th deal will likely be one more illustration of the flexibility and scope of our innovation. We put quite a lot of effort into how every partnership contributes in the direction of our future development plan. Discovering companions that ship a brand new phase, new geography or new utility is a part of securing our footprint in lots of market segments. This can place us for a strong and sustainable future.
Early 2021 (Q1)- supply to Zero Motorbike (“Zero”) (electrical motorbike utility)
When you’ve got not heard of this firm, you need to go to their web site at www.zeromotorcycles.com. Zero is a world chief in electrical bikes and this challenge will exhibit our “supercharger” skills as we offer optimized efficiency for an already nice expertise.
As we proceed to evolve our model, I needed to make clear the important thing elements of our expertise and our give attention to the mobility phase:
1. Coil Switching Expertise
That is the core patented expertise for Exro, permitting us to create two torque profiles inside a motor. This gives the flexibility to supercharge a powertrain, to get extra with much less power consumed, to scale back extra motors and/or gearboxes. It has opened quite a lot of dialogue with our current and potential companions on how we will optimize a powertrain and alter the paradigm on power consumption. “Minimal Power, Most Outcomes”.
We’re persevering with to innovate and develop our IBMS (Clever Battery Administration System). The outcomes thus far have been favorable and we’re working in the direction of the utilization of an IBMS Inverter that can permit first life batteries for use in secondary life functions like stationary storage. I’m assured which are IBMS expertise will present an answer to the limitations for second life functions. The Proof of idea will likely be accomplished by finish of the 12 months and can exhibit our potential to offer a bankable and technically securable second life battery power storage system.
Subsequent milestone: Dec. 2020 supply of proof of idea, pilot utility in Q1
We’re presently targeted on the mobility phase and a wide range of traction functions. Nonetheless, the expertise shouldn’t be tied to a particular sort of motor or generator. Most broad torque functions with a mixed want for velocity (manufacturing) and torque are good alternatives for Exro. We proceed to work with potential companions in a wide range of functions that can exhibit our expertise’s strengths, versatility, and optimization outcomes.
The give attention to the mobility phase is a strategic choice to speed up us to turning into a market chief. Virtually all mobility functions comprise propulsion: which means they’ve an ideal torque curve for our expertise and supply the inspiration for the superior optimization. The mobility utility consists of the whole lot from a scooter, to an e-bike, to an e-bus but additionally consists of mining haul vans, raise vans, off street automobiles, trains and the checklist goes on! This isn’t a sign of the one phase we will take part it however an optimum place for us to focus and grow to be leaders in.
Calgary is now house
It’s taking a bit extra time than anticipated as transferring and constructing a brand new facility is a mixture of ups and downs. Our lab house is Victoria was formally closed in June and we’ve moved all of our gear to Calgary. As well as, we’ve ordered our new, massive dyno bay permitting us to closing take a look at our bigger drivers. The Calgary workplace house is now open, and our workforce is having fun with collaborating collectively within the workspace. We are actually working with our contractors to finish the testing lab and have the whole lot able to share with prospects and all of you. Tentatively we’re an “official” opening date in late October. For anybody coming by way of the Calgary space please be happy to succeed in out for a go to. Resulting from Covid-19, we’re solely permitting guests by appointment. This has allowed us to maintain a protected work surroundings for our staff and their households. For our opening in late October we’ll host a number of small occasions so everybody can share within the success from all of the exhausting work over the previous months that obtained us to this stage.
Constructing Model Consciousness
We proceed with our efforts to construct an ideal firm and lift consciousness of the Exro expertise. There was some nice protection over the previous few months that helps to advertise our model.
Two of my private favorites are;
We’re engaged on a brand new web site and different campaigns that can proceed to advertise our model and construct our future. Our new advertising and marketing technique will assist our latest developments as we drive scalable commercialization.
Abstract and Trying Ahead
I’ve shared a number of of our achievements and am very excited concerning the time forward. We’re in an ideal place to execute on our commitments. Our workforce is motivated, engaged and assured within the developments forward and looking out ahead to sharing extra excellent news with all of you.
Our development plan is one that can maintain us for a vibrant future. It takes time to construct a masterpiece however we’ve the paint, the brushes, the canvas and all of the artists we have to make it occur.
For the steps forward I encourage you to observe for:
- Completion of our Innovation Heart
- The proof of idea for the 100V Coil Driver. This can be a main milestone for Exro, because it demonstrates the flexibility to interchange a standard inverter in an electrical car with our first to market Clever Coil Driver
- The 8th deal- our dedication is eight by finish of 2020. There’s by no means a assure, however we’re very inspired concerning the progress to a future announcement
- Constructing our board of administrators to assist our give attention to the mobility phase
The world we function in continues to offer unprecedented challenges. I’m proud to signify the workforce at Exro and to proceed delivering on our commitments. Our monetary place is powerful and our workforce is motivated to ship. Over the previous twelve months we’ve invested closely in our enterprise and we’ve cast the trail for our profitable future.
I want to thank every and everybody of you to your continued assist of Exro, your perception in me and my potential to take us to the following degree. Our aim stays to vary the way in which the world seems at power consumption: Minimal Power, Most Outcomes. We now have the fitting workforce, the fitting expertise, the fitting marketing strategy and the fitting tradition to make it occur.
Chief Govt Officer
About Exro Applied sciences Inc.
Exro is a Clear Tech firm that has developed a brand new class of management expertise for electrical powertrains. Exro’s superior motor management expertise, our “Coil Driver”, expands the capabilities of electrical motors and powertrains. The Coil Driver permits two separate torque profiles inside a given motor. The primary is calibrated for low velocity and excessive torque, whereas the second gives expanded operation at excessive velocity. The flexibility to vary configuration permits effectivity optimization for every working mode, leading to general reductions in power consumption. The controller robotically and seamlessly selects the suitable configuration in actual time in order that torque demand and effectivity are optimized. Exro gives a brand new resolution for system optimization by way of implementation of its expertise which might yield the next outcomes: elevated drive cycle effectivity, diminished system quantity, diminished weight, expanded torque and velocity capabilities. Exro permits the appliance to attain extra with much less power consumed.
For extra data go to our web site at www.exro.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Sue Ozdemir, Chief Govt Officer
Canada: Jake Bouma
VP of Investor Relations
United States: Vic Allgeier
TTC Group Inc.
E mail: firstname.lastname@example.org
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SOURCE: Exro Applied sciences Inc.
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