Exro Technologies Inc (CSE:XRO) (OTCMKTS:EXROF) is dedicated to enhancing the performance and efficiency of electrical and renewable power systems to accelerate the transition to clean energy around the world.
It may sound like a mammoth task, but the Vancouver, British Columbia-based company is confident that it has the right suite of services and products to keep green energy flowing.
Currently, electric motors require some type of mechanical transmission to change the speed or torque range. Conventional motors operate through a single speed torque characteristic and one static efficiency curve. Battery-powered motors come with their own limitations.
Exro's technology improves energy systems by dynamically sensing and adapting varying inputs and matching them to desired outputs, creating performance gains and an extended lifespan.
The company’s patented technology is used in electric vehicles, unmanned aerial vehicles (UAVs) and ship drives. Each market is a multibillion-dollar industry, with the global electric engine market alone expected to hit over US$214 billion by 2025.
Most of its competition comes from companies that are developing a new motor. But while other companies must build a manufacturing facility and scale it to accommodate large volumes, Exro works within the existing power train.
Exro stepped up its stock listing in September, moving to the TSX Venture Exchange from the CSE under the ticker EXRO.
The clean technology company also recently closed an oversubscribed $8 million financing earmarked for the research and development of its intelligent battery management system and electric vehicle programs.
These developments have paid dividends in the form of new partnerships. Over the past few months, the company has been able to add three high-quality partnerships with Clean Seed Capital Group Ltd (TSX:CSX), Zero Motorcycles and SEA Electric Private Limited.
Exro took another step towards commercializing its electrical engine performance system, thanks to a new partnership with Canadian boat manufacturer The Templar Marine Group Ltd, which produces commuter electric boats such as water taxis and rental fleets.
Even more recently, Exro announced a collaboration with leading German electric drive manufacturer Heinzmann GMBH & Co KG to integrate its coil drive technology into Henizmann’s micro-mobility (small vehicles traveling slower than 15 mph) applications.
Under the terms of that deal, Exro will handle testing, power electronics design and supply, with Heinzmann providing the motor technology and integration support.
Exro's CEO Sue Ozdemir, the former head of GE’s industrial motors division, has a lifetime’s worth of experience in the engine industry, growing up in a motor repair shop and learning how to wind a motor as a child.
Today, she’s excited about Exro’s prospects as it makes moves to become a leading player in the renewable power systems sector.
“We have been establishing our position in the marketplace. Our mission, ‘Minimum Energy, Maximum Results’ has become a guiding light for us to continue to develop new and innovative ways to utilize our technology and become a market leader in advanced power electronics within the mobility space,” Ozdemir said in a recent statement.
“Our growth plan is one that will sustain us for a vibrant future. It takes time to build a masterpiece but we have the paint, the brushes, the canvas and all the artists we need to make it happen,” she added.