Exro Technologies (EXROF) Update - Nov 23

Exro Technologies (EXROF) Update - Nov 23

Postby dan_s » Tue Nov 23, 2021 8:03 pm

Exro Technologies is high on my Watch List.

Exro Employees Move into US Headquarters in Mesa, Arizona
Tue, November 23, 2021

Exro employees have settled into the Mesa, Arizona office as construction continues in the research and development facility, which is expected to be completed in the second quarter of 2022.

The 15,000 square foot facility will increase Exro's Coil Driver™ testing capacity and create space for developing its Energy Storage Systems.

The U.S. headquarters opening comes shortly after Exro filed its application to list on the Nasdaq and aligns with its global expansion plans to increase demand for its technologies in the marketplace.

CALGARY, AB, Nov. 23, 2021 /PRNewswire/ - Exro Technologies Inc. (TSX: EXRO) (OTCQB: EXROF) (the "Company" or "Exro"), a leading clean technology company that has developed a new class of power electronics for electric motors and batteries, announced today that the Company employees have moved into its U.S. headquarters in Mesa, Arizona. Since Exro first announced the location of its U.S. headquarters, at 7853 East Ray Road, the Company has brought in the first dozen employees who will open the doors in the Greater Phoenix region. Arizona is a leading state for cutting-edge research and development in mobility technology and, from the new location in Mesa, Exro will be able to enhance service to its U.S. partners and customers.

The plans for Exro's 15,000 square foot Arizona office include a research and development facility, an innovation center, and a robust engineering area from which the Company will continue product development and testing of the Coil Driver technology's ability to cost-effectively optimize and improve performance in electric motors. Exro will also develop and pilot its Energy Storage System from the same location. The new Mesa facility will be equipped with two electric motor dynamometers ("dyno") in the first quarter of 2022. This will triple Exro's testing capacity. Full facility completion is expected for the second quarter of 2022.

"Moving into our Mesa facility today marks another milestone for the company this year," said Sue Ozdemir, CEO of Exro. "With our doors officially open for business, we expect to increase our testing capacity and scale to meet the demand we're creating. We can't wait to welcome our partners, customers and shareholders to tour our state-of-the-art innovation and development facility early next year."

The news of Exro employees' move into its Mesa, Arizona office follows the Company's application to list on the Nasdaq, further demonstrating Exro's expansion plans to gain a global footing, increase visibility in the marketplace, diversify its shareholder base, and strengthen long-term shareholder value. With its U.S. headquarters now open, Exro plans to create 50 new jobs in 2022.

About Exro Technologies Inc.

Exro is a clean technology company pioneering intelligent control solutions in power electronics to help solve the most challenging problems in electrification. Exro has developed a new class of control technology that expands the capabilities of electric motors, generators, and batteries. Exro enables the application to achieve more with less energy consumed.

Exro's advanced motor control technology, the Coil DriverTM, expands the capabilities of electric powertrains by enabling intelligent optimization for efficient energy consumption. Exro is working with many partners from all over the world to bring their technology to the electric mobility industries and beyond.

For more information visit our website at www.exro.com.
Dan Steffens
Energy Prospectus Group
Posts: 27309
Joined: Fri Apr 23, 2010 8:22 am

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