Exro Technologies (TSX: EXRO) (OTCQB: EXROF) is a leading clean technology company that has developed new generation power control electronics that expand the capabilities of electric motors and batteries. The company today announced that its Cell Driver(TM) Energy Storage System (“ESS”) has successfully completed large-scale module fire testing and the first major phase towards product certification from Underwriters Laboratories (“UL”). “We are absolutely thrilled with the performance of our energy storage system during this important first phase of UL testing, which is widely regarded as the most demanding of the certification requirements,” said Chief Executive Officer Sue Ozdemir. “As the world pushes forward with the electrification transition, Exro’s Cell Driver technology is proving to be a superior and cost-effective product offering that addresses major industry challenges in energy storage from safety, complexity of design, reliability and having a positive impact on the circular economy given a focus on repurposing used EV batteries for a second life in stationary storage. With Global Energy Storage Market Reports forecasting energy storage to be an approximately $100 billion market by 2030, we are looking forward to providing additional visibility into our progress towards commercialization over the coming months, as we work to capture market share in the under-serviced commercial and industrial sectors.”
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About Exro Technologies Inc.
Exro is a leading clean technology company that has developed new generation power control electronics that change how the world optimizes energy by expanding the capabilities of electric motors and batteries. The company’s innovative technologies serve to bridge the performance-cost gap in e-mobility and stationary energy storage, and act to accelerate adoption towards a circular electrified economy by delivering more with less – minimum energy for maximum results. For more information, visit the company’s website at www.Exro.com.
NOTE TO INVESTORS: The latest news and updates relating to EXROF are available in the company’s newsroom at http://ibn.fm/EXROF
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