Exro Technologies Inc. CEO Highlights Company’s Smart Coil-Switching Technology — a New Brain for Electric Motors; Discusses Recent Milestones and Corporate Goals

NEW YORK, June 16, 2020 (GLOBE NEWSWIRE) -- via NetworkNewsAudio — Exro Technologies Inc. (CSE: XRO) (OTCQB: EXROF) today announces that its CEO, Sue Ozdemir, has been featured in an exclusive audio interview with NetworkNewsWire (“NNW”), a financial news and content distribution company and one of 40+ brands in the InvestorBrandNetwork (“IBN”). During the interview, Ozdemir provided insight into what makes Exro’s smart coil-switching technology a potential gamechanger for electric motors, as well as discussing the company’s recent milestones and goals for the balance of 2020.

The broadcast can be heard at The NetworkNewsAudio Interviews Podcast.

Ozdemir started the interview by providing a brief overview of Exro’s unique technology, which she describes as “a new brain for electric motors.” By connecting an electric motor, through a controller, to the company’s smart coil-switching technology, users can optimize speed and torque more efficiently, allowing the unit to go farther. “We could get more usage out of the battery range or just optimize the complete system,” she said.

This innovative technology played a key role in Ozdemir’s decision to join the company in September 2019, after being CEO of General Electric’s Small Industrial Motors Division. “When I saw the technology at Exro what I really saw was this fantastic technology that addresses the issue that the market has with the limitations of electric motors not having speed and torque capabilities, but they didn’t know how to commercialize it,” she continued. “I decided that it was a good fit for me and that I could work with a great team to make this into the size of company that I know it should be.”

Since joining Exro, Ozdemir has turned her attention toward assembling a strong management team to guide Exro as it looks to commercialize its promising tech. “I recruited Josh Sobil in November. Josh joined me as the chief commercial officer from Siemens Canada,” she stated. “We’re continuing to build up our team, and we’ve got a strong board of directors led by Mark Godsy, who is a serial entrepreneur who has been included in many successful ventures across Canada, most successfully with two companies – ID Biomedical and Angiotech Pharmaceuticals.”

When discussing Exro’s recent milestones, Ozdemir provided more insight into the company’s ongoing efforts to commercialize its smart technology platform.

“[Commercialization] was my biggest goal, the biggest milestone that I’d set out,” she said. “If you look at our deals, they’re with fairly small companies. That was strategic for this year, so that we could get some small companies that could move fast and be nimble and show that the technology works… Each deal we sign, we’re getting a little bit bigger of a partner, and we’re really building ourselves for a future.”

Ozdemir concluded the interview by discussing Exro’s goals for the remainder of 2020.

“In general, especially in the current world situation that we have, everybody’s thinking about how we can do things differently, but electric motors in particular are a really old industry,” she concluded. “There hasn’t been a lot of innovation in the space that has really been able to change the market. I really want Exro to be part of the company that changes that.”

Please listen to the full interview with Exro CEO Sue Ozdemir at http://nnw.fm/JA6Rl.

About Exro Technologies Inc.

Exro is a Clean Tech company that has developed a new class of control technology for electric powertrains. Exro's advanced motor control technology, our "Coil Driver," expands the capabilities of electric motors and powertrains. The Coil Driver enables two separate torque profiles within a given motor. The first is calibrated for low speed and high torque, while the second provides expanded operation at high speed. The ability to change configuration allows efficiency optimization for each operating mode, resulting in overall reductions in energy consumption. The controller automatically and seamlessly selects the appropriate configuration in real time so that torque demand and efficiency are optimized.

The limitations of traditional electric machines and power technology are becoming more evident. In many increasingly prominent applications, traditional methods cannot meet the required performance. This means either oversizing the equipment, adding additional motors, or implementing heavy mechanical geared solutions. Exro offers a new solution for system optimization through implementation of the technology which can yield the following results: increased drive cycle efficiency, reduced system volume, reduce weight, expanded torque and speed capabilities. Exro allows the application to achieve more with less energy consumed.

For more information, visit the company’s website at www.Exro.com.

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Forward-Looking Statements

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.

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