EXROF
Exro Technologies Inc.

Exro offers a new power electronics solution for system optimization through implementation of its technology which increases efficiency, reduces system volume and weight, and expands torque and speed capabilities. Exro's electronics technology provides a new brain via enhanced control for motors and batteries. Exro’s advanced motor control technology, the Coil Driver™, expands the capabilities of powertrains by enabling two separate torque profiles within a given motor. A major advancement in the sector, dynamic motor configuration that is done electronically, enables efficiency optimization for each operating mode resulting in reduction of energy consumption. The controller automatically selects the appropriate configuration in real time so that power and efficiency are intelligently optimized. The Coil Driverᵀᴹ is the first drive to enable intelligent coil switching while in operation, which allows a motor to switch coil configurations based on torque demands from the vehicle. Exro is also currently developing a new battery management technology called the Battery Control System (“BCS”) – formerly known as the Intelligent Battery Management System. Exro expects the BCS to provide an improvement over existing battery Energy Storage Systems (“ESS”) in reliability and versatility of power while enabling the repurposing of electric vehicle (“EV”) batteries for second-life application.

Exro has office leases in 4 cities: Calgary, Alberta, Canada - head office and innovation center. Vancouver, British Columbia, Canada - corporate office. Mesa, Arizona, USA - US offices for research, development and testing. Annapolis, Maryland, USA - corporate office. Exro is adding two additional dynameter bays, one in the Calgary Innovation Center and the other in Arizona USA, so that its engineering teams can run multiple testing projects simultaneously. This investment of $2.4 million aims to fast track projects. The equipment has been ordered, and $0.2 million has been spent in ordering the equipment as of June 30, 2021. Exro is building automotive standard SMT (“Surface-mount technology”) production and PCB (“Printed-circuit board”) assembly lines in the 37,000 square foot facility in Calgary, Alberta. The facility plans to be outfitted to meet certifications for ISO 9001:20156, IATF 169497, and ISO 262628 compliant product development. Vendors and contractors have been selected for the equipment and the construction. As of June 30, 2021, the Company has spent $1.8 million against $17 million planned investment. The plan is to open the doors before the end of 2021 for Exro employees. Automotive certified production is anticipated to commence by the end of 2022.