- Exro Technologies secures prestigious title as PACEpilot
Innovation to Watch award winner for its Coil Driver™ EV traction
inverter.
- Renowned industry recognition, judged by seasoned automotive
experts, celebrates Exro's contribution to technology
disruption in the automotive sector.
- PACEpilot top honour highlights Exro's dedication to
empowering automakers in delivering top-performing, efficient
electric vehicles.
CALGARY,
AB, April 30, 2024 /CNW/ - Exro Technologies
Inc. (TSX: EXRO) (OTCQB: EXROF) (the "Company" or
"Exro"), a leading clean-technology company that develops
new generation power-control electronics that expand the
capabilities of electric motors and batteries, is pleased to
announce that the Company was honoured as an awardee in the 2024
Automotive News PACEpilot Innovation to Watch competition at the
annual awards ceremony held in Detroit,
Michigan on April 29, 2024.
This prestigious recognition acknowledges post-pilot,
pre-commercial innovations that are set to disrupt and
revolutionize the automotive space.
Exro was recognized for its Coil Driver™ Electric Vehicle ("EV")
Traction Inverter. The e-mobility landscape faces staggering
challenges in transitioning to clean energy. From aggressive
government targets and regulations to a challenging supply chain
environment and the pressure to deliver top-performing vehicles,
success for automakers entails overcoming barriers. As a new brain
for EVs, Coil Driver™ tackles these challenges head-on, enhancing
EV performance at high speed, while providing better starting
torque and climbing power at low speed. The result is improved
operational efficiencies and extended range.
The rigorous selection process of the 4th annual
PACEpilot program, presented by Automotive News, culminated in
Exro's award winner designation. An esteemed panel of judges
evaluated Exro's technology, including a comprehensive written
application and multiple virtual pitch sessions with the Company's
executive team. With hundreds of applicants vying for recognition,
less than 25 companies were selected as finalists in the PACEpilot
category, and less than 50% of these finalists were titled award
winners. Exro's emergence as a PACEpilot Innovation to Watch award
winner highlights its position at the forefront of electric vehicle
innovation, poised to shape the future of mobility.
"Exro is honoured to be recognized as a 2024 Automotive News
PACEpilot Innovation to Watch for its Coil Driver™ EV Traction
Inverter," said Exro CEO Sue
Ozdemir. "This prestigious industry recognition is a
testament to our dedication to advancing clean energy solutions and
the transformative potential of our technology. As a PACEpilot
award winner, we are further inspired in empowering automakers to
deliver top-performing, efficient electric vehicles."
The 4th annual PACEpilot program was presented by Automotive
News. The competition was open to suppliers and startups that
invented products, software/IT systems or processes and idea
incubators that have the capacity to transform the automotive
industry. The Automotive News PACEpilot program is leading the way
in distinguishing global emerging innovators. For complete details
of the Automotive News PACEpilot program, visit
www.autonews.com/pace.
ABOUT EXRO TECHNOLOGIES INC.
Exro Technologies Inc. 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
(Coil DriverTM) and stationary energy storage (Cell
DriverTM), and act to accelerate adoption towards a
circular electrified economy by delivering more with less – minimum
energy for maximum results.
For more information visit our website at www.exro.com.
To view our Corporate Presentation visit us at
www.exro.com/investors
Visit us on social media @exrotech.
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING
STATEMENTS
This news release contains forward-looking statements and
forward-looking information (together, "forward-looking
statements") within the meaning of applicable securities laws. All
statements, other than statements of historical facts, are
forward-looking statements. Generally, forward-looking statements
can be identified using terminology such as "plans", "expects",
"estimates", "intends", "anticipates", "believes" or variations of
such words, or statements that certain actions, events or results
"may", "could", "would", "might", "will be taken", "occur" or "be
achieved". Forward looking statements involve risks, uncertainties
and other factors disclosed under the heading "Risk Factors" and
elsewhere in the Company's filings with Canadian securities
regulators, that could cause actual results, performance,
prospects, and opportunities to differ materially from those
expressed or implied by such forward-looking statements. Although
the Company believes that the assumptions and factors used in
preparing these forward-looking statements are reasonable based
upon the information currently available to management as of the
date hereof, actual results and developments may differ materially
from those contemplated by these statements. Readers are therefore
cautioned not to place undue reliance on these statements, which
only apply as of the date of this news release, and no assurance
can be given that such events will occur in the disclosed times
frames or at all. Except where required by applicable law, the
Company disclaims any intention or obligation to update or revise
any forward-looking statement, whether as a result of new
information, future events or otherwise.
This information is qualified in its entirety by cautionary
statements and risk factor disclosure contained in filings made by
the Company with the Canadian securities regulators, including the
Company's annual information form for the financial year ended
December 31, 2022, and financial
statements and related MD&A for the financial year ended
December 31, 2022, filed with the
securities regulatory authorities in certain provinces of
Canada and available at
www.sedar.com. Should one or more of these risks or uncertainties
materialize, or should assumptions underlying the forward-looking
information prove incorrect, actual results may vary materially
from those described herein as intended, planned, anticipated,
believed, estimated or expected. Although the Company has attempted
to identify important risks, uncertainties and factors which could
cause actual results to differ materially, there may be others that
cause results not to be as anticipated, estimated or intended. The
Company does not intend, and does not assume any obligation, to
update this forward-looking information except as otherwise
required by applicable law.
Neither the Toronto Stock Exchange nor the Investment Industry
Regulatory Organization of Canada
accepts responsibility for the adequacy or accuracy of this press
release.
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SOURCE Exro Technologies Inc.