Read the story here. Advertise at Before It's News here.
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views
Last Hour:
Last 24 Hours:

Exro Technologies adds three new “high quality” partnerships as it posts second quarter results

% of readers think this story is Fact. Add your two cents.

Exro Technologies Inc (CSE:XRO) (OTCMKTS:EXROF) CEO Sue Ozdemir told investors the company has been able to add three new “high quality” partnerships as she reported financial and business results for the second quarter.

In a statement accompanying the Vancouver-based technology company’s latest numbers, Ozdemir said: “We are excited that Exro has been able to add three new high-quality partnerships over the last four months with Clean Seed Capital Group Ltd (TSX:CSX), Zero Motorcycles and SEA Electric Private Limited.”

Exro has developed a new class of control technology for electric motors powertrains using artificial intelligence. The company’s patented motor control technology Coil Driver expands the capabilities of electric motors and powertrains in terms of output and efficiency.

READ: Exro Technologies CEO Sue Ozdemir to chair newly formed NEMA automotive council

Ozdemir said she is excited about Exro’s prospects as it makes moves to become a leading player in the renewable power systems space.

“On the commercialization front, our engineering team delivered the customized driver to Potencia at the end of June. The driver is now undergoing rigorous testing with Potencia’s engineering team,” Ozdemir, who is the former head of GE’s industrial motors division noted.

Exro has contracts with Potencia Industrial which is converting internal combustion engines in Mexico City’s taxis to electric motors, as part of an initiative to green the city’s 250,000 taxi fleet. Exro is working to integrate its hardware and software technology into Potencia’s motor drives.

After Potencia’s internal testing is complete, Exro’s Coil Driver will be installed in a vehicle and road-tested, paving the way for “the first on road application for Exro,” noted the company.

“We’re excited to confirm that the driver has been received and testing has begun on the unit. Our expectation is to complete testing by the end of October. Exro has delivered, and we look forward to continuing to strengthen our relationship,” Tomas Gottfried, Potencia’s technical director said.

For the second quarter ended June 30, 2020, the Canadian software design technology and smart energy company reported a comprehensive loss of $2,246,269, compared to $1,000,865 in the same period in 2019.

The group’s professional fees amounted to $138,081 during the second quarter, compared to $79,304 in the same period a year earlier.

However, the company has sufficient capital as it eyes vast opportunities for its patented technology in electric vehicles, electric boats, electric bikes, electric farm equipment and electric motors.

Exro recently successfully closed its marketed short form prospectus offering for gross proceeds of C$8 million which the company said will be used for development of the “coil switching technology for commercialization in the micro, light and commercial electric vehicle programs.”

Contact the author Uttara Choudhury at [email protected]

Follow her on Twitter: @UttaraProactive

Story by ProactiveInvestors


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!

Order by Phone at 888-809-8385 or online at

Order by Phone at 888-809-8385 or online at

Get our Free Ebook, "Suppressed Health Secrets"  with  Natural Cures THEY don't want you to know!

Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Organic Hemp Extract (CBD) - Full Spectrum high CBD (3300mg) hemp extract eases stiff joints, relieves stress and more!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Load more ...




Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.