In a letter to shareholders, Ozdemir said that the Calgary-based company was on schedule to close eight commercial partnerships by the end of 2020.
The firm is also in a strong financial position, having recently closed an oversubscribed $8 million financing earmarked for the research and development of its intelligent battery management system and electric vehicle programs.
READ: Exro Technologies adds three new “high quality” partnerships as it posts second quarter results
“We have been establishing our position in the marketplace: our mission “Minimum Energy, Maximum Results” has become a guiding light for us to continue to develop new and innovative ways to utilize our technology and become a market leader in advanced power electronics within the mobility space,” Ozdemir wrote.
“On all fronts we are executing according to our technology roadmap and the second half of the year is already shaping up to support us in our expectations for the remainder of 2020.”
Exro expects to deliver its first in-car electric vehicle application to Potencia Industrial SA DE CV in November and another electric motorcycle application to Zero Motorcycle in early 2021, according to the CEO.
In addition, it is planning to deliver its proof of concept of its Intelligent Battery Management System by the end of December in advance of a pilot application planned for the first quarter of 2021.
“We are in a great position to execute on our commitments. Our team is motivated, engaged and confident in the developments ahead and looking forward to sharing more good news with all of you,” Ozdemir told investors.
“Our growth plan is one that will sustain us for a vibrant future. It takes time to build a masterpiece but we have the paint, the brushes, the canvas and all the artists we need to make it happen.”
Contact Angela at [email protected]
Follow her on Twitter @AHarmantas
Story by ProactiveInvestors
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com
Order by Phone at 888-809-8385 or online at https://www.herbanomic.com
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.
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.