Anuncio • May 02
Exro Technologies Inc., Annual General Meeting, Jun 25, 2025 Exro Technologies Inc., Annual General Meeting, Jun 25, 2025. Anuncio • Nov 28
Exro Technologies Inc. Learns of Threatened Lawsuit Filed in the Court of the King's Bench, Alberta Exro Technologies Inc. has learned of a threatened class action lawsuit in respect of which a statement of claim has been filed in the Court of the King's Bench, Alberta. Exro has not yet been served with the statement of claim but anticipates this will happen shortly. The claim is a proposed securities class action on behalf of the investors who purchased the securities of Exro in the secondary market or the primary market between January 30 and November 13, 2024 (the "Class Members"). Exro, its CEO and the chair of Exro's board of directors are among other defendants named in the statement of claim. The plaintiff says that the action arises out of the merger transaction between Exro Technologies and SEA Electric which closed on April 5, 2024, and alleges that the Class Member incurred damages or losses on their investments in Exro securities as a result of misrepresentations contained in a material change report filed by Exro on January 30, 2024. The plaintiff seeks certification of the action as a class action and his appointment as a class representative, a declaration that the January 30, 2024, contains misrepresentations, and a variety of remedies including an award of damages to the Class Members. Exro disputes the allegations contained in the statement of claim, and intends to defend the claim vigorously. Anuncio • Nov 06
Exro Technologies Inc. to Report Q3, 2024 Results on Nov 13, 2024 Exro Technologies Inc. announced that they will report Q3, 2024 results After-Market on Nov 13, 2024 Anuncio • Sep 13
Exro Technologies Inc. has completed a Composite Units Offering in the amount of CAD 25.00015 million. Exro Technologies Inc. has completed a Composite Units Offering in the amount of CAD 25.00015 million.
Security Name: Units
Security Type: Equity/Derivative Unit
Securities Offered: 71,429,000
Price\Range: CAD 0.35
Discount Per Security: CAD 0.028 Anuncio • Aug 14
Exro Advances Medium Duty Battery Electric Powertrain Integration with Coil Driver™ Project Exro Technologies Inc. announced progression in its integration project of Exro's Coil Driver™ inverter technology with Exro's proprietary EV propulsion system that powers SEA 5e, a Class 5 Battery Electric Truck that is built on Hino's Class 5 Rolling Cab Chassis. The pilot project is a key step towards commercialization and enables a cost-effective powertrain that supports the mission to reduce costs in commercial electric vehicles, bringing electric vehicles to parity with combustion engines. Exro's 120a propulsion system, controlled by the Coil Driver inverter, can increase system efficiency and reduce costs. By optimizing the performance of powertrains with right-sized, differentiating technology, the result is real-world driving with unparalleled efficiency. The integration offers flexibility in packaging, allowing multiple truck bed configurations from the existing 173" platform currently in production to a 150" wheelbase in demand by large national fleets under development for release to customers by First Quarter 2025. The transportation sector targets significant emission reduction targets. The goals behind the project align with the regulatory landscape shaped by the Advanced Clean Truck ("ACT") and Advanced Clean Fleet ("?") standards. These regulations, adopted in California and several other states, mandate a gradual increase in zero-emission vehicles ("ZEVs") in commercial fleets starting from 2024. By incorporating Coil Drive inverter technology, Exro is contributing to the broader adoption of ZEVs. This collaboration supports compliance with the ACT and ACF regulations and promotes emissions reduction from the commercial transportation sector. The enhanced efficiency and cost-effectiveness of the Coil Driver-enabled propulsion system make electric trucks a viable option for fleet operators, accelerating the transition to cleaner transportation solutions. Anuncio • Jan 31
Exro Technologies Inc. (TSX:EXRO) agreed to acquire SEA Electric LLC for approximately $300 million . Exro Technologies Inc. (TSX:EXRO) agreed to acquire SEA Electric LLC for approximately $300 million on January 29, 2024. As per the terms, the combined company will continue to operate under the name Exro Technologies Inc. and trade on the Toronto Stock Exchange (the "TSX") under the ticker symbol "EXRO". As a part of consideration, Exro will issue, based on Exro's weighted average common share price over the 10 trading days ending January 26, 2024, of $0.7680 per share, a combination of common shares (the "Exro Common Shares") and non-voting convertible preferred shares (the "Exro Convertible Shares") to SEA stockholders. Pursuant to the Merger Agreement, SEA stockholders will receive approximately 153.8 million Exro Common Shares and 168.7 million Exro Convertible Shares, on a non-diluted basis and excluding existing SEA shares held by Exro, resulting in total implied consideration issued to SEA stockholders of approximately $248 million in aggregate, based on the Reference VWAP. In addition, Exro will assume approximately $46 million in SEA net debt as part of the Transaction. The Exro Convertible Shares will be convertible into Exro Common Shares on a one-for-one basis without payment of any additional consideration and upon the satisfaction of certain conditions. The transaction is subject to Exro Technologies Inc. shareholders approval and has received the requisite approvals from SEA stockholders. Also, the transaction is subject to customary closing condition. Upon completion of the Transaction, Sue Ozdemir will remain as Chief Executive Officer, Tony Fairweather will join Exro as the Chief Product Officer, and Darrell Bishop will become Chief Financial Officer. The board of directors of the Combined Company will consist of up to nine members with Rod Copes serving as Chair and the remaining directors comprised of representatives from both Exro's and SEA's current boards of directors. A termination fee of approximately $11.4 million is payable by Exro Technologies Inc. to SEA Electric LLC if the Merger Agreement is terminated in certain circumstances, including if Exro Technologies Inc. enters into a superior proposal, and Exro Technologies Inc. is entitled to a reverse termination fee of approximately $11.4 million from SEA Electric LLC if the Merger Agreement is terminated in certain circumstances. National Bank Financial Inc. acted as a financial advisor and fairness opinion provider and, Neville J. McClure of Stikeman Elliott LLP and Jason Brenkert of Dorsey and Whitney LLP acted as a legal advisor to Exro Technologies Inc. . Canaccord Genuity Corp. and Eight Capital acted as a financial advisor to SEA Electric LLC and, Gibson, John T. Gaffney and Michelle M. Gourley of Dunn and Crutcher LLP and Blake, Michael Gans and Jacob Gofman of Cassels and Graydon LLP acted as a legal advisor to SEA Electric LLC. The Transaction is expected to close by the end of first quarter of 2024. Anuncio • Jun 23
Exro Technologies Inc. Files Two New U.S. Provisional Patent Applications Exro Technologies Inc. announced a corporate update regarding two new patent applications strengthening its intellectual property ("IP") position. In addition to prioritizing delivery of the Company's motor and battery control products, Exro has been diligently working on advancing several new technologies, which includes two new U.S. provisional patent applications on an electric vehicle powertrain architecture. The Company's first U.S. provisional application builds on the Company's Coil Driver and Cell Driver™ foundation by combining its two advanced power electronics capabilities (motor and battery control) with predictive control algorithms to deliver significant benefits to EV propulsion. This includes up to 2x increase in battery cell life, seamless integration of fuel cells without requiring additional DC-DC conversion, high level of fault tolerance, as well as the benefits that Coil Driver™ and Cell Driver™ bring individually, including range and system performance increase. While there is growing market demand for hydrogen fuel cell applications, adoption is limited by overall costs; the patent presents a solution to reduce costs and increase performance in these applications. Exro's second U.S. provisional application is directed to a harmonic motor controller or current source. Today, what is considered state-of-the-art motor control is field-oriented control ("FOC"). FOC measures a motor current and calculates the right voltage to apply to the machine to control current and torque. Though a strong concept, it presents key limitations in addressing real-world motor control challenges, particularly motor harmonics. In contrast, Exro's technology replaces the calculation of the switch states performed by FOC with a proprietary algorithm to greatly simplify motor control. As a result, the technology demonstrates high fault tolerance, responds dynamically to load or line changes, and ultimately improves harmonics across a wide variety of applications. This AC controller technology presents broad applicability to any scenario where DC-to-AC conversion is required. While Exro will continue to use trade secrets to protect proprietary software and algorithms, it will look to bolster software-related patent filings in the coming quarters. Anuncio • Jun 10
Exro Technologies Inc. Announces Jill Bodkin Will Not Be Standing for Re-Election as Board Director and Chair of the Audit Committee Exro Technologies Inc. announced that Jill Bodkin, Board Director and Chair of the Audit Committee, will not be standing for re-election due to planned retirement from Exro's Board. Anuncio • May 24
Exro Technologies Inc. announced that it has received CAD 34.93125 million in funding On May 23, 2023, Exro Technologies Inc. closed the transaction. The company amended the terms of the transaction. The company issued 15,525,000 common shares at an issue price of CAD 2.25 per share for the gross proceeds of CAD 34,931,250. In consideration for the services provided by the underwriters in connection with the transaction, on closing of the transaction the company paid to the underwriters a cash commission equal to 6% of the gross proceeds raised in the transaction. Anuncio • May 16
Exro Technologies Inc. announced that it expects to receive CAD 30.375 million in funding Exro Technologies Inc. announced that it has entered into an agreement with a syndicate of underwriters co-led by Canaccord Genuity Corp., Stifel Nicolaus Canada Inc. and Eight Capital and bought deal financing to issue 13,500,000 common shares at an issue price of CAD 2.25 per share for the gross proceeds of CAD 30,375,000. The company has granted the underwriters an option to purchase up to an additional 2,025,000 common shares to cover overallotments, if any, and for market stabilization purposes at a price of CAD 2.25 per overallotment option common share for additional gross proceeds of up to CAD 4,556,250, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing date. The transaction is scheduled to close on or about May 23, 2023, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the Toronto Stock Exchange and the securities regulatory authorities. Anuncio • May 20
Exro Technologies Inc Announces That It Has Successfully Completed Its Pilot Battery Control System in an Operating Second Life Energy Storage Environment Exro Technologies Inc. announced that it has successfully completed its pilot Battery Control System ("BCS") in an operating second life energy storage environment. The BCS pilot was tested in a 25kW 150kWh Energy Storage System with aftermarket battery cells, multiple inverters, and a grid level simulator. A 25kW 150kWh Energy Storage System is often found powering a small commercial space like offices or storage facilities. The ESS balanced all battery cells operating with different states of charge successfully at full depth of discharge. Successful cell balancing from different states of charge enables the utilization of second life battery applications. This achievement validates that the BCS can optimize batteries for efficient second life operations. Exro's patented Battery Control System is an innovative battery management inverter combined with an advanced cell control software that can expand the capabilities of batteries by enabling a greater depth of control on the cells. The battery cells in an electric vehicle reach end of life usually within five to ten years, depending on battery conditions. These batteries can be optimized and repurposed into an Energy Storage System for a new second life. Exro's BCS has been developed on the foundation of repurposing batteries into an ESS but can also be utilized as an effective solution for first life applications. The Company will now move forward to validate the BCS modular design in a grid connected 250kW 1.5MWh ESS by the end of 2021 and define performance metrics for state of health and extending battery life. A 250 kW 1.5MWh ESS is often found powering industrial mid-size facilities and utilities. The Exro BCS design will be able to scale from small commercial to large industrial applications. In parallel, the Company is building the BCS platform with the intent to launch commercialization of Exro powered ESS solutions in 2022. Anuncio • Feb 10
Exro Technologies Inc. Strengthens Partnership with SEA Electric Pty Ltd. to Accelerate Development of Exro's Battery Control System Exro Technologies Inc. announced that it has expanded its strategic partnership with SEA Electric Pty Ltd. to accelerate development of Exro's Battery Control System ("BCS"). The expanded strategic collaboration agreement (the "agreement" or "collaboration") includes SEA Electric providing Exro with two electric delivery vans to showcase Exro's Battery Control System and facilitate second-life battery storage by the second half of 2021. With a focus on utilizing electric truck batteries for energy storage applications, Exro and SEA will co-develop the BCS for operational validation. The agreement expands on the initial scope to commercialize the Exro Coil Driver in SEA's electric trucks to now include a Class 8 electric truck for the Canadian market and volume production targets of 400 trucks minimum by the second-year post validation. The Company and SEA Electric will co-demonstrate the Exro-enhanced electric fleet trucks in the North American market by the second half of 2021. This widened collaboration will significantly accelerate development of Exro's Battery Control System and identify a key end of first-life battery source. It will also highlight a true example of the circular economy and how Exro can impact sustainability and energy consumption by extending batteries to a second life. Anuncio • Feb 05
LAND Electric Motorcycles to Order Up to 2,000 Coil Drivers from Exro Technologies Inc Exro Technologies Inc. announced that it has signed an agreement with LAND Electric Motorcycles to produce up to 2000 units of the Coil Driver this year. Exro and LAND have agreed to cooperate to optimize the powertrain for the District motorcycle with the Coil Driver. This integration is expected to improve performance for the District motorcycle and enable a new powertrain system solution in the emerging lightweight electric motorcycles industry. Exro will ship the first Coil Driver to LAND this February for vehicle integration and validation testing to be completed by second quarter of 2021. After vehicle integration is completed, Land will begin purchasing the Coil Driver for their motorcycles. Anuncio • Feb 04
Exro Provides Update on Coil Driver for Electric Cars with Potencia Exro Technologies Inc. announced an update on the Coil Driver for electric cars with Potencia Industrial, S.A. DE C.V. The in-house testing of the Potencia motor integrated with the Exro 100 Volt Coil Driver is complete and is being
packaged to ship this Friday. The testing was delayed prior to Christmas, but the team has worked hard to complete the integration and is looking forward to working alongside the Potencia team who will conduct rigorous testing to
ensure operational validation in an electric car application. Exro is looking forward to sharing the performance results as soon as they are completed in third quarter 2021 and continue to be very diligent on meeting major milestones for this collaboration. Anuncio • Jan 28
Exro Technologies Inc. Names Terence Johnsson to its Board of Directors Exro Technologies Inc. announced that Terence Johnsson has joined the Exro Board of Directors. Terence Johnsson has 35 years of professional experience at top levels of the world's largest automotive manufacturers. Terence officially retired as Vice President from Audi AG in 2019. Johnsson will help Exro to stay actively engaged with top leaders in automotive as well as provide guidance to revenue growth of the Coil Driver technology. Anuncio • Dec 30
Exro Technologies Inc. announced that it has received $4.407478 million in funding On December 29, 2020, Exro Technologies Inc. (TSXV:EXRO) closed the transaction. The company paid finder’s fees of $365,461 including 112,449 broker warrants. The transaction included participation from 3 investors, pursuant to exemption provided under Regulation D. Anuncio • Dec 16
Exro Technologies Inc. has completed a Follow-on Equity Offering in the amount of CAD 36.499999 million. Exro Technologies Inc. has completed a Follow-on Equity Offering in the amount of CAD 36.499999 million.
Security Name: Common Shares
Security Type: Common Stock
Securities Offered: 11,230,769
Price\Range: CAD 3.25
Discount Per Security: CAD 0.211 Anuncio • Nov 21
Exro Technologies Inc. Completes the Engineering Validation on the 100 Volt Coil Driver for Electric Cars Exro Technologies Inc. announce that it has completed the engineering validation on the 100 Volt Coil Driver for electric cars. Validation of the 100V Coil Driver engineering technology is a key milestone for Exro to delivering commercial products in the rapidly growing electric car markets. The 100V Coil Driver will deliver next generation performance in power and efficiency to mobility applications with electric powertrains. Testing has proven that the series to parallel algorithms driving the dynamic switching under load is operating as expected. Exro is on schedule to deliver a prototype to Potencia Industrial, S.A. DE C.V. ("Potencia") and maximize performance in operating applications. Potencia is one of Mexico's largest motor manufacturers with over fifty years of experience specializing in custom applications like the new Pronto Power electric powertrain. With over one million miles traveled, the Pronto Power is leading the transition of electric fleet vehicles in Latin America. Anuncio • Oct 08
Exro Technologies Inc. Increases Performance of Electric Bikes in Independent Field Tests Exro Technologies Inc. announced third-party testing has proven its patented Coil Driver technology dramatically improves performance of electric bikes. Motorino Electric, the Vancouver-based manufacturer and distributor of electric bikes and motorcycles, tested Exro's technology through 2020 against a standard electric bike in the field. Testing found that the Exro-enhanced electric bike saw its performance increase by more than 20% and up to 50% in climbing conditions. Exro will now start negotiations on a commercial product for 2021. Anuncio • Sep 30
Julie (McCoy) Wurmlinger Joins Exro Technologies Inc.'s Board of Directors Exro Technologies Inc. announced that Julie (McCoy) Wurmlinger, an accomplished engineering leader in the automotive industry, has joined the Exro Board of Directors. As a retired Global Chief Engineer from Ford Motor Company and current President/Owner of OhmTek, LLC, with more than 30 years of experience, Ms. Wurmlinger brings a global perspective to innovation and product development in the powertrain sector. Ms. Wurmlinger began working in product development at Ford Motor in 1986 and quickly grew from engineer to manager, while being awarded three patents for powertrain innovations. She then continued to impact Ford's leading powertrain systems through her tenure as Global Chief Engineer, winning the SWE Global Leadership Award and UK "Business Insider" Top Female Engineer Award. Ms. Wurmlinger has lived and worked overseas extensively and has managed several global business units since 2010. Since retiring from Ford Motor in 2018, Ms. Wurmlinger has launched OhmTek, LLC, a Technical Consulting firm, specializing in automotive and electrical engineering solutions. Anuncio • Sep 26
Exro Technologies Inc. Initiates Collaboration with Heinzmann GMBH & Co. KG Exro Technologies Inc. announces it has initiated a collaboration with Heinzmann GMBH & Co. KG ("Heinzmann") to integrate Exro's patented coil drive technology into micro mobility applications. Exro and Heinzmann will collaborate to integrate Coil Drive technology with Heinzmann's advanced motor designs for mobility applications. The agreement will involve motor technology and integration support from Heinzmann, while Exro will provide testing, power electronics design, and supply. Exro's Coil Driver will improve the speed range and torque output capabilities of Heinzmann's traction applications. This provides new possibilities for optimizing powertrains to improve performance in gradeability, power density and top speed. Micro mobility is projected to be a transformational factor in the adoption of electric mobility in cities globally. With an overall market size of USD 19 billion and CAGR of 8.23% to 2025, the two companies are positioning themselves at critical time in this market. Anuncio • Jul 17
Exro Technologies Inc. has completed a Composite Units Offering in the amount of CAD 8 million. Exro Technologies Inc. has completed a Composite Units Offering in the amount of CAD 8 million.
Security Name: Units
Security Type: Equity/Derivative Unit
Securities Offered: 11,428,571
Price\Range: CAD 0.7
Discount Per Security: CAD 0.056
Transaction Features: Regulation S