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Exro signs product development agreement with global equipment supplier

CALGARY — Exro Technologies Inc., a clean technology company that has developed power control electronics that expand the capabilities of electric motors and batteries, announced that it has signed a new product development agreement with a major global equipment supplier. The partner remains under non-disclosure agreement (NDA), to be named at a future time. The agreement includes development and delivery of an engineered-to-order system incorporating Exro’s proprietary Coil-Driver(TM) inverter for a new hybrid diesel-electric product for off-highway application (for example: agriculture, construction, mining, etc.).

“This new product development is a perfect example of how Exro is innovating solutions with customers that bridge the performance-cost gap to electrification,” said Exro CEO Sue Ozdemir. “Our partner is a global leader in its space and looking to evolve its currently fully diesel line-up into the future. A successful development that demonstrates our already proven capabilities in other applications opens a huge door with this yet-to-be-named partner, as well as many other industries with a similar challenge to solve.”

Exro’s Chief Technology Officer, Eric Hustedt added, “The reality is that due to certain performance requirements, not all applications can easily flip to fully electric today. Moving to a hybrid set-up is a logical next-generation step. The Coil Driver is perfect for this type of application, easily providing the high torque required for starting diesel engines without sacrificing motoring and generating capability once the engine is running. Utilizing the unique features native to the Coil Driver, the customer can operate the diesel-electric powertrain at optimal efficiency for better performance and lower emissions, while experiencing significant fuel savings versus straight diesel.”

Exro has been collaborating with the major European-based company under NDA to develop a hybrid diesel-electric powertrain, a new product offering for the partner’s vehicle line-up. The agreement will begin with the supply of multiple sample units to be delivered to the customer by the end of Q1 2023. After successful testing and validation, it is anticipated that the development agreement would transition into an agreement to supply the NDA partner with series production products beginning in 2024. The conditional agreement is highlighted by projections of 8,000-10,000+ units annually.