- Exro has entered into a supply agreement with Vicinity Motor
Corp. to validate and deploy an optimized electric powertrain
utilizing the Coil Driver™ technology for
Vicinity's suite of electric buses
- The optimized powertrain will bring enhanced electric buses
with improved performance to the public transit system
CALGARY, AB, April 27, 2021 /CNW/ - Exro Technologies
Inc. (TSXV: EXRO) (OTCQB: EXROF) (the "Company" or "Exro"), a
leading clean technology company which has developed a new class of
power electronics for electric motors and batteries, is pleased to
announce that it has signed a supply agreement with Vicinity Motor
Corp. ("Vicinity" or "VMC") to deploy Exro enhanced electric
buses.
Vicinity Motor Corp. (formerly Grande West Transportation
Group) is a leading supplier of advanced shuttle
transportation vehicles for public and commercial use. With
operations in Canada and the US,
VMC has established significant market penetration and a large
backlog of bus orders. Vicinity's flagship product line, the
Vicinity Bus, is a purpose-built electric bus revolutionizing
sustainable public transit with next generation components.
Exro will supply the Coil Drive System technology and Vicinity
will conduct operational validation through deployment of an
optimized electric powertrain for VMC's suite of electric buses.
The Coil Drive System solution will enable the next generation of
electric buses with improved performance that accelerates the
transition to a sustainable public transit system. VMC will test
and validate the Coil Driver™ powertrain
integration with the intent of implementing it in future serial
production batches of the electric bus product line.
"We are constantly searching for innovative new ways to provide
a best-in-class experience for our customers, delivering
leading-edge technology at a price point suitable for mass
deployment across small and large fleets," said William Trainer, Founder and Chief Executive
Officer of Vicinity Motor Corp. "Testing of the Coil Drive System,
which offers lower energy consumption and high performance relative
to existing systems, could prove to be an exciting competitive
advantage and further extend the range of our electric buses."
"We are thrilled to bring enhanced electric buses to the market
alongside Vicinity", said Sue
Ozdemir, Chief Executive Officer of Exro. "This commercial
partnership highlights our dedication to bring the Coil
Driver™ to emerging electric mobility markets and
provide our partners with a clear edge over the competition."
About Exro Technologies Inc.
Exro is a clean technology company pioneering intelligent
control solutions in power electronics to help solve the most
challenging problems in electrification. Exro has developed a new
class of control technology that expands the capabilities of
electric motors, generators, and batteries. Exro enables the
application to achieve more with less energy consumed.
Exro's advanced motor control technology, the Coil
Driver™, expands the capabilities of powertrains by
enabling two separate torque profiles within a given motor. A major
advancement in the sector, dynamic motor configuration enables
efficiency optimization for each operating mode resulting in
reduction of energy consumption. The controller automatically
selects the appropriate configuration in real time so that power
and efficiency are intelligently optimized.
For more information visit our website at www.exro.com.
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ON BEHALF OF THE BOARD OF DIRECTORS
Sue Ozdemir, Chief Executive
Officer
About Vicinity Motor Corp.
Vicinity Motor Corp. (TSXV: VMC) (OTCQX: BUSXF) (FRA: 6LG) is a
leading supplier of electric, CNG, gas and clean-diesel buses for
both public and commercial enterprise use in the U.S and
Canada. The Company's flagship
line of Vicinity™ buses, which maintain a dominant market share in
Canada, are produced by the
Company's world-class manufacturing partners or at the Company's
Buy America Act compliant assembly facility in Washington state. The Company's innovative
Vicinity Lightning™ EV bus, enabled through a tier-1 strategic
supply agreement with BMW batteries and components, seeks to lead
the global transition to more sustainable transit vehicles in the
private and public markets. For more information, please visit
www.grandewest.com or www.vicinitybus.com for product
details.
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 by the use of 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.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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SOURCE Exro Technologies Inc.