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Exro Technologies looking to disrupt multibillion-dollar industries with electric energy technology

Snapshot

The Canadian firm is confident that it has the right suite of services and products to keep green energy flowing

lightbulb green energy

Quick facts: Exro Technologies

Price: 0.47 CAD

CSE:XRO
Market: CSE
Market Cap: $29.68 m
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  • Creates intelligent energy management systems
  • Global partnerships and licensing agreements
  • Operates in billion-dollar market segments that are ripe for disruption

What Exro Technologies does:

Exro Technologies Inc (CSE:XRO) (OTCMKTS:EXROF) is dedicated to enhancing the performance and efficiency of electrical and renewable power systems to accelerate the transition to clean energy around the world.

It may sound like a mammoth task, but the Vancouver, BC-based company is confident that it has the right suite of services and products to keep green energy flowing.

Currently, electric motors require some type of mechanical transmission to change the speed or torque range. Conventional motors operate through a single speed torque characteristic and one static efficiency curve. Battery-powered motors come with their own limitations.

Exro's technology improves energy systems by dynamically sensing and adapting varying inputs and matching them to desired outputs, creating performance gains and an extended lifespan.

The company’s patented technology is used in electric vehicles, unmanned aerial vehicles (UAVs) and ship drives. Each market is a multibillion-dollar industry, with the global electric engine market alone expected to hit over US$214 billion by 2025.

Most of its competition is companies that are developing a new motor. But while other companies must build a manufacturing facility and scale it to accommodate large volumes, Exro works within the existing power train.

How is it doing:

Exro took another step towards commercializing its electrical engine performance system, thanks to a new partnership with Canadian boat manufacturer The Templar Marine Group Ltd, which produces commuter electric boats such as water taxis and rental fleets.

Kicking off the partnership, Templar will integrate Exro’s system into its water taxis as a pilot project to see how it can increase the motor’s performance at high speeds, as well as improving the range through increased system efficiency.

It also delivered the first Exro-powered e-Bike to Motorino Electric in December.

On a corporate level, the firm tapped data innovator Steven Moon to be the company's chief product officer.

Moon will work to increase the adoption of Exro’s technology profile by the transportation, agriculture, heavy industry, energy, construction, automotive and recreational vehicle sectors.

Inflection points:

  • Licensing directly to multiple global suppliers of boats and ships
  • Growing sales in Europe
  • Goal for 2020 is to sign a minimum of eight deals in a variety of segments

What the boss says:

Exro's CEO Sue Ozdemir, the former head of GE’s industrial motors division, has a lifetime’s worth of experience in the engine industry, growing up in a motor repair shop and learning how to wind a motor as a child.

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

“We’ve signed three deals in the last few months and have teams in Europe getting us some good agreements for the new year. Our goal is to show the different market segments where our technology is usable to show the market that we are viable and scalable.”

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

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Full interview: Exro Technologies preparing for a busy 2020 after taking big...

Exro Technologies (CSE: XRO) CSE Sue Ozdemir sat down with Steve Darling from Proactive Vancouver to discuss the company’s plan for a very productive 2020. Ozdemir discussed what milestones she is looking at for 2020 which includes a number of deals. Ozdemir also told Proactive about a major...

1 week, 5 days ago

3 min read