logo-loader
viewExro Technologies

Exro Technologies strikes deal with Clean Seed Capital to bring its tech to the agricultural sector

The pair will produce a working prototype to be implemented in the field by 2021 so farmers will be able to reduce power needed to run Clean Seed's revolutionary farm tools

Exro Technologies -
"This is another step in the commercialization of Exro's technology that will expand the capabilities of the world's electric motors," said CEO Sue Ozdemir

Exro Technologies Inc (CSE:XRO) (OTCMKTS:EXROF) has revealed it is further commercializing its technology as it unveiled a tie-up with Toronto-listed Clean Seed Capital Group Ltd (CVE:CSX) to enhance the latter's high-tech agricultural seeder and planter platforms.

The pair will produce a working prototype to be implemented in the field by 2021 so farmers will be able to reduce power needed to run Clean Seed's revolutionary farm tools, the company said.

Exro is focused on the world’s transition to clean energy by providing products, which increase the efficiency and reliability of power systems, including electric motors, generators and batteries.

READ: Exro Technologies boss committed to closing eight strategic partnerships by the end of 2020

"This is another step in the commercialization of Exro's technology that will expand the capabilities of the world's electric motors," Exro's CEO Sue Ozdemir told investors in a statement.

"Clean Seed is a pioneer in improving the efficacy and sustainability of farming. With this new agreement, we will, together, electrify the industry to maximize its potential, driving better productivity and efficient use of energy," she added.

Ozdemir noted that the Clean Seed agreement represented Exro's fifth commercialization deal. She took the helm at Exro in September last year after serving as CEO of General Electric's industrial motors division.

"As we have set out in our company plan, we have now strategically placed Exro's technology with respected leaders in the agriculture, automotive, marine, recreational and electric-bicycle markets," noted the company boss.

"This worldwide exclusive collaboration and supply agreement with Exro will set new benchmarks in the electrification of agriculture," added Graeme Lempriere, CEO of Clean Seed, which is based in Burnaby, British Columbia.

Shared added nearly 7% on the day to stand at C$0.46 in Toronto.

---Updates for share price---

Contact the author at [email protected] 

Quick facts: Exro Technologies

Price: 1.12 CAD

CSE:XRO
Market: CSE
Market Cap: $92.83 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Exro Technologies named herein, including the promotion by the Company of Exro Technologies in any Content on the Site, the Company receives...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Exro Technologies signs deal with Clean Seed to improve...

Exro Technologies (CSE; XRO- OTCQB: EXROF) Chief Commercial Officer Josh Sobil joined Steve Darling from Proactive Vancouver to discuss the news the company has signed a deal with Clean Seed Technology to help with the horsepower and torque of their Smart Seeder. Sobil discusses how they plan...

on 05/21/2020

2 min read