Exro Technologies Inc (CVE:EXRO) (OTCQB:EXROF), a leading technology company that has developed a new class of power electronics for electric motors and powertrains, has announced third-party testing has proven its patented Coil Driver technology dramatically improves the performance of electric bikes.
Motorino Electric, a Vancouver-based manufacturer and distributor of electric bikes and motorcycles, tested Exro's technology through 2020 against a standard electric bike in the field, Exro said in a statement Wednesday.
Testing found that the Exro-enhanced electric bike saw its performance increase by more than 20% and up to 50% in climbing conditions, the company noted.
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As a result, Calgary-based Exro said it will now start negotiations on a commercial product for 2021.
"The Exro-enhanced electric bike performed up to 50% better in climbing conditions during testing," said Steve Miloshev, founder and CEO of Motorino in a statement. "The Exro bike was noticeably more advanced going up the hills specifically, it sustained consistent high torque and speed immediately from the start all the way to the top of the hills. Our standard electric bikes were no match for it in a race through Vancouver."
Exro said its Coil Driver technology can be added to an electric vehicle powertrain to make electric motors faster, stronger, and smarter. The electric bike field-tests results now indicate that Exro can be transformative for the quickly growing electric bike and electric scooter market, which Allied Market Research reports will exceed US$23 billion by 2025.
"This is an amazing breakthrough not just in electric bike technology but also for micro-mobility applications," said Exro CEO Sue Ozdemir. "We couldn't be more excited. This changes the model for enhancing the performance of electric bikes and other micro-mobility applications, to ensure we get more from the energy we put into batteries. I'm looking forward to moving into product commercialization for next year."
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