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Exro Receives First Pilot Order for Battery Energy Storage and Lifts NDA with Brazilian Partner Giaffone Electric Backed by Purchase Order

Newswire.ca - Mon Nov 20, 2023

At a Glance:

CALGARY, AB, Nov. 20, 2023 /CNW/ - Exro Technologies Inc. (TSX: EXRO) (OTCQB: EXROF) (the "Company" or "Exro"), a leading clean-technology company that develops new generation power-control electronics that expand the capabilities of electric motors and batteries, today announced a significant milestone in its first in-field pilot location for its Cell Driver Energy Storage System in partnership with post-secondary institution Red Deer Polytechnic, in Central Alberta. Exro is also pleased to announce moving Brazilian partner Giaffone Electric ("Giaffone") out of a nondisclosure agreement ("NDA"). This milestone is marked by purchase order commitments for Exro's 800 Volt Coil Driver System to be integrated into Giaffone electric commercial vehicles with initial deliveries beginning in Q4 2023.

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