Exro Technologies (TSX: EXRO) (OTCQB: EXROF), a leading clean-technology company that has developed new-generation power control electronics which expand the capabilities of electric motors and batteries, is reporting on its financial results for period ending Dec. 31, 2022. Highlights of the report include revenue of $2.2 million for the year, the successful completion of phase one of EXROF’s integrated e-axle co-development program with strategic partner and major tier-1 OEM supplier Linamar Corporation, and the completion and delivery of multiple projects by Exro Vehicle Systems Inc., a service arm of the company that provides vehicle integration solutions for automakers pursuing electrification. In addition, the company closed its convertible debenture financing, resulting in gross proceeds of $15 million and, as of March 30, 2023, is reporting a “strong financial position. . . supported by the exercise of approximately 4.7 million warrants in Q1 2023 for proceeds of approximately $6.9 million.”
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About Exro Technologies Inc.
Exro Technologies is a leading clean-technology company that has developed new-generation power control electronics that change how the world optimizes energy by expanding the capabilities of electric motors and batteries. The company’s innovative technologies serve to bridge the performance-cost gap in e-mobility (Coil Driver) and stationary energy storage (Cell Driver), and act to accelerate adoption toward a circular electrified economy by delivering more with less — minimum energy for maximum results. For more information about the company, please visit www.Exro.com.
NOTE TO INVESTORS: The latest news and updates relating to EXROF are available in the company’s newsroom at http://ibn.fm/EXROF
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