EXRO TECHNOLOGIES INC - EXROF STOCK NEWS

Exro Technologies (EXROF) shares an update from its CEO detailing the company's solid progress and strategic plans for 2022. Key highlights include successful capital raising, conditional approval for a NASDAQ up-list, and a focus on increasing product testing capacity. Exro plans to deliver Coil Driver pilots to customers and has begun discussions on purchase orders, indicating strong customer demand. The company emphasizes ongoing product development and market expansion, with a goal of securing over $31 million CAD in funding to support growth initiatives.

ePropelled has updated stakeholders on its patent infringement lawsuit against Exro Technologies Inc. filed on January 21, 2022. ePropelled claims its Dynamic Torque Switching™ technology is infringed by Exro's Coil Drive System™. After notifying Exro of the alleged infringement via U.S. Patent No. 7,382,103, ePropelled proceeded with legal action due to Exro's inadequate response. The company emphasizes its leadership in electric propulsion systems and commitment to advancing EV technology.

Exro Technologies Inc. (TSX: EXRO, OTCQB: EXROF) issued a response to ePropelled Inc.'s January 21, 2022 patent infringement lawsuit. Exro confidently defends its intellectual property rights and claims that ePropelled's lawsuit is without merit. Exro asserts that it promptly addressed ePropelled's inquiry, but the latter proceeded with the lawsuit without further communication. The company emphasizes its commitment to innovation in the electric mobility sector amidst these legal challenges.

Exro Technologies (TSX: EXRO) (OTCQB: EXROF) has responded to a patent infringement lawsuit filed by ePropelled Inc. on January 21, 2022, in Massachusetts. The company asserts that the lawsuit is without merit and is prepared to defend itself vigorously. Legal counsel has already been engaged to address the claims. Exro is a clean technology firm focused on innovative control solutions for electric motors and batteries, aiming to enhance energy efficiency in electrification.

ePropelled, a Massachusetts-based technology company specializing in electric propulsion systems, has filed a patent infringement lawsuit against Exro Technologies Inc. on January 21, 2022. The lawsuit, filed in the U.S. District Court for Massachusetts, seeks to protect ePropelled's eDTS™ technology, which enhances electric motor efficiency, enabling high torque at low speeds and increasing electric vehicle performance. ePropelled emphasizes its commitment to defending its intellectual property, having invested millions over the past decade in developing this core technology.

Exro Technologies has announced an all-virtual presentation for the 2022 Consumer Electronics Show (CES) due to the COVID-19 omicron variant. CES registrants can explore Exro's digital booth from January 5-7, 2022, showcasing its innovations including the Coil Driver and Battery Control System technologies. CEO Sue Ozdemir will conduct a live booth tour on January 6, 2022, at 10 AM PST. Attendees can also book meetings with Exro experts and participate in virtual giveaways. Exro aims to demonstrate its electric vehicle technologies and engage stakeholders virtually.

Exro Technologies (TSX: EXRO, OTCQB: EXROF) has partnered with Untitled Motorcycles to integrate its 100 Volt Coil Driver technology into the XP Zero electric motorcycle. This partnership aims to enhance the motorcycle's performance, achieving a 25% increase in power and a 15% increase in torque, boosting torque from 140ftlb to 162ftlb. The XP Zero accelerates from 0-60 mph in just 3.7 seconds. The unveiling will occur at CES 2022 in Las Vegas from January 5-8, where the modified motorcycle will be displayed at booth 6019.

Exro Technologies has filed a final short form base shelf prospectus with Canadian regulatory authorities, allowing potential offerings of up to C$200,000,000 in securities over the next 25 months. This filing aims to provide the company with flexibility to capitalize on favorable market conditions. Following a preliminary prospectus announced on November 18, 2021, the final document has received regulatory receipt. Exro's innovative clean technology focuses on power electronics for electric motors and batteries, enhancing energy efficiency.

Exro Technologies has entered into a development partnership with ev Transportation Services to repurpose batteries from evTS' FireFly ESV for second-life energy storage applications. This pilot project aims to extend battery life by 5-10 years using Exro's Energy Storage System, which features its patented Battery Control System technology. The initiative supports sustainability by reducing battery waste and enhancing energy efficiency. Exro also plans to optimize first-life battery use for FireFly ESV, showcasing its innovative technology in the electric vehicle sector.