Exro Technologies (TSX: EXRO) (OTCQB: EXROF), a leading clean-technology company that has developed a new class of power electronics for electric motors and batteries, announced that its Coil Driver(TM) technology has received a second industry award; Exro was named the winner of the 2022 Engine Tech Innovation of the Year by AutoTech’s 2022 Breakthrough Awards. The award was based on Coil Driver’s ability to bridge the performance-cost gap by delivering more power, speed, torque and range at a lower cost of ownership. In awarding the honor, AutoTech noted that currently auto manufacturers use multiple motors and mechanical gear boxes to achieve different speed and torque profiles. Exro has successfully combined two traditionally separate formats of power electronics — the series mode for low-speed torque and parallel mode for high-speed efficiency. The award stated that “with its ability to improve performance, reduce costs, and increase range, Coil Driver will bridge the automotive industry’s gap to electrification.” Run by the Tech Breakthrough organization, a leading market intelligence and recognition platform for the most innovative technology companies in the world, the AutoTech Awards recognize the top technology companies, services and products available, which are driving rapid change in the field of transportation and automotive technology. “It is an honor for Exro to be recognized by AutoTech amongst the automotive industry’s most established and innovative technology companies,” said Exro CEO Sue Ozdemir in the press release. “Following our Edison Gold Award earlier this year, this is the second major industry award our Coil Driver has received in 2022, further independently validating that our technology is proven, de-risked and ready to seize a significant market opportunity as the world looks to accelerate a transition to a more sustainable electrified future. The Coil Driver is a differentiator in the e-mobility space, and like the product recognition by organizations such as AutoTech, we are seeing a growing demand from transportation industry players.”

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About Exro Technologies Inc.

Exro Technologies Inc. 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 DriverTM) and stationary energy storage (Cell DriverTM), and act to accelerate adoption towards 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.

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