- Stock
options allow select individuals to purchase shares pursuant to company’s
stock-option plan
- Exro
has developed, commercialized electric power module that integrates into
existing motor systems resulting in better performance
- Possibilities
for use of Exro’s unique technology, efficiency optimization algorithms
are widespread
Exro Technologies Inc. (CSE: XRO) (OTCQB: EXROF), an
innovative pioneer in the energy sector, announced that it has granted
incentive stock options to specific directors, officers, employees and
consultants (http://ibn.fm/XPiQJ).
The announced stock options allow select individuals to
purchase an aggregate of 735,000 shares in the capital of Exro at a price of
$0.375 per share, pursuant to the terms of its stock-option plan. All options
are subject to vesting provisions, and any shares issued upon exercise of an
option will be subject to a hold period of four months and one day from the
date of grant.
The stock options were announced after Exro closed the
second and final tranche of its oversubscribed, non-brokered private placement
financing in February. The company raised more than $4 million through the
issuance of 12,284,545 common shares (http://ibn.fm/LeH6A).
Recognized for its innovation, Exro has developed and
commercialized an electric power module (EPM) that integrates into existing
motor systems resulting in better performance. Exro’s patented technology
optimizes a motor performance by automatically sensing and adapting operating
parameters to an optimized state and creating measurable efficiency gains,
reduced mechanical components and increased system availability.
Exro’s proprietary, patented software controls electric
motor coils through individual coil switching. This introduction of
intelligence into energy conversion at the individual-coil level produces
expanded speed/torque capability as well as improved machine efficiency,
reliability, safety and maintenance. Exro’s advanced-control algorithms create
smart, real-time, optimized power management.
The possibilities for use of Exro’s unique technology and
efficiency optimization algorithms are widespread. The company is evaluating
potential use in optimizing performance of electric vehicles, locomotive
traction applications, industrial motors and UAVs, as well as industrial motors
and energy capture from wind and tides.
Currently, electric motors are the single biggest consumer
of electricity – accounting for an estimated two-thirds of industrial power
consumption and approximately 45% of global power consumption, according to an
analysis by the International Energy Agency. With Exro’s technology, industries
have new options available as they evaluate how to improve energy consumption.
Exro currently holds 15 patents, with 8 patents pending and
additional patents under development. The company focuses on facilitating the
transition to clean energy by providing manufacturers with the products and
services necessary to increase the efficiency and reliability of power systems,
including electric motors, generators and batteries.
Exro’s patented technology enhances energy systems by
dynamically sensing and adapting variable inputs and optimally matching them to
desired outputs, creating measurable performance gains and extended lifespan.
The company continues to expand its IP portfolio to support its goal of
becoming a globally recognized leader in leveraging advanced control algorithms
to improve the performance, efficiency and longevity of electric motors and
generators.
For more information, visit the company’s website at 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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www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
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