November 17, 2021 News Release: “EXRO has successfully integrated the 100V CD into its second electric vehicle, this time with an emerging growth NDA partner developing electric compact cars for the European market” [Later confirmed to be HB4/Casselini]
January 17, 2023 Shareholder Letter that appears to confirm the NDA
March 4, 2021 News Release: EXRO to exhibit 3 Demo vehicles at CES 2022 [Polaris UTV, Zero Motorcycle, Humvee]
On March 25, 2023, EXRO delivered an initial batch of low-voltage DFM samples to Italian OEM supplier and partner HB4. These samples have been integrated into vehicles (a truck and passenger car) and showcased in recent European trade shows.
August 10, 2023 News Release regarding quarterly report (2Q2023)
September 6, 2023 News Release: Start of Series Production – Calgary
In September, we launched Coil Driver production and have completed initial deliveries to HB4 in Italy
“While low volume, this first order not only helps to ensure operational excellence by operating our production line but launches our 12-month manufacturing qualification to be automotive certified.” [IATF16949]
Feedback from the early adopters of our technology has been overwhelmingly positive with initial purchase orders received (and deliveries begun) with several customers, including Vicinity Motor Corp., HB4, Giaffone, MegaFlux/Potencia, and others.
March 6, 2024 News Release: Corporate update with Letter to Shareholders
After several years of co-development and successful initial deliveries, EXRO and HB4 S.r.l. of Capri, Italy have entered into EXRO’s first technology licensing agreement
The first application of the intellectual property license will be in Casalini vehicles, which will soon hit Italian roads, demonstrating the practical and efficient capabilities of EXRO’s low-voltage Coil Driver inverter technology.
This licensing agreement aligns with EXRO’s focus on driving profitable revenue growth and will serve as a roadmap for future licensing opportunities for high-volume production with passenger vehicle OEMs.
This agreement is a non-exclusive arrangement that will allow EXRO’s low-voltage Coil Driver technology to be coupled with HB4’s SM4E motors to form a new low voltage powertrain solution