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Partners & Customers: Past and Present
…but with the usual sliver of promise EXRO ended 2024 with mixed results that fell far short of early-year expectations. When announcing its merger with SEA Electric in early 2024, EXRO forecasted over $200 million in annual revenue, largely based on delivering up to 1,000 SEA-Drive® electric propulsion systems. However, actual results told a different … Read more
A Potential Game-Changer for EXRO Technologies EXRO announced in August 2024 a strategic agreement under its CELLEX subsidiary, involving a binding purchase order for ten Cell Driver™ pilot units. While EXRO has not disclosed the name of its new Energy-as-a-Service (EaaS) partner, a coincidentally timed article also from August 2024 on Facilities Dive suggests that … Read more
On February 3, 2025, EXRO announced that its innovative technology is being installed and tested on an International eMV truck. Detailed in the press release/shareholder letter and shared via an X post from EXRO Technologies, the current development is currently limited to this single trial unit, but the press release also notes that if the … Read more
In September 2019, Shareholders were excited when EXRO publicly disclosed the first partnership under new CEO Sue Ozdemir, signing a licensing agreement with Motorino Electric. Motorino was described as a “pioneer in the Canadian electric transportation industry” with an extensive product line of electric bicycles, scooters, and motorcycles. The agreement centered around EXRO’s Coil switching … Read more
Overview of EXRO’s Analyst Day EXRO Technologies hosted its inaugural Analyst Day on November 14, 2024, offering insights into its technology, financials, and future outlook. The company’s leadership emphasized resilience in navigating the challenges of the electrification market while positioning EXRO for long-term growth. Investors gained some clarity on EXRO’s three revenue streams: propulsion systems, … Read more
EXRO’s Coil Driver™ technology is central to several key partnerships and product integrations. These collaborations have significant implications for the technology’s long-term success. Below is an overview of how EXRO, HB4, SM4E, and Casalini are interconnected and what it means for EXRO’s future. EXRO’s Coil Driver™ Technology HB4 Group Partnership SM4E Motors Casalini Integration We … Read more
The establishment of CELLEX Energy Inc., as a subsidiary of EXRO Technologies, in June of 2024 has generated significant speculation and discussion among long-term investors regarding a potential sale or spin-off of the Cell Driver™ technology. This analysis explores the likelihood of such a transaction, the potential structure it could take, and the strategic implications … Read more
Understanding Takeovers and Buyouts
A buyout, also known as an acquisition, involves one entity purchasing a significant portion or all of a company’s shares to gain control.
Investors often have questions about the warrants issued by EXRO. This guide will clarify key aspects to help you understand them better. Please note all dollar values are in CAD. What is a Warrant? A warrant is an option that allows the holder to buy a share directly from the issuing company by paying the … Read more
The fast-evolving electric vehicle (EV) industry thrives on collaborations that drive innovation. Linamar Corporation, a global manufacturing leader, joined forces with EXRO Technologies, known for coil driver technology. Their partnership aims to deliver a commercially available e-axle with integrated coil driver technology by the end of 2024. However, as the year ends, the product remains … Read more
