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TICKERS: XRO; EXROF

Tech Firm Signs Deal to Advance Farm Equipment Electrification
News Update

Source:

Exro Technologies will integrate its technology into agricultural seeder platforms.

In a news release, Exro Technologies Inc. (XRO:CSE; EXROF:OTCQB) announced that it entered into its fifth commercialization agreement, this one in agriculture.

"As we have set out in our company plan, we have now strategically placed Exro's technology with respected leaders in the agriculture, automotive, marine, recreational and electric bicycle markets," Exro CEO Sue Ozdemir said in the release.

Exro, which provides products and services to manufacturers to increase the efficiency and reliability of power systems, agreed to integrate its electric motor-enhancing technology into Clean Seed Capital Group's SMART Seeder agricultural seeder and planter platforms.

Under the global, exclusive collaboration and sales agreement, Exro and Clean Seed, both based in British Columbia, will develop a working prototype "that will be implemented in the field by 2021," the release noted. Merging the technologies will decrease the power needed to run Clean Seed's tools that deliver row-by-row, variable rate seeding.

Also, the two companies intend to create after-market retrofit products that employ Exro's technology.

These planned developments will help advance and accelerate the electrification of agricultural farm equipment to maximize its potential, or, in other words, improve productivity and energy efficiency, Exro noted.

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Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
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