Exro announces UL Certification for Cell Driver™ Energy Storage and launch of Cellex Energy Inc.

Exro Technologies Inc., a leading clean-technology company that provides proprietary propulsion system technology for e-mobility and proprietary battery control technology for stationary energy storage, is pleased to announce today that its Cell Driver™ stationary energy storage system has achieved UL certification status, as well as the launch of Cellex Energy Inc., a new subsidiary dedicated to Cell DriverTM commercialization. UL certification evolves the Cell DriverTM technology to a full de-risked and commercial-ready product.

“Bringing disruptive technology to market is never easy,” said Exro CEO Sue Ozdemir. “This important milestone is the result of years of dedication and hard work from our team. We extend our sincere gratitude to our shareholders for their support throughout the UL certification process. The process presented many challenges for both Exro and the UL certifier team as we worked to certify an innovative technology with capabilities that exceeded existing UL testing standards. Thanks to the tenacity and determination of our employees, our energy storage technology is now ready to deploy and bring unparalleled safety, performance, and cost savings to customers.”

UL Certification Awarded

Certification marks a significant milestone and the culmination of more than two years of rigorous development and testing. Exro is now positioned to immediately deploy the Cell Driver™ technology to market with a focus on commercial and industrial (“C&I”) sectors. The applications across C&I are numerous, including commercial and office buildings, retail centers, hotels, restaurants, schools, hospitals, and more.

Certification is an essential requirement prior to connecting to the energy grid in the USA and Canada, ensuring that products meet rigorous safety standards and regulatory requirements. Certifications of Cell Driver™ include several standards for the system and subcomponents, as well as certification of the manufacturing process for Cell DriverTM, which will be performed by Exro’s contract manufacturing partner, Re:Build Manufacturing.

Achieving Certification is a testament to Exro’s capabilities in innovation and design, bringing new technologies to market that meet customer needs and achieve the highest levels of safety and performance. This safety and performance have been real-world validated with a Cell Driver™ demonstration unit that has been installed at Exro’s Calgary facility for more than a year. The full system, including energy storage system (ESS), energy management system (EMS) and webserver, have been operating through harsh Canadian climates to collect data, enhance software functionality and test new EMS features.

Establishment of Cellex Energy Inc.

Shifting to the commercialization phase, Exro will establish a new subsidiary dedicated to its Cell Driver™, named Cellex Energy Inc. This strategic move ensures specific focus and visibility for its energy initiative, enabling the Company to concentrate resources and expertise specifically on energy storage, enhance operational efficiency and market responsiveness, and strengthen customer and stakeholder engagement through a dedicated division.

In parallel with these latest developments, Exro continues to collaborate with several launch partners for in-field pilots. While working towards certification, Exro has built a network of channel partners throughout North America in the solar, energy storage, electric vehicle (“EV”) charging, and building energy management industries, which the Company is working with to accelerate a robust pipeline of sales opportunities.

 

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