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Exro Announces UL Certification for Cell Driver™ Energy Storage and Launch of Cellex Energy Inc.

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CALGARY, AB, June 27, 2024 /PRNewswire/ – Exro Technologies Inc. (TSX: EXRO) (OTCQB: EXROF) (the “Company” or “Exro”), 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 (“Certification”), 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.

Corporate Cost Optimization Update

Since close of the acquisition of SEA Electric on April 5th, 2024, Exro continues to focus on restructuring the business, divesting non-core assets, and ramping up production for its blue-chip OEM customers.  The Company continues to implement rigorous cost optimization measures which target an annualized reduction in General & Administrative expenses of up to US$10 million in 2024. Since April 5th, Exro has now recognized approximately US$7.5 million in annualized savings through redundancies, supply chain efficiencies, and optimized business operations. The latest savings are attributed to a wind down of Exro’s engineering services division in Detroit, talent which was duplicated internally with the acquisition of SEA Electric. The Company has a plan in place to deliver further savings through facilities rationalization, a focus on execution, and continued operational optimization.

Cell DriverTM Stationary Energy Storage

Exro’s Cell Driver™ is designed to optimize performance and reduce costs for stationary energy storage applications by enabling users to manage energy consumption, safeguard against grid outages, store energy produced on-site, and realize benefits through peak shaving and load shifting. The fully integrated battery energy storage system is equipped with the Company’s proprietary Battery Control System™ (BCS) technology and offers maximized cell safety, capacity, and lifetime. It enables businesses to efficiently control their power usage, lower electricity expenses, and improve energy reliability. A standout feature of Cell Driver™ is its ability to isolate defective cells while maintaining 100% operational functionality. The dynamic micro-protection mechanisms provide best-in-class safety and minimize the risk of cell-level thermal runaway by reducing operating current on hot cells.

For information about Cell Driver™ visit: https://www.exro.com/technology/cell-driver-commercial-energy-storage.

ABOUT EXRO TECHNOLOGIES INC.

Exro Technologies Inc., now expanded through the strategic acquisition of SEA Electric, is a leading clean technology company that has developed new generation power control electronics. Its innovative suite of solutions, including Coil Driver™, Cell Driver™, and SEA-Drive®, expand the capabilities of electric motors and batteries and offer OEMs a comprehensive e-propulsion solution with unmatched performance and efficiency. Exro is reshaping global energy consumption, accelerating adoption towards a circular electrified economy by delivering more with less – minimum energy for maximum results. 

For more information visit our website at www.exro.com.

To view our Corporate Presentation visit us at www.exro.com/investors

Visit us on social media @exrotech.

CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS

This news release contains forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified using terminology such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will be taken”, “occur” or “be achieved”. Forward looking statements involve risks, uncertainties and other factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s filings with Canadian securities regulators, which could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by the Company with the Canadian securities regulators, including the Company’s annual information form for the financial year ended December 31, 2023, and financial statements and related MD&A for the financial year ended December 31, 2023, filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

Neither the Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this press release.

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SOURCE Exro Technologies Inc.

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Nearly 50% of Young People Resolve to Quit Nicotine in 2025

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EX Program by Truth Initiative Offers a Proven Path to Success

WASHINGTON, Dec. 23, 2024 /PRNewswire/ — Almost half (48%) of young people aged 18-24 are making quitting nicotine a priority for their 2025 New Year’s resolutions, according to new data from Truth Initiative® – the nation’s largest nonprofit public health organization dedicated to preventing youth and young adult nicotine addiction and empowering quitting for all.

 

This survey data* highlights a growing desire to break free from nicotine addiction and the urgent need for effective resources for 18- to 24-year-olds, among whom e-cigarette use is prevalent and dual use of cigarettes is a growing concern. For many, the journey to quit can feel daunting, especially for the scores of young people who think quitting means going “cold turkey” without a network of support. To meet this need, Truth Initiative is offering resources to help their resolutions stick and has launched Outsmart Nicotine, a new campaign designed to introduce young people to EX® Program, a comprehensive quitting resource developed in partnership with Mayo Clinic in 2008.

Empowering Young People with Tools and Encouragement Through EX Program

EX Program is a free cessation resource tailored to meet the unique challenges faced by young people. It offers proven, evidence-based tools designed to support quitting through personalized quit plans, interactive text messages, and 24/7 access to the nation’s most established online quit community. A randomized clinical trial among young adults published in JAMA Internal Medicine found that EX Program text message support can increase the odds of quitting by up to 40%, making EX Program one of the most effective resources for tackling nicotine addiction. These tools have helped millions quit nicotine over nearly two decades, solidifying EX Program as one of the most effective cessation resources available.

Redefining Quitter’s Day: Introducing “You Got This Day” as Part of the Outsmart Nicotine Campaign

Through the Outsmart Nicotine campaign, Truth Initiative is driving awareness of these tools with a series of ads that celebrate the small, everyday victories that lead to quitting nicotine for good. The campaign’s launch ad, “You Got This,” creates an uplifting tone with the iconic track “Can I Kick It?” by A Tribe Called Quest to inspire young people to take that first step toward a nicotine-free life.

“Quitting nicotine is hard, but it doesn’t have to be a lonely or impossible journey,” said Kathy Crosby, CEO and President of Truth Initiative. “With Outsmart Nicotine and the proven-effective EX Program, we’re showing young people that freedom from addiction is possible and within reach– and giving them the tools to quit smarter, not harder.”

Traditionally known as Quitter’s Day, the second Friday in January – January 10th in 2025 – marks the time of year when many people abandon their new year’s resolutions. Giving it a fresh perspective, Truth Initiative is renaming it “You Got This Day” to motivate young people to push through challenges and keep working toward their quit goals. The campaign reframes this day as a moment of empowerment, reminding young adults that quitting is difficult, but with the right support, it’s possible.

Take the First Step Toward Quitting

Truth Initiative invites young people to take the first step toward quitting by texting EXPROGRAM to 88709 or visiting exprogram.com. Organizations interested in EX Program’s enterprise solution can learn more at exprogram.com/enterprise.

*According to Truth Initiative Continuous Tracking Online (CTO) survey data collected October 17, 2024December 17, 2024, from 662 respondents.

About Truth Initiative
Truth Initiative® is a national nonprofit public health organization committed to a future free from lifelong addiction, fostering healthier lives and a more resilient nation. Our mission is to prevent youth and young adult nicotine addiction and empower quitting for all. Through our evidence-based, market-leading cessation EX® Program and national public education and prevention campaigns, we are leading the fight against youth and young adult tobacco use, which threatens to put a new generation at risk of lifetime nicotine addiction. Our rigorous scientific research and policy studies, community and youth engagement programs supporting populations at high risk of using tobacco, and innovation in tobacco dependence treatment continue to contribute to ending one of the most critical public health battles of our time. Based in Washington, D.C., our organization was established and funded through the 1998 Master Settlement Agreement between attorneys general from 46 states, five U.S. territories, and the tobacco industry. To learn more, visit truthinitiative.org.

About EX Program
EX® Program is a proven-effective tobacco cessation program, developed by Truth Initiative® with Mayo Clinic, that brings together the best evidence-based quitting approaches, interactive digital quitting programs, and the most established online quit community. EX Program has helped millions of youth and adults develop the skills and confidence to successfully quit. Truth Initiative research has shown that EX Program text messages can increase a user’s odds of quitting by up to 40%. To learn more, visit exprogram.com.

About EX Program Enterprise
Developed by Truth Initiative® with Mayo Clinic, EX® Program Enterprise is the best strategic partner for employers, health plans, and public health organizations to end smoking, vaping, and nicotine use. Sponsored users receive multimodal quitting support, available in both English and Spanish. Clients get real-time dashboards to track performance, year-round promotions, and expert client success guidance. To learn more about available options visit exprogram.com/enterprise.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/nearly-50-of-young-people-resolve-to-quit-nicotine-in-2025-302337746.html

SOURCE Truth Initiative

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Foxconn Announces Strategic Partnership With Zettabyte to Transform AI Data Centers

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TAIPEI, Dec. 23, 2024 /PRNewswire/ — Zettabyte, a global leader in AI data center software and infrastructure solutions, is proud to announce a strategic partnership with Hon Hai Technology Group (Foxconn), the world’s largest electronics manufacturer. This collaboration, underpinned by capital funding, aims to drive innovation and expand the adoption of energy-efficient AI solutions worldwide.

At the forefront of Zettabyte’s offerings is Zware, its advanced AI data center management software. Zware optimizes GPU performance, dramatically lowering energy usage while maximizing computing output. This cutting-edge solution empowers businesses to achieve unparalleled efficiency and sustainability in AI computing.

“We are thrilled to partner with Foxconn, a company renowned for its excellence in manufacturing and innovation,” said Kenneth Tai, Chairman of Zettabyte. “This partnership will accelerate the deployment of our technology, meeting the surging demand for high-performance, energy-efficient AI computing globally.”

Partnering with Zettabyte aligns with Foxconn’s commitment to advancing sustainable technologies. According to Foxconn, Zware’s ability to enhance AI data center operations while significantly reducing energy consumption opens opportunities to set new benchmarks for the future of AI data centers.

This collaboration underscores Zettabyte’s leadership in revolutionizing AI infrastructure and its dedication to providing transformative technologies to enterprises worldwide.

About Zettabyte

ZETTABYTE is a global innovator in AI data center technology, delivering solutions that redefine efficiency and sustainability in AI data centers. Its flagship software, Zware, is setting a new standard for sustainable and efficient AI computing.

About Foxconn

Established in 1974 in Taiwan, Hon Hai Technology Group (“Foxconn”) (TWSE: 2317) is the world’s largest electronics manufacturer and leading technological solutions provider, ranking 32nd among the Fortune Global 500. In 2023, revenue totaled TWD6.162 trillion (approx. US$198 billion or EUR183 billion)

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SOURCE Zettabyte

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Karma Automotive Collaborates with the Connected Vehicle Systems Alliance (COVESA), UC Riverside and ROADMEDIC.AI to Develop and Pilot Software and Standards for Next-Generation 9-1-1 Emergency Response Vehicle Communications

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At CES2025, a new vision is shared for standardizing the method that enables Software Defined Vehicles to more rapidly and robustly dispatch 9-1-1 Emergency Response Services to vehicle collisions 

IRVINE, Calif., Dec. 23, 2024 /PRNewswire/ — Karma Automotive, America’s only full-line ultra-luxury vehicle manufacturer, is passionate about enabling the proliferation of open standards in Software Defined Vehicle Architecture (SDVA) to increase industry collaboration, and to speed development as the expanded role of software redefines the driving experience aboard modern vehicles. With vehicle occupant safety as a preeminent focus in all vehicle development, Karma Automotive is collaborating with the Connected Vehicle Systems Alliance (COVESA), the University of California Riverside and ROADMEDIC.AI to develop standards-based software applications which leverage vehicle connectivity to provide robust and real-time insights to 9-1-1 first responders and the related eco-system.   

Developing technology that gets emergency responders to the scene faster to save lives

According to a paper published by the National Institute of Health (NIH), for every 1-minute increase in EMS response time, fatality odds increase by 2.6%. The goal of the effort is to drastically reduce emergency response times, and materially increase preparedness of responders when arriving at the site of a critical incident. Then, to validate software applications and communication protocols that have been validated in real-world applications that can be shared and easily deployed by the broader automotive industry.

To announce this project, Karma Automotive will join the COVESA Networking Reception and Demonstration at CES2025 on January 7 at 5pm at the Bellagio Hotel in Las Vegas, NV and showcase the ultra-exclusive, high-performance 2025 Karma Invictus. Karma Invictus is underpinned by the Karma Cloud Services platform that serves as the backbone for the development of the proposed safety system.

Enabling the detailed transmission of vital vehicle and occupant data in real-time could help responders increase preparedness to triage an incident, as contemporary automobiles carry tremendous amounts of data. Leveraging connectivity systems, a vehicle can directly identify number and location of occupants, severity of impact, location of the incident, vehicle extrication instructions and even driver biometrics. Software can be used to organize, parse, and transmit this data in real-time to parties based on their specific role in the 9-1-1 response eco-system.  When combined with vehicle-embedded and cloud-based AI, this data can be sorted and delivered independently, yet simultaneously to the diverse network of service providers that engage in incident response activities. Collectively, this effort is referred to as the ‘9-1-1 Dispatcher Visibility Demonstration Project’.

“Much of what we deliver to our customers in software should not be looked at as differentiating, but rather essential,” says Marques McCammon, President, Karma Automotive. “Safety for example is important to all industry players, and if we could standardize our approach to innovation in the space, we can not only improve the well-being of drivers universally, but also reduce development cost, and time getting new tech technologies to market. This philosophy is central to the Karma Automotive brand promise and our positioning as America’s only ultra-luxury automotive brand.”  

“Together with our partners, we look to democratize development and share the learnings to the benefit of the broader industry and the community at large,” continues McCammon, “and with upcoming Karma vehicles, this technology will be seamlessly integrated within our Karma Connect Vehicle Data Management and connectivity services platform.”

“This collaboration is the realization of a 25-year journey,” said Lawrence E. Williams, CEO and Founder of ROADMEDIC.AI. “Many times, it seemed like a pipe dream, but today, thanks to Karma Automotive’s shared vision, we are turning that dream into reality. Together, we are poised to revolutionize 9-1-1 emergency response systems and save countless lives.”

Next Generation 9-1-1 Technology: A Game Changer
Karma Automotive is the first OEM automotive partner to COVESA’s ‘9-1-1 Dispatcher Visibility Demonstration Project’. Working in collaboration with the University of California Riverside, the automaker will utilize 3rd Generation Karma Revero sport sedans to pilot the technology application and its related use cases. The results of this effort will then be shared with the greater COVESA community, National Highway Traffic Safety Administration (NHSTA), and other community members and stakeholders.

Existing 9-1-1 emergency response systems rely heavily on caller-based information, often supplemented by telematics systems transmitting data to manufacturer call centers. These systems, while useful, introduce delays and inconsistencies that can hinder timely emergency responses. By contrast, the Next Generation 9-1-1 Technology spearheaded by Karma Automotive and its partners will enable vehicles to instantly transmit vital, multi-layered crash data directly to 9-1-1 Emergency Communication Centers, bypassing intermediaries and saving precious seconds in emergency scenarios.

About Karma Automotive

Karma Automotive is America’s only full-line ultra-luxury vehicle manufacturer, and a pioneer of EREV (Extended Range Electric) vehicles which it manufactures at its Karma Innovation and Customization Center (KICC) in Moreno Valley, CA. Its Executive, Product Development, and Design headquarters are located in nearby Irvine, CA. The Karma portfolio embodies California’s spirit of innovation and entrepreneurial boldness, reflected by the signature Comet Line which is the central hallmark of Karma’s new design language. Sales of the 3rd Generation Karma Revero sport sedan, the world’s first luxury EREV plug-in hybrid, are now underway in the USA and EU, offering luxury balanced with conscientiousness delivered without compromise. Sales of Revero’s ultra-exclusive, performance-tuned stablemate, Karma Invictus, will begin in Q1 2025, followed by the Gyesera four-seater in Q4 2025.  The Karma Kaveya super-coupe, with up to 1,000HP and butterfly-doors, will arrive in Q4 2026, incorporating SDVA (Software-Defined Vehicle Architecture) developed in collaboration with Intel Automotive. Further, Karma Automotive will provide Tier 1’s and Original Equipment Manufacturers (OEMs) with business-to-business SDVA solutions, as it does today with Karma Connect, its proprietary Vehicle Data Management and Over-the-Air services platform, which presently provides services to the world’s second largest OEM. Karma Automotive’s dealer network spans North America, Europe, South America and the Middle East. (www.karmaautomotive.com) 

About ROADMEDIC.AI

ROADMEDIC.AI is an authorized automotive OEM Tier 1 supplier dedicated to improving 9-1-1 emergency response through instantaneous IP-based data transmission from motor vehicles to 9-1-1 centers. Their innovative solutions save lives and reduce harm in crash events. For more information, visit www.roadmedic.com.

About COVESA

The Connected Vehicle Systems Alliance (COVESA) is an open, member-driven global technology alliance accelerating the full potential of connected vehicles. By developing common approaches and technologies, COVESA provides a collaborative platform that empowers automotive software stakeholders and world-class developers to address challenges and opportunities in connected mobility and navigate the digital transformation of the automotive industry. Learn more about COVESA or join our community at www.covesa.global.

Media Contact:                                                                                                                                                           

Joe Richardson, (917) 716-6617                                                                              
Joe@BeautifulNoisePR.com 

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SOURCE Karma Automotive

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