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Exro Technologies (EXROF) Stock Climbed 15%. Why?

AZRX Stock

AZRX Stock

The Exro Technologies Inc [OTCQB: EXROF] stock recently closed at $2.8900, up 15.36%.

In contrast to the 30-day moving average of 1.07M, the volume of Exro stock on the day was 28.88K. The EXROF stock value ranged from $0.1640 to $5.9400 in the past 52-week period. EXROF stock spiked in the last session after its motor and inverter system solution for light mobility was validated.

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What has been validated?

Exro is a pioneer in intelligent solutions power electronics and smart control systems to meet the most difficult challenges in electrification. New control technology developed by Exro extends the capabilities of electric motors, generators, and batteries. By using Exro, an application can use less energy and get better performance.

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The Coil Driver from Exro enables two separate torque profiles within a single motor. In real-time, the controller intelligently optimizes power and efficiency by selecting the appropriate configuration.

Yesterday, Exro Technologies released a press release announcing the validation of its motor and inverter system solution for light mobility with Heinzmann GmbH & Co.

What does validation entail?

Various new products in the field of electromobility will benefit from improved Coil Drivers and motors that Exro Technologies (EXROF) along with Heinzmann is working to develop a standard solution for its commercialization by the end of this year.

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