- XRO enters agreement with Clean Seed Capital to integrate patented technology into high-tech seeder, planter platforms
- Exro CEO calls agreement “another step in the commercialization of Exro’s technology that will expand the capabilities of the world’s electric motors”
- Worldwide exclusive collaboration and supply agreement sets new benchmarks in the electrification of agriculture
Canada-based Exro Technologies (CSE: XRO) (OTCQB: EXROF), one of the world’s proven leaders in the innovation and manufacturing of electric motors, announced that it has signed a deal with Clean Seed Capital, an agricultural company renowned for the development and implementation of highly advanced seeding and planting platforms (http://nnw.fm/Gf4Bw). The agreement will integrate Exro’s technology into Clean Seed’s high-tech agricultural seeder and planter platforms, advancing the electrification of the world’s heavy-farm equipment.
“This is another step in the commercialization of Exro’s technology that will expand the capabilities of the world’s electric motors,” said Exro CEO Sue Ozdemir, who has outlined a plan for the company to finalize eight deals this year in its overarching goal of commercializing its game-changing technology. “Clean Seed is a pioneer in improving the efficacy and sustainability of farming. With this new agreement, we will, together, electrify the industry to maximize its potential, driving better productivity and efficient use of energy.”
Based on the agreement, Clean Seed will issue a purchase order to integrate Exro’s electric-motor-enhancing technology into Clean Seed’s latest technology offerings and beyond. The two companies will collaborate in the effort to build a working prototype that will be implemented in the field by 2021.
The addition of Exro’s patented technology should further enhance Clean Seed’s SMART Seeder(TM) technologies by reducing the power requirements to operate its revolutionary tools that put row-by-row, variable-rate seeding technology into the hands of farmers and allowing those farmers to leverage the latest in agricultural innovation and sustainability. In addition, both companies also plan to develop after-market retrofit products featuring Exro technology to further expand and accelerate the electrification of agricultural farm equipment.
“This worldwide exclusive collaboration and supply agreement with Exro will set new benchmarks in the electrification of agriculture,” said Clean Seed CEO Graeme Lempriere. “This collaboration will benefit the agricultural community by promoting good stewardship of our resources. It has been a pleasure getting to know the team at Exro and we look forward to working together to electrify the agricultural industry and usher in a new sustainable application.”
Clean Seed is comprised of a team of innovators and business management professionals with a proven track record of game changing innovation and production of patented agricultural technologies at a high level. The company focuses on being a progress facilitator that turns solutions for modern agricultural problem into commercially viable products to fulfill new demands.
“The Clean Seed agreement represents Exro’s fifth commercialization deal,” said Ozdemir, who joined Exro as CEO in September 2019 after serving as CEO of GE’s Industrial Motors Division. “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 is a clean-tech company that has developed a new class of control technology for electric powertrains. Exro’s advanced motor-control technology — Coil Driver — expands the capabilities of electric motors and powertrains. Exro offers increased drive cycle efficiency, reduced system volume, reduced weight, and expanded torque and speed capabilities. Exro allows the application to achieve more with less energy consumed.
For more information, visit the company’s website at www.Exro.com.
NOTE TO INVESTORS: The latest news and updates relating to EXROF are available in the company’s newsroom at http://nnw.fm/EXROF
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