Exro Technologies (TSX.V: EXRO) (OTCQB: EXROF), a leading clean-technology company that has developed a new class of power electronics for electric motors and batteries, released a statement regarding a patent infringement lawsuit filed against the company this month; the lawsuit was filed by ePropelled Inc. In the statement, Exro called ePropelled Inc.’s patent infringement lawsuit unmerited and noted that the company had inaccurately stated that Exro had not responded to ePropelled’s inquiry to Exro concerning ePropelled’s patent. Exro stated that it will investigate the allegations set forth in the complaint and vigorously defend its technology. The company also noted that it recognizes the importance of intellectual property (“IP”) and actively strives to protect and maintain its own IP rights as well as respecting other companies’ valid IP rights. According to the announcement, Exro diligently investigated and responded to ePropelled’s inquiry; in response, ePropelled clarified that it was not accusing Exro of infringement and stated that it had not conducted an infringement analysis but had no additional communication with Exro before filing the suit. “Not only does Exro respect other companies’ intellectual property rights, but we are also incredibly confident in our ability to defend our technology,” said Exro CEO Sue Ozdemir in the press release. “While we are disappointed in both the unmerited patent infringement lawsuit and the false claims made by ePropelled, we are thankful for the support we have received from the Exro community. We will continue focusing on our business strategy that demonstrates how Exro’s ability to continuously innovate will solidify its position in the electric mobility market.”
To view the full press release, visit https://ibn.fm/FPbaw
About Exro Technologies Inc.
Exro is a clean-technology company pioneering intelligent control solutions in power electronics to help solve the most challenging problems in electrification. Exro has developed a new class of control technology that expands the capabilities of electric motors, generators and batteries. Exro enables the application to achieve more with less energy consumed. The company’s advanced motor control technology, the Coil Driver(TM) , expands the capabilities of electric powertrains by enabling intelligent optimization for efficient energy consumption. Exro is working with partners from all over the world to bring its technology to the electric mobility industries and beyond. For more information about the company, please visit www.Exro.com.
NOTE TO INVESTORS: The latest news and updates relating to EXROF are available in the company’s newsroom at http://ibn.fm/EXROF
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