A Vancouver-based industrial company just announced several key partner milestones as well as the first vehicle integration of its Coil Driver technology. Shares of Exro Technologies Inc. (TSX:EXRO) (OTCQB:EXROF) rallied significantly on the update.
Exro Technologies Inc. is a company commercializing patented technology designed to advance existing rotating electric machines. It is engaged in the production of electronics for electric motors and generators. The company serves car/truck, bus, generator, appliance, elevator, escalator, conveyor, ship drive, fan, pump, crane, HVAC, compressor, vacuum, train, industrial motor, wind turbine, and subway markets.
Traders were bullish on the news as shares of this small cap traded up to $2.98/share (+12.45%) at the session high. This move is a glimmer of hope for long-term investors who have been riding this multi-month slide since February of this year.
