Exro Technologies Inc. is a leading clean energy technology firm that has created a new generation of power control electronics that enhances the capabilities of electric motors and batteries (TSX: EXRO, OTCQB: EXROF). declared that the case with ePropelled, Inc. had been resolved in relation to the patent infringement claim ePropelled had made against his Exro in the United States. District of Massachusetts’s district court.
The parties concur that the claims of ePropelled’s US Patent No. 7,382,103 (the “‘103 Patent”) are not violated by Exro’s Coil Drive SystemTM (CDS) and Coil DriversTM. As a result, the parties have indisputably decided to end the lawsuit. In addition, the parties concur to dismiss Exro’s defamation complaint against ePropelled in Massachusetts Superior Court as well as its inter partes review motion with the United States Patent and Trademark Office. I consent to making a claim. It challenges the ‘103 patent’s legality.
Her CEO of Exro Sue Ozdemir stated: “We are appreciative that this litigation has had a detrimental effect on our stock price. As a result, the infringement action demonstrates that we do not violate ePropelled’s patents, and we have handled the matter amicably. We are very pleased that it has been fixed, and we look forward to finishing this problem and keeping our attention on crucial deliveries in the months to come. The pilot project is currently under development and will be delivered to our customers in Q4. Customers will be able to order samples in the first quarter, and the energy storage system will receive UL certification in the second.