Exro Technologies, which has developed an electric motor optimizer system that can increase motor speed by more than 30%, has invested in Templar Marine, manufacturers of electric leisure cruising boats and water taxis.
“More speed and greater range are the primary limitations we face in electric boats, and we have no doubt Exro’s technological advancements will be fully embraced by the market,” said Mark Fry, CEO of The Templar Marine Group. “We’re excited about the opportunity to work with this cutting-edge technology and believe the advancements Exro can add to electric boats can make a real difference.“
Talking about the reasoning behind the investment, Exro CEO Sue Ozdemir said “The e-Boat sector is clearly growing as people look for solutions that are sustainable and also meet regulatory requirements preventing the pollution of our lakes, rivers and oceans.” The global e-Boat market is projected by Research and Markets to reach USD 14.3 billion in 2023.
Optimizers for water taxi pilot program
Template recently signed an agreement to provide 6 hop-on/hop-off water taxis for tours in the city of Victoria in BC. They will integrate Exro’s system into water taxis as a pilot project and the companies expect to demonstrate significant increases in motor efficiency and top speed.
Both companies are based in British Columbia, Canada. Exro is traded on the Canadian Stock Exchange (CSE:XRO, OTC:EXROF).
Large international network
Together the two companies bring a wealth of experience and relationships to the world of electric boating.
Mark Fry of Templar is also the founder and Managing Director of International Yacht Training Worldwide. It’s a network of 300 maritime training schools in 59 countries that certifies more boating courses with more Government approvals through more schools, in more countries, and more languages than any other boating organization in the world.
Exro, CEO Sue Ozdemir previously led the GE small industrial motor division. Along with Founder and Chief Scientist Jonathan Ritchey she leads a team of engineers and technology experts in Canada, Israel and Norway.
It was Ritchey who first realized the potential for an electric motor optimizer when he was working on wind turbines (turbines are basically just electric motors running in reverse).
System monitors/optimizes batteries and motors
Exro’s ‘secret sauce’ is a patented system that dynamically senses and adapts energy inputs to optimize desired outputs. For instance the burst of power required to start a boat moving is a different use of energy than what is needed to keep it cruising. The system has been validated to prove it can boost motor speed by more than 30%.
The Exro intelligent system evaluates charge and discharge of energy at the individual cell level of a lithium ion battery as well as the usage and needs of individual coils in an electric motor, and then matches the two for best performance.
Templar marine first came on the scene in the spring of this year when Mark and his wife couldn’t find the kind of electric boat they were looking for.
Their quest ended up in developing their own plans for the Templar 26 ft / 8m electric boat ‘platform’ that can be customized for day cruising, with an added sleeping cuddy/berth and for the water taxis/small ferries that will take people silently around the picturesque harbour of Victoria.