Pilot Project Aims to Optimize FireFly ESV Batteries for Reuse as Energy Storage Systems

Partnership Further Bolsters Sustainability Profile of FireFly ESV, Enabling a Circular Economy

BOSTON, MA / ACCESSWIRE / December 16, 2021 / ev Transportation Services, Inc. ("evTS"), an electric vehicle manufacturer focused on the essential services and urban e-mobility markets, today announced that it has secured a new development partnership with Exro Technologies (TSX:EXRO)(OTCQB:EXROF) to repurpose retired batteries from FireFly™ ESV vehicles into a second life as an energy storage system.

Per the terms of the partnership, Exro will perform pilot testing to optimize the reuse of the FireFly ESV's Lithium Iron Phosphate (LFP) battery technology for use in stationary energy storage applications using Exro's Energy Storage System (ESS), equipped with its Battery Control System™ (BCS) technology. Exro anticipates receiving test bench demonstrator results in the third quarter of 2022.

Exro's patented BCS is an innovative battery management inverter combined with advanced cell control software that can expand the capabilities of batteries by enabling a great depth of control on the cells. In this case, Exro will pilot a test bench demonstration that integrates its BCS technology with the FireFly ESV LFP batteries to repurpose the retired battery cells and extend them into a second life in an ESS application. LFP batteries are a growing standard in electric mobility applications because of their safety and reliability advantages while improving on access to raw materials.

"By partnering with Exro, we hope to further bolster the environmentally friendly profile of our vehicles - providing our batteries with a second-life as an energy storage system," said Greg Horne, Chief Technology Officer at evTS. "Our FireFly ESV will not only help to drive forward the future of last-mile delivery, as through our partnership with Exro, we will also help eliminate battery disposal issues and contribute to the circular economy."

"As electric vehicle batteries reach end of first life, we know there is a growing market for LFP batteries that can be repurposed for second-life energy storage applications," said Sue Ozdemir, CEO of Exro. "EV manufacturers can experience significant cost savings by reviving and utilizing second-life batteries and we're excited to partner with evTS on a pilot project to extend the life of their FireFly ESV batteries, while supporting their sustainable electric vehicle repurposing processes."

About Exro Technologies Inc.

Exro (TSX: EXRO, OTCQB: EXROF) 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.

Exro'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 many partners from all over the world to bring their technology to the electric mobility industries and beyond.

For more information visit the Company's website at www.exro.com or on social media at @exrotech.

About evTS

ev Transportation Services Inc. ("evTS") is a specialty vehicle manufacturer that produces purpose-built, pure-electric lightweight commercial utility vehicles and provides fleet management solutions. Founded in 2015, the Boston-based company's flagship product, the FireFly ESV is aimed at the essential services transportation and urban e-mobility markets, which represent an annual domestic replacement market of approximately 400,000 vehicles, or roughly $10 billion annually. End user applications for the Company's vehicles include parking management, security and perimeter patrol, parks and sidewalk maintenance, utility meter reading, property and building management, airports, seaports, sanitation, university and corporate campuses, and last mile on-demand urban delivery. For more information, visit the Company's website at www.evTS.com.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.

Investor Relations Contact
Lucas Zimmerman
Director
MZ Group - MZ North America
949-259-4987
investors@evTS.com
www.mzgroup.us

Company Contact
Paul Barrett
VP of Marketing and Product
ev Transportation Services, Inc.
Boston, Massachusetts
202.347.3359 Office
media@evTS.com
www.evTS.com

SOURCE: ev Transportation Services, Inc.