okay everybody on the call thank you for joining us to current shareholders thank you for your support and to new shareholders we look forward to sharing our story so x-ray is a power electronics company and for those of you that don't know what power electronics are they're really you know the piece of any type of equipment that controls your flow of energy so they're turning on and off the energy as needed to power some type of equipment in an electric vehicle or in the mobility industry where we're focused it means that it is the control system that essentially tells the motor how to send the power to the wheels it's controlling that flow of energy from the battery and the motor to be able to send power to the wheels so what we do as a company is we optimize or make electric motors and batteries smarter and we do that through our next generation power electronics and the reason we call them next generation is because currently you know we have this booming mobility industry or electric vehicle industry but really it's a state that's in it's still in its infancy it's really an industry that's you know utilizing what's on the market today putting product to market we have a number of new electric vehicle manufacturers going to market and so we're really working with people to be that next generation to be in vehicles and to start getting into mobility applications of all types and sizes and so as we look to x-ray we have two key pieces of technology our first is our product launch which are coil driver which is mainly focused on mobility applications our coil driver is is for those of you that can see the screen it's the silver box up at the top there and what it is it's a controller so we don't make the motor although we do offer a complete system with our motor partners we make the drive or the control and this drive is able to electrically gear so what that means is it can control two different profiles one for low-end torque and one for high-end speed and the best way to think about that is as a car is speeding down the highway it wants to go fast it's one profile now that same car has all of its family and a trunk load of stuff and some equipment on the front and it's going to try to climb up a hill it's going to be going lower speed but flowing torque so it's two separate profiles this is enabled through what we call coil switching and we'll get into what coil switching is how we improve our cost performance and our position and we'll talk a little bit about the different propulsion types which we can do all the propulsion types battery fuel cell plug-in our second piece of technology that we've just validated internally so far on the tech itself is our new battery control system for stationary energy storage same idea where we're using controls except now our advanced controls are used to create a new type of energy storage system so we're optimizing lithium ion phosphate in our energy storage and we're improving the power density and we're repurposing batteries so we're taking the batteries that come out of a truck or a car and we're reusing them into a stationary storage really completing that end-to-end solution with in the eco system for x-ray as you think about those drives and energy segments what you want to think about is that target market and you know there's hundreds of new vehicles being brought to market globally but when we think about each vehicle the easiest way to think about it is every electric car every electric vehicle trucks bikes construction vehicles lawn mowers all have at least one inverter in them some have two some have more but they all have at least one it is essentially the brain of the system so it's like having a body without a brain if you don't have that brain the vehicle is not going to operate as an electric vehicle that market globally is forecasted to be over 7.7 billion by 2025 and the kashgar is over 17 as we look to the energy storage the stationary energy storage part of the business and reutilizing second life batteries this is something that's already been done in europe it's already powering street lights and hospitals that industry is actually forecasted to be close to 30 billion by 2025. small share of that for x-ray would be a huge business in the years to come as we think to the coil driver what you want to think about again is that brain for the system and the ability to control the different torque curves it's based on a physics of electric motors called coil switching we didn't invent coil switching what we did was use this physics of electric motors and applied it to the electronics we combined software and new hardware design to create a new type of inverter or controller for an electric vehicle we call this our coil driver our coil driver allows us to have a greater depth of control in the motor this is through that torque switching this is important because currently in the market what manufacturers do is they compensate for what's available so they're using a motor and a drive package that has been built maybe for an industrial application a lot of times they're built for gas combustion or different types of vehicles and so in a typical powertrain what you'd see is a battery a classic inverter a motor or gearbox and wheels sometimes you see no gearbox and as we get into bigger vehicles they always need some type of gearing with our x-ray you'd be eliminating or reducing the motor in some cases we've been able to optimize the motor down as much as 50 you don't need a two-speed or a three-speed gearbox we can normally eliminate that and we can use either a fixed gear or no gearing and you still get to do that traditional sense so now you think about you're going to put your foot to the accelerator giving the message for the car to accelerate it's going to feed through that inverter it's going to do all those standard features that it's always done except now you're going to be able to get a lot more power and a lot more speed so we've introduced an ease of change over for our oems and our customers while bringing them enhanced performance recently about two or three weeks ago we announced an additional feature to our coil driver this isn't a generational upgrade this isn't us going back to r d and trying to design something new this is an additional feature that we've been working on in parallel to increase our value proposition to our customers because the end result is that we want to be able to take market share so we were really excited to be able to announce our what we call our perfect powertrain the ability to utilize an x-ro drive to increase torque and speed to increase efficiency to drive down cost of the overall powertrain and now we can also offer our customers the option of charging through the inverter and what this means is from a very primary level an oem can now reduce their cost because every vehicle also has what's called an on-board charger it's the power electronics that allows the vehicle to connect in and charge we can eliminate that completely and it can be done through our inverter this is a savings of from 300 to over a thousand dollars for the oems in addition from an infrastructure from an industry from how we think about the future for charging it's a whole new way to think about energy and infrastructure and what it does is it adds a level of vehicle to grid capabilities this means that our vehicle can now serve as a mobile generator it can serve as a standalone battery to power a hospital or to power something during outages but also if you think about a hotel or a new subdivision that builds it with the ability to have chargers on spot they wouldn't need to spend all the money in the external dc charging stations they'd still need a small station for energy management really our limitation on this is the power so just like the your house is maybe a 200 amp power so you can only go up so high that's our limitation so we're rolling out our campaigns against this we've been talking to our customers and getting great demand already for this additional feature to our already optimized coil driver as you look about how does the coil driver really play how does all this matter all these features what is the position for the customers so we're going to use uh an electric truck for an example so if i think of a commercial electric truck the black line on the screen demonstrates to you the highest available performance from the industry leader today and you can see that whether we look at torque or power speed performance no matter what we look at we're unmatched we have over 50 it's actually 60 and 150 like you can see against the leader in the market today so as we get our product out to market and we are able to move from our prototypes and pilots into series production we really feel like we're going to be able to take that market share because we're offering the customers what they need this means that a truck that previously could only go a certain amount of kilometers can now possibly get a little bit more range it can also be able to climb a hill at full load this could mean the difference between a garbage truck making three pickups or four pickups and if we look at the flexibility not only is the product scalable and flexible the flexibility means we can we can tune the product so that we can focus on do they need torque or do they need speed i think of the opposite end and we think about a race car or a high performance car what they care about is how fast you can get that 0 to 100 what can you get for top speed as i look at speed you can see that we get over 28 percent on all of our performance criteria both of these examples are actual simulations that we've worked in-house for actual customers in our pipeline and both of them have been done using our simulation program ansys as you can see noted in the bottom that's important because ansys isn't just some formulas where we're thinking about what we do this is like a sandbox this is where we keep our costs down by simulating many different scenarios for a customer to get the most optimized solution before we go to build so instead of having to build four or five pilots or prototypes we can essentially just go straight to pilot and prototype on our projects with potentia and heinzmann and land we were able to achieve over 95 of the same results in actual test bench as we did in our ancest simulation and that last five percent isn't this is going to work or this isn't going to work it's how do we keep fine-tuning because again the drive does a lot more than just torque and speed it is the brain it controls everything in that power drain so as we think about how important this will be as electric vehicles become the predominant choice of vehicles for everybody over the next 10 years we also think about the net zero targets that are based are being set worldwide including here in the us with a target of 2050 which the vitamin administration calls an aggressive target we must also think about what's going to happen from that we're going to have a number of batteries that come out of these vehicles that of course we're going to recycle eventually but what can we do to help that supply chain what can we do to help that cycle of life and so our engineers took all of the thinking that we had with our coil driver and how we controlled it through the electronics and applied it to the battery and what we realized was that we could do similar with the battery using a physics of batteries called multiplexing to look at balancing to the cell level so instead of balancing to a motor coil we balance to a battery cell and what this really means is that inside the battery the battery will degrade so the truck's been on the road for a very long time been driving for five years dropping off ups packages across the country the battery is degraded ups takes that battery out and now they can either recycle it or they could repurpose it and utilize it to make an energy storage unit that's important a lot of people will say why would you why wouldn't you just recycle first of all i think it's important that we repurpose before we recycle as even the technology for recycling lithium ion phosphate needs to improve as we get into more batteries coming to market but also all of the statistics show that currently there would not be enough lithium ion to be produced to supply both the first life vehicles and the need for the energy stationary storage that would be required on top of that when we think about energy storage what we want to think about is that that purpose on the grid where as we're plugging all these vehicles into the grid and the grid needs to upgrade to handle all of this electric new wave of vehicles we want to think how do we help take some of the pressure how do we balance that pressure to the to the grid so we looked at combining our software and our hardware so that we could really make the transition to electrification accelerated by that ability to use these repurposed batteries for those of you that don't know what an energy stationary storage unit is this is a rendering of what our full unit would look like so the one on the left is one module and you build up those modules like you would a lego brick house and so we can build up from there our target market is industrial commercial buildings and the reason for that is it's an area where they utilize six times more power than residential where we have the need for commercial trucks that are going to go into a station at the end of the night and be charged now those truck stations can consider utilizing our coil driver as a first life being able to charge faster being able not to have to put so much expense into dc chargers but they can also now know that their batteries can come out and go into storage that can then be either serve as an additional grid or it can just serve as an ability to repurpose their batteries so there's a lot of solutions there for our customers now and it sounds like a very complicated system but it's actually quite simple when you think to it just 10 buses can do an office building and even the new ford lightning says that it can run a house for three days it's a similar model as that new ford lightning where we're using the trucks to be able to offer vehicle to grid just with a lot less electronics to do it and that's important because really the end goal of great tech is our commercial partnership at x-ray we've now clarified that we have defined four different partner models our fir our first partner is a development partner somebody like templar marine where we're looking at an industry that we're not quite sure how the coil driver will behave what is the value proposition how are we going to be able to partner with motorists how are we going to be able to become ingrained in that supply chain and we look at the application through these we become smarter for our next application our intention is always that we're going to go to commercial partnership but sometimes that's just not the reality so rather than keep going years down the road we take a look at the beginning and we really try to think about is this going to be a cost-effective solution in two or three years the next one is our commercial partner these are much like our partners zero c and land where we're looking to validate our product in a specific application from motorcycles to commercial trucks where we want to be ingrained with the customer to learn about what is important through c electric we learned that there's issues with great ability in commercial trucking and that the truck loses a lot of battery as it climbs up the hill with a full weight on the truck so we're able to now make sure that our drive is going to be the best drive for that industry and in turn our partners take the drive put it in their vehicle and do rigorous on-road reliability testing that we need to get the drive fully certified for on-road use and then we have our strategic partners our new partner linamar which we'll talk about is a fantastic example of a tier one supplier that really substantiates the foundation for x-ro our new manufacturing facility and our position with automotive manufacturers in the year to come and then we have motor partners motor partners don't necessarily add up to revenue motor partners make sure that we have a partner to demo to the drive that allows us to accelerate the partnership and go faster to market tsa is a perfect example of that where they have customized a 400 and 800 volt motor to serve all of the commercial trucking applications that we have today as we think to those projects we'll talk about three key projects we have the zero motorcycle project where we're trying to get a higher level of performance it's a motorcycle that already had a fantastic powertrain they go fast they pull torque they're one of the leaders in the industry they sell thousands of bikes a year and it's a very compact little drive sits on the bottom end of the motorcycle so it's very small with a lot of power we've been working with zero motorcycle where we are running about eight weeks late right now due to some supply chain issues but the project is going fantastic and we're really looking forward to being able to share our results with xero in the coming months this really enables us though to get that light duty segment so once we do this work with xero we've got a lineup of other customers in our pipeline that we can now start talking to with actual test results we don't need to go through that whole process again with c electric we're working on the other end of the spectrum we're working with class 4 through class 8 trucks so everything from a ups delivery truck to a class 8 truck which in this case is a mac garbage truck c electric buys the empty chassis and installs their powertrain with our drive and our motor we replace the incumbent which in this case is a dana tm-4 and we're able to show them increased speed increased torque increased gradability we reduce the weight of the powertrain by over 50 kilometer 50 kilograms sorry in this case and we were able to reduce cost we also enabled them not to have to use a two-speed gearbox so there's a lot of demonstrating tech for us in this project currently that project's running on schedule to deliver by the end of the quarter and we're currently in tests for that one as well so we're really excited about those two ends of the spectrum and then with our strategic partner linamar we've positioned ourselves with a tier one this was a milestone that we had set for q4 of this year and we were able to pull it in and and bring it into the second quarter and that's a really big success for the team because what it does is it allows us to accelerate our e-axle program meaning that now we work with linamar we supply all the power electronics they supply all the packaging for an all-in-one it's called a three in one or an e-axle for electric vehicles of all sizes we of course are at a pilot stage with them so it's going to take us a little bit of time to get through that which we've been saying over the past months it's about an 18 to 24 month development but upon successful validation we would be co-marketing the product with linamar linamar already is a tier one supplier they already have relationships and are an approved supplier for companies like ford and so this will greatly enable us to have a much quicker acceleration into the automotive world also part of our new facility in calgary is our manufacturing facility our manufacturing facility will be a world-class inverter automotive manufacturing facility part of the facility's growth will be being able to approve it as an automotive certified facility and with that we need partners that come out and audit our facility so lindamar and c electric play a key piece in that automotive strategy for ourselves currently all of our financial pipeline includes these customers linamar c we've been executing and we've been able to line up to our financial forecasts and this is where we start seeing revenue we'll get a little bit of revenue this year but we'll start seeing really good revenue towards the second half of next year and into 2023.
as we think about how we communicate this how it matters whether you're thinking about how it matters to the user in general the ability to now have a garbage truck that can pull a full load do it at speed cover more ground go farther on a single charge the bottom line is when your target market is mobility and when your target market is automotive the first thing you need to think about is your cost because eventually that's what makes you ingrained in that supply chain so we've put a lot of work into our supply and making sure that we have a cost-effective product that allows us to quickly move from our product validations into full series production this is driven from the inverter cost tends to be slightly higher so our r inverter is a standalone product is slightly higher because there's more electronics you're putting a lot more into the box but now we're using a motor that's 25 to over 50 percent smaller we're eliminating that on board charger so when you compare the x-ray powertrain to an existing powertrain it's always a cost reduction it can be anywhere from eight percent to over 30 percent as we are flexible in how we design that to meet it how we're bringing this all out how we're making this happen is really all the people that we are recruiting our organizational design has been an intentional strategic development as we grew our business quickly over the past 18 months i joined in september of 2019 having come off as the ceo of ge small industrial business motors i led the ge business through an acquisition to a company out of china called wolong electric olong is one of the top motor manufacturers in the world john micasen our cfo is on the call today for any financial questions that we have and john has over 20 years of experience in the capital markets and in small cap companies in general and has worked with companies such as hayward securities josh sobel i recruited in november of 2019 as our chief commercial officer josh joins us with 10 years experience he's a motor design engineer and he has a mechanical engineering degree and an mba he joins us where he was the segment leader for siemens before he joined us in november eric cootes is our chief engineer eric joins us with 20 years of experience in automotive inverter design and manufacturing working with companies like international rectifiers eric has been an instrumental piece of our design from the coil driver as the coil driver really represents taking all the patents that we've had and putting it into a form that customers can now transition it's almost like a drop-in replacement for them just with more features and richard moore chief marketing officer as a proven operations and marketing manager he worked with me while i was with ge and also at wolong and he was uh promoted up to the director for woe long after i left the company to join x-ray we recruited richard in last year on our board of directors we have julie warmlinger who was the former chief engineer of ford motors she retired in 2018 and julie has been instrumental in helping us to position ourselves and to put our strategy together for the automotive segment terence johnson was former vp of audi where he spent over 35 years in automotive sales and he's been instrumental in helping us to make sure that our value proposition is what the customers are looking for and then we have a great board in general with eamonn who is vp of operations as we put together our new facility beyond our board though and beyond our management team we have a team of expertise that's helping us to bring this tech to the market so we have a new vp of production that has just relocated to calgary from the uk he also joins us from international rectifiers the same company as our chief engineer we have darren maui from our repeat vp of supply chain has been helping us navigate especially over the last year as it seems like no matter how far ahead you think you are there's always a little bit of a snag when it comes to supply chains these days so we have you know parts and pieces for everything in stock and we're able to think confidently towards our future darren joins us about a year ago from itt pump which is one of the top rotating pump manufacturers in the world we have anthony anello who leads our battery control system has been a clean tech and energy storage specialist for over 20 years and we have rob posma who sits in detroit rob is our new vp of strategic accounts rob joins us from dana tm4 where he spent over 25 years as a sales key account specialist and is based in detroit to be close to customers and is bringing a world of knowledge to us and there's a whole bunch more employees that have helped us to execute along our milestones as you think about what that means for the company we're really driving an end-to-end solution and we're looking to continue to build that out with different pieces of technology that enables the best power train in the market and when we think about the coil driver and how we're making money you can think about it in three key buckets the first one is engineering services that's a lot of what you'll see this year companies that have paid us to do engineering design including our partnership with linomar or other partners that have given us pos to work towards designs that are specific to their powertrain then we have low volume manufacturing that's where we'll enter into the fourth quarter this year and into the beginning of next year where we're supplying our first pilots and prototypes where the customers put it in their vehicles we might do another two or three or in some cases it's up to 25 units where they continue to test it in different demographics so we would test it out in arizona in a dry sand we would test it out in a different area where it's snowing in hills and valleys and different areas before it's fully certified and then all of that can be done through our current facility which is under construction the calgary facility has the ability to manufacture 100 000 drives per shift can handle all of the drives that we currently have available and can scale up or down as needed by customer demand as we go into higher volume our licensing and higher volume model still stands the same as it did today as it did three years ago as we ingrain ourselves into the automotive world we expect partnerships that drive hundreds of thousands of units in four to five years those ones would be done through a licensing agreement with a partner or through some type of strategic partner investment where we increase our manufacturing footprint currently our facilities are in calgary alberta is our canadian headquarters where the majority of our staff sits we have our new 37 000 square foot manufacturing facility also located in calgary this week we announced our new u.s headquarters our new us headquarters is here in phoenix arizona we're actually in mesa arizona just outside the phoenix border where we'll have about a 15 000 square foot test and demonstration center so we'll be complementing our canadian operations with a dyno bay and the ability to test all the same drives that we test in calgary but be closer to customers that want to come out during the test phases and see the drive actually performing and see how the torque and speed increase is occurring in addition to that we'll be looking to increase for buy america guidelines and different partnerships globally sometime next year to the following year as we look to the arizona facility we will have a full team here including engineering the rules are posted and it was shared in our recent press release from a capital perspective we currently have about 132 million shares fully diluted we have just under 33 million dollars in our bank account so we've been running exactly to our forecasted burn per month and we've been able to invest in our capex for our facilities we've increased our employees from just under 20 when we did our raise in december to just over 50 today and so we're continuing to execute invest in our marketing and our branding in our websites and we have enough right now to run us probably for about another 18 months somewhere between 18 to 20 months so as you think about x-ray and you continue to follow us i'd like to think about us as just perpetual innovators but with disciplined innovation and that's one of our new core values as we really thought about the fact that we have so much that we can continue to bring to market with the coil driver so many other segments that we haven't even begun to touch on yet but what we really want to do first is be disciplined about how we go to market meet our commitments to our shareholders deliver on our projects well we have some delays the projects are all still going very very well we continue to work very well with our customers and we're very excited about having those results and so as you look to that coil driver and that battery control system we're really becoming experts and we're becoming recognized as experts for power electronics in all stages of the mobility ecosystem with that jim i think i'm coming close to the end of our talk and we'll go ahead and open up for q a great thank you sir wow that was uh that was terrific there's a there's a lot to uh a lot to unpack as they say in silicon valley but um i guess the three things that i highlighted were second life battery opportunity for v2g um and i know your cfo john nicholson is on this call as well so third question is always how we pay for all that um but first question second light battery just just to be sure about the technology you're using um worn out cells that's not the right term but worn out cells from car and truck batteries and repurposing them into a stationary lithium ion stack it's that am i describing that even close to what it is close close so yeah so we take the whole we take the the battery pack out of a truck let's say out of a ups truck for an example and then we put it directly into our energy storage unit and the controllers then dictate if the motor can if that if the battery pack is suitable for reuse and it actually through the electronics can make a degraded cell get healthy from a healthier cell so it actually balances the life level of the different cells and the using of second life batteries is not used is not new there's companies trying to do that all over and doing it successfully in europe what's new about it is how we do the power electronics so inside the power electronics inside the stationary storage there's usually two key components a battery management system and an inverter we've combined those two electronics into one and we've now enabled the cell balancing which nobody's been able to do yet and so we've been we eliminate a large number of testing that you normally would have to do again allowing for a much more cost effective solution to market while giving them a lot more performance yeah that's that's amazing i think that the opportunities in stationary storage uh for lithium-ion also vanadium vrf and they're just enormous they're much larger than vehicular i agreed um so that's that's a huge selling point for x-ro and i guess another thing that came out of the volkswagen power day in march was a real focus that they have on vpg you know your your id3 can run your lights and all right d4 can run the entire house um so i guess my question is how do you monetize your technological advantage there i mean is the coil driver necessary to that system or is it really the engineering where you're adding value i absolutely think the coil driver is necessary because i think the reality of the industry as it matures is that manufacturers first of all need the performance they need that electric vehicle to become pair like cost parity to the gas and combustion because if we if we look at the commercial trucks again that's not a lifestyle's choice these are companies that need to change over fleets to meet government regulations and so doing that cost effectively is definitely a key point but if i put aside the cost advantage and say just on a performance advantage they need that vehicle to be able to pick up a number of vehicle of packages they need that vehicle to be able to get so many kilometers they need to make that charging station more effective and they're not getting that out of the current market they're not getting that today so i think that it absolutely will play a big piece it's like any new tech coming to market you know it's going to be a little bit bumpy as we get out there because we're saying that we're doing something that nobody else is doing so it's kind of that old saying proof is in the pudding so as we get more out there our land motor cycle is you know driving with the drive in it now showing that we can do that at that size the sea electric will be a great demonstrator zero and and the others as they come out so i think the more ingrained we get the easier the the process becomes and and the worst is behind us now we're really just kind of trucking along and picking those boxes now yeah it's amazing yeah so busy i actually have gotten two questions via the chat uh so i will ask them i'll read it um first question is is there any potential migration of battery technology to standby generators that people have outside their homes some run on net gas or liquid petrol chemicals i mean the generic business is just going bananas um so is that a target market um possibly yeah we haven't we haven't fully put out all the potential applications for it as a charging but that's that's a great way to look at it you could essentially turn a school bus into a mobile charging station so the school bus could you know a fleet of school buses that previously sat dormant throughout the summer could be used as backup battery for an event or backup battery for a hospital or during a storm um so absolutely that's part of what we're looking at there's a lot of great people that have done a lot of great work in that space and um you know there's a lot of great technology in that space so we're just trying to see where where our fit will be there okay thank you and another question from chad i will read it um does the coil driver is not being designed not being designed in for 2022 vehicles but how much is it a plug-and-play system so that automotive oems can swap it when it is ready ready for broadcast the questionnaire great great great question so currently today the the coil driver is not a plug and play that is absolutely correct there's a lot of design work that goes into each and every model part of the motor partnerships that we've been able to sign up and we have them for both the low the small the two wheel and the bigger vehicles is that now it will essentially become more of a plug-and-play so by you know mid-2022 we'll have a product that essentially a manufacturer could just order that model number and have that plug into their system that said currently as we go out to market we don't redesign every time we go we redesign when we have a partner like linamar where we're designing a new type of product as far as ingraining into the system we have to remember that mobility is not just automotive so when we think about an automotive vehicle yes absolutely if we're working with a zero now it means we're in their model for 2024 but if we're working with a non-automotive an off highway vehicle a motorcycle construction vehicles all over the world it's not the same so now we can essentially go currently the maps about nine to 12 months but we anticipate that we'll get down to under six months as we move into next year so we really want to remember that mobility is everything on land with wheels absolutely and then i want one more from the uh or two more actually i have in the chat um this one is the charging station discussion not clear how x-ro reduces the need for tons of charges how do you fix that yeah and that one i think what we're going to do as a company is we'll probably have some teach-ins coming up in in september where we have our engineers talk to it because it is a very detailed um description so very kind of trying to keep it very simple with the charging how a vehicle charges is there's a piece of power electronics inside the engine that's an on-board charger or a rectifier depending if you're going ac or dc charging but it's electronics essentially that are converting your power to charge we eliminate the need for that on-board charger as it's done natively through the coil driver the coil driver is an inverter that has a different topology from design from patent so we're able to do that on the exterior so you're driving out you stop at a tesla charging station you plug your vehicle in to a charging station that whole exterior charging box could now be much reduced you still need what's called an energy management system you still need something that you plug into to get your access to the grid but you don't need so much now because it's all being done through the vehicle itself so there's regulations that we need you don't need the whole dc fast charging receptacle you can use a standard receptacle um where your limitations are is two key points the car itself so a nissan leaf for example can never fast charge because you need that power to be able to fast charge so it's limited by the battery capacity where a bus is much bigger than what we fast charge so this could potentially allow a bus to charge even faster because now we can access more of that power on the external side when we think about a dc charger then that means now they can use a different they can use just a standard plug-in so we can think differently about how we do that so how exo will do that is we'll be out talking to government to infrastructure leaders to make sure that they understand that there is other solutions than what's on the market today and we'll work towards getting pilots to be able to prove that but it's in parallel it doesn't change anything again we don't go into new design we don't have to do anything it's inherent in the coil driver itself yeah that's that's amazing and i have a this editorial comment i i do i'm getting a lot more questions in the chat here but um i do have a lot of people working on charging stations charging stations technology so hopefully i can make those introductions because there really is room for a better mousetrap yeah that's the supercharger okay everything else is kind of less than anyway so um this question is about the testing with putin sia and just a person is asking for an update right um so we we will be doing a live update um later in the month of august on all of our projects as we realize that our our shareholders are anxious to find out what's happening with our projects right now potentia is on track in that they are still testing on their test bench they're working together albeit virtually with our team to be able to get through some of the control algorithms that they need to be able to get the vehicle fully functioning and we're still planning to have that in the vehicle for uh probably about the middle of october and just as a reminder to shareholders new and to let everybody all knew initially we were planning to have that in the vehicle for last year so it is indeed one that's a little bit later but that wasn't all on x-ray that was um some issues that potentially also incurred during the testing period where they blew up some of the parts and that we needed to get in some new parts so there was there was some joint efforts along the way to get the second drive out to them and so they have that drive it's on test bench i'm actually going to be speaking with them early next week to see if i can get some pictures to put up on our social media sites but so far everything's looking really good okay great and still still have some more questions on the chat yeah if you have time thank you yes um the next one i think that this actually uh feeds into the last one is have you been able to retain the chip to you i'm sorry everybody's having that problem i would think these days but what about extra um definitely like anybody else we've incurred delays due to the chip supply um and it you know we had thought about it before it was really popular we had put a lot of um our fets on order presentation and we thought that we had a really good lineup for our supply chain but unfortunately some of our deliveries didn't come in according to their promise dates um we've been getting some trickle in of the deliveries and we anticipate we'll be through that over the next four weeks nothing like what we've seen from other automotive suppliers part part of the advantage of where we are right now is we do buy through distribution we deal directly with on semi as our as our main supplier and they've been a phenomenal partner but they too have had some delays um they are headquartered here in phoenix as well um so we think that we're just about out of that that is the reason why we've had some delays with some of our drives but again it's it's you know maybe a two-month delay nothing that anybody should feel concerned over and it's not stopping us just to be clear it is not stopping us from our testing it is not stopping us from our development we have drives running on benches in all the sizes today and we have all the parts to be able to work them have backup drives and do everything we need it's just supply to customer okay and then this follows on it's also from the chat also on that one i think have you seen other technology companies looking to improve battery performance in a different way than the coil driver yes absolutely so i think the nice thing about all of our tech is we're solving a problem that is really happening it's not a problem that we're thinking that is going to happen it's a problem that's really happening so i look to other tech trying to do the same thing as a validation to what we're doing so far the majority of the good tech has been in motors that have come out with great new ways to drive more torque through the motor in a smaller more compact weight saving manner the nice thing is we can work with those motor manufacturers because they still need a drive we haven't seen any new tech coming out from the drive perspective and anybody that's you know starting to look at how they have a more power dense drive or how they do something we'll have years and years and years before they get it to market now we're just so much farther ahead at this point so um that's what we see on the on the battery control system it's much the same there's a handful of companies globally that's trying to repurpose batteries in different ways all of them have different different things that are good about it we haven't seen anybody that's been able to combine the reduction of testing the combination of safety and the ability to balance the cells like we have on the battery storage i'd say there's more competition on that side but it's a much bigger market absolutely and one last one from the chat this one is will i still need 240 volts in my home to fast charge so that one is going to need a whole uh engineering teach-in on on charging but so you're you're you can't you cannot dc fast charge from your home with our coil driver just because you want a dc fast charge you need to have more than the 240 amps to be able to do dc fast charging regardless of if you're using an extra coil driver or other what it could possibly do and this part is theoretical it could possibly let you charge a little bit faster but that will be in in you know in actual results but it now if you imagine it in your home you could just plug in versus needing a whole station that's where it would affect a residential home if you could just plug into the outlet in your garage then you could charge up to your 200 amp service but you wouldn't need a whole charging station if we look about a bus or a truck though it changes it completely because they can do more than fast charge we're talking much more than the 300 kilowatt ratings that you get out of a fast charge okay yeah i think that commercially that's a huge advantage and passenger vehicle side obviously everyone i know who's bought the tesla has paid the thousand dollars give or take to get the wall boxes absolutely and there's a flexibility that we have to think about from a manufacturing perspective if we look to the gm ford porsche nissan whoever they struggle with that charging station teslas are only good for teslas and they've just started opening up in europe well we'd be eliminating that we'd be saying you could have one universal connector like think about it like your driver like your dryer connection or the standard ac connection that could apply to anybody now and so the flexibility that it offers from a manufacturing perspective could greatly change the way we look at charging stations in general stuff um so we have two thank you very much i apologize for all the technical difficulties but i'm sorry one more one more just came in in the chat okay are there further partnerships that could be announced this year um we continue to make a really really good pipeline we continue you know we used to say we can smell the the bread in the oven so we continue to have nice a nice smell in the air there's no promises are guarantees but we've got a lot of customers that are waiting for demos that are waiting for pilots and we too are trying to be at a different stage for our shareholders so that when we are announcing you don't have such a long wait so we hope that we will have additional partnerships we anticipate that definitely for the year time will tell where we are right now i can tell you our engineers are working hard long dedicated hours every single day of the of the week that's great thank you so much sue and thank you for presenting and have a great weekend thank you you too thank you to everybody for listening take care
2021-08-09