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Vancouver, British Columbia – 30 January 2024 (Newsfile Corp.). Investorideas.com Newswire. Hillcrest Energy Technologies Inc. (CSE:HEAT) (OTCQB HLRTF) (7HI) is pleased to provide an updated report on key activities and major milestones.
Don Currie, Hillcrest CEO, said that the company’s primary focus in 2024 is to increase customer engagement and secure commercial commitments.
Commercial Engagements Take Center stage
The Company is committed to engaging with potential partners and customers to drive the commercialization its technology across multiple applications. Hillcrest has announced that advanced testing and demonstrations will be conducted with four automotive OEMs, as well as a global supplier. The Company will also complete an impressive in-water demo with Hercules Electric Mobility’s e-boat, thanks to Canadian grant resources.
These testing and demonstration projects run parallel to ongoing discussions about the potential structure of joint-development agreements with several previously announced groups. This includes a prominent European automotive OEM, a global supplier Tier One, and Hercules Electric Mobility. Each project and commercial conversation is unique and requires consideration of individual specifications.
Next Generation EV Inverter
Hillcrest’s next-generation EV will be used for advanced testing and demonstration programs. This cutting-edge inverter is designed to handle applications up 1,000 volts, and uses 350-kilowatt Silicon Carbide (SiC).
Ari Berger, Hillcrest’s Chief Technology Officer, commented on the results of the latest tests: “As you can tell from our latest infinite persistency capture (see image), eliminating switching losses allowed us to achieve smooth voltage transitions with virtually no oscillation or overshoot (ringing) and, therefore, very low electromagnetic interferance (EMI). Using publicly available data, these benefits we believe exceed the performance of any EV inverter that is currently on the marketplace. The use of our ZVS enabled power modules allows us, in addition, to further optimize our Inverter for even greater efficiency and reliability.
Hillcrest’s EV Inverter, utilizing Zero Voltage Technology platform (ZVS), demonstrates industry leading efficiency of up 99.6%. This results in expected cost savings of up US$2,200 per vehicle. This inverter is equipped with Hillcrest ZVS-enabled Power Modules and represents a significant improvement in power level, power density and is designed for high-volume production in industries such as automotive.
The Company will continue providing updates as new material events occur.
Hillcrest Energy Technologies
Hillcrest Energy Technologies is an innovative clean technology company that specializes in advanced power conversion systems and digital control for grid-connected renewable energy and next-generation powertrains. Hillcrest invests in the development of energy technologies that will power an electrified and sustainable future. Hillcrest is traded on the CSE as “HEAT”, on the OTCQB Venture Market under “HLRTF”, and on Frankfurt Exchange as 7HI. Please visit: https://hillcrestenergy.tech/.
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This news release contains forward-looking information and statements within the meanings of applicable securities laws. The words “expects,””intends,””is expected,””potential,””suggests,” or variations of these words and phrases can be used to identify forward-looking information or statements. This forward-looking data is as of the date this news release was released. The forward-looking statements reflect our current expectations and assumptions, and are subject to known and unknown risks, uncertainty and other factors that could cause actual results, performances or achievements to differ materially from any anticipated future performance, results or expectations expressed or implicit by the forward-looking statements. These assumptions are not guaranteed to be correct. Forward-looking statements and information are not historical fact and are subject to risks and uncertainties outside the Company’s control. Investors are advised to consider the risk factors under the heading “Risks and Uncertainties” in the Company’s MD&A for the year ended Dec. 31, 2022, available at www.sedarplus.ca for a discussion of the factors that could cause the Company’s actual results, performance and achievements to be materially different from any anticipated future results, performance or achievements expressed or implied by the forward-looking information. The reader should not place an undue amount of reliance on any forward-looking statements. The Company is not obligated to update or revise publicly any forward-looking statement, except where required by law.
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