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Hillcrest Energy Technologies Ltd. (CSE: HEAT) (OTCQB: HLRTF) Helps Power Global EV Adoption through Innovation

  • Worldwide initiatives to slash carbon emissions, recently bolstered by the Inflation Reduction Act in the United States, are underpinned by EV uptake, which needs innovation to scale and reach critical mass
  • Hillcrest Energy Technologies has developed a cutting-edge 250-kilowatt, 800-volt Silicon Carbide (“SiC”) EV inverter that has captured the attention of leading firms
  • Hillcrest has recently inked new partnerships, including one with a global Tier 1 automotive supplier, for the purpose of commercializing new inverters for electric mobility applications
With 1.4 billion vehicles in use today and around 1 percent of them powered by electricity, the move to decarbonize the transportation industry is accelerating yet also has far to go. The U.S. Inflation Reduction Act signed into law in August is arguably the most significant piece of U.S. legislation designed to accelerate adoption of electric vehicles (“EVs”) and promote innovation, which is going to have to come from all angles to meet global carbon goals in the next eight years. Sure, it’s simple to say, “everyone just needs to get an electric vehicle,” but it is more complicated than that. Consider that the Argonne National Laboratory is constantly analyzing data to try and figure out where to put new charging stations to ensure fair access and that research is still relatively nascent in understanding temperature-related fluctuations in battery performance. And that’s just one observation from a 30,000-foot view. At a more granular level, new power conversion technologies, like those of Hillcrest Energy Technologies (CSE: HEAT) (OTCQB: HLRTF), are being developed to improve efficiency and curtail EV costs. Hillcrest, a one-time fossil fuels producer, has ditched that model to pivot into clean energy technologies. The company specializes in developing control systems and electric power conversion devices for powertrains and charging applications in addition to renewable energy generation and storage systems. As noted by Hillcrest CEO Don Currie, the company is at an inflection point after developing and successfully testing a cutting-edge 250-kilowatt (“kW”), 800-volt (“V”) Silicon Carbide (“SiC”) EV traction inverter prototype. The inverter’s adaptable design gives Hillcrest a competitive advantage with the flexibility to quickly meet customers’ needs with a smaller, lighter, and more powerful product. “[Our] highly adaptive power conversion technology is at an exciting stage of growth and development, evidenced in part by our two recent strategic partnerships including a global Tier 1 automotive supplier,” said Currie in a recent press release announcing Hillcrest had retained an investor relations firm to help with outreach. In the automotive industry, Tier 1s are operations that supply parts and systems directly to an automaker such as Tesla, Ford, Rivian, Volkswagen, et al. Confidentiality agreements keep Hillcrest from being able to reveal the name of its new Tier 1 partner, but it can disclose that the two have a memorandum of understanding to collaborate to integrate an optimized version of Hillcrest’s 250kW, 800V inverter into a future powertrain system. The goal is commercialization of a nominal 350kW product that capitalizes on the unique properties of Hillcrest’s highly efficient inverter. That news came on the heels of a new partnership with Hercules Electric Mobility, Inc. Hercules, an emerging company revolutionizing electric mobility in both marine and recreational vehicles, is also interested in working with Hillcrest to access its inverter tech. The two are collaborating on building and commercializing a 250kW, 800V inverter optimized for a Hercules electric powertrain. The collaborative agreements speak volumes as to the quality of the Hillcrest technology, as well as the company’s adaptable nature and flexible technology design that facilitates optimization and seamless integration with new products. For more information, visit the company’s website at www.HillcrestEnergy.tech. NOTE TO INVESTORS: The latest news and updates relating to HLRTF are available in the company’s newsroom at https://ibn.fm/HLRTF

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