• EV sales strong despite supply chain disruptions and energy shortages
• Widespread EV adoption hinges on improved range and efficiency
• HLRTF’s EV traction inverter has the potential to improves performance, reduce weight, increase payload, decrease heat production, boost range
• HLRTF signed MOUs with Hercules Electric Mobility and global Tier 1 automotive supplier

Electric vehicle (“EV”) sales are rising despite supply chain disruptions and energy shortages. As consumer demand continues to increase, inverter technology developed by Hillcrest Energy Technologies (CSE: HEAT) (OTCQB: HLRTF) is growing in importance by enabling improved performance and efficiency: two factors critical to widespread EV adoption.

Power inverter technology is essential to electric motor operation because it converts a battery’s DC power into the AC power used by the electric motor. While technological innovation continues to make strides, inverter size and power density continue to present mechanical and design challenges to EV manufacturers.

Hillcrest’s technology solves those challenges by reducing weight, increasing payload, decreasing heat production, and boosting range. “We’ve suggested claims in our press releases that the inverter itself, the efficiency rate, is higher than any that we’ve seen before – in the 99.5% efficiency range,” said Hillcrest CEO Don Currie in a recent interview (https://ibn.fm/IJxHI). “It controls the thermal increase, the thermal temperature of the inverter itself, and the system itself. It increases switching frequencies and decreases switching losses – that’s the soft switching that we’ve got.”

The company recently signed a memorandum of understanding (“MOU”) with Hercules Electric Mobility to build and potentially commercialize an electric powertrain for the company’s e-mobility products (https://ibn.fm/xD9b6). “The Hillcrest inverter really allows us to achieve that high-efficiency aspect, gaining efficiency over other inverter designs, both in size and in performance,” said Hercules Electric Mobility CEO James Breyer during a joint interview with Currie on the Proactive investment news program (https://ibn.fm/XnXo4). “We’ll have a smaller device in the long run that also consumes less waste energy, and if you have a higher efficiency, it means more of your electricity is going to actually propel the vehicle – the boat in this case – versus going to heat and other wasted forms of energy.”

HLRTF’s MOU with Hercules Electric Mobility was immediately proceeded by another agreement with a global Tier 1 automotive supplier for a joint project expected to run through 2023 (https://ibn.fm/LynC7). According to the terms of the agreement, both companies will collaborate to integrate an optimized version of Hillcrest’s 250-kilowatt (“kW”) 800-Volt (“V”) inverter into a future powertrain system. “Our partner is an early leader in electrification and has a shared understanding that efficiency is at the core of our electrified future,” said Currie. “We are thrilled to collaborate on a project that could become the basis for many future products.”

Since power converters are essential to all electrical applications, Hillcrest’s technology can be applied to numerous markets, including energy storage and renewable energy generation. “While we have a focus on traction inverter technology for electric vehicles (‘EVs’), the technologies we are developing can also be applied to a wide range of industries to make electrical systems more efficient,” said Hillcrest CTO Ari Berger in a recent interview (https://ibn.fm/iQkyd).

Based in Vancouver, British Columbia, Hillcrest develops transformative power conversion technologies and control system solutions for next-generation electrical systems. As the world moves forward on the path toward electrification, the company is firmly positioned to provide disruptive technologies that unlock performance and efficiency across the entire electrification value chain.

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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