Hillcrest Energy Technologies (CSE: HEAT) (OTCQB: HLRTF) (FSE: 7HI), an innovative clean-technology company specializing in power conversion technologies, is finalizing a joint development agreement with a European energy-storage-services innovator (“ESS Innovator”); terms of the agreement call for the delivery of 300kVA/800V Hillcrest ZVS inverters. According to the announcement, the objective of the agreement is to customize a ZVS inverter prototype to meet the specific requirements of the ESS Innovator. A successful deployment of these prototypes will likely lead to a commercial supply arrangement. Hillcrest’s technology offers exceptional efficiency and enhances power quality, especially in applications such as energy storage, and in scenarios with frequent bidirectional charge and discharge cycles, the benefits of ZVS are magnified, including cost savings, which can result from the company’s ability to significantly reduce or potentially eliminate protective measures needed to alleviate electromagnetic interference. The two companies expect to finalize the agreement in the coming weeks. In addition, Hillcrest announces incentives to various executives, directors and consultants, with those incentives being paid through the issuance of common shares in the capital of the company. The announcement also noted that the company had granted 2,410,000 restricted share units of the Company (“RSUs”) and 4,663,867 stock options of the company (“Stock Options”) to various executives, employees and consultants. “This project represents a significant milestone,” said Hillcrest Energy Technologies CEO Don Currie in the press release. “It marks the initial implementation of our ZVS technology beyond electric vehicle (‘EV’) traction inverters. By deploying this technology in stationary, grid-connected applications, we aim to demonstrate its broader value proposition across various power conversion uses. This move not only expands our market reach but also reinforces our leadership in the clean technology sector.”
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About Hillcrest Energy Technologies Ltd.
Hillcrest Energy Technologies is a clean-technology company focused on providing advanced power conversion technologies and digital control systems for next-generation powertrains and grid-connected renewable energy systems. From concept to commercialization, Hillcrest is investing in the development of energy solutions that will power a more sustainable and electrified future. For more information about the company, please visit www.HillcrestEnergy.tech.
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