Hillcrest's ZVS Technology Gains Traction in New Applications, Fuels Growth
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Vancouver, British Columbia--(Newsfile Corp. - April 25, 2024) - Hillcrest Energy Technologies (CSE: HEAT) (OTCQB: HLRTF) (FSE: 7HI), is making significant strides in advancing its ZVS (Zero Voltage Switching) technology, heralding a new era in power conversion solutions. The company's recent endeavors underscore its commitment to innovation and expansion into diverse applications, propelling it toward commercial success.
One notable achievement is the ongoing testing of Hillcrest's ZVS traction inverter at the facilities of major European automotive manufacturers. Initial results have been impressive, with the inverter demonstrating exceptional efficiency levels. This success continues to validate the effectiveness of Hillcrest's technology and positions it as a frontrunner in the automotive industry's quest for high-performance power conversion solutions.
Furthermore, electromagnetic compatibility (EMC) chamber tests conducted in collaboration with another prominent European automotive manufacturer have reaffirmed the superiority of Hillcrest's ZVS inverter over conventional counterparts. The consistently superior performance across all tested operating points underscores the disruptive potential of Hillcrest's technology, offering not only unparalleled efficiency but also significant cost-saving opportunities in high-power electrical systems.
Hillcrest CEO Don Currie shared his enthusiasm, stating, "We're accelerating toward commercial opportunities and have booked a lineup of customer demonstrations and testing sessions through June with additional opportunities eager to secure their spot before the end of the year. Coupled with the advancing discussions on several potential commercialization agreements, we are accelerating forward with incredible speed and agility.”
Moreover, Hillcrest's strategic expansion into new sectors, including battery storage, EV charging, and industrial marine applications, reflects its recognition of the broad applicability of the ZVS technology. By leveraging its technological prowess and seamless integration capabilities, Hillcrest is poised to capture a broader market share and accelerate its path to revenue generation.
James Bolen, Chief Commercial Officer, emphasizes the transformative potential of ZVS technology beyond traction inverters. "The ability to deliver industry-leading efficiencies and compatibility across various power conversion devices has garnered significant interest from suppliers across multiple sectors. This diversification not only enhances Hillcrest's market opportunities but also strengthens its position as a leader in the clean technology landscape."
Hillcrest is driving innovation in power conversion technologies, paving the way for a more sustainable and electrified future. With its unwavering commitment to excellence and strategic expansion into new applications, Hillcrest is well-positioned to shape the future of clean energy solutions.
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. Hillcrest is publicly traded on the CSE under the symbol "HEAT," on the OTCQB Venture Market as "HLRTF" and on the Frankfurt Exchange as "7HI". For more information, please visit: https://hillcrestenergy.tech/.
CONTACT INFORMATION
Investor Relations
Don Currie
info@hillcrestenergy.tech
O: +1 604-609-0006
Toll-free: 1 855-609-0006
Or
Walter Frank/Jennifer Belodeau
IMS Investor Relations
hillcrest@imsinvestorrelations.com
O: +1 203-972-9200
Public Relations
Jamie L. Hogue
jhogue@hillcrestenergy.tech
O: +1 602-793-9481
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Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "expects," "intends," "is expected," "potential," "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may," "could," "should," "would," "might" or "will" be taken, occur or be achieved. This forward-looking information is provided as of the date of this news release. The forward-looking information reflects our current expectations and assumptions and is subject to a number of known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to be materially different from any anticipated future results, performance or expectations expressed or implied by the forward-looking information. No assurance can be given that these assumptions will prove correct. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond 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, 2023, available at www.sedar.com 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. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
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