Vancouver, British Columbia--(Newsfile Corp. - March 19, 2024) - Hillcrest Energy Technologies (CSE: HEAT) (OTCQB: HLRTF) (FSE: 7HI), an innovative clean technology company revolutionizing power conversion technologies, proudly announces the successful completion of the first in-vehicle demonstration of the Company's Zero Voltage Switching (ZVS) traction inverter. The demonstration took place in a Hercules Electric Mobility powered E-boat on Orchard Lake, which is located approximately 27 miles north of Detroit, Michigan.
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Commenting on the successful in-water demonstration, Hillcrest CTO, Ari Berger, stated, "Our ZVS traction inverter represents a transformative leap in power inverter capabilities, offering strategic advantages in system efficiency, cost-effectiveness, and reliability. The successful in-water demonstration in collaboration with Hercules Electric Mobility marks the first time we've tested our technology outside of the lab in a fully integrated, real-life, and uncontrolled environment."
The partnership with Hercules Electric Mobility, a leading player in electric mobility solutions, underlines Hillcrest's dedication to the deployment of its innovative technologies into real-world applications. The demonstration not only validates the capabilities of the ZVS traction inverter but also positions Hillcrest as a key player in the evolution of power conversion technologies.
James Breyer, Hercules Electric Mobility CEO, shared his enthusiasm for the collaboration, stating, "The in-water demonstration with Hillcrest's ZVS traction inverter showcased the potential for highly efficient and reliable power conversion technology in electric marine applications. We were very pleased by how quickly we were able to integrate Hillcrest's ZVS inverter into our powertrain and get our boat out on the water! The ZVS inverter coupled to Hercules high power density motors and batteries represents a significant increase in overall system efficiency, which results in more power and range."
Breyer continued, "We are keen to work with Hillcrest to expand on our collaborative efforts and pursue the integration of their ZVS inverter technology with our Powered by Hercules technology platform."
Hillcrest CEO, Don Currie, continued, "this successful in-water demonstration represents a crucial milestone for Hillcrest, marking the first time Zero Voltage Switching has been shown to work in the field and reinforcing our position as an emerging leader in clean technology innovation. We look forward to working with Hercules Electric Mobility on further collaboration on a potential commercial supply agreement. As the Company continues to push the boundaries of power conversion technologies, the ZVS traction inverter promises to be a game-changer in the quest for more efficient, cost-effective, and reliable electrical systems."
Hillcrest's ZVS traction inverter, recognized for its unparalleled efficiency of 99.6% and robust control system, recently underwent electromagnetic compatibility (EMC) chamber tests in collaboration with a prominent European automotive manufacturer. The results showcased the ZVS inverter consistently outperforming conventional inverters across all tested operating points. This groundbreaking achievement not only highlights Hillcrest's commitment to cutting-edge technology but also presents a remarkable opportunity for cost reduction in high-power electrical systems.
About Hercules Electric Mobility
Hercules Electric Mobility, Inc. was founded in 2018 by James Breyer, an auto-industry veteran who worked in advanced engineering on multiple electric vehicle projects with global automakers. Based in Novi, Michigan, Hercules is initially focused on bringing electric propulsion systems to market for recreational boating and marine applications through its Hercules Electric Marine brand. Hercules has developed and built advanced electric propulsion technologies in a modular design that is driven by electronic controls and software. The Hercules 187-kilowatt e-Drive system has been selected by Coach Marine Group as the electric propulsion system it will use in its Coach an Xcursion branded pontoon boats, as well as other customers who have begun taking delivery in Q1 2024. Visit Hercules Marine product site for more information on the Hercules Marine product line at https://Hercules-marine.com/.
About Hillcrest Energy Technologies
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, 2022, 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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