Hillcrest Energy Technologies Ltd. (CSE: HEAT) (OTCQB: HLRTF) Sees Ongoing Traction in Customer Demonstrations; Nears Proof-of-Concept for New Technology Offering

• Hillcrest Energy recently provided investors with an update on the company’s commercial endeavors
• Hillcrest successfully completed dynamic load bench demonstrations of its SiC traction inverter with two potential e-mobility customers
• The news comes alongside the company’s growing customer traction, with Hillcrest announcing that it is simultaneously progressing through demonstration and co-development programs with 6 potential e-mobility customers
• On the product front, Hillcrest revealed it is nearing the proof-of-concept stage for its upcoming grid-connect inverter, with the technology expected to be unveiled prior to year end

Hillcrest Energy Technologies (CSE: HEAT) (OTCQB: HLRTF), a clean technology company focused on developing transformative power conversion technologies, recently provided investors with an ongoing update as to the development of their innovative 800-volt, 250-kilowatt Zero Voltage Switching (“ZVS”) traction inverter commercial prototype.

Electric vehicle sales are rapidly gaining shares across the globe, with the expected count of electric vehicles within the global auto pool expected to nearly quadruple in the coming year to 77 million vehicles. At their heart, each of those 77 million electric vehicles will contain multiple high-voltage batteries, by far the vehicle’s most expensive component, with each corresponding inverter used to covert the battery’s direct current (“DC”) into alternating current (“AC”) – latter used to power the electric motors driving the vehicle.

Hillcrest’s inverter solution has been shown to generate powertrain efficiency improvements of up to 13%; current research suggests that every 1% improvement in efficiency can reduce battery size by 2%, with Hillcrest’s technological breakthrough effectively holding the commercially appealing potential to make EVs cheaper, lighter and better performing (https://ibn.fm/5fw7K).

In June, Hillcrest revealed that they had completed dynamic load bench demonstrations of its SiC traction inverter for a prominent European automotive original equipment manufacturer (“OEM”) and a global tier one automotive supplier (https://ibn.fm/5tUrI).

Hillcrest’s ongoing testing with its prospective European OEM and global tier one automotive supplier clients serves as a further reaffirmation of the ZVS traction inverter’s commercial potential, with Hillcrest revealing that they are currently working with 6 potential e-mobility customers to demonstrate their technology on the path towards potential commercial agreements.

Separately, the company also announced that they had received support from the Government of Canada for a multi-phase demonstration program with two potential customers – the first, involving demonstration testing with a global motor supplier, subsequently followed by an in-vehicle demonstration with a Hercules Electric Mobility e-boat (https://ibn.fm/bSyEE).

Hillcrest Chief Commercialization Officer, James Bolen commented in relation to the support and partnership the company had developed with the Canadian Government, “We are pleased to have the support of NRC IRAP (National Research Council of Canada Industrial Research Assistance Program) for this multi-phase program. Over the past year we’ve consistently demonstrated the remarkable capabilities of our proprietary ZVS inverter through progressively advanced testing with customer demonstration systems. This program will further that progression to live, in-vehicle demonstration under full dynamic loading, a key advancement towards definitive commercial agreements.”

Hillcrest have also continued to remain engaged in the further development of their technological solutions, announcing that the proof of concept for their next product – a grid-connect inverter – was nearing completion and expected to be unveiled this quarter.

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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