VANCOUVER, BC, February 1, 2024 – Hillcrest Energy Technologies (CSE: HEAT) (OTCQB: HLRTF) (FRA: 7HI) is pleased to announce a significant milestone for its ZVS-enabled power modules, positioning the Company to take advantage of a potential new revenue stream.
Power modules play an essential role in driving an inverter’s power-switching functions. Packaging the silicon carbide dies into a module greatly improves manufacturability, provides better thermal control, power density and reliability and results in significant cost savings when compared to the use of individual (discrete) components.
Hillcrest’s next generation EV inverter features the new ZVS-enabled power modules, delivering a substantial boost in power level and power density while being designed to facilitate high-volume manufacturing in industries like automotive. This next generation EV inverter is currently being used for testing and demonstration programs with various potential customers and partners.
James Bolen, Hillcrest’s Chief Commercialization Officer, comments, “Hillcrest’s ZVS-enabled power modules not only elevate the performance and power density of the Company’s EV inverter but they also open new avenues for standalone sales.”
Mr. Bolen continued, “With the global power module market reaching US$2.7B in 2022 with a forecasted annual growth rate of more than 11% in the coming years, this could become a valuable potential revenue stream for the Company.”
Ari Berger, Hillcrest’s Chief Technology Officer, highlights “Our ZVS-enabled power modules have been designed and manufactured in-house by our team and are a testament to the combined capabilities of Hillcrest and our technology development partners at Systematec GmbH.” Berger also notes, “These capabilities are pivotal to our success, especially as we engage with a growing list of potential clients in the automotive sector.”
Hillcrest intends to design ZVS-enabled power modules to operate independently of specific application controls. This approach enables near-seamless integration into a variety of applications, from electric vehicles and aviation to grid-tied stationary applications, without the need for significant re-qualification and modification. Utilizing this approach is expected to accelerate the delivery of the power modules to the market.
About Hillcrest Energy Technologies
Hillcrest Energy Technologies is a clean technology company developing high value, high performance 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 the Frankfurt Stock Exchange as “7HI.” For more information, please visit: https://hillcrestenergy.tech/.
Walter Frank/Jennifer Belodeau
IMS Investor Relations
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release.
The securities of the Company referred to in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws. Accordingly, the securities of the Company may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or a solicitation of any offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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