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InvestorNewsBreaks — Hillcrest Energy Technologies Ltd. (CSE: HEAT) (OTCQB: HLRTF) (FRA: 7HIA.F) Announces Commencement of Grid-Tied Inverter Testing
December 4, 2023

InvestorNewsBreaks — Hillcrest Energy Technologies Ltd. (CSE: HEAT) (OTCQB: HLRTF) (FRA: 7HIA.F) Announces Commencement of Grid-Tied Inverter Testing

Hillcrest Energy Technologies (CSE: HEAT) (OTCQB: HLRTF) (FSE: 7HI), an innovative clean-technology company redefining power-conversion technologies, has begun proof-of-concept testing on its first ZVS (“ZVS”) grid-tied inverter. According to the announcement, the ZVS grid inverter is suitable for deployment in various grid-tied applications, including solar and wind generation, storage, vehicle-to-everything (“V2X”) and electric vehicle (“EV”) charging infrastructure. Once the testing is complete, the company anticipates developing planned grid-connected products that should result in multiple future revenue streams. The announcement noted that the proof of concept is an 800-volt, 10-kilowatt component that incorporates Hillcrest’s own ZVS technology, which is designed to provide a more efficient and reliable method of deploying higher switching frequencies and deliver improved output power quality and control benefits not currently available in most electric power systems. The company has also granted restricted stock units (“RSUs”) to a consultant for up to 180,000 common shares, at a grant price of $0.37 per share. “The initiation of proof-of-concept testing for our first ZVS grid-tied inverter marks a pivotal moment in our pursuit of redefining power conversion technologies,” said Hillcrest Energy Technologies chief technology officer Ari Berger in the press release. “This 800V, 10kW system, equipped with our innovative ZVS technology, is not merely a component; it’s a testament to our commitment to advancing clean-technology solutions. The adaptability of this proof of concept for various grid-tied applications, from renewable-energy generation to EV-charging infrastructure, positions us at the forefront of transformative opportunities, anticipated to generate multiple revenue streams in the future.”

To view the full press release, visit https://ibn.fm/8KdAr

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.

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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