• Hillcrest Energy began 2022 with proof-of-concept of its innovative traction inverter technology that overcomes shortfalls in today’s tech and improves EV motor efficiency
• The company ended the year with its first 800-volt 250-kilowatt commercial prototype that has attracted the attention of leading EV makers and Tier 1 automotive suppliers
• Hillcrest announced two co-development partners and is now working with them both to integrate the ZVS traction inverter into their specific commercial applications

As the new year arrives, it is a commonplace for companies and investors to reflect upon the last 12 months and hypothesize about where the next year will lead. In the EV space, 2022 will likely be remembered as the start of a steep adoption trajectory as more makes and models hit the roads. In that lane, the year was full of important milestones for Hillcrest Energy Technologies (CSE: HEAT) (OTCQB: HLRTF), a developer of high-performance power conversion technologies and digital control systems for next-generation powertrains and grid-connected renewable energy systems.

In the words of Hillcrest CEO Don Currie, “the company met or exceeded every milestone we set out to achieve.” Those are confident words from a company that is drawing industry attention for its ZVS inverter technology. Power inverter technology is an unsung hero in Evs that converts high voltage direct current (“DC”) power stored in batteries to the alternating current (“AC”) needed for EV motors.

That’s the simple way of putting it. In depth, power inverters convert batteries’ DC electricity into sinusoidal, three-phase, variable frequency AC power to move a car when the accelerator is pushed and subsequently capturing energy released through regenerative braking, converting it into a single DC output to charge the batteries, which helps extend travel range. This complex engineering is being perfected as the industry matures and Hillcrest sits as at the forefront ushering in next generation inverter tech.

During 2022, Hillcrest published two technical white papers validating the value of its ZVS inverter technology. The publications highlighted demonstrations of the inverter achieving efficiency exceeding 99.4% at 60 hertz (“Hz”), improvements in motor efficiency of up to 13%, and the ability to reduce the size and weight of DC-link capacitors by as much as 50%.

The technology behind the inverter eliminates switching losses and takes advantage of higher switching frequencies at higher voltage than its hard-switched silicon carbide competitors, offering improved motor efficiency, performance, and reliability. These improvements were instrumental in Hillcrest garnering attention of potential customers much earlier in development than anticipated. Before it had completed its first 800-volt 250-kilowatt commercial prototype in December, Hillcrest had already inked two co-development partnerships.

Hillcrest isn’t at liberty to disclose everyone that the company is speaking and partnering with, although it has announced two co-development agreements so far. The first is with Hercules Electric Mobility and the second agreement is with a global Tier 1 automotive supplier. Both entities are now collaborating with Hillcrest to integrate the ZVS traction inverter into each partner’s specific commercial application.

As it establishes its footprint in the green energy markets, the one-time fossil fuel play has ceased operations at its oil and gas asset, aside from activities required to successfully reclaim the property. Hillcrest is now 100% a clean energy company.

To meet its goals, Hillcrest strengthened its leadership team in 2022, hiring firmware engineers with expertise in electric vehicles and grid-tied applications.

“We’ve assembled an incredible team with deep understanding and expertise, from technology development to the commercialization and implementation stages,” said Hillcrest CTO Ari Berger in a statement. The company also onboarded David Farrell as Board Chairman and named Michael Moskowitz to the Board and Chairman of the Board’s Executive Committee.

“We entered the year with a proof of concept for our core technology, the Hillcrest ZVS inverter technology, and progressed through design, commissioning and finally completion of our first customer-centered product,” added Currie. “Our technical team has delivered at every level and excitement is building around even bigger expectations in 2023.”

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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