Hillcrest (CSE: HEAT) (OTCQB: HLRTF), a clean technology company developing transformative power conversion technologies and control system solutions for next-generation electrical systems, today announced its entry into a memorandum of understanding (“MOU”) with Hercules Electric Mobility Inc., a company focused on bringing customizable electric mobility products to market. Under the terms of the MOU, the companies will collaborate on a project to build, test and potentially commercialize a system that includes a Hillcrest 250-kilowatt, 800-volt inverter optimized for a Hercules electric powertrain. The companies will collaborate on a series of configurations using the Hillcrest inverter in the Hercules electric propulsion system to test and work towards the end goal of demonstrating a powertrain containing an optimized inverter. The project will begin this month and is expected to run through March 2023, with potential applications that include marine, automotive and other electric mobility products. “With a shared modular design philosophy, our companies have a lot of synergies,” said Hillcrest CEO Don Currie. “This approach allows us both to adapt to customer needs, integrate the latest technologies into our products, and improve speed to market. The Hercules team brings an impressive depth of experience and we’re proud to join forces with them on our first development MOU.”
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About Hillcrest Energy Technologies Ltd.
Hillcrest 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 and on the OTCQB Venture Market as HLRTF. For more information, please visit www.HillcrestEnergy.tech.
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