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Hillcrest Energy Tech Ltd - HLRTF STOCK NEWS

Welcome to our dedicated page for Hillcrest Energy Tech news (Ticker: HLRTF), a resource for investors and traders seeking the latest updates and insights on Hillcrest Energy Tech stock.

Hillcrest Energy Technologies (HLRTF) is a leader in advanced power conversion systems driving efficiency in electric vehicles and renewable energy infrastructure. This page provides investors and industry professionals with direct access to official announcements and strategic developments.

Discover comprehensive updates on Hillcrest's Zero Voltage Switching (ZVS) technology advancements, partnership agreements, and market expansion initiatives. Our curated news collection covers earnings reports, intellectual property milestones, and collaborations with key industry players like Ocean Batteries and Systematec.

Stay informed about Hillcrest's progress in optimizing energy systems for automotive and grid applications. All content is verified for accuracy and relevance, offering insights into technical innovations and commercial strategies without speculative commentary.

Bookmark this page for streamlined access to HLRTF's latest developments in clean energy technology. Check back regularly for real-time updates on performance benchmarks, regulatory compliance achievements, and global market penetration efforts.

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Hillcrest Energy Technologies (CSE: HEAT) (OTCQB: HLRTF) (FSE: 7HI) is advancing towards commercial agreements with top automakers and suppliers, driven by growing interest in its Zero Voltage Switching (ZVS) technology. The company is progressing joint development discussions and expects to complete advanced demonstrations with several new customers, including three of the world's top ten automakers, by year-end.

Hillcrest's ZVS traction inverter and power factor correction (PFC) prototype offer enhanced efficiency, elimination of switching losses, and superior electromagnetic compatibility. The company is expanding its European demonstration efforts, collaborating with Systematec GmbH in Germany. Hillcrest is also partnering in the Ocean Batteries project, with the first 300kVA | 800V ZVS inverter prototype expected in early 2025 for marine shore power applications.

The company's ZVS technology has diverse applications in electric vehicles, industrial power conversion, and renewable energy sectors, positioning Hillcrest to capture a share of the expanding clean energy and electrification markets.

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Hillcrest Energy Technologies (CSE: HEAT) (OTCQB: HLRTF) (FSE: 7HI) CEO Don Currie was featured on the MarketGems Podcast to discuss recent and upcoming catalysts for the company. The interview focused on two key areas:

1. Commercialization of ZVS technology: Currie provided insights into the company's Zero Voltage Switching (ZVS) technology and its potential market impact.

2. Joint development agreement with Ocean Batteries SA: The CEO elaborated on the collaboration with Ocean Batteries and its significance for Hillcrest's growth strategy.

The full video and audio interviews are available for investors and interested parties to gain more detailed information about Hillcrest's recent developments and future prospects in the clean energy technology sector.

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Hillcrest Energy Technologies (CSE: HEAT) (OTCQB: HLRTF) has announced the closure of its latest drawdown from a previously announced $5 million equity drawdown facility. On August 26, 2024, the company received $540,000 from a third-party investor. In exchange, Hillcrest issued 2,076,923 units at $0.26 per unit, each comprising one common share and half a share purchase warrant. Additionally, 249,230 shares were issued as a drawdown fee. The company plans to use the proceeds for technology and product development, commercialization, and working capital. To date, Hillcrest has received a total of $1,465,673 from the facility, issuing 6,915,493 shares and 3,225,336 warrants.

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Hillcrest Energy Technologies (CSE:HEAT)(OTCQB:HLRTF)(FRA:7HI), a clean technology company specializing in power conversion technologies, is set to present at the Virtual Investor Summit Microcap Event on August 20th, 2024. The event, focused on 50 micro-cap companies with catalysts or strong market performance, offers investors an opportunity to engage with Hillcrest through:

  • A presentation at 1:00 pm ET
  • 1-on-1 meetings throughout the day
  • Live Q&A sessions

The summit provides a platform for qualified investors to explore potential opportunities in the microcap sector, with Hillcrest showcasing its innovations in next-generation powertrains and grid-connected renewable energy systems.

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Hillcrest Energy Technologies (CSE: HEAT) (OTCQB: HLRTF) has submitted a drawdown notice for $540,000 from its $5 million equity drawdown facility. The company will issue units consisting of one common share and half a warrant at a price based on market conditions. Warrants will be exercisable for three years at 125% of the issue price or the CSE minimum. A 12% drawdown fee is payable in shares or deducted from the advance. The drawdown is expected to close around August 2, 2024, subject to conditions. Proceeds will fund technology development, commercialization, investor relations, and working capital. Securities issued will have a four-month hold period.

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Hillcrest Energy Technologies has launched a testing and demonstration program for its new Zero Voltage Switching (ZVS) technology application aimed at power factor correction (PFC). The prototype showcases the efficiency and cost-saving potential of their ZVS technology in improving PFC, with current discussions underway with five clients. The ZVS technology promises efficiency exceeding 99% and significant reductions in electromagnetic interference and filter size, enhancing power quality and grid stability. This advancement could lead to substantial operating and capital cost savings, particularly for grid-connected electrical equipment and various industrial applications.

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Hillcrest Energy Technologies has announced that all demonstration slots for its Zero Voltage Switching (ZVS) inverter technology for 2024 have been booked, with new requests being scheduled into early 2025. The company attributes the surge in interest to the superior efficiency (up to 99.7%) and electromagnetic compatibility (EMC) of its ZVS inverters. Hillcrest's technology is expected to offer up to $2,200 in cost savings per electric vehicle and improve power quality in grid-connected applications. The company sees significant market potential for its technology, particularly in renewable energy and energy storage sectors. Additionally, Hillcrest has extended its agreement with Outside the Box Capital for investor marketing services until March 31, 2025, at a cost of $250,000.

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Hillcrest Energy Technologies (CSE: HEAT, OTCQB: HLRTF, FSE: 7HI) announced a joint development agreement with Ocean Batteries AS to deliver 300kVA | 800V ZVS inverter prototypes. These inverters will be integrated into Ocean Batteries' onshore energy storage systems. Ocean Batteries, known for their high-efficiency marine electrification systems, aims to expand into onshore energy storage. This partnership marks Hillcrest's first deployment of ZVS inverter technology into grid-connected applications, targeting the rapidly growing European energy storage market, projected to grow at over 18% CAGR through 2029. Successful integration could lead to significant annual sales revenues for Hillcrest.

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Hillcrest Energy Technologies has announced the results of its Annual General Meeting (AGM) held on June 5, 2024. Shareholders voted in favor of all items, including the re-election of the current seven-member Board and the appointment of DeVisser Gray LLP as the company’s auditor. Additionally, shareholders approved the company's 10% rolling restricted share unit plan and the 10% rolling stock option plan with proposed amendments. David Farrell was re-elected as the Independent Chair.

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Hillcrest Energy Technologies (CSE: HEAT, OTCQB: HLRTF, FSE: 7HI) announced the completion of a non-brokered private placement, raising gross proceeds of $882,500. The offering involved 3,530,000 units priced at $0.25 each, including one common share and one share purchase warrant. Each warrant allows the purchase of another share at $0.30 for 36 months, with an accelerated expiry clause. Additionally, Hillcrest issued 36,000 compensation warrants to an arm's length service provider under similar terms. The raised funds will support marketing, investor relations, technology development, and general working capital. Notably, a director and officer involved, subscribing to 600,000 units, making it a related party transaction under MI 61-101. All issued securities are subject to a four-month hold period.

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