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Hillcrest Energy Technologies (HLRTF) is a clean technology company that specializes in advanced power conversion technologies and digital control systems for next-generation powertrains and grid-connected renewable energy systems. The company has made significant advancements in its Zero Voltage Switching (ZVS) technology, aiming to revolutionize power conversion solutions. Hillcrest's recent testing of its ZVS traction inverter at major European automotive manufacturer facilities has demonstrated outstanding efficiency levels. The company's ZVS technology has also excelled in electromagnetic compatibility (EMC) chamber tests, surpassing conventional counterparts in terms of performance and cost-effectiveness. With strategic expansions into battery storage, EV charging, and industrial marine applications, Hillcrest is poised to capture a wider market share and accelerate revenue generation.
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Hillcrest Energy Technologies has successfully closed the third and final tranche of its oversubscribed non-brokered private placement, raising $3,218,500 in gross proceeds. The Private Placement consisted of 12,874,000 units at $0.25 per unit, with each unit including a common share and a warrant. The Company paid commissions, finder's fees, and issued additional units to certain service providers. The net proceeds will be used for technology development, commercialization, working capital, and service provider fees.
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Hillcrest Energy Technologies (HLRTF) is experiencing substantial growth with its ZVS technology, showcasing exceptional efficiency levels in traction inverters and outperforming conventional solutions in EMC tests. The company's CEO, Don Currie, is optimistic about the commercial opportunities ahead, with a strong lineup of customer demonstrations and potential commercialization agreements. Hillcrest's strategic expansion into battery storage, EV charging, and industrial marine applications underscores its commitment to innovation and market diversification, positioning it as a frontrunner in the clean technology landscape.
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Hillcrest Energy Technologies (HLRTF) partners with Powertech Labs to develop ZVS inverter technology for grid-connected applications. The collaboration aims to accelerate commercialization and certification of the innovative technology, setting new industry benchmarks for inverter efficiency and power quality. Hillcrest also closes the second drawdown of a $5 million equity facility, issuing shares and warrants to the investor. The company plans to utilize the proceeds for technology development, commercialization, and general working capital.
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Hillcrest Energy Technologies (HLRTF) successfully completes the first in-vehicle demonstration of its Zero Voltage Switching (ZVS) traction inverter in collaboration with Hercules Electric Mobility, showcasing increased efficiency, cost-effectiveness, and reliability. The partnership validates Hillcrest's innovative technology in real-world applications, positioning the company as a key player in power conversion technologies.
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Hillcrest Energy Technologies (HLRTF) introduces groundbreaking Zero Voltage Switching (ZVS) technology platform, revolutionizing power inverters. The ZVS technology offers exceptional efficiency of 99.6%, reducing switching losses and enabling higher switching frequencies. It enhances power production, storage capabilities, and reduces the levelized cost of energy (LCOE) in grid-tied applications. Hillcrest's ZVS technology is expected to lower system costs, improve power quality, and comply with grid operator requirements, setting a new industry benchmark for power inverters.
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Hillcrest Energy Technologies successfully completes EMC chamber testing with a European automotive OEM, showcasing the superior EMC capabilities of their Zero Voltage Switching (ZVS) traction inverter. The technology could lead to significant cost savings and efficiency improvements in various electrical systems beyond EVs. Additionally, an amendment to the equity facility agreement has been made, replacing annualized interest with a drawdown fee payable in common shares.
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Hillcrest Energy Technologies appoints Dan Mathieson as a strategic advisor to drive business expansion domestically and internationally. Mathieson's experience in automotive technology and innovation positions him to propel Hillcrest's growth and technological advancement.
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Hillcrest Energy Technologies (HLRTF) announces a significant milestone for its ZVS-enabled power modules, positioning the company to take advantage of a potential new revenue stream. The next generation EV inverter featuring the new power modules is currently being used for testing and demonstration programs with various potential customers and partners. With the global power module market reaching US$2.7B in 2022 and a forecasted annual growth rate of more than 11%, this could become a valuable potential revenue stream for the company.
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Hillcrest Energy Technologies (HLRTF) is focused on customer engagements and securing commercial commitments in 2024 after significant breakthroughs in technology launches and multiple commercial engagements in 2023. The company has secured demonstrations and advanced testing opportunities with automotive OEMs and a global Tier One supplier, as well as an in-water demonstration with Hercules Electric Mobility's e-boat. Hillcrest will be using its next-generation EV inverter for demonstration and advanced testing programs, leveraging 350-kilowatt silicon carbide (SiC) technology designed for applications up to 1,000 volts, demonstrating industry-leading efficiency of up to 99.6% resulting in expected cost savings per vehicle of up to US$2,200.
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Hillcrest Energy Technologies (HLRTF) has secured a $5 million equity drawdown facility from a third-party investor. The company will pay a commitment fee of 2.5% of the total capital committed and 12% annualized interest on any drawdown amount. The Equity Facility will be used for technology and product development, commercialization, and general working capital. The first drawdown is expected to close by the end of the month.
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FAQ
What is the current stock price of HILLCREST ENERGY TECH (HLRTF)?
The current stock price of HILLCREST ENERGY TECH (HLRTF) is $0.0837 as of January 10, 2025.
What is the market cap of HILLCREST ENERGY TECH (HLRTF)?
The market cap of HILLCREST ENERGY TECH (HLRTF) is approximately 8.7M.
What is Hillcrest Energy Technologies?
Hillcrest Energy Technologies is a clean technology company that focuses on providing advanced power conversion technologies and digital control systems for future powertrains and renewable energy systems.
What is the significance of Hillcrest's ZVS technology?
Hillcrest's Zero Voltage Switching (ZVS) technology is a revolutionary power conversion solution that offers exceptional efficiency levels, surpassing conventional counterparts.
In which sectors has Hillcrest expanded its operations?
Hillcrest has strategically expanded into battery storage, EV charging, and industrial marine applications, recognizing the broad applicability of its ZVS technology.
What recent achievements has Hillcrest made?
Recent achievements include successful testing of the ZVS traction inverter at major European automotive manufacturer facilities and superior performance in electromagnetic compatibility (EMC) chamber tests.
How can Hillcrest's ZVS technology benefit the automotive industry?
Hillcrest's ZVS technology offers high-performance power conversion solutions which can lead to significant cost-saving opportunities and unparalleled efficiency levels in high-power electrical systems.
Who are some key executives at Hillcrest Energy Technologies?
Key executives include CEO Don Currie and Chief Commercial Officer James Bolen, who drive innovation in power conversion technologies and strategic expansion into new sectors.
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