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 Ltd. (OTCQB: HLRTF) generates news primarily around the development and commercialization of its proprietary Zero Voltage Switching (ZVS) power conversion technology. As a Canadian clean technology company focused on advanced power electronics for electric vehicles, grid-connected renewable energy systems, energy storage, data centers, and marine applications, Hillcrest’s announcements provide insight into how its technology is progressing from concept to market-ready solutions.
News updates frequently cover technology milestones, such as efficiency results from traction inverter and power factor correction (PFC) prototypes, completion of evaluation phases with a global Tier 1 automotive supplier, and publication of technical white papers on ZVS-optimized components like AC filter inductors. These items highlight how ZVS is being validated in real-world automotive and grid-connected environments.
Investors and industry followers can also expect commercialization and partnership news. Hillcrest regularly reports on collaborations with organizations including Systematec GmbH in Germany, Ocean Batteries AS in marine electrification, Pasqua First Nation and Apeiron Resources Ltd. for Canadian commercialization and potential manufacturing, and Energy Plug Technologies Corp. for aerospace and defense applications. Updates on joint development agreements, memoranda of understanding, and distribution discussions illustrate how the company aims to monetize its technology.
Additional coverage includes strategic initiatives and organizational developments, such as the establishment of Centers of Excellence in Vancouver and Germany, leadership changes and new executive appointments, and financing activities that support product development and market entry. For readers tracking HLRTF, this news feed offers a centralized view of Hillcrest’s technical progress, strategic direction, and evolving role in electrification and clean energy markets.
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.
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.
Hillcrest Energy Technologies (CSE: HEAT, OTCQB: HLRTF, FSE: 7HI) announced an investor relations agreement with Gold Standard Media (GSM) effective May 31, 2024. The agreement involves GSM and affiliates providing marketing services such as digital marketing, email marketing, and influencer marketing over a twelve-month period starting June 3, 2024. Hillcrest will pay GSM $250,000, Future Money Trends (FMT) $375,000, and Wealth Research Group (WRG) $375,000 upfront. The contract also allows for an additional $300,000 in advertising services. The services will be managed by GSM's team, led by Kenneth Ameduri, Juliet Ameduri, and Lior Gantz.
Hillcrest Energy Technologies (CSE: HEAT, OTCQB: HLRTF, FSE: 7HI) announced a joint development opportunity with a European energy storage services innovator (ESS Innovator) to deliver 300kVA | 800V Hillcrest ZVS inverters. This collaboration aims to customize a ZVS inverter prototype, potentially leading to a commercial supply arrangement. The European energy storage market is projected to grow at over 18% CAGR through 2029.
Hillcrest's ZVS technology boosts efficiency and minimizes electromagnetic interference costs, broadening applications beyond EV traction inverters to include stationary, grid-connected uses.
CEO Don Currie stated that this project marks a significant milestone for the company.
Hillcrest also announced the issuance of 7,297,025 shares as incentives and the grant of 2,410,000 RSUs and 4,663,867 stock options to executives, employees, and consultants. Additionally, corrections were made to a previous news release regarding an equity drawdown facility.
Hillcrest Energy Technologies (HLRTF) is expanding its business in the UK, focusing on clean technology and power conversion. CEO Don Currie is engaging with potential partners in the region. The company closed the third drawdown of a $5 million equity facility, receiving $156,435 in funding. Hillcrest plans to use the proceeds for technology development and general working capital.
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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