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Hillcrest Energy Technologies inks MOU with Hercules Electric Mobility to build electric powertrain for e-mobility products

Published: 09:25 13 Oct 2022 EDT

Hillcrest Energy Technologies Ltd -
Hillcrest said the project will begin this month and is expected to run through March 2023, with potential applications including marine, automotive and other electric mobility products

Hillcrest Energy Technologies Ltd (CSE:HEAT, OTCQB:HLRTF) announced that it has signed a memorandum of understanding (MOU) with Hercules Electric Mobility, Inc, in which the companies will collaborate on a project to build, test and potentially commercialize a system that includes a Hillcrest 250-kilowatt, 800-volt inverter that has been optimized for a Hercules electric powertrain.

The clean energy company said the project will begin this month and is expected to run through March 2023, with potential applications including marine, automotive and other electric mobility products.

“With a shared modular design philosophy, our companies have a lot of synergies,” Hillcrest Energy Technologies CEO Don Currie said in a statement.

READ: Hillcrest Energy Technologies appoints James Bolen as its chief commercialization officer; provides product and financing updates

“This approach allows us both to adapt to customer needs, integrate the latest technologies into our products, and improve speed to market,” Currie added.

Designed to be smaller, lighter and more powerful than currently available inverters, Hillcrest technology is built on proprietary control software which, combined with unique hardware design know-how, overcomes traditional challenges faced with current wide bandgap devices, according to the company.

Hillcrest noted its inverter technology has been proven in product-development testing to reduce losses and deliver new levels of efficiency and performance in future generations of electric drive systems.

It added that the shared modular, customizable design provides the flexibility to quickly meet customer needs and adapt to the most up-to-date technologies.

If all milestones are met, Hillcrest and Hercules expect to enter into a definitive commercialization agreement, the company said.

Hillcrest Energy Technologies is a clean energy company developing high-value, high-performance power conversion technologies and digital control systems for next-generation powertrains and grid-connected renewable energy systems.

Contact Sean at sean@proactiveinvestors.com

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