As Mercedes Sees Market Turning to EVs, Hillcrest Energy Technologies Ltd.’s (CSE: HEAT) (OTCQB: HLRTF) (FRA: 7HIA) Charging Technology Becomes Increasingly Important

• The IEA sees EV sales hitting a record in 2022 after doubling in 2021 from 2020, while noting the lack of charging infrastructure as an obstacle for adoption
• Hillcrest Energy has developed a new class of inverters that convert DC output from batteries into AC input used by motors in EVs
• Hillcrest filed a patent application for new tech that eliminates the need for EVs to require and onboard charger, allowing for faster, anywhere charging

During an interview last week with CNBC’s Jim Cramer, Mercedes-Benz CEO Ola Kallenius said he is seeing the market for luxury vehicles progressively turning towards electric vehicles. The Daimler unit has a corporate goal to have an EV version of every model it makes by 2025 and to be all-electric where possible by the end of the decade. The global transition to phase out internal combustion engines is wonderful for Mother Earth, but it is accompanied by a litany of challenges, including a charging conundrum related to strain on an aging and already overworked electricity grid. The good news is that thanks to companies like Hillcrest Energy Technologies (CSE: HEAT) (OTCQB: HLRTF), new technology is becoming available as a solution applicable to EVs and other emerging green energy products.

According to the International Energy Agency, EV sales are tracking to hit a record high in 2022 after sales doubled in 2021 from 2020. In its Tracking Clean Energy Progress update, the IEA forecast EV sales to comprise 13% of total light duty vehicle sales globally this year. The agency notes that one hang up in EVs becoming a global phenomenon is lack of charging infrastructure availability.

A charging station on every corner is what most people envision as the answer. Others are turning to innovation.

Hillcrest, which once was a fossil fuel producer from its asset in Saskatchewan, Canada, has made the change into a clean energy technology company, with its flagship product a single high-efficiency inverter architecture for use throughout electrification ecosystems, from renewable energy generation to EV charging and operation. A new class of inverter technology, Hillcrest’s Silicon Carbide (“SiC”) traction inverter technology converts DC (direct current) output from batteries into AC (alternating current) input used by motors.

The unique design enables power applications to utilize higher switching frequencies and realize increased traction motor performance and reliability while operating at higher power levels without sacrificing efficiency. The inverter touches all the key points EV makers are seeking reducing battery size and weight, minimizing overall system complexity, and reducing costs.

Hillcrest ran its proof of concept technology through the rigors in internal testing earlier this year, releasing two white papers demonstrating the benefits and durability of its inverters.  It’s first traction inverter commercial prototype is expected by the end of the year.

Furthermore, Hillcrest in January filed a patent application for a simplified EV charging solution leveraging its inverter tech to provide universal, backward compatible, bidirectional (“V2X”) charging capabilities. In simpler terms, this solution eliminates the need for EVs to require and onboard charger, allowing for faster, anywhere charging at a wide range of power levels.

The company hopes to name a launch partner and for proof-of-concept validation next year. Bringing this technology to market could reshape EV charging infrastructure needs.

“An EV capable of accessing AC or DC power across a variety of voltage levels in a wired or wireless environment offers a new level of interoperability not currently available. This could dramatically change the way we think about charging infrastructure and broaden the charging options available to drivers now and in the future,” said Hillcrest CTO Ari Berger.

EV powertrains are the low hanging fruit for Hillcrest as it moves into the commercialization stage, but applications abound in new markets where efficient use of power and bidirectional charging are the wave of the future. Usage in wind turbines and solar energy systems can help stabilize the existing electrical grid with the added perk of reducing heat buildup in systems, meaning less wear and tear on parts and reduced stain on thermal management components.

For more information, visit the company’s website at www.HillcrestEnergy.tech.

NOTE TO INVESTORS: The latest news and updates relating to HLRTF are available in the company’s newsroom at https://ibn.fm/HLRTF

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