Electric vehicle (“EV”) owners are currently living through a scenario not entirely dissimilar to that being borne by their internal combustion engine vehicle driving counterparts. Over the past year, several car-charging operations have shifted away from EV owners paying per charging session, rather opting to have customer pay per kWh of energy input. However, and unlike gasoline-powered vehicles, paying per unit of electric power for an EV can be confounding. In one test, an EV using a commercial charging point was revealed to be taking on 27.83 kW – despite the battery pack of the vehicle boasting a total capacity of 27 kWh and still possessing a slight level of charge (https://ibn.fm/34S25). The key difference comes down to efficiency losses, a paradigm which Hillcrest Energy Technologies (CSE: HEAT) (OTCQB: HLRTF) (FRA: 7HIA.F), a clean technology company developing transformative power conversion technologies, seeks to address.
According to Korean automaker Kia, it is typical for an electric vehicle’s onboard charger to lose 14 percent or more of the energy inputted on the way to the battery pack’s cells. Furthermore, electric vehicles equipped for 800V architecture – are habitually obliged to carry an onboard booster unit to make them compatible with traditional 400V chargers. Extra equipment in an EV, such as the booster, adds weight and cost – both factors that impact range and affordability of an EV. Hillcrest Energy Technologies has sought to resolve these issues and more through their proprietary and simplified EV charging solution.
The company recently filed a patent for its enhanced powertrain solution, a bidirectional charging architecture that leverages the efficiency and high switching frequency capabilities of the company’s high-efficiency traction inverter to simplify the overall powertrain system and enhance an EV’s performance and capabilities beyond what is currently available. With this solution, EVs would no longer require an onboard charger or booster, which is expected to improve the input power efficiency and reduce the cost, complexity, and weight of an EV powertrain. Elimination of the onboard charger would also allow an EV to be AC-charged with the maximum power capability of the traction inverter or of the AC charging source (whichever is lower) regardless of the system voltage.
Additionally, the technology is intended to enable DC fast charging of 800V traction systems on existing 400V chargers without the need for an onboard booster unit. Booster units are typically of a similar size and cost to the EV’s traction inverter. Eliminating the need for this unit as well as the onboard charger goes a long way in improving system efficiency, simplifying an EV and providing meaningful reductions in weight and cost and improvements.
Markets and Markets published a report in 2019, confirming expectations that power inverter demand is expected to grow sharply within the next decade (https://ibn.fm/Xh3fU). According to the Traction Inverter Market propulsion analysis, the global traction inverter market is projected to reach $7.7 billion by 2025 due to an influence from stringent emission norms to prevent environmental impact, technological advancements in EV’s, increasing subsidies and tax rebates offered by governments and growing EV production.
Hillcrest’s management team leverages decades of experience across multiple energy-focused industries, including clean technologies, progressive policy leadership, electrification technology deployment, and capital markets. With a successful track record that includes a strategic exit from fossil fuels, Hillcrest is favorably positioned to address the unique demands of the growing renewable energy industry.
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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