Transformation Oel/Gas zu Clean Energy Tech

Hillcrest Petroleum Begins Trading on Canadian Securities Exchange Under New Symbol ?HEAT?

VANCOUVER, B.C., March 31, 2021 ? Hillcrest Petroleum Ltd. (CSE: HEAT) (OTCQB: HLRTF) (FRA: 7HI.F) (?Hillcrest? or the ?Company?) today announced that, further to its news release dated March 29, 2021, the Company is now approved and listed on the Canadian Securities Exchange (?CSE?) trading under the new symbol ?HEAT?.

Hillcrest?s move to the CSE signals an increased focus on the Company?s mission to accelerate the transition from fossil fuels to clean energy and advance the Company?s technology portfolio. Investment in electric machine control software IP and further exploration and development of commercial applications in electric vehicles, motors and power generators among other systems remains a key area for the Company.

?As global demand for clean energy sources continues to grow, our aim is to take a first-mover approach with IP development and create the conditions and capacity to get these innovations into the real world,? said Hillcrest CEO, Don Currie. ?The entrepreneurial culture found within the CSE provides us with greater freedom to make these moves, and our momentum is only increasing. As our plans to innovate with greater velocity unfold, we?ll be working hard to drive the type of transformative change needed to meet our goals.?

About the Company

Hillcrest Petroleum Ltd. intends to be a leader in the transformation of the energy sector in Canada and throughout the world. The Company, in addition to the production of oil from the West Hazel asset, is adding clean energy technologies that help unlock efficiencies and maximize performance of electric systems and machines. From concept to commercialization, Hillcrest is investing in the development of energy solutions that will power the future. Hillcrest Petroleum Ltd. is publicly traded and currently listed on the CSE under the symbol ?HEAT?, on the OTCQB Venture Market as ?HLRTF? and the Frankfurt Stock Exchange as ?7HI.F?

https://hillcrestenergy.tech/news/2021/03/...e-under-new-symbol-heat/
 

Hillcrest Acquires ANIGO Technologies Inc. ? Ari Berger joins Hillcrest Executive Team as CTO

VANCOUVER, B.C., April 6, 2021 ? Hillcrest Petroleum Ltd. (CSE: HEAT) (OTCQB: HLRTF) (FRA: 7HI.F) (?Hillcrest? or the ?Company?), today announced the acquisition of ANIGO Technologies Inc. (?ANIGO?), a privately-owned engineering product development company and developer of proven electric machine control software IP. This software IP, specifically designed for use with electric motors, electric generators and other integrated power systems, has the potential to greatly enhance the performance of any application requiring precise control of rotating electric machines.

Under the terms of the agreement, ANIGO, including the software IP developed and owned by the ANIGO, becomes a wholly owned subsidiary of Hillcrest.  Ari Berger, ANIGO?s founder, has joined Hillcrest?s executive team as Chief Technology Officer and will lead Hillcrest?s technology research, development and deployment efforts. Mr. Berger will advance Hillcrest?s core capabilities by: aggressively developing and accumulating high-value IP solutions; recruiting specialist engineers to build out the internal technical team; and forming value-add partnerships to establish greater collaboration and commercialization opportunities.

?This acquisition solidifies our foothold in the clean tech software space, giving us a foundation on which to build value and grow,? said Hillcrest CEO, Don Currie. ?Ari?s field of vision is significant and impactful. By bringing both the IP and its inventor into Hillcrest, we?re able to stay agile, further strengthen our team, and pursue collaboration opportunities with EV and electronics innovators who recognize the increased value and substantial performance benefits that Hillcrest?s next-level IP will enable.?

High value market opportunities include:

   Precision control systems ? aeronautical applications, autonomous vehicles, etc.;
   Traction control systems ? electric motors and powertrains to increase power/speed/torque performance or extend EV range;
   Electrical generator controls ? to convert and deliver renewably generated electricity; and
   Control software enhancements ? connectivity associated with emerging technologies such as blockchain, IoT and others

?The need for electric machine control software that enables intelligent electricity generation and improves the performance of electric motor systems will be in growing demand for decades,? said Ari Berger, Hillcrest CTO. ?Relative to other technologies, we are intentionally prioritizing software IP as it presents the most effective path toward commercialization, due to its short customization and adaptation times and low cost. I?m excited to become a significant shareholder of Hillcrest and to have the support and resources in place to push forward and capitalize on our IP.?

In exchange for purchasing ANIGO, Hillcrest issued the owners of ANIGO 6,000,000 Hillcrest common shares and paid $200,000 in cash.

About Hillcrest

Hillcrest intends to lead by example to decarbonize the energy sector. The Company, as it pivots from the production of fossil fuels at its West Hazel asset in Saskatchewan, has added clean energy technologies that help unlock efficiencies in electrification and maximize performance of electric systems including electric vehicles, motors and electric generators. From concept to commercialization, Hillcrest is investing in the development of energy solutions that will power the future. Hillcrest is publicly traded and currently listed on the CSE under the symbol ?HEAT?, on the OTCQB Venture Market as ?HLRTF? and the Frankfurt Stock Exchange as ?7HI.F?.

https://hillcrestenergy.tech/news/2021/04/...t-executive-team-as-cto/
 

VANCOUVER, B.C., April 12, 2021 ? Hillcrest Energy Technologies, Ltd. (CSE: HEAT) (OTCQB: HLRTF) (FRA: 7HI.F) (the ?Company? or ?Hillcrest?) today announces the closing of a $5,000,000 equity facility agreement (the ?Investment Agreement?) provided by Mercer Street Global Opportunity Fund, LLC (the ?Investor? or ?Mercer Street?). Hillcrest has received in escrow a First Tranche of CDN $2,240,000.  Hillcrest has the right, but not the obligation, to request further tranches under the Investment Agreement which are to be made available upon certain general conditions being met.  Funds drawn are immediately converted into share units in the Company.  

?I am delighted to partner with Mercer Street who was introduced to Hillcrest by Amvest Capital, acting as sole placement agent through Mann Mann Jensen Partners LP . This funding, combined with monthly production revenues, creates a strong financial foundation that not only meets our anticipated commitments through the upcoming fiscal year, it also expands our ability to pursue new development partnership opportunities and execute against internal IP development initiatives,? said Hillcrest CEO, Don Currie. ?Mercer Street?s shared vision for Hillcrest to be a leading catalyst in the transition to clean energy is backed by their unwavering support to see the team succeed.?

THE AGREEMENT

The Investment Agreement provides for unit (each a ?Unit?) private placement offerings (the ?Offerings?) to be conducted between the Company and the Investor over a 12-month period commencing on April 9, 2021 (the ?Term?).  Each Unit consists of one common share (each, a ?Common Share?) of the Company and one-half of one Common Share purchase warrant (each whole warrant, a ?Warrant?), with each Warrant exercisable into one Common Share at the Warrant Exercise Price (as defined below) for a period of 24 months from the closing date of each Tranche. The Offerings will be completed in tranches (each a ?Tranche?), with each Tranche initiated by the Company and subject to acceptance by the Investor. A subsequent Tranche may not be initiated until the expiry of thirty trading days following the closing of the previous Tranche. The maximum amount of Units that may be subscribed for over the Term is $5,000,000.  

The Investment Agreement provides that the purchase price (?Purchase Price?) for each Unit purchased by the Investor in each Tranche shall be priced at a discount of 20% to the 20-day volume weighted average price (the ?Market Price?) of the Common Shares traded on the facilities of the principal exchange on which the Common Shares are listed, or such greater price as dictated by Policy 6 of the Canadian Securities Exchange (the ?Exchange?), prior to the date of the filing of a CSE Form 9 with respect to each Tranche. The exercise price of the Warrants (?Warrant Exercise Price?) for each Tranche shall be set at a 50% premium to the Purchase Price.

In connection with a closing each Tranche, a finder shall receive a fee in the amount of 7% payable in cash for the aggregate proceeds to the Company on each Tranche, and Common Share purchase warrants in the amount of 7% of the aggregate number of Units sold in each Tranche (the ?Finder?s Warrants?), with the Finder?s Warrants being exercisable at the same price at which such Units were distributed, or such higher price as may be required under the policies of the Exchange, for a period of 36 months from the date of distribution.

Pursuant to the Investment Agreement, the Company has closed in escrow, subject to ordinary closing conditions, a first Tranche in the amount of CDN $2,240,000 (the ?First Tranche?), pursuant to which the Company has issued 13,176,470 Units consisting of 13,176,470 Common Shares issued at a price of $0.17 per Common Share, and 6,588,235 Warrants exercisable at a price of $0.26 per Common Shares until April 9, 2023. The conversion price is based on the previous 20 days volume weighted average price (VWAP) which at time of closing April 8th was 0.2115 cents.  In connection with the First Tranche, the Company has issued to the Investor a fee of CDN $100,000, paid in Common Shares issued with a deemed issue price equal to the Market Price (the ?Share Payment?). All securities issued in connection with the First Tranche and the Share Payment are subject to a statutory hold period of four-months and one day ending on August 10, 2021.

The Company intends to use the net proceeds of the Offering for general working capital.

The Company has also granted an aggregate of 13,700,000 restricted stock units (RSU) to certain directors, officers, consultants and employees of the Company as long-term incentive and performance awards, all in accordance with its restricted share unit plan (the ?RSU Plan?).  The RSU?s are subject to vesting criteria, most of which have already been met.

https://hillcrestenergy.tech/news/2021/04/...tnr_mercer_20210412-pdf/
 

Hier der Link zum CAN-Forum: https://ceo.ca/heat

Hier werdet ihr alle Informationen finden. Schaut auch in das Community Wiki.

HILLCREST ENERGY TECHNOLOGIES
(HEAT.)

https://www.proactiveinvestors.com/companies/news/...-usa-919399.html

This is the actual technology.

https://medium.com/ijtcse-research-issn-2349-1582/...tor-e3bfbc54fce6

https://www.slideshare.net/mobile/PDiCEOThaneHeins3240

https://cdn-ceo-ca.s3.amazonaws.com/...2021-02-02%20at%2012.43.32.jpg

Who is Ari Berger? This link will help. https://ca.proactiveinvestors.com/companies/amp/news/933474

A little info on Ari Berger (CEO. of ANIGO) and currently is the General Manager of Technology Development at HRH.
https://www.linkedin.com/in/ari-berger-electrification

Ari Berger worked at EXRO. from April 4th, 2019 -  Nov 9th, 2020   and during that time EXRO. stock price climbed from $0.31 - $2.96.

Ari Berger and ANIGO are entering into a joint venture with hillcrest to be confirmed in the coming weeks.

https://ceo.ca/@thenewswire/hillcrest-signs-technology-transfer-moi

The Electric Motor Control is essential to the success of the green transition of HRH and the development to Thane Heinz REGENX technology.
"EV Battery Tech signs Letter of Intent to Develop ESS Solutions for Renewable Energy" https://ca.finance.yahoo.com/news/...tech-signs-letter-130000276.html

This link shows the significance of ACDC and what they bring to the table and there connections aka: Richpower. A massive advantage https://ceo.ca/@nasdaq/...y-tech-closes-acquisition-to-bring-patented

https://cdn-ceo-ca.s3.amazonaws.com/...hot_20210112-104733_Chrome.jpg

"The junior oiler (HRH.) said it has signed a memorandum of intent securing an option to market licenses for the tech in the EU through ALSET Innovations Ltd, which is a private company owned by Hillcrest and its partner, Oropass Ltd, formed as the vehicle for their joint venture, which was announced on May 4." "This is an important easter egg moment: The company Alset that is owned by HRH is in fact "Tesla" spelt backwards!!

"EV Battery Tech Announces Specs of the IoniX Pro Home Smart Wall" https://ca.finance.yahoo.com/news/...h-announces-specs-102000023.html

Thane Heinz took his prototype to MIT and they tried to laugh  him out the door. However, by the end of his demonstration they were believers but were unable to explain why or how it worked. This was 20 years ago and it has come a long ways since. Thane Heinz has proven his theory on multiple occasions including a lab in France and it has been confirmed to work but no official 3rd party has ever been done till now.

Thane Heinz is a modern day mad scientist and is very difficult to work with. He has lost his wife and kids to his commitment to his technology over the past 20 years and is having a tough time letting it go, similar to allowing your kids to leave home. Enter Don Currie who is in business with JC Cunningham ( CEO of Westcan) the brother in law ( married to Heniz sister) to a family member of Heinz to which has gained the trust of Heinz to commercialize his invention, and has entered into a definitive agreement with Hillcrest Petroleum. Heinz is having a tough time giving up control.

https://ca.proactiveinvestors.com/companies/news/...ership-14260.html

Enter Ari Berger.
Ari Berger (ANIGO) actually became aware of the Thane Heinz technology on his own. He is very successful from his time at EXRO. This guy doesn't need money or a job for that matter, but after seeing the tech he sought after Don Currie (HRH.) on LinkedIn and they talked and next thing you know Ari Berger is bringing his expertise and experience to HRH.
https://thedeepdive.ca/...uires-electric-machine-control-software-ip/

To develop and commercialize the technology, and to integrate with his own electric motor control technology.

https://ceo.ca/@thenewswire/...ires-anigo-technologies-inc-ari-berger

Hillcrest petroleum Webinar Dec 15, 2020 https://www.gotostage.com/channel/...b7c6-77c8-4cd5-be25-6ea2adfcfc81

[https://youtu.be/tnIUPkydv5g](https://youtu.be/tnIUPkydv5g+)

###Heinz USA registered Patents.##$

https://patents.justia.com/inventor/thane-c-heins

https://cdn-ceo-ca.s3.amazonaws.com/...2021-02-02%20at%2013.15.06.jpg

https://cdn-ceo-ca.s3.amazonaws.com/...2021-02-02%20at%2013.15.19.jpg

https://cdn-ceo-ca.s3.amazonaws.com/...2021-02-02%20at%2013.15.30.jpg

Jan 18, 2021

Most electric motors are designed to run at 50% to 100% of rated load. Maximum efficiency is usually near 75% of rated load. Thus, a 10-horsepower (hp) motor has an acceptable load range of 5 to 10 hp; peak efficiency is at 7.5 hp. A motor's efficiency tends to decrease dramatically below about 50% load.

To express the efficiency of a generator or power plant as a percentage, divide the equivalent Btu content of a kWh of electricity (3,412 Btu) by the heat rate. For example, if the heat rate is 10,500 Btu, the efficiency is 33%. If the heat rate is 7,500 Btu, the efficiency is 45%.
HRH is increasing to a potential of 80%

https://ceo.ca/@thenewswire/...s-conditional-approval-for-cse-listing

The Company believes listing the Shares on the CSE will deliver additional value to the shareholders as a result of the Company being subject to reduced filing fees, lower compliance and legal costs and other fees. The Company will also have increased flexibility to expand in multiple areas of operation.
Reason why...It's about the industry. Oil vs energy. HRH can't stay on TSX because of the filing has to be OIL first then energy. CSE is more flexible in that way they can files for Energy only
This enables HRH/ HEAT. to have the oil assets and the green tech assets on one listing  

VANCOUVER, B.C., April 14, 2021 ? Hillcrest Energy Technologies Ltd. (CSE: HEAT) (OTCQB: HLRTF) (FRA: 7HIA.F) (?Hillcrest? or the ?Company?) has signed a five-year Technology Collaboration Agreement with Systematec GmbH, a German specialist engineering innovator and component designer to Airbus, Audi, BMW, Continental, Volvo Truck Corporation, and other hybrid automobile/EV and electrical equipment manufacturers. Technical teams on both continents will jointly manage engineering activities to leverage Hillcrest?s electric machine control software and develop high-value power electronics and electromechanical IP and technology for commercialization. All products and IP developed through this collaboration will be owned by Hillcrest.

The companies will each contribute technologies, IP and global business networks to source, develop and deliver business opportunities. Hillcrest will have dedicated access to Systematec?s electronics and mechanical engineering design and prototype manufacturing services. Additionally, Hillcrest is in the process of acquiring additional internal expertise and securing facilitates that will be dedicated to technology development activities.

?Both parties expect this partnership to be an enduring collaboration running beyond the term of the current agreement.? said Hillcrest Energy Technologies CEO, Don Currie. ?Through Systematec?s deep knowledge of the German automotive/EV and electrical equipment industries, Hillcrest gains real time access to emerging power electronics design technologies and related value opportunities, allowing us to effectively anticipate new control system requirements with a first mover advantage. Systematec has extensive industry networks developed over decades that complement our growing tech portfolio. Together we plan to introduce industry-leading control systems with new levels of functionality and unprecedented performance.?

Technical planning, focused on sophisticated control systems with next-level energy conversion systems, is already underway. Potential opportunities of focus include electrical inverters for high performance electric drive systems, DC/DC converters to enable widespread application of fuel cells in trucks and heavy machinery, and other emerging requirements that serve growing global market needs.

?Teaming up with Hillcrest opens access to innovation paths and commercialization opportunities not previously available to our company,? said Harald Hengstenberger, Systematec CEO. ?Working with Hillcrest to combine their proven, control software technology with Systematec?s demonstrated expertise in power electronics and electromechanical component design, unlocks potential to innovate, design and produce new, high value products for EV and other industry customers. We are excited to be working with Hillcrest?s team and are eager to deliver potentially disruptive technology to market.?

?Systematec is a highly-respected engineering group run by talented industry peers with decades of experience designing, developing and commercializing specialized industrial, automotive and e-mobility applications,? said Ari Berger, Hillcrest CTO. ?Global e-mobility and electrification are areas of intensely competitive activity worldwide and both companies understand it?s a high stakes business. Partnering with an established automotive industry insider like Systematec is key to securing our competitive advantage. This partnership ensures seamless integration between control software and electronic and electro-mechanical components which is essential to the leading-edge functionality we plan to deliver.?

Hillcrest?s obligations under the five-year agreement with Systematec include approximately 660,000 ? per year, for specialized engineering and development expertise along with introductions to a vast European network. To incentivize Systematec and align interests, Hillcrest will issue to Systematec 2,750,000 common shares upon signing and 2,000,000 performance-based warrants priced at $0.24 per share which will vest when Hillcrest?s value from joint development commercialization revenues exceeds funds contributed to the Systematec collaboration to that date.

https://hillcrestenergy.tech/news/2021/04/...ering-leader-systematec/
 

Hillcrest wird als Referenz mit aufgeführt. Zwischen all den anderen großen Playern wie Audi, Bosch, Airbus, BMW usw. das ist mal Werbung und wird die Aufmerksamkeit für Hillcrest weiter steigern.

https://www.systematec.de/referenzen/

Bitte seid doch so gut und gibt diesem Forum ein Sternchen, damit wir weitere Aufmerksamkiet bekommen. Vielen Dank - Euer Markus  

Hillcrest Energy Technologies Signs MOI to Enter Electric Vehicle Charging Market

VANCOUVER, B.C. - TheNewswire - April 19, 2021 - Hillcrest Energy Technologies (CNSX:HEAT.CN) (OTC:HLRTF) (FRA:7HIA.F) (?Hillcrest'' or the ?Company?) today announced its intention to enter the electric vehicle charging market. Hillcrest has signed a Memorandum of Intent (MOI) with a privately held, British Columbia company (?EV Deal Co?), firmly established in the EV charging market and emerging as a growing total EV solutions provider.  Under the terms of the non-binding MOI, Hillcrest would take an initial 30% equity stake and have the option to acquire an additional 21% stake within two years from the effective closing date.

In addition to the current revenue generating operations, each party will contribute engineering expertise, IP and technologies into the proposed transaction and intend to jointly develop and commercialize new products and technologies.

With years of experience securing and servicing provincial, municipal, commercial, multi-family and individual contracts, EV Deal Co is a recognized provider of electric vehicle supply equipment. EV Deal Co?s unique approach to customer acquisition is characterized by its ability to offer total charging solutions, including EV charging stations and software solutions that include proprietary management system software, mobile and web applications.  

?Hillcrest?s corporate foundation continues to strengthen as we add software, systems, and engineering vision that increases our impact and ability to innovate,? stated Don Currie, Hillcrest CEO. ?This past month, we have acquired ANIGO and control system expertise, have closed a Collaborative Agreement with Systematec which aligns Hillcrest with a premier German EV technology developer, and now have the opportunity to acquire ownership in a company that has operations, commercial networks and ongoing interests within the green energy industry. Adding new revenue potential and additional opportunities to develop and showcase our tech is another step toward our goal of becoming a fully vertically-integrated energy technology company.?

Already, both Hillcrest and EV Deal Co have identified potential areas where the Company?s control system software expertise, along with Systematec?s power electronics expertise, could be applied to existing and new EV charging solutions. Hillcrest and EV Deal Co intend to complete due diligence and advance the non-binding MOI to a binding definitive agreement.  Hillcrest will provide the market with updates in due course.

The Company also is pleased to announce it has retained General Research, a Munich, Germany-based investor relations firm, owned and operated by Dr. Georg Hochwimmer. General Research will operate at arm's length to the Company and will provide a variety of business development and investor relations services, including, without limitation: corporate positioning, introductions to potential customers for the Company?s technologies, assistance with the dissemination of news and information to the public and initiating and maintaining contact with the investment community in Europe.  The initial term of the General Research Agreement is 12 months at a cost of CDN $10,000 per month.

About Hillcrest Energy Technologies

Hillcrest is a clean tech innovation and development company on the rise. Working to decarbonize and electrify the energy sector, the Company intends to lead by example as it transitions from the production of fossil fuels from its West Hazel asset in Saskatchewan, to clean energy technologies that help unlock efficiencies in electrification and maximize performance of electric systems including electric vehicles, motors and electric generators. From concept to commercialization, Hillcrest is investing in the development of energy solutions that will power the future. Hillcrest is publicly traded on the CSE under the symbol ?HEAT?, on the OTCQB Venture Market as ?HLRTF? and the Frankfurt Stock Exchange as ?7HIA.F?.  

https://ceo.ca/@thenewswire/...chnologies-signs-moi-to-enter-electric
 

https://www.prnewswire.com/news-releases/...ic-advisor-301292178.html

 

https://www.gotostage.com/channel/...e9aa0f4f448e36b647ea978354/watch

Hillcrest Energy Technologies live webinar, Thu, May 20, 4:05 PM EDT
ABOUT THE COMPANY
Hillcrest Energy Technologies (CSE: HEAT, OTCQB: HLRTF, FRA: 7HIA.F) is a clean tech innovation and development company on the rise. Working to decarbonize and electrify the energy sector, the Company intends to lead by example as it transitions from the production of fossil fuels from its West Hazel asset in Saskatchewan, to clean energy technologies that help unlock efficiencies in electrification and maximize performance of electric systems including electric vehicles, motors and electric generators. From concept to commercialization, Hillcrest is investing in the development of energy solutions that will power the future. Hillcrest is publicly traded on the CSE under the symbol ?HEAT?, on the OTCQB Venture Market as ?HLRTF? and the Frankfurt Stock Exchange as ?7HIA.F?.

ABOUT AMVEST CAPITAL
Amvest Capital is a New York-based specialist investment management and corporate finance firm focused solely on the natural resources sector. You can learn more about Amvest Capital and our webinars at https://www.amvestcapital.com/webinars  

Eines Tages wird hier der Deckel richtig heftig weg fliegen....

https://www.newswire.ca/news-releases/...ctric-systems-824986949.html

VANCOUVER, BC, July 8, 2021 /CNW/ - Hillcrest Energy Technologies (CSE: HEAT) (OTCQB: HLRTF) (FRA: 7HIA.F) ("Hillcrest'' or the "Company"), a clean tech innovation and e-mobility development company, is pleased to announce it is developing a next-generation High Efficiency Inverter (HEI) designed to significantly improve the energy and power efficiencies of future Electric Vehicle (EV) powertrains and other e-mobility and motorized applications, as well as charging stations and power generation systems.

Now in proof-of-concept development, HEI builds on the close integration of innovative hardware and software technologies from Hillcrest and Systematec, uniquely configured to deliver the very precise and accurate control systems required to unleash a next-generation inverter's ultra-high efficiency potential.  Hillcrest's HEI will use extremely high switching frequency to deliver substantial and unprecedented energy and power efficiency gains over existing inverter technology. Adaptive control mechanisms will also be incorporated to enable wide operating ranges, beneficial to highly dynamic systems such as EV's.

"Working closely with Systematec, we have already confirmed our HEI control architecture with computer simulations and are now aggressively developing our HEI proof-of-concept prototypes for demonstration and eventual commercialization," said Ari Berger, Hillcrest CTO. "This is our first aggressive development push, but I can confirm it's not the only groundbreaking technology currently in development."

Inverters are essential components of EV and other electric powertrains, providing critical connectivity between battery and electric motor. Not only do they convert a battery's DC charge to AC to drive a motor, but inverters also time the switching changes to adjust the frequency of the AC output that controls motor speed. Higher switching speeds remain a constant priority for EV developers as they lead to significant decrease in switching losses and increased efficiency.  The faster and more efficient the inverter, the more efficient a vehicle, electric motor or powertrain can become.

Efficiency gains from Hillcrest's advanced inverter technology are expected to shrink the size and weight of powertrains that should reduce overall manufacturing costs, significantly increase EV range, and could potentially enable new electrification possibilities in areas such as aeronautics, commercial transport, and other industries requiring exceptional powertrain reliability and high energy density.

"We see HEI driving substantial step change improvements in powertrain design across a wide range of applications and products, where power density and very low electro-magnetic interference (EMI) are critical drivers," added Harald Hengstenberger, Systematec CEO. "With our inverter technology, EV customers could design systems offering increased driving range between charges with current battery sizes or incorporate smaller batteries, at a lower overall cost, without sacrificing performance. Electrical equipment manufacturers could also see substantial benefit from this technology and reduce inverter losses by 40-50%. Reducing inverter losses lowers heat management requirements, meaning manufacturers can realize design improvements to significantly lower costs that ultimately result in higher financial gains."

Hillcrest will access the team's close connections with leading EV and electrical equipment manufacturing companies to define and develop specific applications. Other opportunities include licensing HEI technology to, or partnering with, EV, electrical equipment manufacturers and/or power generation equipment manufacturers  to substantially improve their product designs for mass produced electric powertrain products.

"Our team is developing disruptive technologies that have potential impact across several industries, and there's more to come," said Hillcrest Energy Technologies CEO, Don Currie. "We are quickly developing innovative e-mobility solutions that are cost-efficient and scalable, progressing at least two projects in the few months since starting our collaboration. Commercialization of key enabling technologies like HEI and other components and systems that unlock energy and power efficiencies will help to drive a more equitable, low carbon future, and formally establish Hillcrest as a leading innovator."

About Hillcrest Energy Technologies
Hillcrest is a clean tech innovation and e-mobility development company on the rise. Working to decarbonize and electrify the energy sector, the Company intends to lead by example as it transitions from the production of fossil fuels from its West Hazel asset in Saskatchewan, to clean energy technologies that help unlock efficiencies in electrification and maximize performance of electric systems including electric vehicles, motors and electric generators. From concept to commercialization, Hillcrest is investing in the development of energy solutions that will power the future. Hillcrest is publicly traded on the CSE under the symbol "HEAT", on the OTCQB Venture Market as "HLRTF" and the Frankfurt Stock Exchange as "7HIA.F".