Hillcrest Energy Technologies Ltd. (CSE: HEAT) (OTCQB: HLRTF) Reveals MOU With Tier-1 Automotive Supplier; Simultaneously, Announces Chief Commercialization Officer Appointment

• Hillcrest Energy Technologies announced that it had recently entered an MOU with a Tier 1 global automotive supplier centred around the development of the company’s inverter
• The company’s silicon carbide traction inverter has been designed to be smaller, slighter, and more powerful than currently available inverters – allowing automotive companies to reduce EV weight whilst simultaneously, decreasing energy losses
• Hillcrest eventually sees multiple applications for its inverter architecture, including within grid-tied renewables like wind and solar power, electricity charging and storage systems
• The company also announced the appointment of James Bolen as Hillcrest’s new Chief Commercialization Officer

Hillcrest Energy Technologies (CSE: HEAT) (OTCQB: HLRTF), a clean technology company developing transformative power conversion technologies, recently revealed that it had signed a memorandum of understanding (“MOU”) with a global Tier 1 automotive leader in mobility innovation. The agreement marks yet another milestone for Hillcrest Energy Technology, which has seen the company recently file a patent for an enhanced powertrain solution offering the potential to simplify EV charging, whilst simultaneously pursuing the commercialization of their novel high-efficiency inverter product.

The agreement will see Hillcrest Energy and the Tier 1 supplier collaborate to integrate an optimized version of Hillcrest’s 250-kilowatt (“kW”), 800-Volt (“V”) inverter into a future powertrain system. Hillcrest’s revolutionary technology, which allows for a high level of optimization and seamless integration within…

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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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