Hillcrest Energy Technologies Ltd (CSE:HEAT, OTCQB:HLRTF) said it achieved significant progress in 2022, including the validation of its Zero Voltage Switching (ZVS) Inverter technology through the publication of two white papers.
In a letter to shareholders, Hillcrest CEO Don Currie said 2022 had been a tremendous year, as the company met or exceeded every milestone it had set out to achieve.
“We entered the year with a proof of concept for our core technology, the Hillcrest ZVS inverter technology, and progressed through design, commissioning and finally completion of our first customer-centred product,” he said.
READ: Hillcrest Energy moves forward with grid-tied power conversion tech after completing prototype
Other highlights from the past year included the completion of 800V 250kW EV traction inverter commercial prototype and the announcement of projects with two co-development partners, with additional co-development agreements expected in early 2023.
“Our technical team has delivered at every level and excitement is building around even bigger expectations in 2023,” Currie commented.
The full shareholder letter can be found here.
Hillcrest is a clean technology company developing transformative power conversion technologies and control system solutions for next-generation electrical systems.
Contact the author at emily.jarvie@proactiveinvestors.com
Follow her on Twitter @emilyjjarvie