Hillcrest Energy Technologies Ltd (CSE:HEAT, OTCQB:HLRTF) announced it has received support from the Canadian government through a multi-phase demonstration program with Hercules Electric Mobility.
The National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) is providing advisory services and research and development funding of up to $130,000 for the demonstration of Hillcrest's ZVS traction inverter in collaboration with a global motor supplier and Hercules Electric Mobility.
The program aims to conduct comprehensive testing and integration of the Hillcrest ZVS inverter in a recreational e-boat by Hercules Electric Mobility, gathering crucial data on power levels up to 350 kilowatts.
Hillcrest said that the funding will significantly impact the development of its two-phase demonstration program, which will include testing at the motor supplier's facility as well as integration and demonstration of the Hillcrest ZVS inverter in the Hercules e-boat.
The ZVS traction inverter is a critical component in electric vehicles, converting the battery's direct current into alternating current to power electric motors. Hillcrest's SiC traction inverters have demonstrated industry-leading efficiency of up to 99.6%, potentially leading to significant cost savings in vehicles by reducing battery size and eliminating or reducing other components and materials.
"Over the past year we've consistently demonstrated the remarkable capabilities of our proprietary ZVS inverter through progressively advanced testing with customer demonstration systems,” Hillcrest Chief Commercialization Officer James Bolen said in a statement. “This program will further that progression to live, in-vehicle demonstration under full dynamic loading, a key advancement towards definitive commercial agreements."
Hercules CEO James Breyer told investors that the company is looking forward to evaluating “efficiency and performance gains” expected from combining Hillcrest's ZVS inverter with its eDrive system.
The traction inverter is a crucial part of electric vehicles, converting the battery's power into a form that drives the vehicle's motors. Hillcrest's traction inverters use special technology to make this conversion highly efficient, potentially saving up to $2,200 per vehicle by reducing the need for certain vehicle parts and materials.