Hillcrest Energy Technologies Ltd (CSE:HEAT, OTCQB:HLRTF) told investors it is developing a new revenue opportunity, as it unveiled its ZVS-enabled power modules for high-efficiency inverters for electric vehicles (EVs).
The innovation, in the new modules, promises to revolutionise the power-switching functions in inverters by offering superior thermal control, power density, and manufacturability, the company said in a statement.
It is expected to deliver significant cost savings over traditional methods, Hillcrest added.
"Hillcrest's ZVS-enabled power modules not only elevate the performance and power density of the company's EV inverter but they also open new avenues for standalone sales,” chief commercialisation officer James Bolen said in a statement.
Ari Berger, Hillcrest's chief technology officer, meanwhile, added: "Our ZVS-enabled power modules have been designed and manufactured in-house by our team and are a testament to the combined capabilities of Hillcrest and our technology development partners at Systematec.”
"These capabilities are pivotal to our success, especially as we engage with a growing list of potential clients in the automotive sector."
Today, the company highlighted that its next-generation EV inverter, equipped with these advanced power modules, is already undergoing testing and demonstration programs with various potential customers and partners.
Hillcrest aims to strategically position itself to capture a slice of the global power module market, which the company highlighted as being worth US$2.7 billion in 2022 and is forecast to expand by more than 11% per year.
The company noted that it intends to design its new modules to operate independently of specific application controls, in order to enable near-seamless integration into a variety of applications – including EVs, aviation, to ‘grid-tied’ applications – without the need for significant re-qualification and modification.
It expects this approach can accelerate commercialisation.