Hillcrest Energy Technologies Ltd (CSE:HEAT, OTCQB:HLRTF) has said the company remains on schedule to deliver commercial prototypes of its novel Zero Voltage Switching electric vehicle (EV) inverter to customers by the fourth quarter.
In a shareholder update, the company said it is on track with critical three-phase commissioning and testing activities for the inverter.
Hillcrest said it had faced and resolved issues typical with developing new technologies such as its inverter technology, among these high-frequency ringing in the power modules – a challenge often faced when operating an inverter at high power levels.
READ: Hillcrest Energy Technologies demonstrates efficiencies of its traction inverter
Ringing causes electromagnetic interference (EMI), which is unwanted noise or interference that could adversely affect the performance of a whole range of vehicle components and systems, according to Hillcrest.
Hillcrest chief technology officer Ari Berger said it is important to ensure safe operation at the lowest possible EMI.
“Being able to achieve lower EMI may result in a need for smaller EMI filters, which then translates into reduced overall weight and cost as well as safer, more reliable performance of important onboard components and subsystems in the electric vehicle,” Berger added.
The company said discussions are continuing between Hillcrest and more than a dozen potential customers, including multiple global tier-1 automotive suppliers and OEMs for its EV technology.
Hillcrest CEO Don Currie said based on these ongoing conversations, the company believes its business model aligns perfectly with what the industry is looking for.
“Our intent is for Hillcrest to retain ownership of our core IP and technologies and to have the ability to enter into several transactions for each of our technologies, thereby creating multiple revenue streams,” he said.
“This would also ensure we have the opportunity to deploy our technology with multiple customer partners across various sectors and end uses, de-risking our future revenue streams through sector diversification.”
The full shareholder update can be found here.
Hillcrest Energy Technologies is a clean energy company developing high-value, high-performance power conversion technologies and digital control systems for next-generation powertrains and grid-connected renewable energy systems.
Contact the author Emily Jarvie at emily.jarvie@proactiveinvestors.com
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