Hillcrest Energy Technologies Ltd (CSE:HEAT, OTCQB:HLRTF) told investors after successful technology launches and the securing of multiple commercial engagements in 2023 that the company’s focus for the new year is to further amplify its customer interactions and secure additional commercial commitments.

The company said that in its upcoming demonstration and advanced testing programs it will be using its next-generation EV inverter which leverages 350-kilowatt silicon carbide (SiC) technology and is designed for applications up to 1,000 volts.

The EV inverter, utilizing the company’s Zero Voltage Technology platform, demonstrated efficiency of up to 99.6% which results in cost savings per vehicle of up to US$2,200, according to Hillcrest.

“Our ability to eliminate switching losses has allowed us to achieve extremely smooth voltage transitions and virtually no overshoot or oscillation (ringing), and hence, very low electromagnetic interference (EMI),” Hillcrest chief technology officer Ari Berger said.

“Based on publicly available data, we believe these benefits exceed the performance of any other EV inverter currently on the market. In addition, the use of our ZVS-enabled power modules allows us to further optimize our inverter to provide even greater efficiency, reliability and power density."

The company highlighted that it has secured demonstrations and advanced testing opportunities with four automotive OEMs and a global Tier One supplier.

It will also complete an in-water demonstration with Hercules Electric Mobility’s e-boat with the support of Canadian grant resources.

Hillcrest said this testing and demonstration will run in parallel with the company’s previously announced, ongoing discussions with several groups regarding potential joint development agreements.

Hillcrest is a clean technology company focused on providing advanced power conversion technologies and digital control systems for next-generation powertrains and grid-connected renewable energy systems.