VANCOUVER, BC / ACCESS Newswire / July 9, 2026 / Hillcrest Energy Technologies Ltd. (CSE:HEAT)(OTCQB:HLRTF)(FRA:7HI) ("Hillcrest" or the "Company") today announced that it has entered into a Letter of Intent ("LOI") with Equipmake plc ("Equipmake"), a UK-based developer and manufacturer of high-performance electric motors and inverters for e-mobility applications. The LOI establishes a framework for a joint development program under which the parties would work together to integrate Hillcrest's proprietary Zero Voltage Switching ("ZVS") inverter technology into a defined Equipmake powertrain product line.
An Established Platform, Proven Channels
Equipmake is an established developer and manufacturer of high-performance powertrain systems with a strong commercial track record, products deployed across automotive, commercial vehicle, bus, aerospace, and marine applications, and existing OEM relationships in the product area targeted by this collaboration. A successful ZVS integration, if validated through the joint development program, would be positioned to reach an established customer base through channels that Equipmake has already built and may be able to expand, reducing the time and friction of independent market entry.
The program would bring together Equipmake's deep domain expertise and platform knowledge with Hillcrest's ZVS technology and full-stack co-design capability across hardware, controls firmware, and thermal management - supported by development partner Systematec GmbH, which contributes over 25 years of combined HEV/EV powertrain development experience.
Hillcrest ZVS Technology: Independently Validated Performance
Hillcrest's ZVS technology has been independently validated through testing at the facilities of global automotive OEMs and Tier One suppliers. That testing confirmed 99.7% peak inverter efficiency and system-level efficiency gains of up to 6% at various low-power operating points.1 Separately, EMC chamber testing conducted at a certified external laboratory selected by a European automotive OEM confirmed that Hillcrest's ZVS traction inverter delivers substantially lower electromagnetic interference (EMI) than conventional inverters, with results suggesting meaningful system-level cost savings.2
Management Commentary
"Our ZVS traction technology has been independently validated at global automotive OEM and Tier One supplier facilities. The focus now is on accelerating the path to commercial deployment, and Equipmake is exactly the kind of partner that helps us do that. They bring a validated powertrain platform, established OEM relationships, and a commercial track record across multiple vehicle classes. If we can successfully validate ZVS integration within the defined product line through this program, we would be positioned to deploy through channels that Equipmake has already built - avoiding the time and friction of establishing that market access independently."