HILLCREST TRACTION INVERTER UNDERPINS BROADER TECHNOLOGY PLATFORM WITH MULTIPLE END-USES AND APPLICATIONS

• High-efficiency inverter technology has the potential to revolutionize how electric motors respond and how efficiency is gained
• Adaptable architecture reduces development time for wide range of applications
• First technical whitepaper expected in upcoming weeks

VANCOUVER, BC, April 7, 2022 /PRNewswire/ - Hillcrest Energy Technologies (CSE: HEAT) (OTCQB: HLRTF) (FRA: 7HIA.F), a clean technology company developing transformative power conversion technologies and control system solutions for next-generation electrical systems, has announced plans to deploy a comprehensive inverter technology platform based on its initial product offering, a high-efficiency silicon carbide traction inverter for electric vehicles.

Hillcrest's traction inverter represents a new class of inverter technology that solves many common challenges faced by today's EV powertrains. Lighter, more compact and more efficient than current inverters, the Hillcrest high-efficiency inverter enables reduced overall vehicle weight, increased payload and range capability and reduced heat production/loss, thereby optimizing performance and reliability.

"We set out to be a market leader in developing and deploying next-generation energy solutions," said Ari Berger, Hillcrest CTO. "As technology-forward experts, we are uniquely positioned to execute to our vision and deliver high-efficiency inverter solutions that have the potential to revolutionize global electrification. We've already achieved inverter efficiencies exceeding 99% at switching frequencies up to 60 kHz – enabling further efficiency enhancements in the overall system, such as electric motors.  These accomplishments exceed any other inverter solutions we've seen on the market thus far. Moving forward, we will continue to strive for more ground breaking improvements as we develop additional applications."

In addition to electric vehicles and the mobility industry, the Hillcrest inverter technology platform can improve efficiency and reliability across a variety of end uses and applications where inverters play a key role, including grid-tied renewables, charging and storage systems, and high voltage/high power applications such as utility-scale grid, rail and container ships.

"Based on the addressable markets and our technology development timeline we initially optimized our inverter design for vehicle electrification and other e-mobility uses," stated Hillcrest CEO Don Currie. "Conversations with more than a dozen automakers and automotive suppliers have validated the value proposition for our inverter technology to meet not only current, but future EV needs."

"We also recognized the value our inverter offers in numerous other high-potential applications beyond vehicle electrification," Currie continued, "and are hard at work on the development of a grid-connected power generation application with a commercial prototype planned within the next 12 months."

The adaptable architecture inherent in Hillcrest's technology greatly reduces the time needed to design a wide range of applications and allows technical integration of the high-efficiency inverter into nearly any platform. Accordingly, Hillcrest engineers are simultaneously developing an enhanced electric powertrain and several additional inverter applications to be detailed as they mature.

Hillcrest inverter technology, through a combination of hardware and innovative control software expertise, enables power applications to leverage higher switching frequencies, realize improved power system performance and reliability, and operate at higher power levels without compromising efficiency.

Over the coming weeks, the Company expects to release its first technical whitepaper on the Hillcrest inverter technology. The first paper will include test results confirming the material elimination of switching losses and inverter efficiency exceeding 99%.

Hillcrest Energy Technologies is a clean technology company developing high value, high performance power conversion technologies and digital control systems for next-generation powertrains and grid-connected renewable energy systems. From concept to commercialization, Hillcrest is investing in the development of energy solutions that will power a more sustainable and electrified the future. Hillcrest is publicly traded on the CSE under the symbol "HEAT", on the OTCQB Venture Market as "HLRTF" and the Frankfurt Stock Exchange as "7HIA.F".

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. This forward-looking information is provided as of the date of this news release. The forward-looking information reflects our current expectations and assumptions and is subject to a number of known and unknown risks, uncertainties and other factors, which may cause actual results, performance, or achievements to be materially different from any anticipated future results, performance or expectations expressed or implied by the forward-looking information. No assurance can be given that these assumptions will prove correct. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control. Investors are advised to consider the risk factors under the heading "Risks and Uncertainties" in the Company's MD&A for the year ended December 31, 2020, available at www.sedar.com for a discussion of the factors that could cause the Company's actual results, performance and achievements to be materially different from any anticipated future results, performance, or achievements expressed or implied by the forward-looking information. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

SOURCE Hillcrest Energy Technologies Inc.

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