Hillcrest Energy Technologies announced that proof-of- concept testing is underway for its first ZVS grid-tied inverter. Hillcrest's proof of concept, an 800-volt (V), 10-kilowatt (kW) component, incorporates the Company's ZVS technology and is suitable for deployment into various grid-tied applications, including solar and wind generation, storage, vehicle-to-everything (V2X) and electric vehicle (EV) charging infrastructure. The Company anticipates that these opportunities will generate multiple, future revenue streams. The evolution of grid-tied energy systems demands high-frequency power electronics to enhance the smart, grid-forming capabilities of a more distributed, bidirectional system with diverse intermittent sources.

Hillcrest's ZVS technology is designed to provide new benefits to grid-connected energy systems by providing a more efficient and reliable method of deploying higher switching frequencies. The Company's technology will also deliver improved output power quality and control benefits not presently available in most electric power systems.