- Extreme Vehicle Battery Technologies (ACDC) has updated its developing arrangements with Squamish EcoVille and Hillcrest Petroleum (HRH)
- In November 2020, the company entered a definitive agreement with EcoVille, and signed an LOI for a joint venture with Hillcrest
- EV Battery Tech has now unveiled the SmartWall and TITAN products series which it will outfit the EcoVille development with
- The company has not yet pursued a definitive agreement with Hillcrest, due to an unfulfilled prerequisite condition
- Extreme Vehicle Battery Technologies is up 16.67 per cent, and is currently trading for $0.21 per share
Extreme Vehicle Battery Technologies (ACDC) has updated its developing arrangements with Squamish EcoVille and Hillcrest Petroleum (HRH).
On November 12, 2020, the company entered a definitive agreement with EcoVille. Through the agreement, EV Battery Tech secured the rights to be the exclusive provider of energy storage systems for EcoVille’s development in British Columbia.
Since then, the company has unveiled the IoniX Pro SmartWall series, as well as the IoniX Pro TITAN series. These are portfolios of energy storage system products for home, commercial office, industrial market, remote backup, and renewable energy market segments.
EV Battery Tech intends to outfit the buildings in the EcoVille development with both the SmartWall and TITAN series in the near future.
On November 18, 2020, EV Battery Tech signed a letter of intent, for the formation of a joint venture with TSXV-listed Hillcrest Petroleum (HRH). The two companies intended to pool their collective resources to develop and commercialise renewable energy management systems.
However, EV Battery Tech has not yet pursued a definitive agreement with Hillcrest to cement what was set out in the LOI. This is because Hillcrest has not yet announced completion of a definitive agreement with ANIGO Technologies, which is a prerequisite to any agreement with EV Battery Tech.
Hillcrest has announced a memorandum of intent with ANIGO Technologies, but no more than this thus far. EV Battery Tech is continuing to engage with Hillcrest, in hopes of eventually collaborating with them as originally planned.
Extreme Vehicle Battery Technologies is up 16.67 per cent and trading for $0.21 per share, as of 9:56am EST.
