- Hillcrest Energy Technologies (HEAT) has signed a memorandum of understanding (MOU) with Hercules Electric Mobility, Inc. to collaborate on an electric powertrain system
- The project would be to build, test and a system that includes a Hillcrest 250-kilowatt, 800-volt inverter that has been optimized for Hercules’ electric powertrain
- the project will begin this month and is expected to run until March
- A definitive commercialization agreement will be signed if all project milestones are met
- Hillcrest Energy Technologies (HEAT) is up 8.00 per cent, trading at $0.13 per share as of 11:51 a.m. ET
Hillcrest Energy Technologies (HEAT) has signed a memorandum of understanding (MOU) with Hercules Electric Mobility to collaborate on an electric powertrain system.
The project would be to build, test and a system that includes a Hillcrest 250-kilowatt, 800-volt inverter that has been optimized for Hercules’ electric powertrain. Hillcrest’s technology is designed to be smaller, lighter, and more powerful than competitor inverters.
Hillcrest CEO Don Currie commented,
“This approach allows us both to adapt to customer needs, integrate the latest technologies into our products, and improve speed to market… we’re proud to join forces with [Hercules] on our first development MOU.”
Hillcrest stated the project will begin this month and is expected to run until March, with potential applications including marine, automotive, and other electric mobility products.
Hercules CEO, James Breyer, added,
“We look forward to evaluating the efficiency and performance gains we expect to see in combining Hillcrest’s next-gen inverter technology with our Powered by Hercules technology platform.”
Hillcrest and Hercules expect to sign a definitive commercialization agreement if all agreed-upon milestones are met.
Hillcrest Energy Technologies (HEAT) is up 8.00 per cent, trading at $0.13 per share as of 11:51 a.m. ET.