Announcement • May 28
Hillcrest Energy Technologies Ltd. announced that it expects to receive CAD 1.2 million in funding Hillcrest Energy Technologies Ltd. announces a non-brokered private placement to issue 8,000,000 units of the Company at an issue price of CAD 0.15 per Unit, for gross proceeds of up to CAD 1,200,000 on May 27, 2026. Each Unit will consist of one common share in the capital of the Company and one Share purchase warrant. Each Warrant will entitle the holder to purchase an additional Share at a price of CAD 0.20 per Warrant Share for a period of 24 months following the date of issuance of the Warrant. The securities issued pursuant to the Offering are subject to a statutory hold period of four (4) months plus a day from the date of issuance in accordance with applicable securities legislation. Closing of the Offering and the issuance of the Shares are subject to a number of conditions, including receipt of all necessary regulatory and corporate approvals, including approval from the Exchange. Announcement • Apr 24
Hillcrest Energy Technologies Finalizes A-Sample Design of Zvs Pcs1000 Sidecar Power Unit for Next-Generation Ai Data Centers Hillcrest Energy Technologies Ltd. has finalized the A-Sample design of its ZVS PCS1000 Grid Power Conversion System, a purpose-built 250 kW, 800V DC sidecar rectifier module developed for next-generation AI data center infrastructure. The A-Sample design finalization is a key engineering milestone, confirming the product architecture, form factor, and performance specifications ahead of the prototype demonstration program planned to begin in June 2026. The ZVS PCS1000 A-Sample has been designed in a 19", 4 rack unit (4RU) form factor supporting both liquid cooling and forced air, targeting 250 kW maximum continuous power output at 800V DC, with a modular architecture supporting scalability from 200 kW to 1,200 kW or greater through parallel units. The design incorporates N+1 redundancy with 25% extra capacity and hot-swap capability intended to support 24/7 operational availability in mission-critical AI compute environments. The ZVS PCS1000 is designed to align with the Open Compute Project (OCP) 800V data center sidecar power architecture, converting 400/480V AC grid power to 800V DC for direct distribution to IT racks at up to 1,500A. The OCP sidecar power architecture is defined in the Mt. Diablo specification, published by the Open Compute Project Foundation in October 2025. The ZVS PCS1000 incorporates grid fault ride-through (FRT) capability, enabling the power conversion system to remain electrically connected during short-duration voltage and frequency disturbances. Without FRT, such grid events can lead to cascading load disconnections and subsequent system instability. By integrating FRT, the ZVS PCS1000 helps stabilize grid behavior by maintaining electrical coupling and ensuring smooth power transitions during transient conditions. The ZVS PCS1000 A-Sample design targets 200–250 kW in a 19" form factor, which the Company believes provides a high-power density solution with the potential to reduce the total number of modules required per sidecar deployment and lower overall system cost. The PCS1000’s performance targets are based on Hillcrest’s proprietary Zero Voltage Switching (ZVS) topology, which the Company believes offers the following design advantages versus conventional hard-switched converters: Hillcrest’s ZVS topology eliminates switching losses by ensuring power transistors transition at zero voltage. The ZVS PCS1000 A-Sample design targets peak conversion efficiency exceeding 99% — compared to the 98% typical of hard-switched designs. Hillcrest’s ZVS technology has been independently validated through testing completed at facilities of global automotive OEMs and suppliers. Those tests confirmed 99.7% peak inverter stage efficiency, with greater than 99% efficiency maintained across 90% of the full operating range — results first publicly disclosed in the Company’s December 16, 2024, news release. The PCS1000 is built on the same underlying ZVS platform validated in those tests. Hillcrest’s ZVS technology produces significantly lower dV/dt than hard-switched designs, as first publicly disclosed in the Company’s March 4, 2024, news release. Certified lab radiated EMI testing of the ZVS switching stage, conducted without any EMI filter in place, showed radiated emissions below applicable pass limits. These results demonstrate the intrinsic EMI advantage of the ZVS topology and are expected to reduce filter complexity and cost in the ZVS PCS1000 A-Sample design. Lower switching losses are expected to reduce junction temperatures and thermal cycling in power semiconductors, supporting simplified cooling architecture and reduced thermal stress on power semiconductor components. The ZVS PCS1000 design operates at 48 kHz — approximately four times the practical ceiling of thermally-limited hard-switched designs — which is expected to reduce passive component size by up to 50% and contribute to its power density in the 19” form factor. The ZVS PCS1000 prototype remains on track, with customer and partner demonstrations being scheduled starting in June 2026 at Hillcrest’s facility in Vancouver, British Columbia and at Systematec GmbH’s facility in Germany. The Company is currently in active discussions with several parties across the data center, energy storage, and grid-connected applications markets regarding demonstration opportunities. There is no assurance that these discussions will result in commercial agreements. Recent Insider Transactions Derivative • Apr 08
Founder exercised options to buy CA$122k worth of stock. On the 1st of April, Donald Currie exercised options to buy 840k shares at a strike price of around CA$0.15, costing a total of CA$126k. This transaction amounted to 31% of their direct individual holding at the time of the trade. Since June 2025, Donald's direct individual holding has increased from 2.12m shares to 2.70m. Company insiders have collectively bought CA$459k more than they sold, via options and on-market transactions, in the last 12 months. 
