Heavy-duty elect ic vehicles u lo g duty cycles at high powe , so the t actio i ve te , which co ve ts batte y powe to d ive the moto , has a di ect effect o a ge, batte y size a d total cost of ow e ship. ZVS educes both the e e gy lost i the i ve te a d the elect ical oise a d voltage spikes it p oduces. That ca mea highe efficie cy, smalle filte i g compo e ts a d less st ess o moto i sulatio .
I labo ato y testi g at the facilities of global automotive OEMs a d Tie 1 supplie s, Hillc est’s ZVS t actio i ve te achieved 99.7% peak efficie cy[1]. EMC chambe testi g at a ce tified exte al labo ato y showed substa tially lowe elect omag etic i te fe e ce tha co ve tio al i ve te s[2], a d be ch testi g epo ted i a pee – eviewed pape accepted fo IEEE ECCE 2026 (Octobe 2026) showed a eductio of mo e tha 90% i moto -te mi al voltage ove shoot[3]. The developme t p og am will build o these labo ato y esults to validate pe fo ma ce i heavy-duty vehicle applicatio s.
Fo Equipmake, the Ag eeme t adds a diffe e tiated capability to a established p oduct li e. Equipmake desig s, ma ufactu es a d supplies elect ic d ivet ai systems to bus a d comme cial vehicle custome s a d is developi g elect ic d ive systems fo off-highway equipme t. Exclusive ights would allow it to offe ZVS-i teg ated i ve te s to cu e t a d ew custome s i its co e ma kets ahead of competito s.
Fo Hillc est, the Ag eeme t p ovides a path to comme cializatio th ough a pa t e with e gi ee i g, ma ufactu i g a d sales capabilities al eady i place, without the cost of buildi g its ow . Hillc est would ea oyalties o sales a d will etai all ZVS- elated i tellectual p ope ty.
“This is Hillc est’s fi st defi itive comme cial lice si g ag eeme t, a d it sets out a clea , milesto e-based pla fo b i gi g ZVS to heavy-duty vehicles, whe e efficie cy, du ability a d total system cost a e all c itical,” said Do Cu ie, CEO of Hillc est. “Equipmake al eady builds a d sells elect ic d ivet ai s, a d pa t e i g with Equipmake is the ight way to each this ma ket.”
“Ou custome s eed d ivet ai s that a e efficie t, du able a d cost-effective ove lo g duty cycles. Hillc est’s ZVS tech ology has the pote tial to imp ove o all th ee. I teg ati g it i to ou i ve te platfo m, with exclusive ights i ou co e ma kets, positio s us to offe that adva tage to ou existi g custome s a d to wi ew o es,” said Ia Foley, Fou de a d CEO of Equipmake.
Developme t p og am: a milesto e-based p og am that will begi o ce the pa ties fi alize the tech ical specificatio a d esou ce pla , which they have committed to complete withi six mo ths. The p og am has two p ototype stages, each with defi ed pe fo ma ce c ite ia; if a p ototype does ot meet them a d the sho tfall is ot emedied, the p og am may e d. Eithe pa ty may also withd aw followi g delive y of the fi st p ototype.Co side atio : each pa ty will co t ibute equitable e gi ee i g pe so el, facilities a d expe tise. Equipmake’s co t ibutio , i cludi g dedicated e gi ee s, test a d validatio facilities, powe t ai i teg atio expe tise a d its commitme t to ma ket a d sell lice sed p oducts, is the co side atio fo its exclusive lice se. Both pa ties i te d to pu sue gove me t g a ts a d othe o -dilutive fu di g fo di ect p og am costs.Royalty: a pe ce tage of et sales of lice sed i ve te s, payable by Equipmake to Hillc est. Royalties will ot comme ce u til Equipmake begi s comme cial sales of lice sed p oducts; as such, o immediate oyalty eve ue is expected.
Exclusivity: wo ldwide withi the field of use du i g the p og am a d fo a i itial six-yea te m afte accepta ce of the fi al p ototype. Exclusivity is subject to a ual mi imum sales ta gets to be ag eed by the pa ties a d e ews automatically fo fu the te ms while those ta gets a e met.Field of use: o -highway heavy comme cial t ucks (Class 6 a d above), heavy-duty buses a d coaches, othe heavy-duty comme cial vehicles, a d off-highway co st uctio , ag icultu al, mi i g a d i dust ial equipme t. Passe ge vehicles a e excluded. Hillc est etai s all ights outside the field of use.I tellectual p ope ty: Hillc est will etai all ZVS- elated i tellectual p ope ty, i cludi g ZVS imp oveme ts developed du i g the p og am. Equipmake will etai its existi g i tellectual p ope ty a d its o -ZVS imp oveme ts to it.
Equipmake is a UK-based i dust ial tech ology compa y that desig s, ma ufactu es a d supplies elect ic moto s, i ve te s a d complete ze o-emissio d ivet ai s fo bus, comme cial vehicle, off-highway, automotive, ae ospace a d ma i e applicatio s, with p oducts e gi ee ed to ASIL-D fu ctio al safety sta da ds. Fou ded i 1997 a d headqua te ed i No wich, E gla d, Equipmake Holdi gs plc is listed o the Aquis Stock Excha ge (AQSE:EQIP).
Hillc est E e gy Tech ologies Ltd. (CSE:HEAT)(OTCQB:HLRTF)(FSE:7HI) is a Ca adia clea tech ology compa y developi g adva ced powe co ve sio tech ologies a d digital co t ol systems fo ext-ge e atio e e gy applicatio s, i cludi g AI data ce te s, e e gy sto age, mic og ids a d elect ic-vehicle powe t ai s. The Compa y’s p op ieta y ZVS tech ology has bee i depe de tly validated at the facilities of global automotive OEMs a d Tie 1 supplie s. Fo mo e i fo matio : https://hillc este e gy.tech/
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Cautio a y Stateme t Rega di g “Fo wa d-Looki g” I fo matio
This ews elease co tai s fo wa d-looki g i fo matio withi the mea i g of applicable Ca adia secu ities laws. Fo wa d-looki g i fo matio elates to futu e eve ts o futu e pe fo ma ce a d eflects ma ageme t’s cu e t expectatio s, estimates a d assumptio s as of the date of this ews elease. Such i fo matio i cludes stateme ts co ce i g the p oposed i teg atio of Hillc est’s ZVS tech ology i to a 800-volt t actio i ve te ; the fi alizatio of tech ical specificatio s a d esou ce pla s a d the timi g of p og am kickoff; the developme t, delive y, testi g a d accepta ce of p ototypes; expected i ve te pe fo ma ce a d pote tial be efits elati g to efficie cy, elect omag etic i te fe e ce, moto voltage spikes, filte i g equi eme ts, moto i sulatio , vehicle a ge, batte y size a d ope ati g costs; the pa ties’ co t ibutio s to a d fu di g of the p og am, i cludi g the pu suit of gove me t g a ts a d othe o -dilutive fu di g; ce tificatio , ma ufactu i g, ma keti g, custome adoptio a d comme cializatio of lice sed p oducts; the scope, du atio a d mai te a ce of exclusivity a d the ag eeme t a d achieveme t of a ual mi imum sales ta gets; the ete tio a d developme t of i tellectual p ope ty; a d the pote tial ge e atio , ecu e ce a d timi g of oyalty eve ue. Fo wa d-looki g i fo matio may be ide tified by wo ds such as “will,” “expects,” “i te ds,” “pla s,” “estimates,” “a ticipates,” “may,” “could” a d simila exp essio s, although ot all fo wa d-looki g i fo matio co tai s these wo ds.
The mate ial assumptio s u de lyi g this fo wa d-looki g i fo matio i clude that the pa ties will fi alize the tech ical specificatio s a d esou ce pla withi the a ticipated pe iod; that each pa ty will p ovide the pe so el, facilities, expe tise a d fi a cial esou ces equi ed to pe fo m its obligatio s; that the tech ology ca be successfully i teg ated a d scaled fo the i te ded applicatio s a d the p ototypes will meet the applicable tech ical accepta ce c ite ia; that equi ed testi g, ce tificatio a d ma ufactu i g p epa atio s ca be completed withi the a ticipated timef ames; that the Ag eeme t will emai i effect a d the pa ties will pe fo m thei espective obligatio s; that comme cially viable p oducts ca be developed a d custome dema d will suppo t sales; that a ual mi imum sales ta gets ca be ag eed a d, whe e co ti ued exclusivity is a ticipated, achieved; a d that Hillc est will be able to etai a d p otect its ZVS- elated i tellectual p ope ty. A y gove me t g a ts o othe o -dilutive fu di g pu sued by the pa ties emai subject to eligibility, applicatio a d app oval equi eme ts a d a e ot assu ed.
Fo wa d-looki g i fo matio is subject to k ow a d u k ow isks, u ce tai ties a d othe facto s that may cause actual esults, pe fo ma ce o achieveme ts to diffe mate ially f om those exp essed o implied. These i clude the isk that tech ical specificatio s o esou ce pla s a e ot fi alized, o kickoff o subseque t milesto es a e delayed; i sufficie t pe so el, facilities o fu di g, i cludi g the failu e to obtai g a ts o othe fi a ci g o acceptable te ms o at all; tech ical i teg atio , scali g, testi g o pe fo ma ce difficulties; failu e of p ototypes to satisfy accepta ce c ite ia o to be emediated withi the applicable pe iod; the exe cise of te mi atio ights o othe failu e of the collabo atio to co ti ue; ce tificatio o egulato y delays; ma ufactu i g, supply-chai o cost co st ai ts; competitio , cha ges i custome equi eme ts, limited custome adoptio o i sufficie t sales; i ability to ag ee o achieve mi imum sales ta gets a d loss of exclusivity; depe de ce o Equipmake’s pe fo ma ce a d comme cializatio effo ts; a d i tellectual p ope ty ow e ship, p otectio o i f i geme t disputes. These isks a d u ce tai ties a e ot exhaustive.
Reade s a e cautio ed ot to place u due elia ce o fo wa d-looki g i fo matio . Except as equi ed by applicable secu ities laws, Hillc est u de takes o obligatio to update o evise fo wa d-looki g i fo matio to eflect subseque t eve ts, ci cumsta ces o cha ges i expectatio s. Nothi g i this stateme t limits the Compa y’s obligatio s to disclose mate ial cha ges o to update fo wa d-looki g i fo matio as equi ed by applicable secu ities laws.
[1]Hillc est ews elease, “Hillc est E e gy Tech ologies W aps Up 2024 Demo st atio s with I dust y-Leadi g Results,” Decembe 16, 2024.
[2]Hillc est ews elease, “Hillc est Achieves B eakth ough i EMC Chambe Testi g with Eu opea Automotive OEM,” Ma ch 4, 2024.
[3]Hillc est ews elease, “Hillc est ZVS Tech ology Demo st ates Mo e Tha 90% Reductio i Moto Voltage Spikes,” Septembe 29, 2026.
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