Commodities

Hillcrest Commences Manufacturing of ZVS-enabled Power Modules and Provides Additional Shareholder Updates

Published

2 years ago

June 22, 2023

Manufacture of first ZVS-enabled power module underwayZVS-enabled power modules to be integrated into Hillcrest SiC traction inverterDynamic load demonstration testing underway with Global Tier One Automotive Supplier’s motor subsystemVANCOUVER, BC, June 22, 2023 /PRNewswire/ – Hillcrest Energy Technologies HEAT HLRTF 7HIA (“Hillcrest” or the “Company”), an innovative clean technology company revolutionizing power conversion technologies and advanced control system solutions, is pleased to provide shareholders an update on recent activities.

Manufacture of Hillcrest ZVS-enabled Power ModulesWith the design phase now complete, the Company is now manufacturing the EV industry’s first silicon carbide (SiC) power module prototype optimized for Hillcrest’s proprietary Zero Voltage Switching (ZVS) technology. Manufacturing is taking place at the facilities of the Company’s strategic partner, Systematec GmbH, in Germany.The integration of the Company’s ZVS-enabled power module into the Hillcrest SiC traction inverter will create the world’s first ZVS-optimized SiC traction inverter.Hillcrest Chief Technology Officer, Ari Berger, commented, “We’ve already demonstrated industry-leading results with our current ZVS-enabled SiC traction inverter. Integrating these new power modules into our inverter allows us to maximize the benefits of our ZVS technology. We are now able to deploy further improvements in switching control and operation at higher switching frequencies to achieve even more impressive levels of power density, system efficiency and further reductions in electromagnetic interference (EMI) behaviour for applications up to 1,000 volts.”Hillcrest Chief Commercialization Officer, James Bolen, added, “The EV industry is shifting toward the use of power modules and away from the use of discrete power solutions because they are complicated, have significant power limitations and take up valuable space. The Hillcrest ZVS-enabled power module addresses this trend and offers all the advantages of our ZVS technology coupled with the significant improvements in size, reliability, design capabilities and reduced time to market.”Power modules are a critical component in all high energy-density power conversion equipment, such as automotive traction inverters. They consist of a substrate containing power semiconductor devices (silicon carbide dies), connected to form a circuit that provides excellent electrical and thermal contact and insulation. Hillcrest’s ZVS power module prototypes are being developed in collaboration with the Company’s strategic partner, Systematec GmbH, with Hillcrest retaining all intellectual property.The Hillcrest SiC traction inverter harnesses the power of the Company’s proprietary ZVS technology platform. Extensive lab tests and simulations have showcased substantial improvements in system-level efficiency, performance, and reliability for electric systems such as electric vehicles and stationary energy generation and energy storage systems.Demonstration Testing with Global Tier One Automotive SupplierDynamic load demonstration testing with a specialized motor provided by a Global Tier One Automotive Supplier is underway at Hillcrest’s R&D lab in Vancouver. Completion of the tests and the Global Supplier’s acceptance of the results are expected next month and will conclude milestone two of the Company’s previously announced joint development project. Work then starts on the next milestone which includes a series of on-site demonstrations at the customer’s facilities. Upon successful completion of all milestones, Hillcrest and the Global Tier One Automotive Supplier anticipate entering into a definitive commercial agreement.CEO Don Currie Participates in Interview to Discuss Achievements and 2023 OutlookHillcrest CEO, Don Currie sat down to discuss recent Company achievements and the opportunities on the horizon for 2023. Topics included the Company’s core technologies centered around the proprietary implementation of Zero Voltage Switching (ZVS), milestones and the path to commercialization, and additional applications for the Hillcrest ZVS technology beyond electric vehicles. Access the full interview at this link.About Hillcrest Energy TechnologiesHillcrest Energy Technologies is a clean technology company delivering high-value, high-performance power conversion technologies and digital control systems for next-generation powertrains and grid-connected renewable energy systems. From concept to commercialization, Hillcrest is investing in the development of energy solutions that will power a more sustainable and electrified future. Hillcrest is publicly traded on the CSE under the symbol “HEAT,” on the OTCQB Venture Market as “HLRTF” and on the Frankfurt Exchange as “7HIA.F”. For more information, please visit: https://hillcrestenergy.tech/.NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.Cautionary Statement Regarding “Forward-Looking” Information Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects,” “intends,” “is expected,” “potential,” “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may,” “could,” “should,” “would,” “might” or “will” be taken, occur or be achieved. This forward-looking information is provided as of the date of this news release. The forward-looking information reflects our current expectations and assumptions and is subject to a number of known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to be materially different from any anticipated future results, performance or expectations expressed or implied by the forward-looking information. No assurance can be given that these assumptions will prove correct. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Investors are advised to consider the risk factors under the heading “Risks and Uncertainties” in the Company’s MD&A for the year ended Dec. 31, 2022, available at www.sedar.com for a discussion of the factors that could cause the Company’s actual results, performance and achievements to be materially different from any anticipated future results, performance or achievements expressed or implied by the forward-looking information. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

View original content to download multimedia:https://www.prnewswire.com/news-releases/hillcrest-commences-manufacturing-of-zvs-enabled-power-modules-and-provides-additional-shareholder-updates-301857513.htmlSOURCE Hillcrest Energy Technologies Ltd.

Commodities

Oil prices steady; traders digest mixed US inventories, weak China data

Published

16 hours ago

January 9, 2025

Investing.com– Oil prices steadied Thursday as traders digested data showing an unexpected increase in US product inventories, while weak economic data from top importer China weighed.

At 05:25 ET (10:25 GMT), expiring in March gained 0.1% to $76.25 a barrel, while rose 0.1% to $73.37 a barrel.

The crude benchmarks had slumped more than 1% on Wednesday, but trading ranges, and volumes, are likely to be limited throughout Thursday with the US market closed to honor former President Jimmy Carter, ahead of a state funeral later in the session.

China inflation muted in December

Chinese inflation, as measured by the , remained unchanged in December, while the shrank for a 27th consecutive month, data showed on Thursday.

The reading pointed to limited improvement in China’s prolonged disinflationary trend, even as the government doled out its most aggressive round of stimulus measures yet through late-2024.

China is the world’s biggest oil importer, and has been a key source of anxiety for crude markets. Traders fear that weak economic growth in the country will eat into oil demand.

The country is also facing potential economic headwinds from the incoming Donald Trump administration in the US, as Trump has vowed to impose steep trade tariffs on Beijing.

US oil product inventories rise sharply

U.S. gasoline and distillate inventories grew substantially more than expected in the week to January 3, government data showed on Wednesday.

inventories grew 6.3 million barrels against expectations of 0.5 mb, while grew 6.1 mb on expectations of 0.5 mb.

Overall crude also shrank less than expected, at 0.96 mb, against expectations of 1.8 mb.

The build in product inventories marked an eighth straight week of outsized product builds, and spurred concerns that demand in the world’s biggest fuel consumer was cooling.

While cold weather in the country spurred some demand for heating, it also disrupted holiday travel in several areas.

EIA data also showed that US imports from Canada rose last week to the highest on record, ahead of incoming U.S. president Donald Trump’s plans to levy a 25% tariff on Canadian imports.

Canada has been the top source of U.S. oil imports for many years, and supplied more than half of the total U.S. crude imports in 2023.

Strength in the also weighed on crude prices, as the greenback shot back up to more than two-year highs on hawkish signals from the Federal Reserve.

A strong dollar pressures oil demand by making crude more expensive for international buyers.

(Ambar Warrick contributed to this article.)

Commodities

Trump’s possible tariffs could put downward pressure on oil prices – RBC

Published

16 hours ago

January 9, 2025

Investing.com – President-elect Donald Trump’s plan to implement sweeping import tariffs during his second term in the White House is potentially the “most bearish” policy development for the energy sector this year, according to analysts at RBC Capital Markets.

Trump, who is set to come to power in less than two weeks, has vowed to impose tariffs of as much as 10% on global imports into the US and 60% on items coming from China. He has also pledged to slap a 25% surcharge on products from Canada and Mexico.

Economists have flagged that the proposal would not only rattle global trade activity, but also threaten to reignite inflationary pressures and spark possible retaliation.

The uncertainty in markets was heightened on Wednesday after CNN reported that Trump is mulling declaring a national economic emergency in order to provide the legal underpinning for the tariffs. Earlier this week, Trump also denied a separate report that his team was mulling scaling back the levies to cover only critical goods.

In a note to clients on Thursday, analysts at RBC led by Helima Croft said that while the ultimate scope of the tariffs remains unclear, the headline duties on China could soften demand in the country and place downward pressure on oil prices. China is the world’s largest crude importer.

Business leaders with significant ties to China may advise Trump to stay away from instituting strict tariffs on the country, Croft predicted.

“We have also heard a view in Washington that President Trump could be amenable to a deal with China if Beijing offered to make large headline purchases of US goods, such as aircraft or even US [liquefied natural gas] imports,” Croft wrote.

“Beijing could also potentially seek to trade a reduction in Iranian crude imports for a tariff reprieve.”

However, Croft flagged that the overall market effect of the tariffs is still “challenging to forecast” because the Trump administration — unlike a prior round of trade tensions in 2018 — will have to weight the impact of the policies with broader macroeconomic worries “still front of mind for many in Washington”.

(Reuters contributed reporting.)

Commodities

Gold prices edge higher; demand boosted by Trump-inspired uncertainty

Published

16 hours ago

January 9, 2025

Investing.com– Gold prices edged higher Thursday, continuing the recent gains, as heightened uncertainty over a hawkish Federal Reserve and President-elect Donald Trump’s plan for trade tariffs fueled some safe haven demand.

At 06:15 ET (11:15 GMT), {68|Spot gold}} rose 0.4% to $2,683.84 an ounce, while expiring in February rose 0.3% to $2,668.60 an ounce.

Trading activity is likely to be limited Thursday, with US traders on holiday to honor former President Jimmy Carter, with a state funeral due later in the session.

Safe haven demand on economic uncertainty

Bullion prices benefited from some safe haven demand this week, as uncertainty over Trump’s trade and immigration policies dented risk appetite.

A CNN report said Trump could declare a national economic emergency to legally justify his plans to impose universal trade tariffs.

Concerns over Trump’s policies also came into focus after the of the Fed’s December meeting showed policymakers expressing some concerns over sticky inflation.

Specifically, Fed officials were growing concerned that Trump’s expansionary and protectionist policies could underpin inflation in the long term.

The minutes also largely reiterated the Fed’s plans to cut interest rates at a slower pace in 2025, after the central bank effectively halved its projected rate cuts to two from four in 2025.

Treasury yields shot up after the Fed’s minutes, as did the dollar.

Higher for longer rates bode poorly for non-yielding assets such as metals, given that they increase the opportunity cost of investing in the sector.

Other precious metals were edged higher Thursday. fell 0.1% to $983.85 an ounce, while rose 0.8% to $30.930 an ounce.

Copper rises as weak China inflation fuels stimulus hopes

Benchmark on the London Metal Exchange rose 0.7% to $9,093.0 a ton, while March rose 1.2% to $4.3115 a pound.

Chinese were flat in December, while shrank for a 27th consecutive month, indicating little improvement in disinflation.

Inflation remained weak even as Beijing doled out its most aggressive round of stimulus measures through late-2024.

But Thursday’s inflation data fueled increased bets that Beijing will do more to shore up Chinese growth, especially on the fiscal front.

(Ambar Warrick contributed to this article.)

Among industrial metals, copper prices firmed as weak inflation data from top importer China spurred bets on more stimulus measures from Beijing.

But metal markets remained under pressure from strength in the dollar, which came back in sight of over two-year highs on hawkish signals from the Fed.