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Hillcrest, Equipmake Sign ZVS Inverter Licensing Agreement

HLRTF
  • Hillcrest Energy Technologies Ltd. signed its first definitive commercial licensing agreement with UK-based Equipmake Limited to jointly develop an 800-volt traction inverter using Hillcrest's Zero Voltage Switching (ZVS) technology.
  • The collaboration targets heavy-duty trucks, buses, & off-highway equipment, with Equipmake receiving exclusive rights to manufacture & sell the inverter in these markets upon meeting acceptance criteria.
  • Equipmake will pay Hillcrest a royalty on net sales of the licensed inverters, though revenue will not commence until commercial sales begin.
  • Laboratory testing previously achieved 99.7% peak efficiency for Hillcrest's ZVS inverter, with EMC testing showing substantially lower electromagnetic interference & bench tests reporting a >90% reduction in motor-terminal voltage overshoot.
  • The development program is milestone-based, requiring finalization of technical specifications & a resource plan within six months, followed by two prototype stages with defined performance criteria.
  • Both parties will contribute equitable engineering personnel, facilities, & expertise, while intending to pursue government grants & non-dilutive funding for direct program costs.
  • Exclusivity is granted worldwide within the specific field of use for an initial six-year term after final prototype acceptance, subject to annual minimum sales targets that allow for automatic renewal.
  • Hillcrest retains all ZVS-related intellectual property, including improvements developed during the program, while Equipmake retains its existing IP & non-ZVS improvements.
  • The field of use covers on-highway heavy commercial trucks (Class 6+), heavy-duty buses, & off-highway equipment, excluding passenger vehicles.
  • Either party may withdraw from the agreement following the delivery of the first prototype or if prototype shortfalls are not remedied.
Company
Hillcrest Energy Technologies Ltd.
Keywords
Computers, Technology & Internet, Product Announcements