Hillcrest enters AI datacenter ecosystem

Hillcrest Enters AI Datacenter Ecosystem

Agreement With AI Hub of Innovation Delivers BESS Pilot and Access to AHI's Datacenter Tenant Network

VANCOUVER, BC / ACCESS Newswire / July 22, 2026 / Hillcrest Energy Technologies Ltd. (CSE:HEAT)(OTCQB:HLRTF)(FRA:7HI) ("Hillcrest" or the "Company") today announced a non-binding agreement in principle with the AI Hub of Innovation ("AHI"), a project of Agritech Haven Limited Partnership.

The agreement dated July 20, 2026, advances Hillcrest's PCS1000 on two fronts: an operational BESS pilot at AHI's Alberta campus, and access to AHI's network of datacenter tenants, operators, and technology vendors to evaluate the PCS1000 for 800V DC sidecar power conversion.

Canada's AI datacenter and energy storage infrastructure relies heavily on power conversion technology sourced from outside the country, consistent with Natural Resources Canada's assessment that Canada's electricity sector is highly import-dependent for critical components, with the domestic share of supply declining from 58% (2018) to 52% (2023).[i] The PCS1000 - built on Hillcrest's proprietary Zero Voltage Switching (ZVS) topology - is designed to change that. Because the IP is entirely Canadian-developed and Canadian-owned, the technology and its economic returns remain in Canada - an industrial sovereignty advantage that imported solutions cannot offer.

The agreement has two deliverables. The BESS pilot provides a real operational environment to validate PCS1000 round-trip efficiency and BMS integration - a key step toward product certification. The datacenter network access puts the PCS1000 in front of the operators and integrators building Canada's AI infrastructure, opening a commercial pathway that would otherwise take much longer to develop independently.

AHI will provide facility access for the BESS pilot and facilitate introductions to its datacenter tenant network, offering the PCS1000 where commercially aligned. AHI's participation - including facility access and the allocation of engineering and campus resources - is subject to execution of a definitive joint development agreement and confirmation of program funding. CleanPath Distribution Inc. ("CleanPath") - Hillcrest's Indigenous-led commercialization channel, majority-owned by Pasqua First Nation #79 - is a named party to the agreement, reflecting both companies' commitment to directing the economic benefits of Canadian energy technology to Canadian and Indigenous communities.

Don Currie, Founder, Director and CEO of Hillcrest, stated:

"Canada is building AI infrastructure at scale, and the power conversion technology at its core should be Canadian owned. The BESS pilot gives us the real-world testing environment our development program requires. AHI's datacenter network puts us in front of the operators building that infrastructure. Together, these advance Canadian-developed technology into Canadian industrial capacity."

Sunny Sarpal, Founder & CEO, AI Hub of Innovation (a project of Agritech Haven Limited Partnership), stated:

"AHI evaluates infrastructure technology across every layer of AI compute - power, cooling, compute, and networking. The Hillcrest ZVS PCS1000 warrants real-world testing, and we're pleased to provide the site and ecosystem connections to do that. The BESS pilot is the first step; introductions to our datacenter tenants and integration partners are what take it to scale."

The Case for Canadian Power Conversion

Power conversion sits at the core of energy storage and AI datacenter infrastructure and determines how efficiently, reliably, and securely that infrastructure operates. Next-generation AI datacenters are shifting to 800V DC power architectures, an architecture formalized by the Open Compute Project (OCP).[ii] These architectures require a dedicated "sidecar" power rack to handle AC-to-800V DC conversion, a design that reduces losses, simplifies thermal management, and improves rack-level power density.

The ZVS PCS1000 is the AC-to-800V DC conversion module for this sidecar architecture. It uses Hillcrest's proprietary Zero Voltage Switching topology and targets greater than 99% peak conversion efficiency, versus the 97% to 98% typical of conventional hard-switching systems. The IP is entirely Canadian-developed and Canadian-owned. These are design targets under active development; the PCS1000 is at the A-Sample stage and has not been validated in commercial deployment.

Agreement in Principle: Two Deliverables

BESS Pilot - Real-Environment Testing

The PCS1000 will be integrated with a confirmed BESS platform (130 kW / 250 kWh / 800V nominal LFP) and deployed at AHI's Alberta campus, with deployment targeted for 2028 following bench validation under Hillcrest's parallel development program. Testing objectives include PCS1000 round-trip efficiency, system reliability, and BMS integration in a live environment. This advances the PCS1000 from prototype toward the certification-ready stage required for commercial contracts.

Datacenter Ecosystem Access

AHI will facilitate introductions to its datacenter tenants, operators, and technology vendors for evaluation of the PCS1000 as an 800V sidecar power conversion module. AHI will offer the PCS1000 where commercially aligned.

CleanPath Distribution Inc.

CleanPath Distribution Inc. is Hillcrest's Indigenous-led commercialization channel, operationalized in March 2026. CleanPath is 75.5% Indigenous-owned: Pasqua First Nation #79 holds 51%, Apeiron Resources Ltd. - an Alberta-based Indigenous business - holds 24.5%, and Hillcrest Energy Technologies Operating Ltd. holds the remaining 24.5%. Pasqua First Nation #79's majority ownership means the Nation's economic returns scale directly with the commercial success of the ZVS platform - aligning Indigenous benefit with long-term technology performance. Both Hillcrest and AHI share a commitment to ensuring Canada's AI infrastructure buildout creates lasting economic participation for Indigenous communities.

About ZVS PCS1000

The Hillcrest ZVS PCS1000 is a Canadian-developed and Canadian-owned, configurable bidirectional power conversion platform, currently at the A-Sample prototype stage, built on the Company's proprietary Zero Voltage Switching topology. The same underlying platform can be customized and deployed across numerous applications - including energy storage, microgrids, and AI datacenter sidecars - targeting up to 250 kW at 480V AC input with a DC operating range of 600-950V. The PCS1000 is currently in the A-Sample prototype stage.

About AHI - the AI Hub of Innovation (a project of AHLP)

The AI Hub of Innovation (AHI) is the sovereign-AI infrastructure project of Agritech Haven Limited Partnership (AHLP) - a purpose-built, hydrogen-ready AI compute and data infrastructure campus under construction in Alberta. AHI is designed to scale from an initial 10 MW deployment to 30 MW in Phase 1, with a phased build-out to 250+ MW of on-site prime power and a pathway to 1 GW of AI compute capacity by 2035. AHI works with Indigenous, industrial, and technology partners - including Pasqua First Nation #79, and CleanPath Distribution Inc. For more information: www.ahicampus.com.

About Hillcrest Energy Technologies

Hillcrest Energy Technologies Ltd. is a Canadian clean technology company developing advanced power conversion technologies and digital control systems for next-generation energy applications, including AI datacenters, energy storage, microgrids, and electric-vehicle powertrains. The PCS1000 - Hillcrest's newest product platform - is Canadian-developed and Canadian-owned, currently in the A-Sample prototype stage. For more information: https://hillcrestenergy.tech/.

CONTACT INFORMATION

Investor Relations
Don Currie
info@hillcrestenergy.tech
O: +1 604-609-0006
Toll-free: 1-855-609-0006

Public Relations
Jamie L. Hogue
jhogue@hillcrestenergy.tech
O: +1 602-793-9481

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FORWARD-LOOKING INFORMATION

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, 2025, available at https://www.sedarplus.ca/ 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.

[i] Natural Resources Canada, "Powering Canada Strong: A National Strategy for an Electrified Canadian Economy" (2026) - Canada's electricity sector is highly import-dependent, particularly on the U.S., for critical components; domestic production share of these components declined from 58% (2018) to 52% (2023).

SOURCE: Hillcrest Energy Technologies Ltd.

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