Hillcrest launches CleanPath Distribution

Executive Summary

• Hillcrest Energy Technologies Ltd. has operationalized CleanPath Distribution Inc., an indigenous-led Canadian corporation designed to pursue financing opportunities and support the commercialization of Hillcrest's zero-voltage-switching (ZVS) power conversion technology in Canada.
• CleanPath is structured with majority ownership by Pasqua First Nation #79 (51%), with Apeiron Resources (24.5%) and Hillcrest Energy Technologies Operating Ltd. (24.5%) holding the remaining shares.
• The entity aims to leverage its indigenous-led structure to access government funding programs and build relationships within the Canadian market, specifically targeting the defence sector under recent government strategies.

Key Details

• Entity Formation: CleanPath Distribution Inc. was operationalized in March 2026, with directors appointed and shares issued on March 5, 2026.
• Ownership Structure:
  • Pasqua First Nation #79: 51%
  • Apeiron Resources: 24.5%
  • Hillcrest Energy Technologies Operating Ltd.: 24.5%
• Governance: The entity is governed by a board of directors with representation from all three partners.
• Intellectual Property: Hillcrest retains full ownership of all ZVS intellectual property and remains responsible for technology development, manufacturing execution, and product certification.
• Technology Context: Hillcrest's ZVS technology reduces switching losses, resulting in higher efficiency, lower electromagnetic interference (EMI), and smaller/lighter passive components. Performance has been measured at European automotive OEM and Tier 1 supplier test benches.
• Product Development & Timeline:
  • PCS1000: A 200-kilowatt grid-connected power conversion system prototype targeting customer demonstration in the second quarter of 2026.
  • MVP3: A 350-kilovolt-ampere silicon carbide traction inverter prototype, validated with multiple automotive OEMs and Tier 1 suppliers in Europe.
• Strategic Focus: CleanPath targets the Canadian defence sector, leveraging the NRC IRAP Defence Industry Assist initiative and Canada's defence industrial strategy to facilitate SME participation in defence R&D.

Notable Quotes

• "CleanPath brings together Pasqua First Nation #79's indigenous leadership, industry relationships and market knowledge, Apeiron's expertise in indigenous economic development, and Hillcrest's ZVS technology." — Don Currie, CEO
• "Canada's recently announced defence industrial strategy and the NRC IRAP Defence Industry Assist initiative establish a policy framework for Canadian SME participation in defence R&D. CleanPath's indigenous-led structure and Hillcrest's Canadian-owned ZVS technology are relevant to that framework, and the Canadian defence sector is a target market for CleanPath's mandate." — Don Currie, CEO