Hillcrest Energy Technologies Announces Launch of CleanPath Distribution Inc

Executive Summary

• Hillcrest Energy Technologies announced the operationalization of CleanPath Distribution Inc., an Indigenous‑led Canadian corporation created to pursue funding and commercialize Hillcrest’s Zero Voltage Switching (ZVS) power conversion technology in Canada.
• Ownership of CleanPath is 51% Pasqua First Nation #79, 24.5% Apeiron Resources Ltd., and 24.5% Hillcrest Energy Technologies Operating Ltd.; directors were appointed and shares issued on March 5 2026.
• CleanPath will target government funding programs and the Canadian defence sector, leveraging ZVS technology prototypes (PCS1000 Grid Power Conversion System – 200 kW; MVP3 ZVS Traction Inverter – 350 kVA) slated for demonstration in Q2 2026.

Key Details

• Entity Formation: CleanPath Distribution Inc. was operationalized in March 2026 under the Memorandum of Understanding signed on October 14 2025 between Hillcrest, Pasqua First Nation #79 (PFN), and Apeiron Resources Ltd.
• Ownership Structure:
• Pasqua First Nation #79 – 51%
• Apeiron Resources Ltd. – 24.5%
• Hillcrest Energy Technologies Operating Ltd. – 24.5%
• Governance: Board of Directors includes representatives from all three partners; directors appointed and shares issued on March 5 2026.
• Strategic Purpose:
• Pursue Canadian government funding opportunities (including Defence Industrial Strategy and NRC IRAP Defence Industry Assist initiative).
• Support commercialization of Hillcrest’s ZVS technology in the Canadian market, with a focus on defence sector applications.
• Technology Highlights:
• ZVS reduces switching losses, improves efficiency, lowers EMI, and enables smaller, lighter passive components.
• Two prototypes under development:
  • PCS1000 Grid Power Conversion System – 200 kW grid‑connected system; customer demonstration targeted for Q2 2026.
  • MVP3 ZVS Traction Inverter – 350 kVA SiC traction inverter validated with multiple European automotive OEMs and Tier‑1 suppliers.
• Management Comment: Don Currie, CEO & Director of Hillcrest Energy Technologies Ltd., emphasized the synergy of Indigenous leadership, Apeiron’s economic development expertise, and Hillcrest’s ZVS technology in accessing funding and targeting the Canadian defence market.

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 & Director, Hillcrest Energy Technologies Ltd.

“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.” – Don Currie, CEO & Director, Hillcrest Energy Technologies Ltd.