Hillcrest Energy Technologies (HEAT ) has signed its first definitive commercial licensing agreement.
Under a technology collaboration agreement with UK drivetrain manufacturer, the companies will jointly develop an 800-volt traction inverter using Hillcrest’s Zero Voltage Switching (ZVS) technology for heavy-duty trucks, buses and off-highway equipment.
If the inverter meets agreed acceptance criteria, Equipmake will hold exclusive rights to manufacture and sell it in those markets and will pay Hillcrest a royalty on net sales.
The agreement is Hillcrest’s first definitive commercial licensing agreement.
Each party will contribute equitable engineering personnel, facilities and expertise.
Equipmake’s contribution, including dedicated engineers, test and validation facilities, powertrain integration expertise and its commitment to market and sell licensed products, is the consideration for its exclusive license. Both parties intend to pursue government grants and other non-dilutive funding for direct program costs.
Heavy-duty electric vehicles run long duty cycles at high power, so the traction inverter, which converts battery power to drive the motor, has a direct effect on range, battery size and total cost of ownership.
ZVS reduces both the energy lost in the inverter and the electrical noise and voltage spikes it produces. That can mean higher efficiency, smaller filtering components and less stress on motor insulation.
In laboratory testing at the facilities of global automotive OEMs and Tier 1 suppliers, Hillcrest’s ZVS traction inverter achieved 99.7% peak efficiency. EMC chamber testing at a certified external laboratory showed substantially lower electromagnetic interference than conventional inverters, and bench testing reported in a peer-reviewed paper accepted for IEEE ECCE 2026 in October 2026 showed a reduction of more than 90% in motor-terminal voltage overshoot. The development program will build on these laboratory results to validate performance in heavy-duty vehicle applications.
For Equipmake, the agreement adds a differentiated capability to an established product line.
Equipmake designs, manufactures and supplies electric drivetrain systems to bus and commercial vehicle customers and is developing electric drive systems for off-highway equipment.
Exclusive rights would allow it to offer ZVS-integrated inverters to current and new customers in its core markets ahead of competitors.
“This is Hillcrest’s first definitive commercial licensing agreement, and it sets out a clear, milestone-based plan for bringing ZVS to heavy-duty vehicles, where efficiency, durability and total system cost are all critical,” said Don Currie, chief executive of Hillcrest.
“Equipmake already builds and sells electric drivetrains, and partnering with Equipmake is the right way to reach this market. Our customers need drivetrains that are efficient, durable and cost-effective over long duty cycles. Hillcrest’s ZVS technology has the potential to improve on all three. Integrating it into our inverter platform, with exclusive rights in our core markets, positions us to offer that advantage to our existing customers and to win new ones,” said Ian Foley, Founder and CEO of Equipmake.”
View from Vox
For Hillcrest, the agreement provides a path to commercialization through a partner with engineering, manufacturing and sales capabilities already in place, without the cost of building its own. Hillcrest would earn royalties on sales and will retain all ZVS-related intellectual property. In that sense, the only way to view this deal is as a win-win.