Vancouver B.C. November 26, 2020 Extreme Vehicle Battery Technologies Corp. (the “Company” or “EV Battery Tech”) (CSE: ACDC) is pleased to provide an update on its recent potential joint venture partner, Hillcrest Petroleum Ltd. (“Hillcrest”) (TSXV: HRH).
EV Battery Tech endeavors to be a provider of premier solutions to the renewable energy marketplace. The renewable energy industry is dependent on ESS solutions to manage the increasing use of wind and solar power, the supply of which fluctuates with the weather. While technological developments in renewable energy have driven down the price of wind and solar power plants, they continue to require ESS to be a viable, stable source of energy. Due to their intermittent nature, renewable energy requires an ESS to enable it to provide reliable energy on demand.
This week, Hillcrest signed a memorandum of intent with ANIGO Technologies Inc. (“ANIGO”) outlining a licensed technology transfer arrangement whereby Hillcrest and ANIGO intend to jointly develop new intellectual property based on ANIGO’s electric machine control technology software. Electric machine control system software is essential for integrated power systems which combine electricity generation and energy storage systems (“ESS”) powered by battery management systems (“BMS”).
The new technology being developed by Hillcrest and ANIGO is expected to be used in the jointly developed integrated control systems which will be combined with EV Battery Tech’s ESS and BMS, pursuant to the proposed joint venture between the Company and Hillcrest, as previously described in the Company’s news release dated November 18, 2020.
Bryson Goodwin, President and CEO of the Company comments:
“Our discussions and developments with Hillcrest have been very positive and their recent announcement with ANIGO moves us one step closer to a definitive agreement. Our AI Integrated BMS and ESS solutions combined with Hillcrest and ANIGO’s technology could produce a “smart” integrated power system that could put us at the forefront of development in the green energy marketplace.”
The British Prime Minister, Boris Johnson recently vowed to install enough wind turbines to power every home in the UK by 2030.1 This simple vow will require an unprecedented amount of ESS to manage the intermittent supply of energy. The pursuit of building the required ESS solutions demanded by the global marketplace is a quest backed by several prominent business leaders, including Microsoft founder Bill Gates and SoftBank’s Masayoshi Son.2
“Every intermittent renewable energy power plant will require a storage-based solution to be a reliable and consistent source of energy,” stated Bryson Goodwin, President and CEO of EV Battery Tech.
“This creates an opportunity for ACDC to market their AI-Integrated BMS and ESS solutions to meet the growing market requirements for this market,” continued Mr. Goodwin.
1 Boris Johnson unveils £12 billion plan aimed at creating a Green Industrial Revolution | Euronews.
2 A new model for investing in energy innovation | Bill Gates (gatesnotes.com).
On behalf of the Company,
Bryson Goodwin, Chief Executive Officer
Email: [email protected]
Further information about the Company is available under its profile on the SEDAR website, www.sedar.com, and on its website (https://www.evbattery.tech).
The CSE (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
About EV Battery Technologies
EV Battery Tech is a blockchain and battery technology company with exclusive North and South American distribution rights as well as European and African distribution rights to patented battery management systems (BMS) designed to meet the growing demand for scalable, smart solutions for the electric vehicle (EV) and energy storage solution (ESS) markets.
EV Battery Tech’s technology is based on artificial intelligence (AI) algorithms designed to analyze the short comings of batteries in today’s market. The resulting extraordinary technology allows batteries to have more efficient power management and longer battery life, while offering real- time monitoring and remote maintenance.
The Company’s AI technology will also allow it to use recycled batteries in its ESS manufacturing process, making it one of the greenest battery technology companies in the industry.