EV Battery Tech provides update and LOI with Hillcrest
Through the Letter of Intent with Hillcrest, the Company sought a collaboration to jointly develop and market ESS power systems.
VANCOUVER — Extreme Vehicle Battery Technologies Corp. provides an update on its definitive agreement with Squamish EcoVille Ltd. dba EcoVille Ltd. dated November 12, 2020 and its letter of intent with Hillcrest Petroleum Ltd. dated November 18, 2020.
Through the Definitive Agreement, the Company secured the rights to be the sole, exclusive provider of energy storage system solutions for the EcoVille development in British Columbia. The intention behind the Definitive Agreement was for the Company to outfit the Squamish BC development’s buildings and renewable energy generation systems.
Since announcing the Definitive Agreement in November 2020, the Company has unveiled the IoniX Pro “SmartWall” series. The SmartWall™ series is a portfolio of ESS products intended for home, commercial office and industrial market segments. The Company intends to outfit the EcoVille development with its SmartWall™ products. The first product to launch in this series will be the IoniX Pro Home ESS SmartWall™.
“We are very proud to working with EcoVille in their development of clean communities, which we believe are the way of the future,” said Bryson Goodwin, President and CEO EV Battery Tech.
Through the Letter of Intent with Hillcrest, the Company sought a collaboration to jointly develop and market ESS power systems. Hillcrest had announced a Memorandum of Intent with ANIGO Technologies Inc., who had been described to the Company as owning electric machine control technology. On the assumption that Hillcrest would reach a definitive agreement with ANIGO, the Company intended to develop a renewable energy ESS on its BMS technology platform, using ANIGO’s motor and generator control system technology.
Since the announcement in November of 2020, the Company has not pursued a definitive agreement with Hillcrest, as they have not yet announced the completion of a definitive agreement with ANIGO, which is a prerequisite to any agreement with EV Battery Tech. The Company continues to engage with Hillcrest and hopes to collaborate with them as originally planned.