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Hillcrest Petroleum expands its executive team, engages Ari Berger as chief technology advisor

Berger will oversee technology development and commercialization processes for Hillcrest's clean energy technology initiatives, including the ALSET Innovation joint venture

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Berger is an expert in electric motor control technologies with specific expertise in system engineering, with his latest position as the chief technology officer at Exro Technologies Inc

Hillcrest Petroleum Ltd. (CVE:HRH) (OTCMKTS:HLRTF) said it has expanded its executive team and engaged Ari Berger as chief technology advisor.

In this role, the group said, Berger will oversee technology development and commercialization processes for Hillcrest's clean energy technology initiatives, including the ALSET Innovation joint venture. Hillcrest, through ALSET, has secured exclusive rights to license, market and monetize US patented technologies, as well as all future technologies created and produced by Potential Difference Incorporated (PDI).

Berger is an expert in electric motor control technologies with specific expertise in system engineering. His latest position was as the chief technology officer at Exro Technologies Inc (CVE:EXRO), an electromotive technology company. He is the owner of NIG Systems Ltd, which services the most technically demanding customers in Israel and worked for Bental Industries, a leading motor manufacturer.

READ: Hillcrest Petroleum inks US patented energy technology licensing agreement

He holds a master's degree in system control engineering from Technion - Israel Institute of Technology and is expert in embedded software development and has won several awards, including one from Intel for his innovative solutions for the wafer industry, the firm noted.

"Hillcrest is extremely pleased to bring on board a person who has been described by a previous employer as one of the best in the world in his field of expertise," Don Currie, Hillcrest CEO said in a statement.

"Adding someone with technical capabilities specifically relevant to our current technology initiatives and a track record of delivering technology products to end users is an extremely important step as the Company moves forward to develop and deliver value from clean energy technology opportunities. His experience and demonstrated successes in taking IP through to commercialization is the perfect fit to Hillcrest."

Berger added: "The beginning of a worldwide shift to electric vehicles as a primary form of transportation makes this an exciting time for technological innovation in my field. Hillcrest's mission to accelerate the transition from fossil fuels to clean energy aligns perfectly with energy-efficient power generation and electric vehicle technologies and it is exciting to be able to be a part of this. The potential applications and commercial opportunities for these technologies are amazing."

Hillcrest also announced that it has granted incentive stock options to certain directors, officers, consultants and employees of the company to purchase up to 1,000,000 common shares under its share option plan. The options are exercisable on or before October 7, 2025, at an exercise price of $0.05 per share.

Hillcrest is a Canadian oil and gas producer and operates multiple wells on two projects in the province of Saskatchewan. To complement its oil and gas production, Hillcrest is also pursuing opportunities related to clean energy technology with the potential to substantially reduce greenhouse gas emissions through its 50% ownership in ALSET Innovations Inc.

ALSET is a technology partnership with rights to exclusively license and market innovative efficient power generation and electric motor technologies in the USA and also to exclusively market this technology in the EU.

Contact the author at jon.hopkins@proactiveinvestors.com

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Price: 0.065 CAD

TSX-V:HRH
Market: TSX-V
Market Cap: $10.84 m
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