Hillcrest Petroleum Ltd (CVE:HRH) (OTCMKTS:HLRTF) (FRA:7HI) announced Monday that clean-energy expert Ari Berger has been appointed to Hillcrest's executive team as General Manager Technology Development.
Having previously acted in an advisory capacity, Berger will now assume the role of Hillcrest's in-house chief technology consultant, responsible for building, developing, and overseeing its clean energy technology initiatives.
Hillcrest said Berger is an expert in electric motor control technologies with specific expertise in system engineering. His latest position was Chief Technology Officer at Exro Technologies Inc (CVE:EXRO) (OTCQB:EXROF) (FRA:1O2).
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And he is the owner of NIG Systems Ltd, which services the most technically demanding customers in Israel and he previously worked for Bental Industries, a leading motor manufacturer.
Hillcrest said Berger's immediate focus will be to conduct internal reviews, commission independent 3rd-party testing, and to validate the performance of the previously announced energy efficiency technologies which are being licensed and developed by the ALSET Innovation Ltd joint venture.
Internal and independent 3rd-party reviews are being undertaken to provide quantitative independent validation of the energy efficiency technologies under controlled testing conditions to support commercial discussions involving licensing and technology joint ventures. The company anticipates these reviews will be completed within the next six to eight weeks.
A key part of Berger's new role will be to identify, evaluate and propose additional clean energy technologies and intellectual property to the company, which could complement ALSET technologies or potentially stand as separate clean energy technology business initiatives to be pursued by Hillcrest.
Hillcrest said his experience and demonstrated track record in taking IP from inception through to commercialization provides it with credibility in this competitive technology area and is expected to provide multiple value creation pathways for the company.
"Hillcrest is extremely pleased to have Mr. Berger join Hillcrest in an executive role to guide and drive our emerging clean technology opportunities," said Hillcrest CEO Don Currie in a statement.
"Since joining the Hillcrest team as an advisor only four weeks ago, Ari has already provided technical leadership and direction, initiating internal reviews, planning independent 3rd party testing and initiating preparations for the independent testing required for ALSET to progress licensing and commercialization activities. We are delighted to have someone with Ari's experience and demonstrated successes managing Hillcrest's new clean energy technology opportunities."
The company has also granted incentive stock options to certain directors, officers, consultants, and employees to purchase up to 1 million common shares. The options are exercisable on or before November 9, 2025 at $0.05 per share.
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