Appointment of Marketing Director

RNS Number : 7142M

Inspirit Energy Holdings PLC

11 May 2015

 

11 May 2015

Inspirit Energy Holdings plc

("Inspirit Energy", "Inspirit" or the "Company")

Appointment of Nick Stevenson as Marketing Director of Operating Company.

Inspirit Energy (LSE AIM: INSP) is pleased to announce the addition of Nick Stevenson to the senior management team in the role of Marketing Director of Inspirit Limited, Inspirit Energy Holdings plc's 100% owned operating Company.

Nick joins Inspirit from his previous positions as Chief Operating Officer with Sustainable Power Ltd where he was responsible for product strategy, commercialisation and market development.

Nick has worked in the building services (renewable and low carbon technology) area since 1993, having started in the sector by successfully developing his own gas boiler business, with overseas manufacturing operations, until acquisition via a trade sale in 2006. The business, an established player in the market with a strong brand identity, achieved a number of industry awards for innovation. During this time Nick also worked with Government on regulatory issues relating to building regulations for energy efficiency. He was New Energy Director at Ideal Heating Ltd from 2008 to 2011 with responsibility for all low carbon and renewable products, including mCHP. Nick holds a degree in engineering and is a Fellow of the Institution of Mechanical Engineers.

John Gunn, the Company's CEO, commented:

"Nick brings a wealth of technical and commercial experience to Inspirit Energy, having already worked with and built relationships with many of our potential commercial partners. His addition to our senior management team will greatly assist Inspirit Energy in the future stages of our commercial development and will determine Inspirit's market strategy and manage the mid to long term market penetration. His experience and knowledge of the mCHP industry and the SME sector in particular will add significant depth of capability to our efforts to establish Inspirit as a major player in our target markets of the UK, Europe and North America.

Nick Stevenson commented:

"I am delighted to join the team at Inspirit Energy in its key transitional stage to market deployment. The innovative and robust technology platform presents exciting opportunities for the future across a number of markets. I look forward to being part of the team as we maximise the significant commercial potential of the Company."

For further information please contact:

Inspirit Energy Holdings plc	www.inspirit-energy.com
John Gunn, Executive Director	[phone]
Nilesh Jagatia, Director/Company Secretary	[phone]
Westhouse Securities Limited
Antonio Bossi / David Coaten	[phone]
Beaufort Securities (Joint Broker)	[phone]
Jon Levinson / Saif Janjua / Elliot Hance
Public Relations:
Square1 Consulting
David Bick / Mark Longson	[phone]

About Inspirit Energy Holdings plc:

Inspirit Energy Holdings plc, is developing and commercialising a highly efficient micro combined heat and power (mCHP) boiler for the commercial and residential markets. The boiler is specifically designed to meet the challenge of reduced carbon energy supply and is capable of running on natural gas, LPG and Bio Fuels. The appliance produces hot water (for tap water or central heating) and electrical output simultaneously. The installation can be of single or multiple configuration and its high operating efficiency together with the off-set of electricity costs provides a very attractive investment payback proposition.

Inspirit intends to explore opportunities to licence out the underlying technology and the Directors believe that in some instances, the patents owned by Inspirit may be also used in the development of products other than a mCHP appliance. A prototype of the appliance has been independently tested and shown to be capable of simultaneous generation of up to 15kW thermal and up to 3kW electrical output. Once development of the appliance has been completed and commercialised, the Directors expect that the appliance will initially be marketed in the UK and Europe and eventually worldwide. Additional revenue streams may be possible through product licensing, sales of warranties and further development of the product. 

 

END

 

 

MSCSFLEFSFISESI