Renewable Energy Expert Joins Senior Management

RNS Number : 3683R

Inspirit Energy Holdings PLC

11 September 2014

 



11 September 2014

Inspirit Energy Holdings plc

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

Renewable Energy Expert Joins Senior Management

Inspirit Energy (LSE AIM: INSP) is pleased to announce the addition of Dr John Bannister to the senior management team as a full time consultant to the Company and special advisor to the board.

Dr Bannister joins Inspirit from Flow Group Plc ("Flow") where he was head of New Technology Development over the last 6 years, managing the certification process for Energetix Group plc (prior to formation of Flow), which resulted in the first product certified for field trials in 2011. Recently at Flow, Dr Bannister was responsible for the development and management of the Flow Boiler field trials and for product verification and reliability testing.

Dr Bannister has worked in the renewable and low carbon technology area since 2007 and led the product development team at Energetix from 2008 playing a major role in the development of their organic rankine cycle - based mCHP appliance. He was also head of Research and Development at Pursuit Dynamics plc and was engaged in product and business development roles at QinetiQ Group plc from 2001 - 2004.

John Gunn, the Company's CEO, commented:

"Dr John Bannister now brings this wealth of technical and commercial experience to Inspirit Energy, having already worked with and built relationships with many of our partners including, Enertek International, Malvern Boilers Limited and British Standards Institution. His addition to our senior management team will greatly assist Inspirit Energy in the final stages of commercial product development and will manage the market introduction and roll-out of Inspirit Energy's highly efficient and unique mCHP product for Field trials with our partners. "

For further information please contact:

Inspirit Energy Holdings plc	www.inspirit-energy.com
John Gunn, Executive Director	[phone]
Jubeenh Nazhat, 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. 

 

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