Trading Update

RNS Number : 0880J

Inspirit Energy Holdings PLC

01 April 2015

 

1 April 2015

Inspirit Energy Holdings PLC

(AIM: INSP)

Trading Update

Inspirit Energy is happy to announce progress on several fronts which represents significant advance for the business towards its goal of the commercialisation of its Kinematic Stirling Engine-based micro-combined heat and power (mCHP) technology.

The new appliance control and power electronics set for the 2kWe and 3kWe variants have been delivered and commissioned at our Sheffield laboratories by Sentec (our controls development partner). This will allow the delivery of our first production appliance to a major utility shortly. Additionally we will have a demonstration appliance installed in our Sheffield facility for demonstration purposes and further deliveries will continue thereafter to our selected customers. 

Manufacturing contracts for production quantities for the control and power electronic set are currently being negotiated and it is anticipated these will become available starting in June 2015.

Non Disclosure Agreements have been signed and there are on-going discussions with several manufacturing partners‎ and a major European utility to explore roll out across Europe and the USA.

We have agreed terms for the appointment of a Sales and Marketing director, who will spearhead our growth in to other territories. We are also in discussion with potential installation partners to provide UK wide coverage for the installation and support of the micro-CHP unit and Heat and Power server packages, which incorporate the micro-CHP unit.

John Gunn, Chief Executive Officer commented: " This news release indicates the substantial commercial and technical progress that Inspirit Energy has made over the last few months and substantiates the exciting prospect of moving to significant Sales, Production and Installations over the coming months"

For further information please contact:

Inspirit Energy Holdings plc                                         www.inspirit-energy.com

David Lenigas, Chairman                                                [phone]

John Gunn, Executive Director                                        [phone]

Nilesh Jagatia, CFO                                                       [phone]

Westhouse Securities Limited

( Nominated Advisor and Joint Broker)

Antonio Bossi / David Coaten                                          [phone]

Beaufort Securities

(Joint Broker)

Jon Levinson / Saif Janua / Elliot Hance                           [phone]

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 (micro-CHP) 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 offset
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 micro-CHP 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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