INSP Inspirit Energy Holdings Plc

TIDMINSP

RNS Number : 3317Z

Inspirit Energy Holdings PLC

14 September 2022

14 September 2022

Inspirit Energy Holdings Plc

("Inspirit" or "the Company")

Waste Heat Recovery System Update

Inspirit (LON: INSP), the technology and engineering solutions company, is pleased to provide a further update, following the announcement on 27 June 2022, regarding the Company's Waste Heat Recovery ("WHR") system and the marine application that the Company has been progressing with Volvo Marine.

The Company's phase one trial in Poland managed by Inspirit's engineering team, using a non-branded automotive engine, regularly produced a power output of over 34kW during several weeks of testing. This trial was conducted using an automotive engine with the same horsepower as the Volvo Penta D13 Engine running at 2400 revolutions per minute.

Further testing has recently been conducted in Poland, having concluded phase one of the WHR system development, and a series of short phase two tests of the WHR system have been conducted. These introduced the use of the Company's technology, the Helix Accelerator. Use of the Helix Accelerator resulted in a near doubling in the power output achieved to 64kW, using the same automotive engine as the phase one trial.

Further testing and development in Poland is planned before the end of 2022, with the goal of adding additional enhancements to the WHR system as part of the Company's proposed phase three trial programme, where further improvements in the power output are anticipated. Duration and stress testing will also be undertaken at this time, but to date the performance of the WHR system and its robustness have exceeded the Company's internal expectations.

Thereafter, Inspirit will seek to enter into a trial phase with Volvo Marine. The board are also actively pursuing commercial discussions with other parties that are active in the commercial automotive sector.

The board of Inspirit are very pleased with the team's achievements and the progress that has been made to date, particularly with the introduction of the Company's Helix Accelerator. The board remains confident that further significant improvements can be achieved, but further analysis of the data from the phase two trails is required before the upper power limits for the unit can be confidently predicted.

Additionally, the board are investigating the potential for the unit to be incorporated as a retrofit for the commercial engine market and in particular certain applications in the haulage market. This includes widening the Company's tradition sphere of operation in Europe and also in Asia and North America.

More information on Inspirit Energy can be seen at: www.inspirit-energy.com

For further information please contact:

 
 Inspirit Energy Holdings plc 
 John Gunn, Chairman and CEO      +44 (0) 207 048 9400 
 Beaumont Cornish Limited 
  www.beaumontcornish.com 
  (Nominated Advisor) 
 Roland Cornish / James Biddle    +44 (0) 207 628 3396 
 Global Investment Strategy UK 
  Ltd 
  (Broker) 
  Samantha Esqulant                 +44 (0) 207 048 9045 
 

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September 14, 2022 02:00 ET (06:00 GMT)

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