Inspirit Energy Holdings PLC Product Update (0161E)
03 Novembre 2020 - 8:00AM
UK Regulatory
TIDMINSP
RNS Number : 0161E
Inspirit Energy Holdings PLC
03 November 2020
3 November 2020
Inspirit Energy Holdings Plc
("Inspirit" or "the Company")
Product Update
Inspirit Energy Holdings PLC (AIM: INSP), is pleased to have
agreed a letter of support for the development of a Waste Heat
Recovery ("WHR") system following a successful model design and
application demonstration with Volvo Penta, a world-leading
supplier of power solutions for marine and industrial
applications.
The WHR system utilises Inspirit's proprietary Sterling engine
technology, and its compact nature enables it to be positioned in
the exhaust system after the catalytic converters with the energy
being directly transferred as an electrical output. During the
demonstration, the novel three stage heat recycling process
increased engine efficiency by approximately 20%, driven by waste
heat from e.g. a Volvo Penta D13 series engine. In addition to the
efficiency improvement and heat reduction, the WHR system is also
expected to have the additional significant benefit of reducing
noise.
This letter of support validates Inspirit's technology and
underlines the Company's ability to capitalise on the ever-changing
market and greater demand from consumers for environmentally
friendly, energy efficient and cost saving products. The technology
will be tested over the next 12 months and if successful may lead
to a test of the system in a Volvo engine to confirm the efficiency
and output.
Peter Granqvist, SVP Product Dev. Planning and Purchasing, Volvo
commented:
"Inspirit has an interesting proposition with the development of
its Waste Heat Recovery technology which aligns with our own aims
of increasing the efficiency of the engines we manufacture in
support of Volvo's Agenda 2030 sustainability objectives. On
success of the application, we believe this proposal will enhance
the development of innovative solutions that will unlock new market
opportunities for us particularly for generator sets and marine
engines."
John Gunn, Chairman, Inspirit Group PLC commented:
"We are delighted to have the opportunity to work with the team
at Volvo Penta on the development of a waste heat recover system
utilizing the Inspirit Sterling engine technology and the knowledge
and technical expertise of our teams. We believe the technology
will have applications in a wide range of other sectors including
commercial and performance automotive, marine and solar and we are
hopeful that this project will provide a gateway to working on
future projects with the Volvo Group"
More information on Inspirit Energy can be found 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 (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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END
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