Inspirit Energy Holdings PLC Update on product application and the mCHP Boiler (1847T)
13 Novembre 2019 - 08:00AM
UK Regulatory
TIDMINSP
RNS Number : 1847T
Inspirit Energy Holdings PLC
13 November 2019
13 November 2019
Inspirit Energy Holdings Plc
("Inspirit" or "the Company")
Update on new product application and the mCHP Boiler.
Inspirit Energy Holdings Plc (AIM: INSP), the developer of micro
Combined Heat and Power ("microCHP" or "mCHP") boilers, is pleased
to update shareholders on the following progress of the
Company.
MARINE DEVELOPMENT
Further to the market update on 26(th) April 2019, the Company
is pleased to announce that it has taken further steps in applying
the Stirling engine application, as developed by the Company for
its mCHP boilers, in diversified sectors. To this end, the Company
has been invited to demonstrate its Stirling technology to a large
scale Swedish Marine engine manufacturer with a view to initiating
the successful design, development and testing to produce a unit
application for the marine and shipping industry; if successful,
such application could generate a significant contact for the
Company. To assist in achieving this, the Inspirit team will be
demonstrating a 3D model of the redesigned engine and application
during January 2020.
POLISH PARTNER COLLABORATION
In addition to the above, the Company has also been in
discussions with other parties for the application of the Stirling
engine technology and these sectors including solar, renewable and
refrigeration and this is a reflection on the wealth of expertise
within the Company in relation to the Sterling engine
technology.
Regarding the next stage in the manufacturing process of the
6.4kW mCHP with a 15kW thermal output boiler, the Company has
continued with focusing on the improvements to the design of the
Company's Inspirit Charger that incorporates the Stirling engine
technology; accordingly we have successfully created a smaller
prototype of the Stirling engine casting using modern 3 D printing
methods with our partners in Poland. This has passed PD 5500/2018
and as a result, has provided a favourable outcome at reduced cost
and greater efficiencies. In 2020 we expect to produce our first
unit with the assistance of our engineering partner in Poland. The
success of the unit will allow us to have a unit ready for batch
production.
Paul Booker -Design & Development Director comments as
follows:
"Inspirit Energy is at a pivotal point in its direction as an
R&D company. The development of the Charger with an output of
over 6 kW has been a long journey but has been well worth the
effort. In the development of the charger, the Inspirit team
identified a large range of applications and industry's where our
core technology could transpose into and this makes the next phase
of Inspirit's development very exciting to be a part off.
The journey with Inspirit has not been as straight forward as we
would have liked, but we have learned so much and developed a
technology which has many diverse applications. Its core attributes
are that it can run on many different fuel types and be
incorporated into a variety of applications and industries"
The Company will provide a further update as developments
progress.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
More information on Inspirit Energy can be seen at:
www.inspirit-energy.com
Contacts:
Inspirit Energy Holdings Plc
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
About Inspirit Energy Holdings Plc
Inspirit Energy Holdings plc is developing and commercialising a
highly efficient micro combined heat and power (mCHP) boiler for
commercial applications. The boiler is specifically designed to
meet the challenge of a reduced carbon energy supply and is capable
of running on natural gas, LPG and Biofuels. 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 license 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 tested and shown to be capable of
simultaneous generation of up to 15kW thermal and up to 6.4kW
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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END
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