Agreement with Sentec

RNS Number : 3729Q

Inspirit Energy Holdings PLC

14 October 2013

 



Inspirit Energy Holdings plc

("Inspirit" or the "Company")

Agreement with Sentec

Inspirit (AIM: INSP) is pleased to announce that it has concluded an agreement with Cambridge based technology and product developer, Sentec Ltd ("Sentec"), for the final stage development of its mCHP controls package.

Neil Luke, the Company's Chief Operating Officer, commented:

"The signing of this agreement secures the resources of Sentec, the world class developer of Smart Energy products, to provide the appliance control and energy management system within the planned timescale of achieving trial units by mid 2014 and commercialisation by the end of that year."

Steve Dawson, VP of Consultancy at Sentec, commented:

"We are delighted to enter into this agreement, continuing our relationship with Inspirit Energy, to deliver the controls element of their mCHP.  Our business specialises in developing solutions that enable the more efficient use, measurement, or distribution of energy; from sensing and controls through to data analytics that enable informed decisions on energy management. We see Inspirit Energy's mCHP as a key component within the Smart Building arena -providing SME's access to the considerable benefits of micro-generation, without the vast planning and infrastructure costs associated with other solutions."

For further information please contact:

Contacts:
Inspirit Energy Holdings plc	www.inspirit-energy.com
John Gunn, Executive Director	[phone]
Jubeenh Nazhat, Director/Company Secretary Sentec Limited Steve Dawson, VP of Consultancy	[phone] www.sentec.co.uk [phone]
Westhouse Securities Limited
Antonio Bossi / Paul Gillam	[phone]
Peterhouse Corporate Finance	[phone]
Jon Levinson / Lucy Williams
Public Relations:
Square1 Consulting
David Bick	[phone]

Notes to the Editors:

Sentec is an innovation, technology, and product development company. We specialise in the energy and cleantech sectors inventing, innovating, and developing technology & products on behalf of our clients. We bring our sensing, actuation, data-analytics, and communications skills to products which deliver greater intelligence and control, to the management of energy.

Sentec applies its energy industry expertise and experience in three main fields; Smart Grid & Metering - where Sentec has its technology embedded in over 12million field-deployed units; Smart Buildings - where Sentec enables the homeowner and the buildings/site manager to have clear understanding and control over their energy management; and Consumer products - where Sentec is helping revolutionise how our every-day consumer products use and report the use of energy.

Inspirit Energy, is a company based in Sheffield and is currently developing a 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. 

 

END

 

 

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